Waste-to-energy technology supplier Eqtec (LON: EQT) says that its Italia Market Development Centre in Gallina should commence commercial operations in December. Final equipment deliveries should be this month. The plant will turn agricultural waste into energy. Annual revenues could be €2.7m. Additional funds have been raised for vehicle that owns the Italia MDC and Eqtec maintains its 20% stake. The share price is nearly one-third higher at 0.425p.
Promotional products services provider Altitude (LON: ALT) says full year results will be well ahead of expectations. The share price jumped 15.6% to 26p. Zeus has doubled its 2022-23 pre-tax profit estimate to £540,000, on a 19% increase in forecast revenues to £16.5m. This indicates the operational gearing of the business. Net cash should reach £1.2m.
Helium explorer Helium One Global (LON: HE1) has selected Exalo as preferred drilling contractor because of legal problems concerning the previous contractor and drilling should start in the first quarter of 2023. This should not materially increase costs. The rig will be moved from South Africa to Tanzania. The share price rose 10.2% to 6.5p.
Tatton Asset Management (LON: TAM) continues to generate impressive net inflows to its assets undermanagement. They were £907m in the six months to September 2022, helping to offset market declines. The 50%-owned 8AM Global added a further £1bn taking the group total to £12.3bn, which has already risen to £12.9bn in November. Pre-tax profit improved from £6.77m to £7.68m and the dividend was raised by 12.5% to 4.5p a share. The share price is 8.77% ahead at 440.5p.
Legal services provider Knights Group Holdings (LON: KGH) says interim revenues were 18% higher at £71m and pre-tax profit improved by the same percentage to £9m. That is in line with expectations. Net debt has reached £35.6m. The share price is 3.34% higher at 83.5p.
T42 IOT Tracking Solutions (LON: TRAC) is selling Tetis tracking and monitoring units to US logistics firm Overhaul Group Inc. There is an initial two-year contract. The share price improved 6.9% to 7.75p.
Osirium Technologies (LON: OSI) is raising £1.53m at 2p a share. The share price slumped 36.3% to 2.55p. This cash will provide additional working capital and help the cyber security business reach cash breakeven earlier. Annualised cost savings of £1m have been identified and £650,000 have already been implemented. Sales director Stuart McGregor is replacing David Guyatt as chief executive and he will become executive chair. Allenby has increased its forecast 2022 revenues to £1.8m and slightly reduced the expected loss to £3.22m. Osirium will go back into net debt during 2023.
Electrolyser developer Clean Power Hydrogen (LON: CPH2) is having problems with the design and operation of its cryostat unit in the MFE 220 test unit. Scaling up the unit has been a challenge. This delayed deliveries of two initial MFE 220 units, which were supposed to happen in October. One customer has cancelled the order and is going with a rival electrolyser. A redesign of the unit should cure the issues. On the current forecasts, the cash could reduce to £3m by the end of 2024 and then rise the following year, but further delays could mean the cash reduces more quickly than expected. The share price declined by 16.1% to 34p.
Artemis Resources Ltd (LON: ARV) is searching for an Australia-based chief executive. Alastair Clayton will step down as an executive director next March and non-exec Edward Mead has stepped down immediately. Dr Simon Dominy has become technical director. Exploration drilling at the Greater Carlow gold copper cobalt project in Western Australia should restart early in 2023. The share price slipped 5.13% to 1.85p.
