It looks like the market was more concerned by the challenges than it was impressed by the achievements as the shares were off 6.8% at 20.5p.
Net revenue fell 14% year-on-year despite a supportive platinum price, as production volumes fell.
Yuan Low at Shore Capital said production may have been down in a challenging quarter but “encouragingly, Sylvania was nonetheless still able to grow its cash balance” despite paying out US$1.3mln on its maiden dividend.
2.45pm: Cambridge Cognition signs first deal in India
The shares took a shoeing in December when losses were deeper than expected but they were up 13.9% at 90p today as the brain health specialist said it had earned an upfront payment of more than £200,000 after signing a deal with a major pharmaceutical company to deliver online neurological testing to patients in India using the Company's cloud-based CANTAB Connect platform.
The new product being developed by Cambridge Cognition will enable general practitioners to consistently conduct expert neuropsychological assessments in 20 minutes without the need for formal training.
Fascinating new research published in @Brain1878 reveals a novel approach to #Alzheimers that may one day make the reversal of memory loss possible. Discover more via @NeuroscienceNew https://t.co/KVQTwjjlbv— Cambridge Cognition (@CANTABconnect) January 25, 2019
2.00pm: SRT marine sinks after announcing discounted share placing
The shares, which closed at 36.75p last night, were down 9.5% at 33.25p in afternoon trading.
The funds raised will be used to accelerate the development of coast guard specific system functionality in order to meet project delivery schedules for expected new contracts; to expand and strengthen the company's systems delivery and support team and provide the company with additional working capital.
12:45pm: Redhall sinks deeper into the red
The health & safety-focused engineering firm’s shares lost around one-sixth of their value as the company reported a loss before tax of £4.41mln for 2018, compared to a loss of £1.10mln the year before, including £3.85mln of one-off charges relating to discontinued operations (2017: £1.08mln).
"Market conditions remain encouraging in the majority of the group's core sectors and the group benefits from a secure order book and a strong pipeline of opportunities,” said Martyn Everett, the chairman of Redhall.
11.30am: FireAngel falls to earth after another profit warning
Having issued a profit warning in November, a grim trading update from FireAngel Safety Technology Group PLC (LON:FA.) should not have been a surprise.
Nevertheless, the shares tumbled 6.2p to 33p as the home safety products developer said results for 2018 are expected to be below market expectations, specifically at the underlying operating loss level.
When did you last test your #CarbonMonoxide alarms? Don't forget to test your #COalarms when testing your smoke and heat alarms. Spare a few minutes to keep you, your family and home safe! #TestItTuesday pic.twitter.com/X0chtXZtyu— FireAngel (@fireangelsafety) January 29, 2019
Sales for 2018 are now expected to be about £37.6mln, down from £54.3mln in 2017 and a shade below the consensus forecast of £38mln.
The underlying operating loss is expected to be roughly £2.0mln, versus a profit of £4.7mln the year before.
10.30am: A bit of money to keep the wheels turning at Challenger Acquisitions
The investment company agreed a couple of weeks back to sell its US$300,000 investment in this project back to the developers.
The shares were up 13.5% at 0.105p.
9.30am: Alexander Mining to continue Nomadic existence; Blue Star buoyed by Satoshi Pay agreement with Axel Springer
It has given the gig to Cairn Financial Advisers.
The company had until 1 February – tomorrow – to appoint a new Nomad, otherwise trading in the shares would have been suspended until it had found one.
The shares were up 28% at 0.08p on the development.
Blue Star Capital PLC (LON:BLU), which recently abandoned plans to buy the 69.9% of Satoshi Pay that it does not own, said the micropayments specialist has signed a collaboration agreement with German publishing giant, Axel Springer.
The two parties will begin working on a joint offering, enabling users to pay for content with the digital SatoshiPay Wallet.
Shares in Blue Star, which backs technology start-ups, were up 19% at 0.16p in early deals.
Proactive news headlines:
Trading in discoverIE Group PLC’s (LON:DSCV) fiscal third quarter continued strongly leaving the group on track to meet full-year earnings expectations.
GP surgery property owner Primary Health Properties PLC (LON:PHP) raised its dividend for a 22nd year as it played down Brexit uncertainties. “Whatever the final outcome and consequences of Brexit for the UK it is unlikely to have a direct impact on the primary health centres we invest in,” said Harry Hyman chief executive.
Shefa Yamim (ATM) Ltd (LON:SEFA) has released the results from a bulk sampling at Zone 2 of its Kishon Mid-Reach project in Israel.
Scancell Holdings PLC (LON:SCLP) said in its interim results it has the cash to advance its pipeline of immunotherapy products.
SkinBioTherapeutics PLC (LON:SBTX) said there are no safety or compliance concerns with people taking part in a test of the company’s skin cream. Half the 120 volunteers have been through the trial process with the study set to complete as expected during this quarter.
Cell therapy specialist ReNeuron Group PLC (LON:RENE) said new data will be presented that demonstrate the feasibility of scaling up production of ReNeuron's CTX-derived exosomes. Exosomes are nanoparticles released by cells that are believed to play a key role in cell-to-cell communication.
A ban on tenant fees from June will have less impact than expected on Belvoir Letting PLC (LON:BLV). Originally, Belvoir, which runs the UK’s second largest letting network, forecast the ban would knock 8% from gross profits.
IronRidge Resources Limited (LON:IRR) has issued an update for its Cape Coast lithium portfolio in Ghana. The exploration company said it had completed 4,684 metres of reverse circulation drilling at the Abonko target and Eqoyaa lithium project which had returned visible spodumene intersections with assays pending.
Redx Pharma Plc (LON:REDX) is exploring options for Novel Bacterial Topoisomerase Inhibitor (NBTI) programme with other parties potentially interested in licensing the project after Deinove said it has decided not to exercise their option. The firm said the decision by Deinove follows a period of nine months of evaluation during which the group had sole rights to develop the programme.
Rainbow Rare Earths Ltd’s (LON:RBW) CEO Martin Eales believes the miner now has a plan in place take its financial performance to break-even and beyond.
Acquisitive oiler Diversified Gas & Oil PLC (LON:DGOC) has confirmed that trading in the final weeks of 2018 “remained strong”.
Cradle Arc PLC (LON:CRA) said that, further to its announcement of 20 December 2018, it has appointed Antony Batty and Hugh Jesseman of Antony Batty & Company as joint administrators to the company with immediate effect. It added that the objective of the administration is to enable an orderly realisation of its assets with a view to maximising value for creditors and shareholders and, if possible, the survival of the company.