Professional services provider DSW Capital (LON: DSW) is acquiring DR Solicitors for £6.1m in cash and shares, which will reduce dependence on M&A. DR Solicitors has a client base of doctors, consultants and primary care providers. The latest annual pre-tax profit was £1.2m. The deal should be hugely earnings enhancing. Shore has not changed its forecasts but expects to upgrade them significantly. Pre-tax profit could be doubled in 2025-26, although the additional shares mean that earnings will not rise by that much. The share price increase 18.2% to 65p, having been 67.5p earlier.
Fuel cell technology developer AFC Energy (LON: AFC) says full year revenues are slightly ahead of forecast at £4m and the joint venture with Speedy Hire is building up momentum. There was £15.4m in cash at the end of October 2024 and the monthly cash outflow was £1.3m. Cost savings will reduce this to £1.2m. The share price is 19.9% higher at 9.715p.
Membrane free electrolyser developer Clean Power Hydrogen (LON: CPH2) has entered into a licence agreement with Lisheen H2 Energy Park, trading as Hidrigin, for the rights to manufacture MFE220 electrolyser units for its own use up to 2GW. This could be worth multi-million Euros. Hidrigin owns the 122MW Lisheen solar park and has funding for other developments. The licence fee will be payable in stages. Separately, there is a sale of a 1MW MFE220 electrolyser unit. The share price rose 19.4% to 9.85p.
Croma Security Solutions Group (LON: CSSG) increased full year revenues by 9% to £8.7m, while pre-tax profit doubled to £860,000, helped by a higher interest contribution. Net cash is £2.1m with further cash payments for the disposal of Vigilant. This year’s pre-tax profit is forecast to be £920,000. The share price improved 14.8% to 77.5p.
FALLERS
Feedback (LON: FDBK) is raising £5.2m at 20p/share, which is a massive discount to the previous market price, and it slumped 43.8% to 25p.The share price has halved over the past week. There is also a WRAP retail offer of up to £1m – closing on 5 November. The cash will finance the rolling out of the Bleepa medical imaging communications product and take advantage of a collaboration with a provider of primary care IT services that will use Bleepa to streamline referrals between primary care, Community Diagnostic Centres and community care.
A trading update from Vianet (LON: VNET) shows interim revenues 7% ahead at £7.7m with 84% recurring. This underpins full year pre-tax profit expectations of £2.2m, up from £1m last year. Marstons signed a long-term contract renewal for beverage metrics services. The smart vending machines technology revenues have been held back because of delays in closing the 3G network. The share price is 4.9% lower at 116.5p.
Pulsar Helium Inc (LON: PLSR) has upgraded site infrastructure at the Topaz helium project site in northern Minnesota and signed a drilling contract with Capstar Drilling. The Jetstream #1 well will be deepened by 500 metres. This should significantly increase the size of the helium resource, which is already commercially viable. The company joined AIM on 18 October at 25p/share. The share price dipped 1.79% to 27.5p.