* A corporate client of Hybridan LLP
** Arranged by type of listing and date of announcement
*** Alphabetically arranged
**** Potential means Intention to Float (ITF) has been announced, or it is a rumour
*New product launch*
In addition to our Small Cap Feast, which will continue to bring you the latest IPO news and stories across the small cap universe, we will shortly be launching “Friday Takeaway”.
This will delve a little deeper on individual companies and focus on non-house stocks under £200m market cap to help raise awareness and beat the drum of various exciting growth companies.
Watch this space!
Dish of the day
What’s baking in the oven?
Bushveld Minerals 0.375p £8.7m (BMN.L)
The integrated primary vanadium producer announced its interim results for the six months ended 30 June 2024. H1 2024 Financial Highlights from continuing operations include revenue of US$25.6m (H1 2023: US$55.1m), Adjusted EBITDA loss of US$14.3m (H1 2023: US$12.6m profit) and cash and cash equivalents of US$1.0m (31 December 2023: US$1.3m).
Coral Products 9.25p £8.2m (CRU.L)
The company specialising in the design, manufacture and supply of injection moulded plastic products announced its audited final results for the year ended 30 April 2024. Highlights include revenues of £31.0m (2023: £35.2m), reflecting a challenging trading period in the second half of the financial year as well as the strategic exit of lower margin businesses which accounted for c. £2.5m of annualised sales. Underlying operating profit of £1.9m (2023: £2.7m) and underlying EBITDA of £3.2m (2023: £3.9m) in line with market expectations. The company had cash and cash equivalents of £2.0m at the end of the period (2023: £4.8m). Net debt was £9.4m (2023: £7.0m).
CPP Group 134.5p £11.9m (CPP.L)
The provider of real-time, digitally delivered assistance products announced its half year results for the six months ended 30 June 2024. Group revenue decreased by 2% to £89.1m(H1 2023 restated: £90.6m), Group EBITDA at £1.1m (H1 2023 restated: £2.1) and Loss before tax of £0.7m (H1 2023 restated: £3.0m loss). The Cash balance was £11.6m at 30 June 2024 (H1 2023: £16.0m; 31 December 2023: £19.0m).
Diaceutics 132p £111.5m (DXRX.L)
The technology and solutions provider to pharma and biotech companies announced its unaudited results for the half-year ended 30 June 2024. The Company reported 24% revenue growth to £12.3m, ARR of £14.2m as at 30 June 2024 (£13.7m at 31 December 2023) and a EBITDA loss of £1.3m (H1 2023 loss: £0.2m). Cash was £16.7m as of 30 June 2024 (31 December 2023: £16.7m). The Company believed they have an increased level of visibility to their full year revenue targets.
DP Poland 10.75p £98.7m (DPP.L)
The operator of pizza stores and restaurants across Poland and Croatia announced its unaudited results for the six months ended 30 June 2024. Group revenue increased by 25.9% to £26.4m (H1 2023: £21.0m) and Group EBITDA improved by 95.2% to £2.1m (H1 2023: £1.1m). Group loss for the period reduced to £(0.5)m in H1 2024 from £(1.6)m in H1 2023.
Cash at bank of £15.8m as at 30 June 2024 (£2.7m as at 30 June 2023) as a result of a fundraise in April 2024.
Helium One Global 0.975p £51.8m (HE1.L)
The helium explorer in Tanzania announced the following updates. The Company has now submitted a comprehensive Mining Licence (ML) application to the Ministry of Minerals and Mining Commission for the southern Rukwa Helium Project which encompasses the Itumbula, Tai and southern prospective areas for commercial development. A total of 888 sq. km of the Company's prospecting licences have now expired and the licences are now lapsed. These are licences that are deemed of limited prospectivity and or are poorly accessible, which will save the Company in excess of US$177,600 in annual licence fees.
Marula Mining 8.375p £16.9m (AQSE: MARU)
The African focused mining and development company announced that the first manganese exports sales under the Company's Mine Support Services Agreement with Kenyan company Gems and Industrial Minerals Limited, have been completed from the Larisoro Manganese Mine in Samburu County, Kenya. Exports sales of an initial 476 tonnes of manganese at an average grade of 37% manganese from the stockpiled manganese ore in Nairobi was completed. Marula is now due to receive 60% of the net proceeds from the sale of this initial manganese ore export.
MediaZest 0.095p £1.6m (MDZ.L)*
The creative audio-visual solutions provider announced it has secured more than £500,000 of new business over the past two months, with existing key customers continuing to roll-out digital signage installations across multiple sites. Some of these orders will be delivered in Q4 FY2024, while others will be realised in financial year 2025. These orders include a range of continued digital signage programmes with long-term clients and new projects for new clients. As a result of these additional orders, MediaZest remains on track to deliver year-on-year organic revenue growth and continues to target a return to profitability.
Physiomics 0.7p £1.4m (PYC.L)*
The mathematical modelling and data science company supporting the development of new therapeutics and personalised medicine solutions announced that it has been awarded a new contract by an existing, large pharma client. The project involves updating two models previously created for the client with newly generated clinical data. These models are based on the Company's proprietary Virtual Tumour platform and are developed to support dosing and scheduling decisions for the client's oncology combination therapies. The value of the contract is £65k and it is anticipated that it will be completed over the course of the current calendar year.
Zinc Media Group 69.5p £15.8m (ZIN.L)
The television, content and audio production group has won new production contracts worth £4m. There is a multi-million-pound commission for a global streaming platform from its documentary division, a biopic on one of the biggest pop bands of the 20th century. Although the editorial details are being kept confidential, the revenue is set to be included in the Finals to December 2024. The interims to June are to be announced on 2nd October and current market expectations for the full year are revenue of £41m and an EBITDA of £2.1m which is ahead of the previous year.
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