Admissions:
Optima Health (OPT.L) has listed on the AIM market. Following its spin-off from Marlowe PLC, Optima is a provider of technology enabled corporate health and wellbeing solutions in the occupational health sector. In the 12 months ended 31 March 2024, the Group reported revenue of £110.9m (FY23: £115.3m) and adjusted EBITDA of £18.0m (FY23: £21.0m). The Company did not raise any money on its Admission and listed at approximately £190m.
Delistings:
None
Potential **** Initial Public Offerings:
ITF announced:
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.
Airea 27p £10.4m (AIEA.L)
The UK design-led specialist flooring company supplying both the UK and international markets today announces its interim results for the six months ended 30 June 2024. Revenue decreased 5.6% to £9.3m (2023: £9.8m), EBITDA decreased to £0.6m (2023: £1.1m) and the cash and cash equivalent was £2.8m (2023: £4.9m). The Board anticipates a continued improvement in trading during the second half and the Group is trading in line with the Board's recently revised expectations for the full year.
Arecor Therapeutics 67.5p £25.5m (AREC.L)
The biopharmaceutical group announces its interim results for the six months ended 30 June 2024. Revenue increased to £2.03m (H1 2023: £1.67m), investment in R&D was £2.09m (H1 2023: £2.86m) in the period and the loss after tax stable at £4.64m (H1 2023: £4.53m). The cash position and short term investments was £2.53m (H1 2023: £6.61m). The Board continues to target achieving market expectations for revenue for 2024 though this remains subject to inherent uncertainty, such as the quantum of royalties on sales of AT220, the magnitude and timing of licensing transactions which are under active negotiation and the pace of the growth of Ogluo product sales through the remainder of the year.
Crimson Tide 135p £8.9m (TIDE.L)
A media company transitioning to being a provider of the mpro5 process management reported interims to June 2024. Revenue grew 3.3% to £3.1m, EBITDA increased from £0.1m to £0.3m, with a lower loss before tax of £211k. Product development improvements continue with a new web app version underway. There is more refined marketing producing a strong pipeline of opportunities of larger deals that may, however, take longer to close. In July, an all-share bid offer was rejected as inadequate and unattractive. The results of two tenders are expected in H2 from a global aviation company and Irish public service bodies. The company is cautious on revenue growth, although with improved gross profit margins at 88.2% and tight control of admin costs there should be EBITDA growth. There was a cash outflow and net cash reduced to £2.5m.
CT Automotive 56.5p £41.6m (CTA.L)
A designer, developer and supplier of interior components to the global automotive industry today announces its results for the half year ended 30 June 2024. Revenue decreased to £60.5m (H1 2023: £68.2m), adjusted EBITDA increased to £7.4m (H1 2023: £6.7m) and net debt decreased to £5.8m (H1 2023: £9.0m). Trading in the initial months of H2 24 has been robust across the Group and the Board anticipates that, with the successful margin improvement initiatives made across the business, profit before tax is on track to be in line with market expectations for the full year and the profit before tax margin is slightly ahead.
Ebiquity 23.5p £32.1m (EBQ.L)
The media investment analysis Company announces interim results for the six months ended 30 June 2024. Revenue decreased to £37.9m (H1 2023: £40.6m), adjusted profit before tax decreased to £1.5m (H1 2023: £5.0m) and net debt is flat at £15.3m (H1 2023: £15.0m). The Group's cost base is largely exacerbating the profit impact of revenue shortfalls. As revenue is expected to increase from early in H2, this operational leverage means that it will convert to profit at higher marginal rates. H2 Adjusted Operating Profit is expected to reach double-digit growth over H2 2023.
Malvern International 19p £4.6m (MLVN.L)
The learning and skills development partner announces its interim results for the six months ended 30 June 2024. Underlying revenues increased 22% to £5.1m (H1 2023: £4.18m), statutory profit after tax decreased to £0.14m (H1 2023: £0.22m) and cash at 30 June 2024 was £1.31m (H1 2023: £2.12m). Having taken advantage of improved market conditions following their investment in the business over the last three years, Pathways and Junior ELT continue to be the strongest performing divisions in terms of revenue and profit growth, and they are addressing the issues they face in the adult ELT division.
MTI Wireless 51.5p £44.6m (MWE.L)
The technology group focused on comprehensive communication and radio frequency solutions across multiple sectors announces that its antenna division has received an order from a system house for the manufacture of military antennas worth a total of approximately US$0.75m, which are to be delivered within 12 months.
Novacyt 64.7p £45.6m (NCYT.L)
The molecular diagnostics company with a broad portfolio of integrated technologies and services announces its unaudited interim results for the six-month period ended 30 June 2024. Group revenue increased to £10.3m (H1 2023: £3.3m), underlying opex costs of £12.1m proforma of (H1 2023: c.£14.7m), EBITDA loss before exceptionals of £5.6m (H1 2023: £5.4m) and a cash position at 30 June 2024 was £32.9m (31 December 2023: £44.1m). The new management team has now been in place for five months; during that time, they have significantly derisked the business by concluding the dispute with the DHSC, made considerable progress with the integration of two complex businesses and delivered cost savings with a clear road map to further right size the cost base of the Group.
Touchstar 107.5p £8.8m (TST.L)
The suppliers of mobile data computing solutions and managed services to a variety of industrial sectors announces its interim results for the six months ended 30 June 2024. Revenue decreased to £3.37m (H1 2023: £3.73m), the EBITDA decreased to £589k (H1 2023: £657k) and cash net of overdraft decreased to £1.74m (H1 2023: £2.76m). As expected, H1 24 was a quieter period for the business, the prospects for FY24 remain the same, with trading expected to achieve growth in the revenue year on year and H2 cash generation to be strong as timing factors in working capital unwind.
Zinc Media Group 67.5p £15.4m (ZIN.L)
The television, brand and audio production group announced the recommissioning of two popular series with a combined value of £4m in revenue across FY 24 and FY 25. Red Sauce, Zinc's popular factual label, specialising in high volume productions, has been recommissioned to produce a new 80-episode series of Bargain Loving Brits in the Sun. Filming is due to begin next month and continue into early FY25. Zinc's newest hit featuring Rob Rinder and Rylan Clark will also return for a new series, titled Rob & Rylan's Passage to India. These new contract wins, which span FY24 and FY25, reaffirm the Group's confidence that it currently continues to trade in line with market expectations.
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