Digital technology services provider Made Tech (LON: MTEC) says the strong start to the year has continued into the second quarter. Sales bookings of £37.5m have been achieved so far this year. This means that revenues should be ahead of expectations with margins maintained. A full year pre-tax profit of £1.3m is forecast. The company should generate cash in 2024-25. The outlook for government spending on digital transformation is positive. The share price is 21.65 higher at 22.5p.
Kazera Global (LON: KZG) has secured environmental authorisation for the Perdevlei concession ahead of expectations. The next step is securing the mining right for the high-grade heavy mineral sands deposits. The share price increased 13.3% to 1.275p.
A positive trading statement from digital advertising services provider Silver Bullet Data Services (LON: SBDS) has won more contracts worth £1.5m and October was the best ever month. Clients include BMW and Visa. Committed 2024 revenues are £9.3m, compared with £8.3m for the whole of 2023. The share price is 8.08% ahead at 53.5p.
Restructuring and professional services provider FRP Advisory (LON: FRP) improved interim revenues by one-third to £77.6m and organic growth is 23%. That is mainly due to strong demand for restructuring services – The Body Shop was one of the clients. Litigation and contentious insolvency demand was also firm. The share price rose 7.85% to 158p.
FALLERS
Proton Motor Power Systems (LON: PPS) is going ahead with plans to leave AIM and winding down the business. Talks with a potential German industrial partner over funding have ended. The company has net liabilities. The share price slumped 70.6% to 0.125p.
In-content advertising company Mirriad Advertising (LON: MIRI) says full year revenues will be in the range of £1m to £2m. Progress has been slower than expected in the US and some contracts have been cancelled. Discussions with large advertising agencies continue but the timing of deals is uncertain. The annualised cost base is reduced to £8m. At the end of October there was £6m in the bank. The share price dived 41.8% to 0.16p.
Churchill China (LON: CHH) had a tougher second half than expected with a lack of seasonal uplift in the fourth quarter. This means that 2024 pre-tax profit will be well below expectations. Next year is expected to continue to be weak with hospitality businesses hit by higher National Insurance costs. There will also be a hit for Churchill China and costs are being reduced, but 2025 expectations are also downgraded. The balance sheet remains strong. The share price is 18.2% lower at 675p.
PHSC (LON: PHSC) interim revenues dipped 2% to £1.57m and it fell into loss. That was due to higher costs, particularly in terms of salaries. Recruiting and retaining staff has been difficult. A one-off security contract ended. There is no interim dividend. The share price fell 17.5% to 23.5p. Pro forma NAV is 31.7p/share, including cash of £505,000.