Eternity Networks (LON: ENET) shares jumped 155% to 1.275p. Yesterday, the technology company said it was in discussions with 5G Innovation over their share subscription agreement.
Giftware and stationery manufacturer IG Design (LON: IGR) says first half sales were lower, but profit and cash generation are better than expected. Sales have improved outside of North America, where unprofitable contracts have been shed. There have been reduced Christmas order quantities and general demand remains weak. Net cash is expected to be $59.6m at the end of March 2023. The interims will be reported on 28 November. The share price improved 14.2% to 128.5p.
Visualisation software developer Oxford Metrics (LON: OMG) did better than expected in the year to September 2023. There was a particularly strong performance from engineering and life science sectors. Pre-tax profit was £6.3m, which is better than forecast and more than double the £2.6m pre-tax profit for the previous year. Net cash is £64.8m, which is more than 50% of the market capitalisation. The new chief executive Imogen Moorhouse has joined the company. The share price moved ahead by 6.1% to 87p, but it remains one-third lower than at the beginning of July.
Empire Metals (LON: EEE) says that it has completed two of the three planned diamond core holes at the Pitfield project. Core from the first hole has shown titanium mineralisation and the same appears to be true of the core from the second hole. There will be more news in the coming weeks. The next phase of drilling will begin before the end of the year. The share price increased 5.33% to 3.95p.
Bradda Head Lithium (LON: BHL) interims show a $6.24m cash outflow leaving $1.5m in the bank at the end of August 2023. Since the year end, an updated mineral resource showing contained metal of more than one million tonnes triggered a Lithium Royalty Company payment of $2.5m to Bradda Head Lithium, which was received in October. The share price firmed 6.25% to 2.55p, which is just above the low.
FALLERS
IP and language services provider RWS (LON: RWS) has a strong long-term track record, but it has been finding trading more difficult over the past year. There have been lower levels of activity in some markets. The launch of the Unitary Patent on 1 June meant that IP work volumes recovered in the second half. Costs are being reduced. Adjusted pre-tax profit will be within the range of expectations of £116.5m-£129m with revenues declining by 2%. Net cash was £23m at the end of September 2023. The share price slipped 17.9% to 195.35p. The full year results will be published on 12 December.
Full year figures from Virgin Wines (LON: VINO) were in line with expectations with revenues declining from £69.2m to £59m, while pre-tax profit slumped from £5.2m to £600,000. Net cash is £5.5m, following a one-quarter reduction in inventory. The active customer base reduced from 186,000 to 173,000. Trading improved in the second half and that continued into the first quarter of this year with 12% growth. Variable costs have been reduced and pre-tax profit could recover to £1.5m this year. The share price continued its recent fall with a 12.2% decline to 36p.
FD Technologies (LON: FDP) shares continue to fall following yesterday’s statement that the software company expects a small decrease in revenue in the year to February 2024. Previous consensus was an 8% increase to £320m. The share price dipped 6.69% to 815.5p.
Sylvania Platinum (LON: SLP) increased PGM production to 20,200 ounces in the latest quarter – this is the highest figure for four years. Grades and recoveries are ahead of expectations. Full year guidance of 74,000-75,000 ounces could prove low. The negative is that prices have fallen, although the PGM basket price has been strengthening in recent weeks. The share price is 5.57% lower at 78p.
