* 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
Dish of the day
Delistings:
Bank of Cyprus Holdings (BOCH.L) has delisted from the Main Market, the Equity shares segment (international commercial companies secondary listing)
Whats baking in the oven?
Media speculation:
GenIP aims to list on the AIM market on 2 October 2024. It is targeting to raise £1.5m and anticipating a £6.5m market cap. GenIP is a portfolio company of London-based intellectual property investor Tekcapital PLC (TEK.L). GenIP is using Generative Artificial Intelligence (GenAI), whose mission is to empower organisations to better evaluate and commercialise technology discoveries through two distinct, yet complementary, services namely; providing bespoke enhanced research reports assessing the market potential for new technological innovations by using the Company's GenAI driven proprietary software, InventionEvaluator; and providing executive recruitment services to match technology organisations with experienced executives and business leaders using the Company's GenAI-driven proprietary software, Vortechs.
Banquet Buffet***
Engage XR Holdings 0.7p £3.7m (EXR.L)
The Metaverse Spatial Computing technology company announces its unaudited interim results for the six months ended 30 June 2024. Revenue of c.EUR2.2m, up 5% (H1 2023: EUR 2.1m) with EUR0.8m of contracted revenue due to be recognised in the second half, EBITDA loss was EUR 1.8m (H1 2023: loss of EUR 2.2m) and cash balance at 30 June 2024 of EUR5.5m (31 December 2023: EUR7.9m). The Company continues to see positive engagement with potential customers with a strong pipeline of opportunities, particularly in North America and the Middle East. The Company remains focused on deepening its relationships with its platform partners such as Meta.
Judges Scientific £100.5m £667.8m (JDG.L)
The group focused on acquiring and developing companies in the scientific instrument sector announces its unaudited interim results for the six months ended 30 June 2024. Revenue decreased to £60.8m (H1 2023: £61.3m), Adjusted pre tax profit decreased to £10.8m (H1 2023: £12.8m) and cash balance at 30 June 2024 was £6.9m (H1 2023: £13.7m). A stronger second half expected for the Group with no change to existing guidance for the full year, but continued challenging market conditions and short-term vulnerability to the timing of orders and revenue.
Maintel Holdings 255p £36.6m (MAI.L)
Interims to June are reported from this transforming provider of cloud managed communication services. On marginally reduced revenue by 1.8% to £46.6m the loss before tax, which included £1m of exceptional charges, reduced to £0.3m from £2.9m, and the adjusted EBITDA improved 28% to £4.8m. The recurring revenue improved to 78.7% of total revenue. MAI ‘s new strategic direction is to move away from a communications generalist to a specialist, focusing across three key strategic pillars; Unified Communications & Collaboration, Customer Experience and Security & Connectivity. The net debt decreased 27.1% to £15.6m and operating activities generated £6.6m cashflow.
Northern Bear * 56.5p £7.8m (NTBR.L)
The holding Company of the group of companies providing specialist building and support services headquartered in Northern England and serving customers across the UK provides an update on trading for the Company and its subsidiaries. Ahead of that meeting, Northern Bear confirms that the Group has continued to trade in line with management and market expectations since publication of the preliminary results on 18 July 2024. The Group's interim results are expected to be released in November 2024, at which point the Board will provide further guidance as to the full financial year ending 31 March 2025.
Petro Matad 2.25p £33.4m (MATD.L)
The Mongolian oil Company announces its unaudited interim results for the six months ended 30 June 2024. The loss before tax increased to $2.56m (H1 2023: $1.90m) and the cash balance as at 30 June 2024 was $1.93m (30 June 2023: $8.39m). As previously announced, a successful fundraise totalling $9.4m of gross proceeds was completed in July 2024 to fund commencement of production and development of the Heron oil discovery in Block XX and to continue to develop renewable energy projects through the SunSteppe Renewable Energy (SRE) joint venture.
Portmeirion Group 222.5p £30.6m (PMP.L)
The owner, designer, manufacturer and omni-channel retailer of leading homeware brands in global markets announces its results for the six months ended 30 June 2024. Revenue decreased to £36.6m (H1 2023: £44.1m), EBITDA decreased to £0.1m (H1 2023: £2.7m) and cash at end of period was £733k (H1 2023: £1.46m). Despite short term market pressures, Portmeirion remains confident in its medium and long term ambitions to grow the top line sales and significantly improve operating margins. Portmeirion has taken market share across key markets, continues to drive further online penetration with established brands and has a leaner cost base across operations and global business.
Powerhouse Energy Group 1.075p £45.1m (PHE.L)
The technology Company pioneering integrated technology that converts non-recyclable waste into low carbon energy together with a revenue generating engineering consulting division (Engsolve) announces its unaudited half year report for the six months ended 30 June 2024. Revenues increased to £385.7k (H1 2023: nil, Gross Profit increased to £98.2k (H1 2023: nil) and £2.7m cash at bank at 30 June 2024 (30 June 2023: £4.9m). Completion of the Feedstock Testing Unit is expected in late Q4 2024 enabling the Company to accelerate the development of commercial applications for its technology. In order to increase awareness and drive further revenue, Engsolve has engaged an experienced industrial sales originator to identify new client and project opportunities.
Prospex Energy 5.4p £21.0m (PXEN.L)
The investment Company announces its unaudited Interim Results for the six months ended 30 June 2024. The Company reports a £275k loss after taxation (H1 2023 loss: £888k) and cash and cash equivalents of £10,99k (30 June 2023: £395k). The valuation undertaken at 30 June 2024 resulted in no change in the net book value of investments. Loan capital repayments in the period were £168k and interest payments were £6,753. All debt finance and interest accrued from the Convertible Loan Notes issued in September 2022 was settled from accumulated cash within the Company during the reporting period. No further debt-finance has been raised subsequently.
Tandem Group 162.5p £8.9m (TND.L)
The designers, developers, distributors and retailers of sports, leisure and mobility equipment announces its unaudited interim results for the six months ended 30 June 2024. Group revenue remained the same at £9.8m (H1 2023: £9.8m), the loss before interest and taxation was £0.4m (H1 2023: loss of £1.0m) and cash and cash equivalents decreased to £805k (H1 2023: £1.99m). Tandem is relocating its Hong Kong offices in October within the same area, which will provide further cost efficiencies for the year.
Trakm8 Holdings 6.25p £3.1m (TRAK.L)
The global telematics and data insight providers chairman John Watkins will make the following statement on current trading at Trakm8's AGM being held today. To date, Fleet and Optimisation revenues are considerably ahead of the comparable period last year, with strong software sales due to contract extensions at Optimisation clients. In contrast, the company is disappointed that Insurance revenues continue to be depressed because of the slower rate of capacity being restored to customers and the running down of high levels of inventory that those customers have been carrying. Unaudited revenues for the six months ending 30 September 2024 are expected to be modestly ahead of the same period last year, and although salary and marketing costs are running higher than last year, the higher margin achievable from software sales is anticipated to compensate and lead to half year profitability broadly in line with first half of last year.
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