Manx Financial (LON: MFX) increased its full year dividend from 24.43p a share to 37.64p a share. Pre-tax profit jumped from £2.2m to £5.2m. Management expects first half lending to be ahead of the same time last year, while provisions should not be higher than the norm. The share price jumped 22.2% to 27.5p.
Promotional retail company SpaceandPeople (LON: SAL) achieved 2022 revenues of £5.5m and momentum has continued into 2023 despite UK rail strikes. The full year results will be announced in early May. The share price rose 12.8% to 75p.
Production has commenced at the ASH-8 onshore Egypt well, where United Oil and Gas (LON: UOG) has a 22% working interest, at a net initial stabilised rate of 656 barrels of oil/day and 0.58 mmscf/day. The share price is 13% higher at 1.3p.
Alliance Pharma (LON: APH) reported a 28% decline in underlying pre-tax profit to £30.3m, but new marketing initiatives and a recovery in China augur well for 2023. There will be higher marketing costs this year and pre-tax profit is expected to bounce back to £37.1m. The focus will be on the current portfolio of consumer and prescription products. Cash generation should help net debt reduce to around £90m. The share price is 1.3% ahead at 58.35p, although it was above 62p earlier in the day.
Waste-to-energy technology developer and operator Eqtec (LON: EQT) is raising £3.5m at 0.22p, with potential for a further £550,000 to be added to the total. The share price dived by 28.1% to 0.205p. The cash will be used on market development centres (MDC), which are used to demonstrate the company’s technology. The first MDC should open in Croatia later this year. This is part of the process to move to a licensing model. There will also be some spending on developing sustainable aviation fuel.
Renalytix (LON: RENX) says the FDA will not complete the process for the marketing authorisation application for kidney disease diagnostic test KidneyIntelX until the second quarter of 2023.The FDA will prepare a reclassification order pending approval. This delay has hit the share price, which is down 13.9% to 77.5p.
Virtual reality technology developer Engage XR (LON: EXR) is dropping its Euronext Growth quotation on 19 April. The share price continues its recent decline with a further 12% drop to 3.4p, which is a new low.
Pressure Technologies (LON: PRES) says Grant Thornton requires additional time to complete the audit of the 2021-22 results, so trading in the shares will be suspended on 3 April. The share price fell 7.23% to 38.5p. Previous accounting policies accounting for defence contracts are deemed not to be compliant with accounting standards. This means that costs will be taken earlier meaning higher profit in future years. The accounting changes will make it easier to return to profit this year. The new finance director will join in May and new banking facilities are being negotiated. The AGM will still be held on 31 March. Richard Staveley, who works with 20% shareholder Harwood Capital, will join the board when after the results are published.
