Eden Research (LON: EDEN) has received regulatory approval for the use of Mevalone for the control of powdery mildew on grapes in California. This is the most prevalent fungal diseases for grapes in California. The addressable market is €94m. The share price is one-fifth ahead at 3.3p.
Productivity optimisation software provider ActiveOps (LON: AOM) has won upsell work that includes £1m of annualised recurring revenues and £1.5m of training and implementation services. Canaccord Genuity estimates that 93% of its forecast 2025-26 full year revenues of £32.8m. Net cash is likely to reach £21m at the end of 2025. The share price rose 7.66% to 119.5p.
Digital technology company Catenai (LON: CTAI) has signed a subscription agreement with Alludium and the terms are in line with previous announcements. In the initial subscription, Catenai will take a 8.3% stake in Alludium at 73p/share. The share price improved 2.5% to 0.41p.
Angling Direct (LON: ANG) is doing well in a consolidating retail market for fishing tackle retailers. Revenues increased from £81.7m to £91.3m in the year to January 2025. There were six new stores in the UK and a store was opened in the Netherlands one year ago. The MyAD club has 409,000 members and is helping to increase spending. The European loss was reduced, and group pre-tax profit was one-quarter higher at £2m. Net cash is £12.1m after capital investment and share buybacks. The share price improved 5% to 42p.
FALLERS
Cosmetics supplier Revolution Beauty (LON: REVB) has got additional productions into retailers and launched the RELOVE brand, but the US and online wholesale markets are weak. Full year revenues fell 26% to £141.6m. A £10.9m loss is forecast for the year to February 2025. Inventory levels have been slashed, but net debt increased to £26.3m at the end of February 2025, which leaves little flexibility in terms of cash. It could stay at around that level by February 2026, although the company could be near to breakeven this year. Panmure Liberum cut its target share price from 50p to 20p. The share price dived 38.9% to 4.58p.
88 Energy (LON: 88E) has completed its 25-for-one share consolidation. The previous closing price was the equivalent of 1.4375p. The share price has declined 35.7% to 0.925p.
Retail software developer itim Group (LON: ITIM) increased revenues by 11% to £17.9m in 2024. Annualised recurring revenues were flat at £13m, but that was a result of currency movements and there was underlying growth. Services revenues increased helping to improve short-term profitability. There was a swing from loss to a pre-tax profit of £200,000. Cash doubled to £3.8m. There is a strong pipeline of potential business, but the timing of decisions by retailers remains uncertain. A further improvement in profit is expected in 2025. There has been profit taking after the gains over the past year and the share price fell by one-fifth to 46.5p.
Audio visual products Midwich Group (LON: MIDW) says tough trading conditions have continued into 2025 and there has been a mid-single digit fall in organic revenues. There has been growth in the UK, but sales in North America and Europe are lower. Gross margins are slightly better, but there has been a sharp decline operating profit. This means that full year profit will be well below previous expectations. There will be a trading statement on 21 July. The share price is 4.17% lower at 201.25p.
EKF Diagnostics (EKF) has completed its share buyback programme. A total of 4.64 million shares have been purchased at an average share price of 21.48p. The share price declined 4.17% to 19.55p.