Minimally invasive surgical endoscopy equipment manufacturer Creo Medical (LON: CREO) says that there was a strong trading performance in the first quarter of the financial year with growth of 60%. Full year growth could be between 50% and 60%. The sale of manufacturing operations should cut annual overheads by £1m. The share price firmed 9.26% to 14.75p.
Electronics and batteries supplier Solid State (LON: SOLI) reported pre-tax profit 11% ahead of the Cavendish forecast at £8.6m. Revenues were 3% ahead at £154.1m, which was 23% higher than the previous year and gross margin improved. Net debt was £4.2m. The order book is worth £102.4m. The share price gained 6.49% to 205p.
Eco (Atlantic) Oil and Gas (LON: ECO) has received ministerial approval in Namibia for the farm out of the 85% interest in Petroleum Exploration Licence 98, offshore Namibia, to an arm’s-length wholly Namibian-owned company, Lamda Energy. Documentation is being completed. The share price improved 6.88% to 48.95p.
Real-time market data software provider Arcontech (LON: ARC) has won a three year contract worth £800,000 with a European bank for the CityVision real-time market data platform. Arcontech is on course to make a pre-tax profit of £700,000, down from £1m, in the year to June 2026. The share price increased 7.74% to 83.5p.
Futura Medical (LON: FUM) has terminated its US agreement with Haleon for erectile dysfunction treatment Eroxon because of disappointing sales. Futura Medical has waived the patent milestone and will receive a $1.9m termination fee. The US commercial rights will be returned, as well as being granted permission to use existing marketing materials. Market Performance Group will distribute Eroxon on a commission basis in the US from the beginning of September. MPG has the consumer marketing experience and connections to get Eroxon into retailers. The share price rose 5.58% to 0.53p.
FALLERS
River Global (LON: RVRG) has issued D shares to the holders of the A shares. The D shares will be entitled to receive a distribution of Liontrust Asset Management shares issued for the sale of the fund management business. The company will retain some shares in Liontrust and more than £2m in cash to help fund annual running costs of £400,000. The share price reflected the distribution by declining 62.5% to 2.25p.
Nativo Resources (LON: NTVO) is directing operational resources to the higher grade parts of the Tesoro concession in Peru. A mapping programme to target high grade material and optimise shaft positioning is being undertaken. So far, 46 tonnes of mineralised vein material extracted. There are financing discussions for the La Patona gold ore processing plant. Initial capacity would be 70 tonnes per day at 15g/t to 20g/t gold. The share price fell 13.5% to 0.225p.
Plugin overdraft provider Fiinu (LON: BANK) is taking a £7.3m write-down on the Everfex acquisition. There are arbitration claims against the sellers of Everfex. That write-down increases the 2025 loss to £10.4m. Conister Trust is set to launch Plugin Overdraft during the summer. Further discussions have been held with ten banks in Europe. Monthly burn rate is £220,000. Sami Kalliola is stepping down from the board but will still be involved in developing European white-label opportunities. The share price slipped 13.1% to 5.125p.