Saietta Group PLC (AIM:SED), the electric powertrain group, has seen its shares accelerate after an update on its core axial flux technology (AFT) products which are targeted at the light-duty automotive and e-drive sector.
After acquiring an electric motor manufacturing facility in Sunderland earlier this year, it is scaling up production of AFT motors and other products.
It also has expanded its range to produce fully integrated e-drive systems by combining its AFT motor with integrated power electronics, a gearbox and a bespoke axle configuration.
This move has been helped by the purchase of e-Traction in November 2021, and should "materially enhance" its long term revenue and margin prospects.
Chief executive Wicher (Vic) Kist said: "We are delighted that we are now in a position to offer customers fully integrated AFT e-drive system solutions.
"The acquisition of e-Traction has enabled us to reach this point sooner than expected and customer engagement has convinced us that this is the best commercial opportunity for delivering our AFT technology to market. Owning the power electronics and software development capabilities should allow us to help our customers to get their vehicle platforms to market faster."
Its shares are up 7.14% to 150p.
3.08pm: Gunsynd climbs after nickel deal for Pacific Mines
Investment group Gunsynd PLC (LSE:GUN) has been fired up by a deal from one of its investee companies.
Pacific Nickel Mines Limited has entered into a non-binding indicative agreement with Glencore for a three-year, US$22mln pre-export finance facility and a 4-year offtake arrangement for all of the production from its Kolosori nickel project on the Solomon Islands. The deal can be extended by a further two years by mutual agreement.
The proposed debt facility will cover a substantial portion of the pre-production investment required to develop the project.
Gunsynd is up 14.29% at 0.6p.
1.12pm: Castings lifted by plan to pay shareholders special dividend
Castings PLC (LSE:CGS) is climbing after the foundries group paid out a special dividend despite the problems of the pandemic and rising raw material and energy prices.
Full year turnover rose from £115mln to £149mln, with pretax profit up from £4.4mln to £12.1mln.
The firm said output was in line with the three year average before COVID-19. This was despite problems experienced by its major customers in the commercial vehicle sector mainly relating to semiconductors, although the situation was now improving.
It is passing on price increases to its customers although its profits may be affected in the short term.
It said: "It is expected that costs will continue to increase in the current year, including significant electricity rises when our current fixed contract comes to an end on 30 September 2022. Our customers have been made aware of the situation and the fact that, in order to continue to supply, the cost increases will be passed on.
"Our customers are now increasing their demand and, in this respect, they are more successfully managing the supply of semiconductors and other items in the supply chain. It is hoped that this will continue so we can enjoy improved sales in the current financial year.
"Underpinning the improved outlook and on top of new customer platforms where we have greater content, there have been a number of market wins in other sectors including wind energy, trailer braking and coupling systems and innovative agricultural products."
The company will pay a final dividend of 12.57p a share making a total dividend for the year of 16.23p.
On top of that, given its cash position, it is proposing a supplementary dividend of 15p a share.
In the market its shares are up 11.44% at 323.17p.
11.52am: Zenova boosted after deal to insulate eco-homes
Zenova Group PLC (AIM:ZED) is on the move after unveiling a new deal.
The fire safety and heat management specialist said its IR thermal insulation render had been specified by Newcastle-under-Lyme-based KC Cabins Solutions for its modular eco-homes.
Zenova will supply render to insulate 250 eco-homes amounting to a total of 50,000 litres of Zenova IR.
Chief executive Tony Crawley said: "[This] is an exciting and significant development for Zenova.
"As well as showing the opportunity Zenova has in yet another sector and application, the modular and prefabricated housing sector is a large and growing market, including in the UK
where many see it as part of the solution to the housing crisis we currently face."
Zenova is up 6.45% at 16.5p.
10.30am: Severfield climbs as order book hits a record
Severfield PLC has built up a good increase after rising profits and a record order book.
The structural steel group saw full year revenues climb 11% to £403.6mln while underlying pretax profits were up by the same amount to £27.1mln.
The increases came despite challenging market conditions including a rise in steel prices.
Its UK and Europe order book rose from £393mln in November to a record £486mln and includes new industrial and distribution, film studio, commercial office and bridge orders and the new stadium for Everton FC.
It said its expectations for the current financial year were unchanged despite the tricky macro-economic backdrop
Chief executive Alan Dunsmore said: "We are delighted to be reporting a resilient and strong performance despite the ongoing market challenges. The group's growth strategy is delivering a record order book with a broad diversity of sectors, geographies and clients, providing us with good earnings visibility through 2023 and beyond.
" Although inflation and supply chain pressures remain, we are managing these well and the earnings visibility gives us confidence in maintaining our positive performance expectations for 2023."
Its shares have added 7.83% to 64.7p.
9.44am: Tertiary Minerals slides as managing director resigns after ten months
Tertiary Minerals PLC (AIM:TYM) has fallen back after the resignation of its managing director, Patrick Cullen, after just ten months in the job.
The exploration and development company said his responsibilities would be assumed by other members of the board while it searched for a replacement.
Executive chairman Patrick Cheetham said: "The board does not expect its strategy or ongoing work programmes in Zambia or Nevada to be materially affected by this change and the board would like to thank Mr Cullen for his contribution to the company since joining as managing director in September 2021."
Tertiary shares are down 10.29% at 0.15p.
8.40am: t42 IoT Tracking Solutions wins first commercial order in Latin America
It may not be the easiest company name in the world to remember but t42 IoT Tracking Solutions PLC (AIM:TRAC) is putting in a memorable performance.
The firm, which provides real-time tracking systems for the supply chain and freight market, has received the first commercial order for its sensor fusion based tracking solutions and cloud platform services in Latin America.
The customer is a Latin American consortium of five leading local companies responsible for providing local port authorities with trade data for a major regional port in Latin America. The deal is for an initial 500 units with further orders expected for use at additional ports.
Chief executive Avi Hartmann said: "The underlying driver of demand for our tracking and monitoring solutions and services is customers' need for greater security and real-time data about the condition and movement of their containers. This is heightened by the current disruption to global supply chains. Our customers operating at ports choose us because of their need both for enhanced security and increased efficiency."
Its shares are up 13.33% at 12.75p.
Elsewhere Dillistone Group (AIM:DSG) is heading higher after the software and services firm said full year trading was in line with expectations.
In a statement for its annual meeting, chairman Giles Fearnley said: "We are pleased to report that the improved trading performance noted in the late months of 2021 has continued into 2022. Across both our contingency and executive search products, we see reasons for optimism with all our products performing broadly in line with - or better than - we would have anticipated at this point in the year."
Its shares have added 7.14% to 22.5p.