In the 24 weeks to 17 June 2022, the revenues of leisure products and toys distributor Tandem Group (LON: TND) have fallen by nearly one-third and Cenkos has downgraded its 2022 forecast revenues by £8m to £30m. the share price fell by one-fifth to 240p. Bicycle and home and garden product sales have more than halved so far this year. Pre-tax profit expectations have been slashed from £3.6m to £1.4m and this means that Tandem is likely to go from a net cash position to net debt of £2.6m. There has been an improvement in trading in recent weeks, but the outlook remains uncertain. Construction of the new Birmingham warehouse is on track.
Virtual reality software developer Engage XR (LON: EXR) has announced two partners for its enterprise focused Metaverse, ENGAGE Link. They are HITC, which will be in the enterprise plaza, and The Vitual Human Interaction Lab at Stanford University, which is in the education plaza. ENGAGE Link should launch in the fourth quarter of 2022. The core ENGAGE platform is generating increasing revenues and D’Carrick Co has renewed for three years at a total value of €300,000, an increase from €70,000 a year. The Engage XR share price has been rising for a week and today it added 14% to 14.25p.
Contact centres operator iEnergizer (LON: IBPO) released results for the year to March 2022 and proposed a final dividend of 13.8p a share. That takes the total for the year to 21.92p a share, an increase of 55%. The share price rose 9% to 490.5p. Total revenues were nearly one-third higher at $265.2m and pre-tax profit was 55% ahead at $83.2m. Net debt fell from $115.9m to $100m. Growth should continue with new customers and contract extensions. There was no more news about the strategic review or talks with Mumbai-based BPEA Advisors Private Ltd concerning a potential bid. Canaccord Genuity has been appointed joint broker.
Bango (LON: BGO) has signed an agreement with an unnamed multinational technology company, which will use the Bango platform for carrier billing and bundling services for app store payments and subscription services. This will not have an impact on the current financial year. Bango shares rose 11.5% to 141p.
Argentina-focused oil and gas company Phoenix Global Resources (LON: PGR) has risen a further 0.55p to 6.55p following news earlier in the week concerning discussions with 84% shareholder Mercuria Energy Group about a cancellation of its AIM quotation and a cash offer to purchase shares from independent shareholders at 7.5p each.
Ex-dividends
Support services provider Tribal Group (LON: TRB) is paying a 1.3p a share final dividend and the share price fell 2p to 86p.
Identification services provider GB Group (GBG) is paying a 3.81p a share final dividend and the share price declined 7.5p to 435.7p.
Patent translation services and software company RWS (LON: RWS) is paying a 2.25p a share interim dividend and the share price slipped 4.5p to 349.9p.
Lloyd’s insurance underwriting services provider Helios Underwriting (LON: HUW) is paying a 3p a share final dividend and the share price is unchanged at 162.5p.
Photonics company Gooch & Housego (LON: GHH) is paying a 4.7p a share interim dividend and the shares have risen 15p to 901p.
