Inspiration Healthcare (LON: IHC) has finally signed the £3.3m Middle East contract it has been waiting for. The equipment should be shipped in the period to year-end in January 2025. This covers the majority of the revenues needed t be gained to achieve the full year forecast revenues of £41m. The share price has rebounded 23.7% to 23.5p.
Architectural and construction software provider Eleco (LON: ELCO) generated organic growth of 12% in the first half. Overall interim revenues were 21% higher at £16.3m. Annualised recurring revenues are £25.8m. Cavendish is maintaining its full year pre-tax profit forecast at £4.8m. Profit has been held back by the move to SaaS-based income, but as this process matures it should accelerate. The share price continues to gain momentum as it rose a further 9.36% to 128.5p.
Molecular diagnostics firm Novacyt (LON: NCYT) reported interim revenues of around £10.3m. This includes a full contribution from Yourgene Health, which was acquired last year. Reproductive health was the main growth area. There was £32.9m in the bank at the end of June 2024, although a £5m settlement fee has subsequently been paid to the government. Cost reductions are progressing well. The share price is 12.9% higher at 51.8p.
Prospex Energy (LON: PXEN) has secured a ten-year extension of the licence concessions for the El Romeral project in Spain. It can be extended for another ten years to 2044. Prospex Energy is trying to gain permission to drill more wells to provide gas to El Romeral so its electricity production can increase by one-third. The share price improved 8.18% to 8.6p.
FALLERS
Order intake has weakened at scientific instruments supplier Judges Scientific (LON: JDG) and there is no sign of this changing in the near term. There have also been delays of some projects. Organic revenues declined 3% in the first half. Demand from China has been weak. Some delayed work will come through in the second half. Even so, the full year pre-tax profit forecast has been cut by 10% to £30.3m, down from £31.7m last year. The share price slumped 18% to 9270p.
Broadcast technology developer Pebble Beach Systems (LON: PEB) expects a small dip in interim revenues to £5.3m, although orders were 12% higher. Management believes that revenues could grow from £12.4m to £13.4m in the full year. Even so, the share price fell 8% to 11.5p.
Like-for-like net fee income of the temporary and contract employment operations of Empresaria (LON: EMR) was 1% lower on a constant currency basis in the first half. There were large falls in permanent business and offshore services, which had been bucking the trend of the tough staffing sector. Cavendish has trimmed its income expectations but forecast 2024 pre-tax profit is maintained at £4.3m because of cost cutting and the disposal of loss-making businesses. Net debt is rising and could reach £15m by the end of 2024. The share price declined 7.5% to 37p.
Smart meter communications technology developer CyanConnode (LON: CYAN) revenues were well above expectations in the year to March 2024, but expenses were also higher. That meant that there was a greater than expected loss and cash was reduced to £800,000, although it recovered to £1.2m at the end of June 2024. CyanConnode is still expected to be profitable this year, but the pre-tax profit estimate has been cut by around one-third to £2.5m. The share price slipped 7.32% to 7.6p.
Ex-dividends
Calnex Solutions (LON: CLX) is paying a final dividend of 0.62p/share and the share price fell 1p to 48p.
Coral Products (LON: CRU) is paying an interim dividend of 0.25p/share and the share price is 0.25p higher at 13p.
Elixirr International (LON: ELIX) is paying a final dividend of 9.5p/share and the share price is 10p lower at 555p.
Nexteq (LON: NXQ) is paying a final dividend of 3.3p/share and the share price fell 3.5p to 76.5p.
Synectics (LON: SNX) is paying an interim dividend of 2p/share and the share price is unchanged at 176.5p.
Volex (LON: VLX) is paying a final dividend of 2.8p/share and the share price fell 5.75p to 345.75p.