Oracle Power (LON: ORCP) has received positive news concerning assay results from two of the eleven holes being drilled at the Northern Zone Intrusive Hosted gold project in Western Australia. The results exceeded expectations. Further results will be published, and additional drilling has started. The share price recovered 15.6% to 0.0185p.
Shares in AI software developer Pri0r1ty Intelligence (LON: PR1) rebounded a further 21.4% to 4.25p following yesterday’s announcement of a contract worth up to £100,000. Pri0r1ty will develop an AI-powered information hub and website for charity Leukaemia Care.
Pressure Technologies (LON: PRES) has won a contract to supply BP Aberdeen City Hub with high-pressure hydrogen storage. This is the first large scale storage contract and should be delivered in early 2026. More hydrogen storage contracts are expected. This is in line with a greater focus on that market. Forecasts assumed at least one large hydrogen contract would be won so this helps to underpin the expected reduction in loss. The share price increased 9.23% to 35.5p.
Concierge services provider Ten Lifestyle Group (LON: TENG) improved interim profitability despite additional costs for setting up an extra-large contract in the US. Investment in digital and automation technology improved efficiency. Revenues were 3% ahead at £31.8m and growth should accelerate in the second half and full year pre-tax profit is expected to improve from £3.1m to £3.8m. The share price improved 8.77% to 62p.
FALLERS
Telematics company Trakm8 (LON: TRAK) says anticipated business for the fleet and optimisation operations has not come through. One particular optimisation contract is not going to happen. This means that full year revenues will fall by nearly 10% from the 2023-24 level of £16.1m and there will be a bigger impact on profitability. The share price slumped 26.3% to a new low of 3.5p.
Revenues of 4Global (LON: 4GBL) in the year to March 2025 will fall short of previous forecasts and the physical activity data services company will not do much better than breakeven. Middle East sales are reducing, but the data-driven sales in North America are growing. That is part of the strategy, but the decline has been exacerbated by delayed contracts. Canaccord Genuity has reduced its revenues forecast from £7.6m to £5.1m, while the 2025-26 revenues have been slashed from £8.9m to £5.8m. The share price dipped 24.7% to 27.5p.
Sulfide-based battery developer Gelion (LON: GELN) is making progress with the development of its technology and it is ready to secure one or more strategic partners to help with the commercialisation of the technology. The cash outflow was £1.76m in the six months to December 2024. In the second half £1m of revenues should be recognised for an energy storage integrated solution project and additional cost savings have been made. There was £3.5m in cash at the end of 2024. More cash will be required later this year. The share price declined 15.2% to 9.75p. News of a strategic partner should help the share price to recover later in the year.
Location management software developer 1Spatial (LON: SPA) reported growth in revenues, but non-recurring revenues are falling faster than expected. SaaS revenues increased 36% to £11.5m, while the group total was 3% ahead at £33.4m. That is slightly lower than previously forecast. Full year pre-tax profit is expected to fall from £2.1m to £1.5m. The share price fell 9.38% to 58p.