Admissions:
None
Delistings:
None
Audioboom 420p £66.35m (BOOM.L)
The podcast Company made a trading update for the Y/E December 2024 which was ahead of expectations. Its revenue increased 13% to $73.4m with an EBITDA of $3.4m compared to losses. There was significant growth of Showcase, the scalable, higher gross margin, tech-based, global advertising marketplace to revenue 56% higher at $23.1m. This is the heart of continued growth as the ad-tech marketplace enables brands to target audiences at scale helping podcasters, on the Audioboom Creator Network, to maximise content value. The Y/E cash position improved marginally to $3.9m with a further $3.1m available in an overdraft facility. The reported contracted revenue is more than $54m and anticipates 2025 will be a record year.
Cora Gold 2.3p £10.4m (CORA.L)
The West African focused gold Company announces an updated Mineral Resource Estimate (MRE) at its flagship Sanankoro Gold Project, in southern Mali. Cora drilled a further 2,669m, which was primarily to de-risk the MRE and convert near surface Inferred Mineral Resource material to higher-confidence Indicated. This resulted in one-million-ounce resource estimate with the potential for further mineral growth. The CEO stated that, “It's been well established that the more we drill, the more we find, and as a project it is far from a finished. It seems an opportune time for a potential a high value, low cost, oxide gold project.”
CPP Group 99.5p £8.94m (CPP.L)
The provider of real-time assistance services which reduce disruptions to everyday life for millions of people, provides a trading update for the Y/E December 2024. The revenues from continuing operations are expected to be in-line with market estimates at c. £156m which is down from the restated: £173.4m and the EBITDA of £1.4m is just above last year’s £1.3m. It’s seen as a solid trading performance for the year given the adverse currency headwinds. The Group's focus will continue to be to growing Blink which now provides travel disruption and cyber solutions to 28 partners across 22 geographies. Blink's solutions, which are digitally delivered, are included in over 1.5 million customer policies, with some 615,000 flights tracked and 8,000 automated claims resolutions processed during 2024. Blink ended the year with 100% renewal rate of existing contracts and increased its annual recurring revenue. The results are due to be published on 25 March 2025.
CREO Medical Group 18.75p £76.25m (CREO.L)
The medical device Company focused on the emerging field of minimally invasive surgical endoscopy for pre-cancer and cancer patients announces that the first robotic-guided microwave ablation (removal or destruction of a body part or tissue) of cancerous lung tissue cases have commenced at a leading UK hospital. This is the second site to have performed microwave ablation procedures for lung cancer. The Programme will continue to roll-out through-out 2025 to support the collection of clinical evidence ahead entering the commercial phase.
Distil 0.08p £1.63m (DIS.L)
The premium drinks brands including RedLeg Spiced Rum, Blackwoods Gin and Vodka, and Blavod Black Vodka, issues a trading update for the Q4 24. Its revenues decreased 59% to £233k with volumes 56% lower and a 6% reduction on gross margins. Costs remain constant, but after a 55% decrease in advertising and promotional spending. As a result of continuing tough market conditions, management decided to appointed Global Brands to include total UK trade to manage the UK Distribution as it is better placed to use its extensive sales network, and proprietary logistics, and warehouse capabilities.
Eleco 141p £117.47m (ELCO.L)
The specialist software provider for the built environment yesterday announced that its 100% owned subsidiary has acquired PMI Software. The EU6m deal is to be paid in two tranches from existing cash resources and for the 12 months to November 2024, its revenue was approximately EU2.7m with an Adjusted EBITDA of EU0.6m. PMI’s provides SaaS Computerised Maintenance and Management Software and specialist services used by odver 100 blue-chip international manufacturing companies. Its customers include Coca Cola, Heineken and Keppel Data Centres. Using its robust software PMI has built a reputation for supporting clients in highly regulated sectors, including life sciences and healthcare. The combined group is better placed to enhance productivity, safety and compliance for its customers through digital transformation of their processes.
Finseta 35.00p £25.03m (FIN.L)
A foreign exchange and payments solutions Company offering multi-currency accounts to businesses and individuals through its proprietary technology platform updated on trading for Y/E December 2024. The strong H1 trading momentum was sustained and an increase in underlying Revenue of around 26% to £11.3m as expected. This growth was driven by a 16.9% increase in active customers to 1,059 reflecting expansions of its sales team, introducer network, and a sustained focus on providing services. An improvement in gross margin to c. 65.5% from 63.4% is expected with EBITDA of £2m up from £1.7m. The net cash is £0.6m up from £0.2m. Growth is expected to continue as a result of the corporate expansion along with several significant strategic initiatives.
Lifesafe Holdings 6.75p £3.23m (LIFS.L)
The fire safety technology business with innovative fire extinguishing and prevention fluids and fire safety products yesterday announced that it had received a purchase order for 1,000 litres of its Wildfire Pro fluid from its North American Distributor. It’s to support the response to the wildfires in Los Angeles and the Wildfire Pro fluid not only extinguishes wildfires, but is an effective fire retardant. The chairman stated that although it is early days, he is convinced that the fluid can make a real difference and impact fighting wildfires as well as saving lives and property. The US market is estimated at $550m with a world market of $1bn.
Nexteq 63.50p £38.46m (NXQ.L)
The technology solutions provider to customers in selected industrial markets, mainly gaming, reports a Trading update for the Y/E December which was in line with expectations. Revenue is 24% lower at $86.7m reflecting a backdrop of economic challenges, industry de-stocking, and the delay of several customer projects. As it predicted, gross margins were maintained at historically high levels with operating costs reducing as expected. The Y/E cash was higher at $29.1m (FY23: $27.9m), reflecting continued healthy operating cash flow generation. The share buyback programme returned $6.7m of cash to shareholders. It was a tough trading year, but looking forward the new senior leadership team is focussed on delivering a three-year plan for significant growth, driven by organic growth alongside M&A activity to accelerate the growth in target market verticals.
XAAR 74.2p £50.87m (XAR.L)
The inkjet printing technology group issues a trading update: Revenue for Y/E December 2024 expected to be 11.2% lower at £62.7m. Revenue growth in new markets has been encouraging, but ongoing and significant weakness in ceramics, particularly through the second half year, has held back overall results. Gross margin rates are in line with expectations and, coupled with careful cost management, means the Group anticipates reporting a modest full year PBT, but lower than last year’s £2.9m although in line with previous expectations. The year-end net cash position remains robust at some £8.2m compared to £5.7m and there is a £5m undrawn credit facility. There are a significant number of immediate pipeline opportunities particularly in applications where Xaar technology has a competitive advantage. Management is optimistic about future growth, but presently there are a wide range of outcomes possible for FY25 and further details will be reported on Tuesday 25th March.
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