AIM movers: Enteq Technologies warns and WANdisco $25m contract

Enteq Technologies (LON: NTQ) is the worst performer of the day after admitting that 2022-23 revenues and profit will not be as good as expected. The share price dived by 32.2% to 10p. finnCap had been estimating earnings of 1.7p a share, following a loss last year. No new forecast has been published. There is greater competition in the downhole oil and gas equipment market.

LBG Media (LON: LBG) is attracting more people to its content, but that is offset by weaker revenues per view and higher costs. The business is second half weighted. Zeus has edged down its pre-tax profit expectations for the full year to £16.5m, up from £14.4m last year. Net cash of £46.1m is forecast. Even after the 24.1% share price fall to 78p, LBG Media is trading on 13 times prospective earnings. LBG Media floated last December at 175p a share.

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Oncimmune Holdings (LON: ONC) doubled its loss in the year to May 2022. The immunodiagnostics business increased costs much faster than revenues. Demand is increasing for the ImmunoINSIGHTS antibody profiling business. Costs have subsequently been reduced in the EarlyCDT Lung product business. That achieved annualised savings of £500,000. The shares are 22.1% lower at 61.5p.

SaaS-based retail software developer itim Group (LON: ITIM) is growing its annualised recurring revenues (ARR), but recognised revenues grew more slowly. The software helps high street retailers to compete with online retailers. Interim revenues were 6% ahead of £6.8m, while higher costs following the flotation last year, meant that the loss increased. A full year loss of £900,000 is forecast, but itim expects to achieve target ARR of £14m by the end of they year. Net cash is expected to be £4.2m at the end of 2022 and it should be maintained at around that level even though management continues to invest in growing the business. The 19.2% decline leaves the share price at 67.5p. The June 2021 placing price was 154p a share.

Trading has been difficult at kettle components and appliances supplier Strix (LON: KETL) because of caution concerning consumer spending. Retailers are not stocking up to the extent they have previously. Manufacturers’ order books are improving, but that will not help Strix until next year. Forecast 2022 revenues have been cut from £130m to £116m and that reduces the pre-tax profit forecast by 16% to £28.1m. A lower tax charge reduces the effect on earnings. The dividend should be edged up again this year. The share price has fallen 18.1% to 115.9p. The prospective multiple is nine and the yield is 7.4%.

Data management technology developer WANdisco (LON: WAND) has gained its largest ever contract and the share price has jumped 10.7% to 446.5p. The $25m with a global telecom company is the fourth with the same company – they total $39.3m. Full year revenues of $12m are forecast, more than doubling to $25m in 2023. WANdisco will remain loss making.

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An AGM update by maritime monitoring technology developer SRT Marine Systems (LON: SRT) says that first half trading has been strong and much better than the same time last year. Guidance on first half revenues will be published on 3 October. The share price is 9.1% higher at 27.5p.

Shares in video games developer Frontier Developments (LON: FDEV) have risen even though it reported a slump in 2021-22 profit. This was due to more than doubling development spending to £46.2m and a write-down of investment in Elite Dangerous: Odyssey.  The higher investment in new games should enable Frontier Developments to continue to increase revenues by around one-fifth each year. There was an 8% increase in the share price to 1287p.

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