Digital marketing company Silver Bullet Data Services (LON: SBDS) has disappointed since it joined AIM, but the latest interim trading statement shows a 76% increase in revenues to £4.1m. That growth and reduced costs have helped to reduce the interim loss. The company is benefiting from the move to customer privacy-based marketing services. The share price recovered 33.9% to 37.5p, compared with a June 2021 placing price of 257p.
Workspace management software provider SmartSpace Software (LON: SMRT) has increased annual recurring revenues by 21% to £5.8m, while interim revenues on a constant currency basis were 15% ahead at £2.7m. The disposal of A+K means that there was net cash of £2.2m at the end of June 2023. The full year loss could be more than halved to £1.3m. The share price increased 32.4% to 49p. Chief executive Frank Beechinor acquired 120,587 shares at 41.3p each, which more than doubles his shareholding. Finance director Kristian Shaw bought 33,453 shares at 44.8p each and 45,000 shares at 40p each. Non-exec Philip Wood acquired 29,000 shares at 40.16p each.
Trinity Exploration & Production (LON: TRIN) is the best performer today following the success of the Jacobin exploration well. The oil and gas company has found a virgin-pressured reservoir in a mature basin. This suggests a greater level of resources across the Palo Seco area. Flow testing will commence in September. The share price jumped 30.1% to 96.5p, but it is still slightly down since the beginning of the year.
Health and safety services provider PHSC (LON: PHSC) returned to profit in the year to March 2023, although the previous year’s loss was due to write-downs of goodwill. Even excluding those write-downs there was an improvement from £216,000 to £305,000. Revenues fell from £3.57m to £3.44m and gross margins improved. NAV is just over 30p/share, although nearly two-thirds of that is goodwill. The share price moved up 27.6% to 18.5p.
FALLERS
It appears Silvercorp Metals Inc is unlikely to go ahead with its bid for Celsius Resources (LON: CLA) due to shareholders being unhappy with the proposed 0.16p/share bid. The recent award of the environmental licence for the MCB copper gold project has raised the value of the project. Silvercorp Metals Inc recently sold 60 million shares at a gain on the original subscription price, reducing its stake to 12.1%. New approaches will be considered. The Celsius Resources share price declined 44% to 0.7p.
MyHealthChecked (LON: MHC) interim revenues slumped from £9.8m to £2.5m due to a reduction in demand for Covid tests. There was £5m in the bank at the end of June 2023. The launch of home testing kits in Boots is still at an early stage. Interim results will be published on 19 September. The share price fell 38.1% to 9.6p.
Alien Metals (LON: UFO) has raised £2m at 0.2p/share. The share price slumped 34.2% to 0.1875p during the week. The share price was 0.28p prior to the placing. The cash will be used for exploration. Offtake agreements are being negotiated for the Hancock iron ore project.
Tern (LON: TERN) finance boss Sarah Payne is leaving, and a part-time, non-board replacement will be appointed. Investment director Matthew Scherba will become chief executive of Konektio. Business development director Bruce Leith is leaving the board but staying with the company. Other cost savings are being made and overheads could be reduced by two-fifths. The share price slipped 32.4% to 5.75p. That is still higher than two weeks ago.
