CML Microsystems Plc (LSE:CML) has seen its shares climb after it said full year trading was likely to be ahead of current market expectations.
The company, a specialist in semiconductors for the communications market, said its cash position had been boosted to around £25mln by a combination of positive trading and the sale of an investment property.
It said the funds provided the financial flexibility to maximise its future growth potential.
Its forward order book remained strong, with scheduled shipments stretching beyond twelve months, and it said it had been able to minimise the impact of the current supply chain issues.
Its shares are up 4.44% at 353p.
3.14pm: Gooch & Housego sees profit shortfall after COVID-19-related staff and supply chain issues
Gooch & Housego PLC (AIM:GHH), the specialist manufacturer of photonic components and systems, is looking gloomy after warning full year profits could be £2.5mln below expectations.
It said it had seen strong demand in the first half of the year, with record order books.
But COVID-19 has led to supply disruptions and staff sickness - first in the US and more recently at its UK sites - and caused problems in meeting that demand.
So first half revenues are down from £58.5mln a year ago to around £54mln. It expects an improvement in the second half, but is unlikely to recoup all the lost revenues.
Chief executive Mark Webster said: "During the first half of the financial year we have seen strong demand for the Group's technologies and capabilities and our order book has achieved another record level. However like many industrial businesses our revenue has been held back by COVID-19 related staff absences and supply chain disruption.
"We have been working hard to increase production capacity in areas of substantial demand and build resilience within our supply chain. As a result we expect trading levels to accelerate in the second half."
AJ Bell investment director Russ Mould said: "The problem appears to be one of meeting demand not generating it, owing to tensions in global supply chains and also staff absences owing to COVID-19."
Gooch is down 7.11% at 952.16p.
1.17pm: Echo Energy boosted by strong first quarter production
Echo Energy PLC (AIM:ECHO) is sounding positive in its latest update.
The Latin American focused energy company said production from itsSanta Cruz Sur assets in Argentina remained strong in the first quarter to the end of March.
Net liquids production averaged 265 barrels of oil per day, up 10% over the levels seen in the fourth quarter of 2021.
Net gas production averaged 7.4mln standard cubic feet per day, up from 7 achieved in the previous quarter.
Chief executive Martin Hull said: "We are pleased with operational progress in the first quarter of the year, with improvements in both liquids and gas output during that period compared to the prior quarter. This reflects the ongoing focus on making targeted investments, as cashflows allow, to drive production performance and access the identified production increase opportunities within the asset base. Coupled with stronger prevailing commodity prices, Echo continues to build firm operational and commercial foundations as it looks to grow the business further in 2022."
Echo shares are up 6.9% at 0.46p.
11.34am: SysGroup boosted by cyber security acquisition
More cyber security.
SysGroup PLC (AIM:SYS) is surging after buying an Edinburgh based business specialising in the sector.
It is paying an initial £4.8mln in cash for Truststream Security Solutions Limited, with another £3.075mln payable depending on performance.
SysGroup said Truststream, founded in 2011, was a complementary business and would also strengthen its UK presence.
The acquisition is expected to be immediately earnings enhancing.
SysGroup chief executive Adam Binks said: "The addition of Truststream to the group further supports our stated strategy to become the leading provider of managed IT services to the UK mid-market. The business strongly complements our existing portfolio of services and has high levels of recurring revenue.
"In addition, cyber security remains a key priority for businesses of all sizes as threats become both more prevalent and more harmful...
"Our investment in the group's systems and infrastructure over the last few years means that we have the platform in place to be able to scale SysGroup and will continue to identify further complimentary acquisition opportunities in line with our stated strategy."
SysGroup has climbed 17.02% to 27.5p.
10.34am: iomart advances after positive update and hopes for cyber-security strategy
iomart Group (AIM:IOM) is on cloud nine after its latest update.
The cloud computing company has seen its shares climb more than 9% to 179.8p as it said its full year results would be in line with market expectations.
It is set to report revenue of around £103mln, down from £111.9mln with adjusted profit before tax of £17mln compared to £19.6mln.
Its profit margins are stable and debt is forecast to be down from £54.6mln to a better than expected £43mln.
The year saw the launch of several new service offerings, the creation of a strategic cyber-security partnership, and continued investments across sales and marketing.
Analyst Andrew Darley at finnCap said: "After a challenging few reporting periods, delivery in line is a positive - and there is a renewed sense of energy, evident in the cyber security initiatives, which may indicate the nadir has been passed and the relatively new chief executive Reece Donovan’s portfolio broadening and updating initiatives are coming good."
10.11am: Osirium Technologies jumps by nearly a third after record quarterly bookings
Osirium Technologies PLC (AIM:OSI) is flying high after a positive first quarter update.
The specialist in cloud-based cybersecurity and IT automation software, saw record bookings for the first three months of the year, with continued growth in contract values and a return to pre-pandemic levels. Five of the contracts secured in the first three months of the 2022 financial year are each at a larger value than any individual contract signed in 2021.
It said a majority of the new contracts were for three-year terms, improving visibility of earnings and providing greater potential for expanding licenses and services.
New business growth was strong in both the NHS and educational establishments.
Chief executive David Guyatt said: "Given this new business momentum coupled with continued contract renewals, the board has increasing confidence in the full year."
Osirium has jumped 31.37% to 8.38p.
8.47am: Abingdon Health boosted by positive update on antigen test
Abingdon Health PLC (AIM:ABDX) is in demand after a positive update on a COVID-19 antigen test.
The firm has successfully completed the technical transfer of the Vatic KnowNow test for its customer, diagnostics technology company Vatic Health Limited, on schedule.
This follows the conclusion of the scale-up and manufacture of three independent production-scale batches, and Vatic has now approved the sale of tests manufactured by Abingdon. Abingdon has received initial purchase orders from Vatic for commercial sale, and manufacturing for these orders will now commence.
The Vatic KnowNow test is a saliva COVID-19 antigen test, which is the only test that identifies the virus by mimicking the surface of a human cell.
Abingdon chief executive Chris Yates said: "We are delighted to have concluded this technical transfer and to begin manufacture of the product for Vatic at our Yorkshire facilities. This is an important addition to the COVID-19 testing toolbox and we look forward to continuing to work with Vatic as we manufacture the product to fulfil their requirements."
Abingdon shares have added 24.39% or 2.5p to 12.75p.
Elsewhere e-Therapeutics PLC (AIM:ETX) is up 6.43% at 26.5p after the drug discovery group unveiled a research collaboration agreement with biopharmaceutical business iTeos Therapeutics
The collaboration will focus on the discovery of novel therapeutic approaches and targets in immuno-oncology. e-therapeutics will remain free to explore additional collaborations in the space.
Under the terms of the agreement, e-therapeutics will receive upfront and near-term cash payments material to the revenue of the company. It is also eligible to receive undisclosed milestone payments through pre-clinical and clinical development, in addition to regulatory milestones per programme.
Ali Mortazavi, chief executive officer of e-therapeutics, said: "We believe that our computational platform can discover novel therapeutic approaches for iTeos to prosecute in a hugely promising area of cancer treatment."