Shares in investment company Argo Group (LON: ARGO) jumped 50% to 6p following yesterday evening’s interim results announcement. Revenues more than tripled to $4.6m and pre-tax profit jumped from $100,000 to $2.5m. NAV was $7.3m at the end of June 2024.
Chemotherapy drug delivery technology developer CRISM Therapeutics (LON: CRTX) has won a service contract worth £230,000 with imphatec. This involves the formulation of synthetic hormones used to treat hormone deficiency illnesses. The work should be completed by the end of 2025. The share price is 18.5% higher at 16p.
Transport information and CCTV systems supplier Journeo (LON: JNEO) published a trading statement showing 17% higher interim revenues of £25.6m, while pre-tax profit jumped 54% to £2.8m. Net cash is £12.8m. Cavendish has raised its pre-tax profit estimate by 8% to £4.8m. Next year it is expected to increase to £5m. The share price increased by 12.5% to 256.5p.
Online gaming company Gaming Realms (LON: GMR) expects interim revenues to be m18% ahead at £13.5m and EBITDA should be 21% higher at £5.8m. Adding new partners has boosted income. Gaming Realms is on course to increase full year pre-tax profit from £5.4m to £8.8m. Net cash could double to £14m. The share price improved 4.84% to 39p.
FALLERS
North Sea-focused Jersey Oil and Gas (LON: JOG) could be hampered by the rise in the energy profits level to 38% and the main investment allowance of 29% will be removed from November. A reduction in capital allowances will be announced in the October Budget. The levy will be extended until 2030. The Great Buchan Area joint venture will be impacted. Jersey Oil and Gas has a full carry on much of the development spending of the project and there are potential milestone payments. However, the final investment decision could be hampered by the tax changes. The share price declined 16.1% to 73p.
FIH Group (LON: FIH) says the figures for the year to March 2024 will be in line with expectations of pre-tax profit of £3.5m, but there will be a shortfall this year. This is due to delays in tenders for the housing and construction business in the Falkland Islands. Zeus has withdrawn its estimates and valuation. The share price is 15.3% to 205p.
Promotional products services provider Altitude (LON: ALT) improved pre-tax profit by one-third to £1.2m in the year to March 2024. Zeus has increased its 2024-25 earnings forecast to 2.6p/share due to a lower than previously expected tax charge on pre-tax profit of £1.9m. That figure is the same as for 2023-24, where there was a tax credit. The share price dipped 10% to 40.5p.
Concrete levelling equipment supplier Somero Enterprises (LON: SOM) says poor weather conditions in North America and Australia have led to project delays. The second half should be stronger, but workforce reductions are underway. Cavendish has cut its 2024 pre-tax profit forecast by 13% to $27.6m and the dividend expectation has been slashed from 27.7 cents/share to 21.7 cents/share. There should still be cash of $27m at the end of 2024. The share price fell 8.57% to 320p.