Push-to-talk and workplace management technology developer Mobile Tornado (LON: MBT) has won a contract through its regional partner to supply technology for a mobile network in the Middle East and Africa, which has more than 50 million customers. Management believes that there should be increasing sales momentum following the deal. The share price jumped 152.6% to 2.4p. That is the highest level since the end of 2022.
Plant Health Care (LON: PHC) generated a 72% increase in revenues to $4.3m in the first four months of 2024. There is cash of $2.3m. The loss could be reduced from $3m to less than $1m this year. A profit is possible in 2025. The share price has been in the doldrums this year and it recovered 31.4% to 4.56p, which is a 2024 high.
Shares in Light Science Technologies (LON: LST) rebounded 18.4% to 2.9p after reporting a 14% increase in revenues in 2024 and the loss was more than halved to £1.14m thanks to lower costs. Nearly all the revenues come from contract electronics, although the controlled environment agriculture division did increase its contribution albeit from a low base. A debt refinancing should be completed this month.
Cell engineering technology developer MaxCyte (LON: MXCT) has maintained its expectations of flat to 5% growth in core revenues for 2024, but Strategic Platform Licence-programme related guidance has been increased from $3m to $5m. There should be at least $175m in cash and investments at the end of the year, down from $202.5m at the end of March. First quarter revenues were one-third higher at $11.3m, including $3.15m from SPL – a further licence was signed in April. The share price rose 9.31% to 317p.
FALLERS
Alliance Pharma (LON: APH) has delayed its 2023 results for the third time because the auditor still has not completed its work. That knocked 20.3% off the share price to 25.5p, which is the lowest it has been for more than one decade. Chief executive Peter Butterfield has left the healthcare company and, following a search process, Nick Sedgwick will take over having recently worked for Reckitt.
Brighton Pier (LON: PIER) reported a slump from a pre-tax profit of £7.2m in the 15 months to December 2022 to a loss of £600,000 in 2023, as like-for-like revenues were 4% lower. The bars and leisure company could not offset the higher costs. Brighton Pier could return to profit this year, but it will take an upturn in consumer confidence for a more significant rebound. The share price dipped 10.3% to 39p.
Premier African Minerals (LON: PREM) says the Zulu lithium plant flotation circuit is up and running. However, optimisation of the circuit is still ongoing. The plant is operating at 50% of capacity. Further equipment needs to be installed for this circuit and improvements are required in other parts of the plant. Lithium grades are proving to be higher than expected. The share price fell 8.97% 0.1775p.
Anglo Asian Mining (LON: AAZ) subsidiary Azerbaijan International Mining Company has signed a financing facility with Caterpillar, and it has received a fleet of underground mining equipment for the Gilar mine. The facility covers $3.7m of the $4.6m cost. This is repayable in 12 equal quarterly instalments. The share price declined 4.73% to 70.5p.
