Maritime technology provider SRT Marine Systems (LON: SRT) reported interims in line with expectations by swinging from a loss to a pre-tax profit of £3m as income from sizeable contracts starts to come through. Net debt has fallen to £4m since the end of 2024. Cavendish is not producing forecasts but says that this year revenues could reach £84m, compared with £14.8m last year. The share recovered a further 26.1% to 58p.
Wines retailer Naked Wines (LON: WINE) has outlined plans to build up its cash, partly by reducing inventories, and return to annual revenue growth of 5%-10%. Cost cutting and focusing on the core members will help to improve EBITDA to more than £10m. If the strategy is successful, cash could reach £100m by 2030, which is nearly double the market capitalisation, and some of this could be returned to shareholders. In the short-term revenues will decline as the company focuses on the profitable base rather than chasing revenues. The share price jumped 23.7% to 77.95p.
Mobile Streams (LON: MOS) says online casino and sportsbook Estadio Gana has launched in Mexico. Mobile Streams has a 29.9% stake in Estadio Gana with an option to increase it to 42.1%. Further products will be added to the service. The share price improved 23.1% to 0.64p.
United Oil and Gas (LON: UOG) has extended its Walton Morant licence in Jamaica by two years to 31 January 2028. This provides time to find a farm-out partner. Multiple parties have indicated interest in the project, which has multi-billion barrel potential. The share price rose 15.2% to 0.095p.
FALLERS
Financial website operator ADVFN (LON: AFN) plans to cancel its AIM quotation. The board believes that the current share price and poor liquidity mean that it is difficult to make acquisitions. There are plans to organise a matched bargain facility with JP Jenkins. Interim revenues fell from £2.29m to £2.02m, although lower admin expenses meant that the loss was lower. There is £3.5m of cash. The share price slumped 46.2% to 7p.
Education software and services provider Tribal Group (LON: TRB) had an improved second half, but there is continued uncertainty about the UK education sector and investment. There is also a switch in focus from perpetual licences to a subscription revenues model. In 2024, revenues improved 6% to £90m with cloud revenues increasing by one-quarter to £10.4m. Pre-tax profit dipped from £6.4m to £5.9m. Net debt was reduced to £5.2m. This year’s trading has started positively but it might be difficult to grow revenues in 2025. The share price declined 5% to 38p.
Staffing company Empresaria (LON: EMR) is focusing on its core operations in the UK and US, particularly IT and healthcare, and intends to dispose of more non-core operations. Those businesses made just over 50% of operating profit before central overheads and could raise enough to wipe out net debt of £15.3m. In 2024, group revenues dipped 2% to £246.2m and net fee income was down 12% to £50.4m. There was a slump in permanent recruitment income. Underlying pre-tax profit fell from £3.5m to £2.2m. There are no signs of an upturn in the recruitment market. The share price fell 5.77% to 24.5p.
ITM Power (LON: ITM) has announced a plant engineering integration contact for EDF’s Tees Green hydrogen project. There had already been a reservation of four Neptune 2 electrolyser units and this contract will involve the integration of these units into the overall project. The share price dipped 4.98% to 27.08p.
Ex-dividends
Duke Capital (LON: DUKE) is paying a dividend of 0.7p/share and the share price dipped 0.5p to 28.75p.
Fonix (LON: FNX) is paying an interim dividend of 2.9p/share and the share price fell 3.5p to 188.5p.
MTI Wireless Edge (LON: MWE) is paying a final dividend of 3.3 cents/share and the share price slipped 2.5p to 53p.
Wynnstay Group (LON: WYN) is paying a final dividend of 11.9p/share and the share price fell 5p to 295p.