An impressive set of half year numbers boosted ProPhotonix Plc (LON:PPIX).
On revenues 13% higher at US$16.2mln, net income increased 348% to US$1.3mln and underlying profits by 49% to US$1.8mln.
ProPhotonix consists of two business units: an LED systems manufacturing business based in Ireland (Cork), and a laser modules production and laser diode distribution business located in the United Kingdom (Hatfield Broad Oak).
Orders are good and the company is working with several prospective customers utilizing the Cobra (TM) Cure FX series of products for their specific applications, said chief executive Tim Losik.
Interquest PLC (LON:ITQ) was another riser on the back on results though it its case it was recovery hopes that sparked the gains.
The recruiter posted a statutory loss after tax of £1.2mln loss (2015:GBP3.1m profit) as net fee income decreased 9% to GBP21.7mln.
Gary Ashworth, chairman, said though: “Looking forward the Group intends to follow a path of organic growth, continuing to invest in our staff and developing the well established brands that we have in place whilst focusing on paying down debt. We are cautiously optimistic about 2017."
Shares rose 4% to 37p.
Surgical Innovations Group PLC (LON:SUN) has broken out, it claimed with its annual results.
The strong numbers were not a total surprise, as the company’s share price had risen 20% back in January when it gave a sneak preview of the figures, but confirmation that the group had moved into the black saw the shares rise 10% to 4.1p.
12.00: Blancco Technology wipe out as interims disappoint
Data removal specialist Blanco Technology Group PLC ( LON:BLTG) faced a minor wipe-out of its own as investors took fright at a sizeable cash outflow in its latest half year.
The secure data erasure group posted interim revenues up to £14.2mln (£9.9mln), while underlying profits rose to £3.6mln (£2.7mln).
But that was as good as it got. There was a trebled pre-tax loss of £1.1mln due to a raft of one-off and acquisition costs, while from a net cash position at the end of the last year net debt has risen to £5.9mln.
Broker Cantor Fitzgerald has cut its rating to hold from buy while Keith Butcher who only joined as chief financial officer in September has departed.
Cantor said its change was due to the share price rising well above its target price though a lot of that reversed today as the shares fell 19% to 250p.
No-win, no-fee specialist NAHL Group plc (LON:NAH) was also out of favour as it confirmed changes in the payment thresholds for small accidents would mean an element of profits would not be recognised upfront and some cash not be received until cases are settled.
"Average case settlement times are around 18 months and when the growth we expect in volumes is taken into consideration, we anticipate that it will take some time to reach maturity for both profits and cash under this new arrangement.
"As a result along with a short term impact on operating profit, cash generation is likely to significantly reduce in 2017 and 2018 before returning to levels previously achieved."
Shares fell 5% to 157p.
Building materials group SIG (LON:SHI) perked up despite huge impairment charges as underlying profits of £78mln came within its forecast £75-80mln range.
The group posted a big loss after £184mln of write-downs. Shares rose 12% to 120p.
9.00am.. Premier African on the rise as potash investment moves nearer payback
Junior miner Premier African Minerals Limited (LON:PREM) was an early riser as it reported Circum Minerals has received a mining licence for the huge Danakil potash project in Etjiopia.
Premier holds 2mln shares (equivalent to an interest of approximately 2%) in Circum and its share price rose 5% to 0.71p.
AIM-listed MaxCyte Inc (LON:MXCT) has moved into the vanguard of the gene editing, one of the cutting edge new biopharma technologies.
According to a press release Tuesday CRISPR Therapeutics (NASDAQ:CRSP) and its joint-venture with Bayer AG, a company called Casebia Therapeutics, have picked up licence to use MaxCyte’s technology.
Under the terms of the agreement, CRISPR Therapeutics and Casebia will get non-exclusive commercial-use rights to MaxCyte's cell engineering platform to accelerate the “discovery, development, manufacturing and commercialisation of next-generation, cell-based medicines”.
Shares in MaxCyte rose 8% to 280p.
Some good news for engineer Hayward Tyler PLC (LON:HAYT).
It has won US$8.3mln of work from Korea Hydro Nuclear Power (KHNP), Korea’s nuclear power station operator.
Ewan Lloyd-Baker, Hayward Tyler’s chief executive, said: "This is another major contract win for the group and is testament to the strong relationship we have with our customers.”
Shares rose 5% to 37p.
Proactive news headlines
Drug discovery company C4X Discovery Holdings plc (LON:C4XD) is to raise up to £7mln through a placing of shares.
Cost savings at trading and risk management solutions provider Brady Plc (LON:BRY) saw adjusted EBITDA rise to £4.53mln in 2016 from £2.45mln in 2015.
Mobile payments company Bango plc (LON:BGO) has seen spending across its platform grow in line with expectations in 2017.
AIM-listed MaxCyte Inc (LON:MXCT) could be at centre of some exciting developments in the cutting edge arena of gene editing.
Electronics firm Stadium Group plc (LON:SDM) reported robust growth in full-year profits as its order book grew strongly, underpinned by Technology Products growth.
Sound Energy PLC (LON:SOU) Tuesday updated on progress on its Italian exploration well. Badile, near Milan, has reached its first casing point at a measured depth of 545 metres in less than a week. The next casing stop is 1,400 metres, and the well will go down to a total depth of 4,445 metres.
Horizon Discovery Group PLC (LON:HZD) has entered an agreement with an unnamed global molecular diagnostics provider to develop reference standards for non-invasive prenatal testing (NIPT).
Europa Oil & Gas Plc (LON:EOG) has confirmed changes to an onshore UK licence, in the north east, rearranging holdings following a recent acquisition.
Saffron Energy plc (LON:SRON) extended its gas sales arrangements with Shell Italia until October 2018. Chief executive Michael Masterman says it is a 'key element' of the business.
Independent Resources plc (LON:IRG), soon to be relaunched as Echo Energy, confirmed details of its open offer to raise £1.45mln.
Sula Iron ore & Gold PLC has raised £500,000 through a placing at 0.4p.
Lionsgold PLC has upgraded the resource at gold prospect Jonnagiri in India.
Metminco Ltd (LON:MNC) said the measured and indicated resource at Miraflores in Colombia now amounts to 840,000 ounces of gold and 826,000 ounces of silver.