Video games services provider Keywords Studios (LON: KWS) was resilient in 2023 despite the tough video games market. The share recovered 12.7% to 1544.5p, but they are still below the level at the start of 2024. Adjusted pre-tax profit was 2% ahead at €114.7m on revenues 13% higher at €780.4m. Broader media business was hit by the writers’ strike in Hollywood and that knocked €20m off revenues.
Symphony Environmental Technologies (LON: SYM) has been boosted by a positive report from the US Environmental Protection Agency that pro-oxidant masterbatches “could significantly reduce the persistence of plastic pollution without creating undesired by-products”. This is based on a scientific evaluation and is a positive thing for the company’s d2w technology.
Woodbois (LON: WBI) is selling its Mozambique operations to focus on its timber interests in Gabon. The business will be bought by a local purchaser and the agreement should be signed in the next few weeks. Bans on exports and instability in the Cabo Delgado region mean that Mozambique is less attractive.
FALLERS
Supercapacitors manufacturer Cap-XX (LON: CPX) says its working capital position continues to deteriorate because of the costs of the patent infringement case and disappointing revenues. This has hampered the ability of the company to invest in R&D. Debt is not a potential source of funds and a share issue process has taken longer than expected. Cash is required by the end of the month. The share price slumped 82.1% to 0.0715p.
Blue Star Capital (LON: BLU) says investee company Dynasty Gaming & Media is acquiring the assets of Googly Media for $7.6m. The combined business will be valued at $15m, but that is much lower than expected. Blue Star Capital, which will convert $75,000 of loan notes into shares, previously valued its investment at £5.45m and it is now worth £450,000. The share price dived 44.8% to 0.04p.
Sareum (LON: SAR) issued a trading statement on Tuesday afternoon. The drug developer’s interim loss will be higher. The fall n the share price means that Sareum has not been able to draw down on its RiverFort subsidiary and it needs to raise additional cash. The share price declined a further 27.3% to 20p.
Medical imaging and data analytics services provider Ixico (LON: IXI) says 2023-24 revenues will be lower than expected at between £5.2m-£5.9m. Capital constraints are hitting the spending of biopharma clients. This has led to the postponement of trials. Cavendish expects a full year loss of £2.9m. The share price fell 16.2% to 7.125p.
