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The Markets
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Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
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Pharma & Biotech

Proactive news highlights: Action Hotels, Atlantis, CloudTag, Tern and more...

Metal Tiger is going into business in Saudi Arabia, CloudTag has raised half a million, and Tern receives partners with Dell.

Binary options trading software specialist TechFinancials PLC (LON:TECH) swung strongly into profit as its consumer business recovered after restructuring.

Profits for the half year to June came in at US$1.25mln against a small loss last time, while revenues jumped by 34% to US$9.86mln.

In other news, Metal Tiger PLC (LON:MTL) is going into business in Saudi Arabia. The prolific mining investment company, which already has exposure across Africa, Europe, Australia and Asia, has teamed up with the Al-Sharif Group, a conglomerate primarily focussed on the generation and transmission of electricity.

Meanwhile, it's full steam ahead at Real Good Food PLC (LON:RGD), as it told investors it was satisfied with trading in the first four months and that it plans to kick start dividend payments.

The group is confident it will meet market expectations for the full year and that orders were strong, particularly in the premium bakery arm, which is showing double digit percentage, like for like, revenue growth compared to last year.

Over at CloudTag Inc (LON:CTAG) it has raised £500,000 through the issue of 4.35mln shares at a price of 11.5p per share, a premium of 4.5% compared to Friday’s closing price.

The company – which has now raised just shy of £3mln since April – said the cash will be used for “general working capital purposes”.

Elsewhere, Middle East and Australia-focused hotel group Action Hotels PLC (LON:AHCG) announced another six months of growth, outperforming expectations set out at its flotation.

The mid-market operator said it had surpassed its target for the number of rooms in operating and pipeline hotels by 29%, with rooms now totalling 3,184.

Over at Indian renewables group Mytrah Energy (LON:MYT), it reported a strong underlying performance in its latest half year as its wind power capacity increased by 50%.

Revenues rose by 52% to US$49.7mln in the period to June, with an underlying profit of US$2.49mln (US$2.42mln loss).

Atlantis Resources Limited (LON:ARL) today holds an event to officially unveil MeyGen - the world's largest free stream tidal power project.

It comes after Meygen was connected to the National Grid, in June, as well as the installation of power export cables.

Next, Hummingbird Resources Ltd (LON:HUM) said its 2.2mln ounce Yanfolila mine project in Mali is on-schedule and on-budget.

Leading industrial infrastructure group IMAGRI has been hired for the civil works, which include the primary crusher and the milling and carbon in leach (CIL) area.

And finally, Tern PLC (LON:TERN) told investors its Internet of Things (IoT) subsidiary Device Authority has been certified as a Dell IoT Solutions Partner.

The AIM-quoted technology investor highlighted in a stock market statement that Dell’s partner programme is a “multi-tiered ecosystem of domain experts”.

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