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Pin to quick picksImmunodiagnostic Systems Share News (IDH)

Share Price Information for Immunodiagnostic Systems (IDH)

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Share Price: 378.00
Bid: 376.00
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Open: 378.00
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TRADING UPDATES: AFC raises GBP36 million; Angle wins service contract

Fri, 16th Apr 2021 11:28

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:



AFC Energy PLC - Surrey, England-based provider of hydrogen power generation technologies - Raises GBP36 million from oversubscribed fundraising of 48.4 million shares placed at 64.5 pence and a further 5.0 million shares offered for subscription to ABB Schweiz AG at the same price as the placing and 2.3 million shares subscribed for by Dutco group. The net proceeds from the raising will be used to support the continued product development of AFC Energy and ABB's next generation high power sustainable electric vehicle charging solutions. It will also go towards the development of new power solutions utilising AFC Energy's alkaline fuel cell technology platform, including the high growth global data centre market in collaboration with ABB. Finally, the continued development of the company's scalable manufacturing capacity to address possible future growth in system demand. Separately, signs new agreement with ABB to extend its partnership to now include the global data centre market, which currently consumes about 2% of worldwide power demand.



Accsys Technologies PLC - wood building products manufacturer - Notes strong sales and revenue growth in the second half of the year ended March 31 following the "rapid recovery" after the initial Covid-19 hit in the first quarter. Expects Accoya unit to post revenue of about EUR91 million, up 10% on year before with 23% year on year growth in second half. Group revenue to be about EUR98 million versus EUR94.1 million year before. Annual sales volume expected about 4% higher at 60,466 cubic metres. Notes production has continued at capacity levels throughout the second half driven by ongoing strong demand from new and existing customers. Will now focus on rebuilding inventory stock levels, which are lower than usual. Chief Executive Rob Harris says: "We have delivered a strong 12 months during which we have grown revenues, profits and preserved cash by successfully managing the revenue, margin and cost challenges presented by Covid-19. This strong performance reflects the agility of our business and the underlying demand for our sustainable products as the world further focuses on decarbonisation."



Angle PLC - Guildford-based liquid biopsy company - Secures first large-scale pharma services contract. The customer, an unnamed pharma company with numerous cancer drugs under development and annual revenues exceeding USD1 billion, has selected company's Parsortix system to undertake longitudinal monitoring of patients in three separate global clinical trials in prostate cancer and other locally advanced and metastatic solid tumours. The contract is expected to be worth up to USD1.2 million over some 18 months. The work relates to a large Phase III prostate cancer study and two smaller Phase I studies. The Phase I studies, if successful, could progress to larger Phase II studies and, if successful, much larger Phase III studies.



Zoetic International PLC - London-based cannabidiol products company - Reports rollout of its Chill brand of tobacco alternative products continues at "considerable speed". Since end of October, further orders have been placed by major distribution partners as the brand expands across the US towards full commercialisation. By July 2021, it is expected that Chill products will be on sale in 3,500 high footfall outlets. "This rollout will continue to ramp up over the course of the next 10 to 12 months and the information gathered during this initial phase will allow Zoetic to guide its strategy," company adds. Expects Chill to be available in UK during second quarter. Co-Chief Executive Trevor Taylor says this is "busy and exciting time".



Immunodiagnostic Systems Holdings PLC - Tyne & Wear-based diagnostic testing kits and instruments maker - Trading in second half of year recovered strongly from a pandemic-hit first half. Revenue in final six months to March 31 to be at GBP19.0 million, up 39% from GBP13.7 million in the first half. Annual revenue is expected at GBP32.7 million, down from GBP39.3 million the year before. "The development of the Automated Business strongly correlates with the placement of new instruments, as each new instrument generates recurring incremental revenues. Therefore, we are pleased to report that instrument placements-sales in our Automated Business unit were 79 during the second half, compared to 61 the year before, bringing full year placements-sales to 100, up from 93 year on year. This rate of placements represents the strongest performance in eight years," company adds. Very confident of revenue growth in Automated Business going forward.



Caspian Sunrise PLC - oil and gas in Kazakhstan - Notes price for oil sold to the domestic market from its flagship BNG Contract Area has been increased to approximately USD12.4 per barrel. "While this still lags far behind the international price it is approximately double the price received for most of the past 12 months and as such will be a significant boost for the company's finances," company adds. Chair Clive Carver says news is "very welcome".



Grafenia PLC - Manchester-based printing business - Says many of clients in hospitality, retail, sports and events have been closed since December 2020, or earlier, which has hurt revenues. Expects to report annual revenue for year ended March 31 of GBP9.5 million, down from GBP15.6 million year before. "Whilst that's a significant fall in product sales, income from subscription fees and services was steadier," company adds. Expects to report gross profit of about GBP5.6 million, down from GBP8.0 million. "Trading in January and February this year was the most challenging. As winter turned to spring, revenue in March 2021 improved and was 80% of the same period last year. This April has started well, as businesses in England begin to pull up the shutters and prepare to re-open. Given that last April, the whole country was watching Tiger King in the first lockdown, it shouldn't be difficult to beat last year's performance," company adds. Reorganises internal reporting to simplify group structure, will now start reporting as two independent businesses: Works Manchester and Nettl Systems.



Iconic Labs PLC - UK-based media and technology business - Following settlement agreement with European High Growth Opportunities Securitization Fund, notes EHGOF now withdraws claim of alleged breaches of various finance agreements between the two firms. Previously agrees to be bound by the agreements previously entered into with the fund, issue an additional 80 convertible notes - equivalent to GBP800,000 - together with an appropriate number of warrants under the terms of the finance agreements, and buy back any warrants where Iconic Labs has insufficient corporate authorities to issue shares. As a result, company says Friday that EHGOF has also indicated its willingness to enter into discussions regarding a finance facility of up to GBP50 million to support the company's growth plans, it says. Brad Taylor, chief executive of Iconic Labs said: "We are excited about our ambitious acquisition and growth plans and look forward to discussing these plans further with EHGOF."



By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Immunodiagnostic Systems recovers 'strongly' in H2

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Immunodiagnostic Systems gets emergency FDA approval for Covid-19 test

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IN BRIEF: Immunodiagnostic Systems Interim Revenue Falls By 21%

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23 Oct 20 17:37

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