Hostels operator Safestay (LON: SSTY) improved interim revenues by 7% to £10.7m and the loss reduced from £947,000 to £113,000. Sales to the end of August were well ahead of last year and forward bookings are strong into next year. The lease of the loss making Venna hostel has been surrendered. Four new properties have been added this year. NAV increased by 17% to 49.8p/share. The share price recovered 10.9% to 25.5p.
Respiratory treatments developer Synairgen (LON: SNG) chief scientific director Dr Phillip Monk has stepped down from the board after 18 years. Dr Marcin Mankowski will lead the clinical development strategy for SNG001. There will be further board changes prior to the AGM in early October. The share price rose 8.89% to 3.92p.
Shield Therapeutics (LON: STX) shares have recovered some of yesterday’s loss. The developer of iron deficiency treatment ACCRUFeR had $8.1m in gross cash at the end of June 2024 and subsequently received a milestone payment of $5.7m. A $250,000 milestone payment from Canada is expected in the second half. The first half cash outflow was $5.8m. The share price rebounded 7.78% to 4.85p.
Kodal Minerals (LON: KOD) says critical equipment for the Bougouni lithium project in Mali has arrived at the Ivory Coast. Civil construction works are 85% completed at Bougouni. The share price improved 7.14% to 0.525p.
FALLERS
Signing up Donlim Group for a new licence did not offset the weaker trading news at laundry filtration technology developer Xeros Technology (LON: XSG). Indian licensee IFB has delayed the launch of new 9kg washing machine until next year and French environmental standards for microplastics have not been clarified. Donlim owns the Morphy Richards brand, and it will manufacture the XF3 external filter under licence from the middle of next year. The 2024 pre-tax loss estimate has been raised from £2.7m to £4.3m. The share price slumped 36.7% to 0.775p.
Cybersecurity services provider Smarttech247 (LON: S247) says that it will not achieve the expected 20% growth in revenues. It says there will be a modest shortfall. That means operating profit will be lower than expected. The share price slipped 20.8% to 10.5p.
Technology investment company Tern (LON: TERN) has launched a one-for-nine open offer to raise up to £601,000 at 1.25p/share to make further investments. This closes on 20 September. NAV was 2.5p/share at the end of June 2024. The share price declined 13.8% to 1.25p.
Weak demand from independent restaurants and bars in the UK and internationally held back the interims of ceramic products manufacturer Churchill China (LON: CHH). Independents are suffering from higher costs. Demand from national chains has held up better. Revenues fell from £44m to £40.6m, while the underlying pre-tax profit edged up from £4.7m to £4.8m. This is because capital investment has helped to improve margins. The interim dividend was raised 4.5% to 11.5p/share. The full year outcome is dependent on fourth quarter trading. The uncertainty knocked 8.8% off the share price leaving it at 985p.
Ex-dividends
GlobalData (LON: DATA) is paying an interim dividend of 1.5p/share and the share price declined 2p to 220p.
H&T (LON: HAT) is paying an interim dividend of 7p/share and the share price is 6.5p lower at 381.5p.
Ramsdens Holdings (LON: RFX) is paying an interim dividend of 3.6p/share and the share price dipped 2.5p to 225p.
RTC Group (LON: RTC) is paying an interim dividend of 1.1p/share and the share price fell 2.5p to 100p.
Solid State (LON: SOLI) is paying a final dividend of 72.5p/share and the share price slipped 10p to 1330p.