Cambridge Cognition Holdings, up 12.7%, announced that its half yearly revenues climbed to £3.3m from £2.9m in the same period last year. Loss before tax narrowed to £145,000 from £284,000m in the last year. The company expects revenue growth in the second half of the year to continue. The company also announced that it has signed the first contract for its product, CANTAB Recruit, with one of the world’s largest biotechnology companies.
Cyan Holdings, up 11.1%, announced that it has entered into a multi-year strategic partnership with Eppix eSolutions to integrate CyanConnode’s Enterprise platform with a Meter Data Management System (MDMS) to create the first SAP-based MDMS. The stock received positive ratings from brokers.
Kier Group, up 3.4%, announced that its annual revenues rose to £4.1bn from £3.3bn posted in last year. The Board has recommended a final dividend of 64.5p per share. Kier stated that they expect to achieve an annual average double-digit profit growth by 2020.
Panmure Gordon reissued its “Buy” rating on Vernalis, up 1.1%, with a target price of 76p. Canaccord Genuity reiterated its “Buy” rating on Amino Technologies, up 0.4%, with a target price of 180p. Elektron Technology, which remained flat at 6.9p, announced in its half year results that its revenues dropped to £17.9m from £19.5m in the same period last year. Loss before tax moved up to £0.8m from £0.2m.
Brady, down 1.4%, announced that Dr. Robert Brady stepped down as a Non-Executive Director from the Board. Bango, down 1.6%, announced in its half yearly results that its revenues increased to £854,000 from £614,000m in the same period last year. However, its loss before tax rose marginally to £2.81m from £2.78m. Peel Hunt downgraded its rating on the stock to “Add” from “Buy”, with a target price of 100p.
1Spatial, down 2.8%, announced that it has appointed Andrew Roberts as an Independent Non-Executive Chairman of the Board. Peel Hunt restated its “Buy” rating on Xaar, down 5%, with a target price of 570p.
Horizon Discovery Group, down 5.5%, announced that its half yearly revenues rose to £10.2m from £8.6m reported last year. Loss before tax marginally fell to £4.3m from £4.9m in the previous year. The company anticipates 2016 revenues to be within the range of £24m - £26m. The stock was subject to positive reviews from brokers.
Sphere Medical Holding, down 5.9%, announced that its half yearly operating loss narrowed to £2.6m from £3.5m posted in the same period previous year. Panmure Gordon reissued its “Buy” rating on the stock with a target price of 17p.
UK markets closed higher last week, led by gains in commodity stocks. The FTSE 100 index rose 3% to 6,909.4, while the FTSE AIM 100 index gained 1% to end at 3,895.4. The FTSE techMARK 100 index added 0.3% to 4,428.2.
US markets also finished higher in the previous week, as investors welcomed the Federal Reserve’s decision to keep the benchmark interest rate unchanged. Preliminary data was released showing the Markit manufacturing PMI expanded at a slower pace in September. The DJIA index added 0.8% to 18,261.5, while the NASDAQ index advanced 1.2% to 5,305.8.
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