Xeros Technology (XSG) shares jump 104.62% to 66.5p as it wins new licensing agreement
Xeros Technology unveiled a new licensing agreement and positive test results for its filtering technology for washing machines with German company Hanning Elektro-Werke Gmbh & Co.
Under the terms of the 10-year, non-exclusive agreement, Hanning will manufacture and sell filters incorporating technology, enabling consumers to capture and easily and safely dispose of over 90% of microfibres. including microplastics, released during laundry cycles. The filters, which are built into the washing machine, are designed to last the life of a washing machine.
The technology company highlighted to investors that it will receive a royalty for every filter device sold by Hanning, and it expects to begin receiving revenues from Hanning in late 2023.
Frontier Development (FDEV) shares rise 19.85% to 1,294p amid record revenues
In a trading update released today, the Cambridge-based video gaming developer reported record revenue for the 12 months to 31 May 2022 - that’s a 26% rise in unaudited revenue.
It said base game unit sales of Jurassic World Evolution 2 exceeded 1.3 million units, while Warhammer 40,000: Chaos Gate - Daemonhunters was performing ahead of expectations.
Game releases in FY23 will include Jurassic World Evolution 2: Dominion Biosyn expansion and F1 Manager 2022, in June and August, respectively, as well as three new Foundry titles.
Revolution Bars (RBG) shares rise 7.26% to 16.25p as it expects to post higher earnings
In a trading update, the operator of 67 premium bars, trading mainly under the Revolution and Revolucion de Cuba brands, said strong trading has continued across the group, particularly from refurbished bars, although added that it was "not immune" to inflationary headwinds.
As a result, Revolution Bars told investors that it is confident of posting earnings slightly ahead of market expectations, particularly amid strong trading over the Jubilee bank holiday.
The Directors of the group said they are confident that adjusted EBITDA after rental charges could be slightly ahead of the top end of market expectations, which currently stand at £10m.
Tekmar Group (TGP) shares fall again by 45.25% to 13.25p amid formal sale process
Tekmar fell again today after it confirmed on Monday that it had begun a formal sale process to find a strategic partner to “aid growth opportunities” while strengthening its balance sheet.
The technology and services supplier also published an update for the six months ended 31 March, which revealed “challenging” trading. The company reported that its results were in-line with management’s expectations, with loss before tax up to £3.2m from £2.2m.
The company’s revenues of £13m had fallen from £13.9m when compared with the same period the prior year, while adjusted EBITDA stoof at a loss of £1.8m, up from £1.1m.