Coats Group (COA) shares tick up 15.03% to 67.7p as it records boost in profits
In its results for the year ended 31 December 2021, Coats Group reported a boost in profits, telling investors that it now expects its 2022 performance to be ahead of previous forecasts.
With ‘a number of projects in place to improve efficiency and margins,’ the company hopes to achieve incremental operating profit of $50m by 2024 while looking for further acquisitions.
Synairgen (SNG) shares jump 44.12% to 26.74p as clinical study design awaits modification
Synarigen said it has been asked by the US National Institutes of Health to “temporarily pause activities” as it prepares clinical supplies for a phase III clinical trial of its lead asset, SNG001.
This is because there is a need to modify the study design in “light of the emergence of the Omicron variant” and “until the timeline for the activation of this agent in the trial is clarified.”
Synairgen said SNG001 has shown “potent antiviral activity” against Delta and Omicron virus variants in lab tests. The news follows a statement released last week in which it stated that its treatment for Covid had failed to meet its primary and secondary goals in a phase III trial.
Image Scan Holdings (IGE) shares rise 15.38% to 2.25p following new customer contract
The Group, a specialist in X-ray imaging for the security and industrial inspection markets, has been awarded a contract to supply an industrial scanning system to a new customer.
Image Scan’s MDXi precision X-Ray systems, which are used to inspect automotive catalytic converters and diesel particulate filters in the manufacturing process, have over fifty units in service around the world, generating ‘valuable service revenue’ from this installed base.
The group describes the new customer as ‘a significant player’ in this market, with a global manufacturing footprint. There is potential, over the next few years, for further orders, should the wide scale deployment seen with other customers be adopted by this new one, it stated.
Dekel Agri-Vision (DKL) shares tick up 25.00% to 6.25p as it forecasts record sales revenue
Last month, the West African agriculture company told investors that it now expects to record all time record sales revenue for the month of January 2022 due to an increase in production at the company’s large-scale cashew processing plant located at Tiebissou in Côte d’Ivoire.
While production at the site remains at around 15% of capacity, it expects the remaining key items including the colour sorter and shelling machines to arrive on site in March and April.
Commenting at the time, Lincoln Moore, Dekel’s Executive Director, said: “Record CPO prices and strong production in January are expected to deliver record revenues for January.
Whilst early indications in February are we may break the 5-month trend of like for like monthly production growth, the efforts we have put into increasing our extraction rate in Q4 2021 appear to be paying dividends, and the CPO price outlook continues to remain strong”