Shares in executive search firm Norman Broadbent (LON: NBB) jumped 42.9% to 5p on the back of a 27% increase in net fee income to £7.34m in 2022. The fourth quarter was stronger than the previous quarters and the new year has started well. This has enabled 2022 EBITDA of £100,00 compared with a loss in 2021. Sub-letting excess London office space is paying for a new Edinburgh office.
Some better news from Fire Angel Technology (LON: FA.) where the loss was reduced last year, even after higher procurement costs, and it expects significantly enhanced margins this year. The share price jumped 20.5% to 9.7p. That is the highest the share price has been since September when the interims were published. The home safety products supplier increased 2022 revenues by nearly one-third to £57.5m. A further reduction in loss is expected this year with helpful currency movements providing potential for further upside.
Trading at energy supplier Yu Group (LON: YU.) continues to beat guidance. Liberum has increased its 2022 earnings forecast by 13% to 30.3p a share. Renewal rates have increased as customers seek to lock-in prices and margins have improved. The share price rose 9.72% to 700p, which is the highest it has been since 2018.
Broadcast software provider Pebble Beach Systems (LON: PEB) figures for 2022 were in line with expectations with pre-tax profit expected to be £1.7m. Recurring revenues have increased. The share price improved by 9.38% to 8.75p.
Positive interims from toilet tissue supplier Accrol (LON: ACRL) have sparked upgrades. Interim revenues were 64% ahead at £121.1m and pre-tax profit jumped from £500,000 to £3.2m. Zeus has increased its full year pre-tax profit forecast from £6.7m to £7m. There is still room for margin improvement. Net debt is expected to be £22.9m at the end of the financial year and it will fall rapidly from then on. The share price moved up by 7.18% to 31.35p.
Results from aerospace composites kits supplier Velocity Composites (LON: VEL) were as expected following the trading statement at the end of 2022. In the year to October 2022, revenues were 22% higher at £12m, while he loss was flat at £1.5m. A further loss is forecast for this year. The share soared on the back of the US deal with GKN Aerospace and there has been profit taking. The share price declined by 6.25% to 60p.
Yesterday Kropz (LON: KRPZ) reported the first bulk sale of phosphate concentrate from the Elandsfontein project. The share price rose from 3.55p, which is the all time low, to 4p, but today it has fallen back 6.25% to 3.75p.
Revenues remain modest at diagnostics company Oxford Biodynamics (LON: OBD) even thought EpiSwitch CiRT prognostic test was launched in the US last February. Sales have started to build up so there should be a significant improvement this year on the 2021-22 revenues of £200,00. Pro forma cash is £10.3m following the October fundraising. The share price fell 5.24% to 14.475p.
