Oil and gas producer Empyrean Energy (LON: EME) says that it has agreed with its partners to conduct a drill stem test on the potential oil zone identified by the Wilson River-1 well. This should start by the end of April. After that testing an extended production test will be considered. The share price rose 15.6% to 0.13p.
Executive search firm Norman Broadbent (LON: NBB) is growing despite the tough recruitment market. It has taken on additional fee earners, and this is showing through in the figures. Full year net fee income fell by 11% to £9.3m with international business holding up with the decline happening in the UK. However, first quarter 2025 net fee income was a record of £3m. This momentum is continuing and should help Norman Broadbent return to profit. The share price increased 11.5% to 2.9p.
Currency services provider Argentex (LON: AGFX) shares continued to recover following full year figures which show positive momentum in the second half and into the new financial year. The outcome for 2024 was better than expected. Cash generated from operating activities improved from £13.6m to £16.7m. However, Argentex still fell into loss for 2024 and may not return to pre-tax profit this year. The new digital infrastructure should be launched in the second half. This should help to grow long-term profit. The share price improved 11.3% to 45p.
Cybersecurity services provider Shearwater Group (LON: SWG) has announced a two-year extension to a three-year contract with a global telecoms and media company. Revenues will be recognised in the year to March 2025, which underpins expectations of a £400,000. The share price recovered 9.52% to 34.5p.
FALLERS
Electric Guitar (LON: ELEG) has returned from suspension after creditors agreed to the company voluntary arrangement and a £300,000 subscription at 0.034p/share. The company liquidated its operating subsidiary and is seeking a new business to acquire. The share price slumped 79.2% to 0.05p.
Brighton Pier (LON: PIER) is the latest company to ask shareholders for approval for an exit from AIM. It costs up to £300,000/year to be on the junior market and there is a lack of liquidity. It is difficult to raise significant amounts of money. There are plans to arrange a refinancing with two major shareholders. The leisure group intends to secure a matched bargain facility. Trading is in line with expectations. The share price dived 59.2% to 7p.
Automotive brake discs developer Surface Transforms (LON: SCE) has received total cash advances of £8m and help from its customers and it has also increased the price of discs. Long-term supply agreements are being discussed. Gross cash is currently £1.2m. Manufacturing yield remains inconsistent. The share price slipped 12.9% to 0.27p.
Staffing firm Gattaca (LON: GTC) reduced costs in the six months to December 2024, but this could not offset the effect of a decline in net fee income and underlying pre-tax profit dipped from £1.2m to £1m. An interim dividend of 1p/share was announced. Energy and infrastructure were sectors that did well, but there were delays in defence due to the UK government spending review. Full year pre-tax profit could still edge up from £2.9m to £3m. The share price fell 4.19% to 80p.