Mobile data computing services provider Touchstar (LON: TST) has won a £1.5m contract with a petrochemical distribution client. There will be additional recurring revenues in future years. This underpins 2022 and 2023 expectations of pre-tax profit of £400,000 and £700,000 respectively. The shares rose 10% to 82.5p.
Online Blockchain (LON: OBC) says transactions on the Umbria Network cross-chain bridge, which enables users to move tokens between Ethereum and other blockchains, have increased by a factor of ten. Although, the highest volume was more than 2,000 transactions on 15 March. The share price jumped 69.6% to 23.75p.
Poolbeg Pharma (LON: POLB) has identified multiple novel drug targets for the treatment of respiratory syncytial virus. This has been achieved within eight months with its partner OneThree Biotech. This includes known drugs with phase 1 safety and efficacy data. The best candidates should be identified by the end of the year. The shares are 8.46% higher at 7.05p.
Wine retailer Virgin Wines (LON: VINO) has risen on the back of yesterday’s analyst note from Liberum, which declared it was a top pick for 2023. Virgin Wines did benefit from a Covid lockdown boost and there was some attrition, but net contribution from repeat customers is rising again. UK online market share has increased from 6.1% to 8.4%. Revenues are set to be flat this year, though, and higher costs will reduce pre-tax profit. The share price is 8.33% ahead at 65p.
Fintech firm Tintra (LON: TNT) expects to complete its funding round by the end of the month and it is progressing with its application to become a new bank. Tintra Money hopes to become an authorised electronic money institution by the first quarter of next year. Tintra has issued £327,000 worth of three-year convertibles (convertible at 10p a share) in payment for a loan. The share price rose 6.82% to 235p.
Applied Graphene Materials (LON: AGM) says it is not currently possible to raise cash from a share issue. More cash is required at the beginning of 2023. The shares slumped by 48.6% to 5.65p.
Personal care products supplier Brand Architekts (LON: BAR) reported a decrease in sales in the year to June 2022. They fell from £15.9m to £14.3m, even after an initial contribution of £800,000 from recent acquisition Innovaderma. International sales rose. The loss increased and the cash outflow from operations was £6.2m. There is still net cash of £11.3m, while the pension deficit was £2.4m. Supply chain problems continue. A return to profitability in 2023-24 is planned. The share price slipped 19.1% to 25.5p.
Beximco Pharmaceuticals Ltd (LON: BXP) increased 2021-22 net sales from £251.4m to £309.7m with growth coming from domestic sales and exports. However, profit after tax fell from £26.6m to £24m. No revenues are anticipated from Covid vaccines in the near-term. The share price fell 6.7% to 63p.
