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Inspecs sees improvement and ex-dividends

Slightly higher than expected 2022 revenues and profit were enough to push spectacles supplier Inspecs (LON: SPEC) was enough to push the share price 36.8% higher at 85.5p. The figures are still much worse than expected six months ago due to destocking and poorly performing businesses. Sales were flat at $246m, although there was growth before currency movements. Pre-tax profit is set to more than halve from $17.9m to $7.7m. Trading is improving.

Healthcare data analysis provider Diaceutics (LON: DXRX) beat expectations with revenues 44% higher at £20m, helped by currency movements, and margins are being maintained despite inflationary pressures. Diaceutics has secured two agreements with top ten global pharma companies. The order book is worth £15.6m. Investment in data and technology is being increased. The share price jumped 20.9% to 95.5p.

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Competitions organiser Best of the Best (LON: BOTB) reported interim revenues in line with expectations. Two midweek competitions have been consolidated, which will reduce revenues, but profit forecasts are maintained at £5.5m. New shareholder Globe Invest is in discussions with the company concerning potential international expansion. The share price is 15.9% higher at 475p – the highest it has been since July.

Bus operator Rotala (LON: ROL) is returning £10m to shareholders via a tender offer at 55p a share. The share price rose 17.1% to 48p. Eligible shareholder can tender 35.7% of their shares. Cash will be generated by the sale of the Bolton depot and bus fleet.

Battery technology developer Ilika (LON: IKA) will receive a UK grant of £2.8m for development of its Goliath battery and taking a leading role on a 24-month Faraday Battery Challenge collaboration with BMW and Williams. This is designed to develop cost-effective, recyclable batteries. The share price continued its improvement rising a further 15.3% to 56.5p.

Supercapacitors manufacturer CAP-XX (LON: CPX) is the worst performing company with a 29.1% decline to 3.175p after it reported that interim revenues were one-third lower at A$1.6m.  A full year loss of A$1m is expected.

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Window fittings manufacturer Titon (LON: TON) slipped into loss last year and it is set to continue to lose money this year. Software problems appear to have been sorted out and supply chain problems are easing. Revenues should start to grow again. The share price slipped 6.67% to 70p. Net cash is £1.7m and Titon is trading at discount to book value of well over two-fifths.

Animalcare (LON: ANCR) says 2022 revenues fell from £74m to £71.6m. Spending on pets has fallen from high levels during Covid lockdowns and distribution agreements ended. Net debt is £5.4m. The share price dipped 6.25% to 187.5p.

Mixer drinks supplier Fevertree Drinks (LON: FEVR) surprised the market with full year revenues 3% below expectations. This led to EBITDA guidance being cut to £36m- £42m. Taking the mid-point of the range that is a reduction of more than one-fifth on the previous consensus forecasts. Costs are continuing to rise, and profit could be flat in 2023. The share price fell 4.43% to 1067.5p, although it had been below 1000p at one point.

Ex-dividends

BP Marsh (LON: BPM) is paying an interim dividend of 1.39p a share and the share price is unchanged at 338p.

Brickability (LON: BRCK) is paying an interim dividend of 1.01p a share and the share price is down 1p to 64.5p.

Panther Securities (LON: PNS) is paying a dividend of 10p a share and the share price is unchanged at 315p.

RWS Holdings (LON: RWS) is paying a final dividend of 9.5p a share and the share price is 8.1p lower at 378.7p.

Solid State (LON: SOLI) is paying an interim dividend of 6.5p a share and the share price is unchanged at 1325p.

Tracsis (LON: TRCS) is paying a final dividend of 1.1p a share and the share price is unchanged at 981p.

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