Predictive genetics company GENinCode (LON: GENI) has started to generate revenues in the US but the major growth came from the UK and the Europe. In 2024, revenues were one-quarter higher at £2.7m. Overheads were reduced. Following a de Novo submission for CARDIO inCode, the FDA has requested that deficiencies in relation to clinical validation be addressed, but management believes that US approval can be achieved. The timing is uncertain. However, the current forecasts assume most of the growth in revenues to £4.3m in 2025 will continue to come from the UK and the US. There is enough cash to take the company into the first quarter of 2026 and the company could be approaching breakeven by then. The share price rebounded by two-fifths to 2.1p.
Metals One (LON: MET1) has commenced field work on Uravan Uranium-Vanadium Project in Colorado, which it is in the process of acquiring. A geophysical survey has been undertaken, and sample will be sent for analysis. The share price improved 16.3% to 28.35p.
Pawnbroker Ramsdens (LON: RFX) continues to benefit from the high gold price and the strong interim results have led Panmure Gordon to raise its 2024-25 pre-tax profit forecast by 17% to £15.4m. Interim revenues were 18% ahead a £51.6m with precious metals sales 31% ahead. Retail jewellery sales were 18% higher. Underlying pre-tax profit jumped from £4m to £6.13m. The interim dividend is one-quarter higher at 4.5p/share and there is also a special dividend of 0.5p/share. Net cash was £7.4m at the end of Mach 2025. Three stores will be opened in the second half. The share price increased 6.06% to 350p.
Full year results for Avacta (LON: AVCT) will be published on 6 June following additional work that was required by the auditors. The share price initially fell but is 5.71% higher at 37p.
FALLERS
Sports and fitness data analyser 4Global (LON: 4GBL) plans to leave AIM after less than four years on the market. It was unable to raise additional funding to finance its growth in North America. Leaving AIM would save £500,000 each year. There has been limited trading in the shares and the cancellation, which is dependent on shareholder approval, would be on 7 July. The share price slumped 43.2% to 12.5p, having been even lower earlier in the morning. The December 2021 placing price was 91p.
Generative AI services provider GenIP (LON: GNIP) reported its maiden results, which are for just over ten months to the end of 2024. Initial revenues were $123,000 and the operating loss was $889,000. Cash was $972,000 at the year end. The order book is growing, and prepayments are helping the cash position. The share price dipped 10% to 22.5p.
In 2024, EMV Capital (EMVC) increased its core revenues from £1.4m to £2.5m following the acquisition of Martlet Capital. The underlying loss of the core investment business rose from £1.1m to £1.5m due to additional costs after the acquisition. The reported consolidated figures also include revenues from majority-owned investee companies, which are loss-making. Assets under management rose by one-third to £98.5m. There was £1m in cash at the end of 2024 and net assets were £14m. The share price fell back 7.41% to 37.5p.