Better news from Inspiration Healthcare (LON: IHC) and the share price rebounded 50.4% to 20.3p. A $6m contract has been won by the Neonatal division and the core business is doing well. However, there are further delays to the Middle East contract – the first shipment is awaiting custom clearance – and revenues in the year to January 2025 were £38.3m, rather than the £40.9m forecast. Underlying revenues were 0.8% better than expected, though. The loss was more than £2m. Most of the £1.25m of annual cost savings will come through this year when there should be a return to profit.
Media marketing platform developer SEEEN (LON: SEEN) says 2024 revenues grew from $2.1m to $3.2m following a strong second half. This suggests that the business is gaining momentum and the current annual run-rate for revenues is $5m, which is in line with forecasts. A large publisher has contracted SEEEN to manage its video library on YouTube. SEEN has IP that can maximise the income from these videos. Revenues were below forecasts but the positive outlook meant that the share price still jumped 46.2% to 4.75p.
Invinity Energy Systems (LON: IES) has signed a partnership with Frontier Power and it will provide the partner with flow batteries for potential projects supported by the UK’s long duration cap and floor mechanism, where applications should commence in the summer. Frontier Power has reserved up to 2GWh of manufacturing capacity to underpin its bids. There will be an upfront fee when projects have been won. There could also be international opportunities. The share price improved 8.33% to 13p.
Oil and gas explorer Corcel (LON: CRCL) has raised £2.72m at 0.16p/share, which was a premium to the previous closing price. The cash will be invested in increasing the stake in the Kwanza Basin and on studies ahead of a new seismic campaign in Angola, which should happen before the end of the year. There are warrants attached to the placing shares that could raise up to £3.8m if exercises. The share price rose 6.67% to 0.16p.
FALLERS
Serica Energy (LON: SQZ) says that problems caused by storm Eowyn have led to the shutting down of production from the 46%-owned Triton FPSO in the North Sea. The operator Daba identified damage to equipment. Repairs are underway and production should restart before the end of March. Serica Energy is likely to downgrade its full year production guidance from the current level of 4,000boe/day. The share price slipped 13% to 125.35p.
Transense Technologies (LON: TRT) reported interim figures showing revenues 36% ahead at £2.46m, although pre-tax profit was 13% lower at £550,000. Hiring is going on to build up the business to cope with further growth and this is holding back short-term profit. Full year pre-tax profit is expected to edge up to £1.6m this year, before slipping back to £1.3m in the year to June 2026. It should then return to growth. The company recently secured a new distribution agreement with Haltec Corporation, a US tyre valve company focused on mining, truck and aviation sectors. Cash was £1.19m at the end of 2024, but it rose to £1.87m at the end of January 2025. The share price declined 11.2% to 134.5p.
Katoro Gold (LON: KAT) plans to acquire 31 Explore, which has mining claims in Ontario, Canada. The mining claims include lithium bearing pegmatites and rare earth elements. There have been additional claims staked next to the Pearl lithium project since the announcement of the acquisition, which requires shareholder approval of resolutions at a general meeting to be held on 28 February. The consideration for the acquisition is 375 million warrants exercisable at 0.1p each and 375 million warrants exercisable at 0.15p each. Katoro Gold is raising £317,500 at 0.05p/share and another 38 million shares will be issued to pay fees. The par value of shares has to be reduced so that the shares can be issued at this price. The share price fell 5% to 0.0475p.