Regenerative medical devices developer Tissue Regenix (LON: TRX) increased interim revenues by 19% to $14.1m and there was a small EBITDA profit, following up on the positive contribution in the second half of last year. There is still a pre-tax loss of $922,000, down from $1.65m and a $700,000 cash outflow from operating activities. There is $4.1m in the bank. The BioRinse sports medicine allografts product line has been launched. The share price is 7.6% higher at 53.8p.
Molecular Energies (LON: MEN) plans to sell its Argentinian oil and gas business for up to $40m to its chairman Peter Levine. Argentina is economically and politically volatile and exchange controls mean that the business is hampered. There is a lack of investor interest and there are capital investment requirements that need to be funded. There will be an initial payment of $2m plus repayment of $13m of debt. The rest of the purchase price is based on up to 20% of net free cash flow over the next five years. The Paraguay oil and gas assets and other operations are not included in the sale. The share price rose by 6.12% to 130p.
Workwear and catering linen hirer Johnson Service Group (LON: JSG) says that it expects its 2023 results will be slightly better than the forecasts previously upgraded in July. Interim revenues were 22% ahead at £215m and pre-tax profit jumped from £11.2m to £16.4m as margins continue to improve. Even so, there is some way to go to rebuild margins to past levels. Last week, JSG acquired Republic of Ireland-based healthcare and catering line hirer Celtic Linen. The share price increased 6.77% to 132.4p.
Hospital accounting software provider Craneware (LON: CRW) improved 2022-23 revenues by 5% to $174m, but pre-tax profit was flat at $13.1m. Earnings fell, but the total dividend is 2% higher at 28.5p/share. Annual recurring revenues are $169m. Management is positive about the outlook. The share price increased 6.5% to 1475p.
CEPS (LON: CEPS) reported an improvement in pre-tax profit from £527,000 to £977,000. Stretch fabrics supplier Friedman’s and construction compliance company Hickton both made higher profit contributions, while there was a small dip in profit from Aford Awards. Management plans to ask shareholder approval for a balance sheet reconstruction that would allow the payment of dividends. The share price moved up 5.13% to 41p.
FALLERS
Software supplier GetBusy (LON: GETB) made a slightly lower underlying loss in the first half as it continues to invest in sales and product development. Annual recurring revenues grew 14% to £20.1m. and there is £1.7m in the bank. finnCap maintains its expectation of a small 2023 loss. The share price slumped 13.9% to 68p, but that partly reflects a strong share price rise in the previous six weeks.
Fulcrum Utility Services (LON: FCRM) continues to decline ahead of its departure from AIM. The general meeting is 26 September. The share price is 12.5% lower at 0.175p, which is 82.9% down on the year.
Artemis Resources (LON: ARV) joint venture partner ASX listed GreenTech Metals has highlighted new potential targets at the Osborne project in Western Australia. Analysis has confirmed that there is spodumene at the Osborne joint venture. The share price declined 12.5% to 1.75p, but it is still higher than at the start of the week.
Video editing technology developer Blackbird (LON: BIRD) reported a 36% dip in interim revenues to £985,000 after the loss of a contract with A+E and additional development fees in the previous period. The cash outflow was £1.92m, but there is still £8.18m in the bank. Even so, investors want to see progress with the new product for creators and other new business to replace what has been lost. The share price is down 7.89% to 8.75p, but it was as low as 6.75p earlier in the day.
Bricks and building products distributor Brickability (LON: BRCK) warns that trading is tough because of the weak construction market. Bickability’s first half is almost complete, and a trading statement will be published at the end of October. The share price fell 3.92% to 49p.
