Education administration software provider Tribal Group (LON: TRB) says 2024 revenues and cash flow are ahead of expectations. Singer raised its forecast revenues by 5% to £90m, while pre-tax profit is expected to be £12m. There was £5m of legacy contract revenues that are reducing, so 2025 revenues are expected to be flat, which would mean 2025 pre-tax profit of £10.4m. The share price recovered 21% to 47.2p.
Fusion Antibodies (LON: FAB) says that the OptiMAL validation project is proceeding as planned and the National Cancer Institute has identified a number of antibody expressing cells that positively bind to their targets of interest. Analysis of the DNA by Fusion Antibodies will take several months. The share price imrpved 8% to 8.75p.
Artemis Resources (LON: ARV) has identified targets for drilling at the Karratha gold project in early February. Three targets will initially be tested. The share price rose 6.25% to 0.425p.
Europa Oil & Gas (LON: EOG) is hoping to secure a full carry on an exploration well in Equatoria Guinea on the Barracuda gas prospect. The Irish government appears more favourable to oil and gas exploration and that will make it easier to find a partner there. There is sufficient cash for 2025 requirements. The share price is 6.25% higher at 0.85p.
FALLERS
Metals One (LON: MET1) is raising up to £5m, or £3m after costs, plus up to £100,000 from a retail offer. A convertible loan note will raise £600,000, which will be interest free, and £4.4m via a warrant instrument. There will also be a ten-for-one share consolidation – the retail offer price is then 2p. The effective exercise of the warrant instrument depends on the consolidation and shareholder approval, plus a 24-month consulting agreement with MavDB costing £2m. The PEA for the Finland – Black Schist Ni-Cu-Co-Zn project has been published. The share price slumped 47.1% to 0.225p.
Autoantibody profiling company Oncimmune (LON: ONC) should double revenues to £3m in 2024. Subsequent interim revenues are set to rise by one-fifth to £1.4m. New contracts are being added, but the process has become slower. There are potential deals that could have a large effect on the second half, but the timing is uncertain. One contract is deferred into next year. The annual cost base has been lowered to £5m. Additional finance will be required. The share price dipped 21.7% to 9.75p.
Celadon Pharmaceuticals (LON: CEL) says it should receive the remaining £103,000 from its committed credit facility in February. There is enough cash to last until March if the drawdown is further delayed. Discussions have ended with one previously mentioned potential finance provider, but there are still other potential providers. The share price decreased 19.4% to 14.5p.
Maintel (LON: MAI) revenues were lower than expected in 2024 and net debt was higher than anticipated at £16.7m. Revenues were £97.9m and the loss of contracts has reduced forecasts for 2025. The focus has been higher margin business. Pre-tax profit is still estimated to have improved from £3.9m to £4.8m in 2024, but earnings are lower. A permanent chief executive is being recruited. The share price declined 15.2% to 235p.
Growth in the human capital management business in North America offset delays in other parts of Newmark Security (LON: NWT) in the first half. Revenues fell 2% to £10.2m and the loss increased from £126,000 to £431,000. There is an increasing focus on recurring software revenues and that is helping to edge up overall gross margins. The second half is always stronger, and Newmark Security has built up a base in the North America to enable further growth in the region, while UK and European markets are more subdued. The share price fell 9.38% to 72.5p.