The UK's tax on renewable energy generators, which seemed badly thought out from the start, is failing in a number of ways, analysts say, and there will be hopes that there can be a U-turn at the upcoming autumn statement.
Chancellor Jeremy Hunt unveiled the electricity generator levy (EGL) this time last year, implementing the 45% tax from the start of 2023.
hVIVO plc, a contract research organisation in the infectious and respiratory disease vaccine and therapeutics fields, has received positive coverage following today’s stellar earnings call.
The group raised its projections for the full year and announced plans to initiate dividend payments, following a doubling of profits in the first half, bolstered by a 52% surge in revenues.
Quadrise’s operations in Morocco have not been affected by the earthquake, the company confirmed this morning, with the installation and commissioning of a replacement pump underway.
House broker Shore Cap said the trial is now expected to recommence in early October 2023 and it is hopeful it resume smoothly following issues with the previous pumps’ performance under high pressure.
Ondine Biomedical Inc (AIM:OBI), the life sciences company, is set to evaluate the performance of its Steriwave nasal photodisinfection technology, by using it to help around 1,000 cardiac surgery patients.
Working with the University of Alberta at the Mazankowski Alberta Heart Institute, the world-leading complex cardiac care and surgery centre, the eight-month evaluation will look at Steriwave’s ability to reduce post-surgical infections.
Quadrise PLC (AIM:QED) extended its sympathies to all those affected by the earthquake in Morocco on Friday and said its client's team in the country and the client's operations at the fuel trial site have not been impacted by the tremor.
However, Quadrise said the trial of its alternative and less polluting shipping fuel MSAR will restart "at the next available client production window", which is now estimated to be early October.
Critical Mineral Resources PLC (LSE:CMRS) told investors it has “made clear progress” in Morroco, following its acquisition of subsidiary Atlantic Research Minerals in June.
The company, in a stock market statement, highlighted that it has been actively building its portfolio of critical minerals projects and has identified a number of open areas prospective for copper, silver, manganese, and barite.
Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF), the developer and licensor of mobile-focused gaming content, supercharged its brand licensing division to lift total revenues by 36% to £11.5 million in the first half of 2023.
Though brand licencing is the AIM-listed group’s smallest revenue stream, the 222% surge in sales made it easily the fastest-growing segment, with the core content licencing segment also enjoying a 37% uplift.
hVIVO PLC hiked full-year guidance and said it intends to start paying a dividend, as underlying profits more than doubled in the first half of the year on revenues that increased 52%.
The outlook for the business is “extremely positive”, said chief executive Yamin Khan, with the human challenge clinical trials specialist having late last month set out plans to move to a larger trial facility funded by a number of existing clients.