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AIM movers: Ondine Biomedical NHS breakthrough and Getech continues to fall

Ondine Biomedical (LON: OBI) says nasal photodisinfection product Steriwave is now available through the NHS Supply Chain. This means that it will be easier for hospitals in England and Wales to buy the treatment. This follows initial use at Pontefract hospital. The share price improved 10% to 8.25p.

Full year results from Pennant International (LON: PEN) achieved the expected recovery in 2023 pre-tax profit to £1.3m. Higher software income has helped margins to improve. The Gen 3.0 software launch this year has already led to a major contract gain. There is strong activity in the defence sector, but the timing of business is uncertain so a dip in pre-tax profit to £1.2m is forecast for this year. The share price moved ahead by 4.17% to 25p.

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Mixer drinks supplier Fevertree Brand (LON: FEVR) has risen on the back of the bid interest for soft drinks company Britvic (LON: BVIC). Carlsberg’s increased bid of 1,250p/share has been rejected by the Britvic board. That is around 18 times forecast earnings. In contrast, Fevertree Drinks is trading on 33 times forecast earnings at 10575p, up 3.37%.

Market research company YouGov (LON: YOU) has recovered 2.95% to 453p following yesterday’s trading statement, but it is still 45% lower this week. Sales bookings are disappointing since the interims were reported. There is also a change in revenue recognition for consumer panel services that delays some revenue into next year. Full year revenues will be approximately £324m-£327m and underlying operating profit will be £41m-£44m.

FALLERS

Shares in geological information publisher Getech (LON: GTC) are still on the slide. Yesterday, it rreported a rise in loss from £3.1m to £3.6m in 2024. Getech has refocused on its core business and the first four months trading in 2024 has improved by 17%. Yet, even though Cavendish believes Getech could break even this year, the share price has slumped by another one-third to 3.05p.

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Active Energy Group (LON: AEG) also continues its decline because it intends to leave AIM and go into liquidation. There is no suitable offer for the CoalSwitch assets, but some discussions continue. Even so, shareholders are unlikely to get anything from the liquidation. Trading in the shares will be suspended on 1 July because the 2023 accounts will not be ready. Assuming the general meeting agrees to the proposals the AIM quotation will end on 23 July. The share price slipped by one-quarter to 0.075p.

Strategic Minerals (LON: SML) slipped into loss in 2023. There was a $8.9m impairment charge for the Leigh Creek copper mine, which needs a higher copper price, taking the total loss to $9.08m. The loss of a client at the Cobre magnetite tailings project was a reason for a drop in revenues, which are expected to rise this year. There was $112,000 in cash at the end of 2023. The share price fell 16.7% to 0.15p.

In the period to May 2024, Andrada Mining (LON: ATM) says that the Uis mine in Namibia produced 364 tonnes of tin concentrate with contained tin of 223 tonnes. Year-on-year sustaining costs rose by 35% to $28,700/tonne due to plant outages, while the tin price achieved was $30,800/tonne. There is cash of £12m at the end of May 2024. The company is negotiating a funding agreement. The share price dropped 12% to 4.05%.  

Investment company Braveheart Investment (LON: BRH) reported a swing from a profit of £2.36m to a loss of £8.19m in 2023. That is due to asset write downs that reduced NAV from £10.5m to £3.4m, including cash of £1.74m. The share price fell 6% to 4.7p, which gives a market capitalisation of £3m.

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