AIM movers: Biome Technologies contract and poor flows for Falcon Oil & Gas

Biome Technologies (LON: BIOM) has been awarded a £452,000 contract to supply an induction furnace system to a manufacturer of scientific glass products. This is a new application. The installation should be completed in 2024, although some revenues may be recognised in 2023. The share price is 11.8% higher at 142.5p.

Offshore services provider Tekmar Group (LON: TGP) continues to rise on the back of the increased interim revenues announced yesterday. Management believes the company can reach EBITDA breakeven for the full year – based on forecast revenues of £40m. The share price is a further 8.8% rise to 12.375pp.  

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Sound Energy (LON: SOU) has received court papers confirming the withdrawal of the court case with the Moroccan tax authority. The $2.5m settlement compares with a claim of $23.95m. The share price rose 5% to 1.575p.

Quadrise (LON: QED) says that parts and spares have been delivered to Morocco and it is ready to recommence the demonstration test that was paused in May. The share price increased 2.12% to 1.6825p.

Falcon Oil & Gas (LON: FOG) reports that flow testing at the Amungee NW-2H (A2H) well in the Betaloo sub-basin, Northern Territory, Australia identified a potential skin inhibiting the flow of gas from the shale. The gas flowed at an average of 0.97mmcf/day over 50 days. Management believes this does not reflect the potential. The planned drilling programme will be modified to reflect the additional knowledge. The share price declined 33.5% to 6.65p.

Energy projects developer Oracle Power (LON: ORCP) is raising £363,000 at 0.1p a share. This will finance the development of the company’s joint venture green hydrogen project. Global Investment Strategy has been appointed joint broker. The share price slipped 19.2% to 0.105p.

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Alpha Financial Markets Consulting (LON: AFM) exceeded expectations in the year to March 2023, but the chief executive warns that there is increased competition and lengthening sales cycles due to overcapacity in the market. Even so, management remains confident that it can achieve pre-tax profit of £42.6m this year, down from £44m in 2022-23. The share price declined by 17.4% to 412.5p.

Hornby (LON: HRN) swung from an underlying pre-tax profit of £3.2m to a loss of £1.1m. That is before a £2.92m goodwill impairment charge and costs of £910,000 related to Hornby World customer experience. Hornby warned in April that it expected to make a loss. Revenues were lower than previously expected. Management hopes that the operational gearing on growing revenues will help Hornby to move back into profit. The share price fell 11.1% to 20p.


Alliance Pharma (LON: APH) is paying a final dividend of 1.18p a share and the share price is 1.15p lower at 53.05p.

Duke Royalty (LON: DUKE) is paying a dividend of 0.7p a share and the share price fell 0.5p to 32.75p.

Flowtech Fluidpower (LON: FLO) is paying a final dividend of 2.1p a share and the share price is unchanged at 105p.

GB Group (LON: GBG) is paying a final dividend of 4p a share and the share price fell 5p to 245.6p.

Gooch & Housego (LON: GHH) is paying an interim dividend of 4.8p a share and the share price is 12p lower at 618p.

Learning Technologies Group (LON: LTG) is paying a final dividend of 1.15p a share and the share price declined 1.55p to 89.65p.

Rurelec (LON: RUR) is paying a special dividend of 0.2p a share and the share price fell 0.175p to 0.625p.

RWS Holdings (LON: RWS) is paying an interim dividend of 2.4p a share and the share price declined 6p to 247.2p.

Tribal (LON: TRB) is paying a final dividend of 0.65p a share and the share price fell 1.45p to 37.5p.

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