Digital marketing services provider Silver Bullet Data Services (LON: SBDS) shares continue to rise following yesterday’s interims showing a 76% increase in revenues to £4.1m and a much lower loss. More than one-third of revenues were in the US, helped by sales of the AI product. The full interims will be published later this month. The share price jumped another 17.7% to 60p, a 50% rise over two days.
Bleepa communications technology developer Feedback (LON: FDBK) moved ahead following yesterday’s full year figures. Contracts have been delayed, but there is potential for win to come though in the current financial year and Bleepa has gained approvals for India. The share price increased 12.7% to 80p.
A second highwall miner is up and running for coal miner Bens Creek (LON: BEN) and this will help it to hit production targets. In August, prior to installation, 42,000 tonnes of coal was produced. Economies of scale will reduce costs. The current selling price is $210/tonne. Figures for the year to March 2023 will be published on 27 September. The share price is 12.1% higher at 16.25p.
Oil and gas company Longboat Energy (LON: LBE) is acquiring Topaz Number One Ltd, which increases its interest in block 2A, offshore Malaysia from 36.75% to 52.5%. This block contains the Kertang prospect. The initial payment is £100,000 with up to $3.125m payable depending on the progress of the development of Kertang. The management of the acquired entity have experience in the region and are staying with Longboat Energy. The share price improved by 4.35% to 24p.
FALLERS
North Sea oil and gas producer IOG (LON: IOG) has been told by the authorities that the Nailsworth P2342 and P130 licences are not going to be extended and this could have a negative commercial impact on the potential for the Elland licence. Bondholder discussions continue and the waiver lasts until 29 September. There was £14.5m in cash at the end of August, including £7.3m of restricted cash. There was stable production from Blythe H2, but the realised gas price was lower. The share price slumped 31.8% to 1.15p.
T42 IOT Tracking Services (LON: TRAC) says that there have been no orders from the distribution agreement with OpenBox Ventures in the US – $1.9m was the muted minimum order level for 2022. That means exclusivity conditions have not been met and other sources of orders have produced revenues in the US. The share price fell 14.3% to 4.5p.
There were no surprises in the interim figures from Belluscura (LON: BELL), which led to a dip in the share price Positive news about product launches and a licence agreement with InnoMax in China has meant that the shares have sharply outperformed the market over the past three months. Dowgate has increased its forecast loss for 2023, but still expects Belluscura to move towards profit and generate cash from operating activities next year and make a pre-tax profit of £10.8m in 2025. The share price dipped 12.1% to 43.5p.
Currency services provider Argentex (LON: AGFX) increased interim revenues by 28% to £25m, although operating profit grew by 13% to £5.4m because of investment in longer-term growth. There is an interim dividend of 0.75p/share. Revenues per client are increasing, as more clients and more services are added. The share price declined 11.7% to 97.6p.
Digital technology services provider Made Tech (LON: MTEC) raised full year revenues to £40.2m, but pre-tax profit more than halved to £1.1m. The order book is worth £68m, but some of this work has already been delayed and there is uncertainty about when the contracts will commence. Net cash is £8.5m. The share price fell 12.1% to 15.25p.