Rail infrastructure monitoring technology provider Cordel Group (LON: CRDL) has won a five-year contract with Angel Trains to install fully automated monitoring hardware on in-service passenger trains. This enables real-time monitoring of the rail infrastructure. Previously the technology was used on trains specifically used for analysis and maintenance of the track. Angel Trains supplies the trains to Great Western Railways. The share price jumped 23.8% to 6.5p
Corporate finance firm Marechale Capital (LON: MAC) has completed a fundraising for explorer and developer Weardale Lithium, in which it holds a 8.5% stake. The County Durham-based lithium company plans to offer a domestic supply from its lithium brine projects. The Marechale Capital share price rose 19.1% to 2.5p.
Crestchic (LON: LOAD) continues to beat expectations and forecasts have been upgraded for the loadbanks manufacturer and hirer for the third time this year. Trading momentum continues to accelerate and its largest ever loadbank hire contract has recently been secured. The additional capacity is there to grow the business following the factory investment. Demand from datacentres is strong and oil and gas demand is recovering with overall utilisation at record levels. There is visibility into 2023. The 2022 pre-tax profit forecast has been raised from £5.2m to £7.2m and the 2023 figure from £5.8m to £8.1m. There was a 16.9% increase in the share price to 229p.
Northcoders (LON: CODE) has won a £4m contract from the UK government to provide scholarships for software training for individuals. The cash will fund software development and data engineering skills training. The contract stretches into 2023. More than 85% of forecast 2022 revenues of £6.5m, up from £3m, are covered by contracted work, while 30% of the 2023 forecast of £10.5m is covered. Northcoders appears on course to meet the £800,000 pre-tax profit target for 2022 and there will be increasing belief that the expectations of a quadrupled 2023 profit of £3.2m can be achieved. The shares are 12.5% ahead at 270p. That is a 50% increase on Last July’s placing price.
Fusion Antibodies (LON: FAB) has submitted a patent application for the company’s bispecific designs for antigen display. The technology uses a reporter part that can increase the success rate in identifying highly potent antibodies. This sparked a 8.57% increase to 12.75p.
Kropz (LON: KRPZ) says that its Elandsfontein phosphate project has been delayed due to initial ore variability and that made it the worst performer on AIM with a 30.5% decline to 5.25p. This means Kropz immediately requires $4.2m of additional funding. A $7.3m bridge loan facility has been agreed with ARC Fund on top of the existing facility. The bridge loan is payable on demand. Further funding is likely to be required for working capital.
Nexus Infrastructure (LON: NEXS) has reduced its guidance for 2022-23 two months after reporting its interims. Operating profit is expected to be between £3.8m and £4.2m. The consensus forecast had been £5.95m. Management blames delays in the eSmart Networks EV charging business for pushing that division into loss and for the group being set to breakeven rather than make a profit in the second half. The utility connections and civil engineering businesses are trading as expected. The share price fell 13.2% to 145p.