Immpharma (LON: IMM) owns 10.8% of Aquis-quoted Incanthera (LON: INC), which has published an update on its distribution deal with Marionnaud. The first order for Skin + CELL products will generate revenues of £2m with 50,000 bottles of skin cream to be supplied for sale in Austria and Switzerland. A second order will be even bigger. The management projects revenues of £10m for the year to March 2025 and this would make it profitable. The range is being increased to five products and they are all part of the initial launch. Revenues could grow to £33m the following year. There is potential for licence deals in other countries. The Incanthera share price has jumped 74.4% to 17p, which is the highest it has been since 2020. This pushed up the Immupharma share price by 35.3% to 2.605p.
Healthcare communications technology developer Feedback (LON: FDBK) shares soared 23.4% to 145p after it announced a partnership for TB screening in India. Feedback recently obtained an import licence for India, and this is the first major step since then. The deal with HEAL Foundation will be funded by third-party donors. The digital model will help with the scale-up of testing.
Caspian Sunrise (LON: CASP) is taking with potential buyers of the BNG producing shallow structures in Kazakhstan. Management plans to use the company’s drilling rigs and equipment to provide services to farm into assets. Production from shallow structures is currently 1,700 barrels/day and drilling is ongoing on deeper structures. The share price improved 23.1% to 3.2p.
Technical engineering recruiter RTC Group (LON: RTC) returned to profit in 2023 as revenues jumped from £71.9m to £98.8m. Pre-tax profit was £2.54m, which is the best ever outcome. Net cash was £1.1m at the end of the year and the final dividend is 4.5p/share, taking the total to 5.5p/share. The order book is worth £200m, but the outlook remains uncertain. The share price is 21.4% higher at 85p.
Premium spirits brands owner Distil (LON: DIS) is partnering with Global Brands to supply off-trade customers, such as grocery, cash & carry and convenience stores. The share price increased by one-fifth to 0.6p.
Leeds Group (LON: LDSG) says the disposal of its main business Hemmers should be completed this week. Substantial shareholders Peter Gyllenhammar and Johan Claesson have each lent €1m to the company so that it can pay a bank guarantee of €1.1m and tax of €800,000. These loans should be repaid after the disposal. The recovery of part of the tax payment and a distribution from the administrator of KMR could happen within six months. The share price is 22.2% ahead at 11p.
FALLERS
Aeorema Communications (LON: AEO) fell into loss in the first half as revenues fell from £7.12m to £6.55m. A full year pre-tax profit of £400,000, down from £1.05m, is still expected on revenues of £19m – even though £2m worth of contracts have been delayed. Management intends to retain the dividend. There is currently £3.72m in the bank. Management is trying to improve the first half trading so there is not going to continue to be such an imbalance. The share price fell 19.3% to 60.5p.
A weak self-tan market has hit Brand Architekts (LON:BAR), although interim losses were reduced. The Skinny Tan brand will continue to be weak in the second half. This has led to a 13% reduction in forecast 2023-24 revenues with a £500,000 loss instead of breakeven. A loss is also anticipated next year. The share price declined 14.6% to 20.5p.
OptiBiotix Health (LON: OPTI) has raised £1.35m at 20p/share. The share price slipped 12.6% to 20.75p. The cash will be spent on marketing and promotion, as well as the launch of new SweetBiotix and MicroBiome Modulator products.
Falcon Oil & Gas (LON: FOG) has reduced its interest in the proposed Shenandoah South pilot project from 22.5% to 5%, although it will retain a 10% weighted average working interest across the pilot project because of the 22.5% stake in the SS1H well – where test results are expected in the second quarter. It also retains 22.5% in the rest of the Betaloo area. This will reduce the capital commitment required from A$64m to A$14m. The share price is 12.7% lower at 7.55p.
