Revenue in 2020 eased to £101.53mln from £111.61mln in 2019 while the loss before tax narrowed to £1.54mln from £5.98mln.
The company said it had made a good start to 2021, giving it confidence it would exceed current market expectations as it embarks on a rapid growth phase.
2.35pm: Tiziana up
The US regulator has approved the use of Tiziana’s nasally administered monoclonal antibody to treat a person with secondary progressive multiple sclerosis (SPMS).
This is the first time a nasally administered antibody will be given to a patient with SPMS.
1.40pm: Bowleven dives as Etinde investment decision is delayed again
Interim results from Bowleven PLC (LON:BLVN) failed to hit the mark with the shares tumbling 17% to 4.75p.
The Africa-focused oil and gas exploration and production company made a loss of US$934,000 in the six months to the end of December, which was at least narrower than the US$1.38mln loss in the same period of 2019.
The company said that a final investment decision on the Etinde project, offshore Cameroon, will now most likely slip into 2022 as a result of economic uncertainty caused by the coronavirus pandemic and the decline of the price of oil. Originally, Bowleven was targeting a final investment decision by the end of 2020.
12.45pm: Dods Group to change name to Merit Group to reflect change in business mix
Dods Group PLC (LON:DODS) jumped 9.4% to 2.9p after it said trading in the second half of its financial year had recovered strongly.
The data and intelligence business, which is to change its name to Merit Group, said it expects to report adjusted earnings before interest, tax, depreciation and amortisation of at least £1.8mln for the year to the end of March, compared with an underlying loss the previous year of £0.2mln.
The proposed name change follows the acquisition of Meritgroup in 2019 that changed the business mix. The group said its strategy is to target the fast growth data and intelligence sector with market-leading technological solutions while using its strength in expert human analysis to add further value.
11.45am: Pharos Energy higher after Egyptian agreement
The company received provisional approval from the Egyptian General Petroleum Corporation’s (EGPC) main board to an amendment of the fiscal terms of its El Fayum Concession.
Under the new terms, the cost recovery petroleum percentage (i.e. the share of gross revenues that is available for the contractor to recover its costs) will be increased from 30% to 40%, allowing Pharos a significantly faster recovery of all its past and future investments. In return, Pharos has agreed to (i) waive its rights to recover a portion of the past costs pool ($115 million) and (ii) reduce its share of Excess Cost Recovery Petroleum from 15% to 7.5%.
10.50am: B90 rises after share issue raises £1.1mln
The sportsbook operator and online marketing company for the gaming industry raised £1.1mln by flogging shares to various existing and new investors at 14p a share.
That’s a 1.8% premium to last night’s closing mid-market price of 13.75p, which no doubt pleased existing shareholders, as did the announcement of new affiliate agreements with RB Journalism (trading as oddsen.nu) and E-2 Communications to access potential new customers for, and drive additional traffic to, the Bet90 platform.
9.55am: Symphony boosted by findings of study into its technology
The plastics technology specialist said the study had proved “beyond doubt” that d2w is biodegradable in the marine environment. It added that there was a direct correlation between lab results and real-world conditions, which it said was “hugely positive” as until now it had been alleged that lab results could not demonstrate performance in real-life marine conditions.
Symphony also said the study has provided proof of d2w’s transformation into more than 3,000 non-plastic biodegradable oligomers found in nature, as well as its non-toxicity to marine creatures.
9.00am: Mediazest soars as it announces new business wins
The creative audio-visual company released the good news ahead of its virtual annual general meeting today.
More than £250,000 of confirmed additional written orders have been received and roughly the same amount of further orders on top of these are currently at the final stage of negotiation. Several additional other projects are at an advanced stage of discussion with both new and existing clients.
LoopUp PLC (LON:LON:LOOP), up 20% at 87.5p, was always likely to be seen as a winner in the year of the pandemic and so it has proved.
The remote meeting technology specialist said today that full-year underlying earnings (EBITDA) are expected to be around £15.3mln, up from £6.4mln in 2019, while revenues are forecast to rise to around £50.2mln from £42.5mln.
The company also said it had ended the year with gross cash of £12.1mln, up from £3mln at the end of the prior year, while net debt was cut to £700,000 from £11.5mln.
Proactive news headlines
Catenae Innovation PLC (LON:CTEA) said it responded to the government’s call for evidence on whether coronavirus status certification could play a role in reopening the UK economy, reducing restrictions on social contact and improving safety.
Symphony Environmental Technologies PLC (LON:SYM) said it has concluded a five-year study into its d2w technology with the French Agence National de Recherche, with the study proving “beyond doubt” that the oxo-biodegradable plastic is biodegradable in a marine environment.
S&U PLC (LON:SUS) said recent numbers from its Advantage and Aspen businesses “bodes well” for a rebound in activity this year as the UK emerges from the coronavirus (COVID-19) pandemic.
Silence Therapeutics PLC (LON:SLN) is cashed up and ready to pick up the pace in 2021 after a transformational 2020, it told investors.
Condor Gold PLC (LON:CNR; TSX:COG) said it completed the first 40 drill holes on the La India starter pit infill drilling programme in Nicaragua and that drill results from the Northern Starter Pit include two significant intercepts.
Bango PLC (LON:BGO) has announced the launch of an updated version of its Bango Marketplace platform which provides app marketers access to custom payer audiences to focus their advertising campaigns through its Bango Audiences segments.
Vast Resources PLC (LON:VAST) unveiled a more efficient mine plan for its producing Baita Plai polymetallic mine in Romania as it shifts to mechanised mining and away from more labour-intensive methods.
LoopUp PLC (LON:LOOP) shares rallied as it revealed strong growth in its new cloud telephony business with its pipeline of potential new business now worth £106mln.
Trident Royalties PLC (LON:TRR) is set to complete on the acquisition of the Talga gold royalty, once the consideration shares are admitted to trading. The deal was initially announced on 28 August 2020.
IronRidge Resources Ltd (LON:IRR) announced additional high-grade drill intersections at the Zaranou project in the Ivory Coast, following the results of drilling over the Mbasso, Ehuasso and Yakassé targets.
Greatland Gold PLC (LON:GGP) has applied for two new exploration licences adjacent to the company’s Ernest Giles project in Western Australia. The two applications are for Mount Smith and Welstead Hill and would increase the footprint of the project from 880km2 to 1,950km2.
Westmount Energy Ltd (LON:WTE, OTCQB:WMELF) said 2021 is shaping up to be a significant year for exploration and appraisal operations in the Guyana-Suriname basin with more than twelve exploration and appraisal wells scheduled for the Guyanese sector alone.
Sirius Real Estate PLC (LON:SRE) has promoted managing director Rüdiger Swoboda to a newly created executive role of chief operating officer.
Instem PLC (LON:INS) will announce results for the year ended 31 December 2020 on Monday 12 April 2021. An analyst presentation will be held at 11am on the day, with an investor presentation at 4pm on the Investor Meet Company platform.
Shield Therapeutics PLC (LON:STX) chief executive Tim Watts will present at the Proactive One2One Virtual Investor Forum on Thursday 8 April 2021. Starting at 6pm, Shield will be one of three companies presenting and taking questions on the evening, with registration open to all potential and existing investors here: https://event.webinarjam.com/register/1024/gwwg2hxq9.