Mirriad Advertising (LON: MIRI) is partnering with media company Group Black, which will provide enhanced brand integration and engagement within the partner’s content slate. The two companies are assessing content to identify opportunities. The shar eprice jumped 58% to 0.395p.
Insurance premium finance provider Orchard Funding (LON: ORCH) reported an improvement in pre-tax profit from £1.08m to £2.1m. Impairment provisions fell from £490,000 to £60,000. Average income earning assets grew 9% to £67.9m. There is an interim dividend of 1p/share plus a special dividend of 1p/share. The company is sceptical about AIM, but it has not current plans to leave. The share price improved 15.8% to 33p.
Detergents and consumer products additives supplier Itaconix (LON: ITX) reported 2024 revenues down from $7.9m to $6.5m because of the loss of low margin business and the loss rose by 50% to $1.8m. However, Itaconix should return to growth this year and Canaccord Genuity has reduced its 2025 loss forecast from $1.1m to $900,000, thanks to improved gross margin, and expects break even in 2026. Itaconix has enough cash to achieve this. The share price rose 12.5% to 126p.
Drug delivery developer CRISM Therapeutics (LON: CRTX) has been working with the Medicines and Healthcare products Regulatory Agency (MHRA) to design the first in-human trial of ChemoSeed in patients with high grade glioma. Advice from the MHRA confirms further preclinical toxicology studies are not required, which saves £400,000, as well as recommending improvements to the trial plans. CRISM is on course to begin clinical trials by the end of 2025. The share price increased 10.5% to 10.5p.
FALLERS
Catalyst Media Group (LON: CMX), which has a 20.5% of horse racing broadcaster Sports Information Services, fell into loss in the six months to December 2024. SIS paid a dividend of £630,000 to Catalyst Media during the period. NAV fell from 151.6p/share to 147.3p/share by the end of 2024, including cash of £1.1m, and a 4p/share dividend has subsequently been paid, which cost £840,000. SIS says that its profit in the year to March 2025 will be lower because of additional costs and delays in new non-racing business. The share price slumped 21.6% to 40p.
Bank note authentication technology Spectra Systems (LON: SPSC) reported 2024 figures that were ahead of forecast, but there was profit taking in the shares, which slid 18% to 205p. Revenues were 142% higher at $49.2m and pre-tax profit jumped from $8.2m to $12.1m. The 2025 pre-tax profit forecast has been trimmed, but it is still $25m, although a fall to $19.9m is expected in 2026.
Andrada Mining Ltd (LON: ATM) reported higher costs than expected in its trading statement for the period to February 2025. It says 2025 C1 costs were $21,023/tonne of contained tin compared with guidance of $17,000-$21,000/tonne. The C2 costs were at the top end of guidance. The share price is 12.4% lower at 3.05p.
Antibodies developer Bioventix (LON: BVXP) released flat interim revenues of £6.73m, while pre-tax profit was 4% lower at £5.1m. The company’s markets are maturing, but there are potential growth opportunities. Cavendish reduced its full year pre-tax profit forecast by 11% to £10.3m, down from £10.9m the previous year, The share price fell 10% to 2475p.