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Best of the Best tumbles after seeing slowdown in customers as lockdown eases

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Best of the Best PLC (LON:BOTB), which runs online competitions to win cars and other luxury prizes, is one of the day’s losers.

The company stopped running competitions in airports in September 2019 which – given the effect of the pandemic on travel – was with hindsight a great call.

Its focus now is purely on its digital business, and its full year results show revenues rising from £17.79mln to £45.68mln, with profits up from £4.19mln to £14.06mln.

But with all its eggs now in one digital basket, any signs of a slowdown could unsettle investors.

So these comments from chief executive William Hindmarch appear to have gone down badly. After saying the business was excited about the opportunities ahead as the economy recovers and some form of normality returns, he added: “However , n contrast to the summer 2020 period, we have experienced somewhat of a reduction in customer engagement since the latest easing of lockdown restrictions on April 12, 2021, specifically relating to the understandably long-awaited re-opening of hospitality and non-essential retail.  We are closely monitoring this, but with our flexible model, growth strategy and plans for the year ahead, we expect customer engagement to return to normal levels before too long.”

The company also said that after a formal sales process was launched during the year, there were extensive talks with a number of interested parties. But these came to nothing as the company decided to stick with its existing growth strategy.

All this has seen Best of the Best tumble 27.76% or 730p to 1900p.

8.31am: Predator takes a step closer to starting Moroccan drilliing

It has been a busy month so far for Predator Oil & Gas Holdings PLC (LON:PRD).

At the start of June  the Jersey-based oil and gas company, which has operations in Trinidad, Morocco and Ireland, raised £1.785mln in a placing. The funds will be used to evaluate and acquire new business opportunities and for general working capital.

Now it has made an important step towards beginning drilling at a key new well.

It has announced that the Star Valley Rig 101 is now under contract to Predator Gas Ventures Ltd and is being mobilised to Guercif in Morocco to drill the MOU-1 well.

Drilling operations at Guercif are expected to start in the next few days, on track for the estimate of between 15 – 27 June.

Chief executive Paul Griffiths has previously called the drilling programme “potentially the single most important catalyst to creating near-term shareholder value over the last 3 years.”

The update has seen Predator’s shares climb 7.73% or 1.28p to 17.91p.

Also on the way up is Jangada Mines PLC (LON:JAN) after an update from its 100%-owned Pitombeiras Vanadium project in Brazil.

Its shares have jumped 15.09% or 1.2p to 9.15p after it announced that a new report showed a 221% increase in measured and indicated resources at the site.

Executive chairman Brian McMaste said, “We are thrilled by these results as they sit firmly within expectations and bode well for future development as we look to fast-track plans to take the project to production.”

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