AIM movers: MyCelx orders flow through and ex-dividends

Clean water technology developer MyCelx Technologies Corp (LON: MYX) says 2022 trading is in line with expectations even though project award times proved challenging. A paid trial has been completed in the US and other work is underway in Saudi Arabia. This should underpin the current forecast for 2023. The estimated $4.7m loss for 2022 is expected to fall to $1.5m in 2023 before possible breakeven in 2024. The share price jumped by 18% to 23p.

Executive chairman Rupert Labrum acquired 750,000 Primorus Investments (LON: PRIM) shares at 2.943p each, taking his stake to 22.35%. The share price rose 6.78% to 3.15p.

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Purplebricks (LON: PURP) recovered % to p following its interim figures. Marketing spend was reduced but the estate agency still lost money. There was a £12m cash outflow in the six months to October 2022, leaving £31.3m in the bank, which is similar to the market capitalisation. A full year loss is expected, but the cash outflow should be stemmed in the following year. The share price rose 2.67% to 10.245p, having been 10.5p earlier in the day.

Acquisitions provided momentum for managed services provider Redcentric (LON: RCN) in the first half with a full contribution to come in the second half. Interim revenues were 39% higher at £61.5m with recurring revenues contribution 91.7% of the figure. The reported profit was boosted by a £9.69m gain on assets bought for less than book value, although this was offset by £4.66m of exceptional costs. Underlying interim pre-tax profit fell from £7.27m to £3.52m. The share price is 4.64% ahead at 112.75p.

A reservoir modelling report from Schlumberger commissioned by Pantheon Resources (LON: PANR) reported oil in place estimates for Alkaid, Theta West and Talitha in Alaska of 1.67 billion barrels, 10.9 billion barrels and 5.26 billion barrels respectively. This is lower than the company’s previous estimates. The share price fell 12.2% to 85.15p.

Audio equipment supplier Focusrite (LON: TUNE) edged up full year revenues thanks to positive currency movements, which was impressive given the Covid lockdown boost to demand in the previous year, but underlying pre-tax profit fell from £40.7m to £33.8m. Higher costs put pressure on margins. Asia Pacific was a particularly strong market last year. The total dividend was higher than expected at 6.1p a share. There was a positive start to the new financial year, although Focusrite will do well to maintain its profit this year. The shares are 9.77% lower at 785p.

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Allergy Therapeutics (LON: AGY) is trying to conserve cash after production was paused at its Worthing factory to improve production quality. Funding options are being reviewed. The peanut allergy trial has commenced. The share price declined by 9.43% to 12p.

Cyber security services provider Falanx (LON: FLX) reported flat core services interim revenues of £1.8m in the first half, having shed unprofitable work. The loss increased, but the additional investment in the business is paying off with new orders being won. The share price dipped 8% to 0.575p.

Late on Wednesday, video platform SEEEN (LON: SEEN) announced a £2.6m placing and a £500,000 one-for-six open offer at 6p a share. The share price fell 7.14% to 6.5p. The nominal value of the shares has to be reduced to 0.1p each so that the share issued can happen. Allenby has been appointed as nominated adviser and joint broker. The cash will be invested in sale and marketing to secure higher margin revenues (£1.2m), plus technology development (£1m).


Alpha Financial Markets Consulting (LON: AFM) is paying an interim dividend of 3.7p a share and the share price rose 2.5p to 467.5p.

James Cropper (LON: CRPR) is paying an interim dividend of 2p a share and the share price is unchanged at 875p.

D4T4 Solutions (LON: D4T4) is paying an interim dividend of 0.88p a share and the share price is 2.5p lower at 238p.

First Property (LON: FPO) is paying an interim dividend of 0.25p a share and the share price is unchanged at 24.8p.

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