The digital chemistry data company will provide its DigitalGlassware platform to Dr Reddy’s process development team who are looking to the development and scale up of chemistry procedures to hand over to colleagues.
DeepMatter said: “Dr. Reddy’s manufactures and markets a wide range of pharmaceuticals in India and overseas and has built strong R&D capabilities not just in India, but worldwide, making it a partner of choice in contract research, development, and manufacturing services. As it seeks to constantly build on its digital capabilities, DigitalGlassware will look to play a key role in this strategy.”
The news has lifted the company’s shares by 6.76% to 1.39p.
2.41pm: Immotion Group boosted by reopening of visitor attractions
Its revenues for the six months to June reached GBP2.8mln and it almost broke even with an earnings loos of GBP31,000.
It has seen record results for June, July and August, and with September expected to be another strong month, it believes it will see third quarter revenues of around GBP3mln and earnings of GBP0.6mln.
The first half performance was driven by a recovery of its core Location Based Entertainment business, with almost all the sites where it operates now open and trading.
It now plans to expand into the zoo market with a launch in spring 2022.
It said: “We have been filming new immersive, 360-degree, live action endangered species content in Africa, which we expect to unveil in the fourth quarter, when we also hope to announce initial partner zoos. We would expect installations to begin in time for spring 2022.
“We believe the zoo market to be both global and several times the size of the aquarium sector, sharing the features that attracted us to the aquarium market: large numbers of high traffic, high quality potential partners, on a global basis.”
There were also contributions from two new divisions, Home Based Entertainment which launched initially with a Let’s Explore Oceans product, and UV-C disinfection business Uvisan, which won a significant order from the NHS.
It said: “The creation of the HBE and Uvisan divisions has provided us with two further significant growth opportunities and the early signs are very promising.”
Immotion shares have climbed 4.7% to 6.6p.
12.24pm: Cerillion climbs after new contract wins with Danish telecoms group
The deal with OpenNet an existing Cerillion customer, is worth a total GBP4.3mln.
The agreements cover a six year contract extension in which OpenNet will upgrade its core business support system platform to Cerillion’s latest technology. OpenNet has also significantly increased its software licences and extended its use of Cerillion’s Managed Service and private cloud platform.
Cerillion chief executive Louis Hall said: “We have established a very productive relationship with OpenNet, and are delighted to be extending it with this six year contract. “
The company’s shares have climbed 4.18% to 797p.
11.12am: HeiQ slumps by more than a fifth after rising costs and delayed orders
With last year’s strong demand for facemasks and personal protection equipment not being repeated, half year revenues fell from US$30.1mln to US$25.8m.
Pretax profit dropped from US$10.6mln to US$3.37mln.
The company said: “The battle to secure raw materials and maintain global supply chains in the first half of 2021 caused projects to be put on hold or cancelled by customers. For example, one major new sales project with a potential annual turnover of US$3mln was delayed by several months and had a direct impact on our reported income for the period..
“The first half of 2021 has seen us develop a healthy and promising innovation pipeline for functionalities that are clearly demanded by our business customers and the end consumers. We have been able to progress on various projects and build our capability for future growth, but due to the difficult market conditions outlined above, we have not executed on all sales opportunities in our pipeline at the start of the year.”
It said freight and raw materials costs had risen and it was not possible to pass these on to all its customers at short notice due to “the competitive environment in the textile chemicals sales to mills and HeiQ’s fixed brand pricing terms.”
On the outlook it said: “We anticipate that the rest of 2021 will continue to be unpredictable with the previously mentioned headwinds, for us, our customers and our competitors worldwide. While we are engaging in a number of significant projects, which would have an impact on the outcome for the full year, with various factors remaining outside of our control, we cannot be certain that all of these projects will materialize in the second half of 2021.”
The downbeat assessment has left its shares down 22.78% or 30.30p at 102.7p.
9.41am: NAHL drops after accident helpline group warns on lower than expected profits
Its half year results showed a dip in revenues from GBP20.2mln to GBP19.5mln due to fewer enquires during the pandemic.
It did move from a GBP0.4mln loss to a GBP0.6mln profit.
But profits attributable to joint-venture law firm partners fell by 26% to GBP1.7mln.
As for the outlook, it said growth in personal injury enquiries at the start of the second half was at a slower rate than originally anticipated.
It added: “The group’s strategy to deliver long-term growth in its personal Injury business will generate a higher margin business in the medium-term, whilst resulting in a short-term reduction in profits and higher levels of working capital as cases are progressed..
“Slower than expected growth in the number of personal injury enquiries due to the sustained impact of the pandemic, coupled with the strategic decision to grow the number of enquiries placed into NAL, will result in revenues and underlying operating profits for the full year being lower than management’s previous expectations, and are now expected to be lower than 2020.
“The board remains cautious around the speed and timing of the recovery from COVID-19.”
Its shares have dropped 10.2p or 18.15% to 46p on the news.
8.45am: Animalcare expects full year profits to beat market forecasts
With the boom in pet buying during lockdown, it is no surprise that companies involved in the sector are doing well.
Underlying half year earnings climbed 28.3% to GBP8.5mln, helped by a focus on brands with higher margins and growth potential.
The company now expects its full year results to beat forecasts
Chairman Jan Boone said: “While we still anticipate growth in revenue and underlying EBITDA will be weighted towards the first half of 2021, the level of market demand we have seen during the third quarter gives us the confidence that underlying EBITDA and underlying basic EPS will exceed current market expectations for the full year.
“Against this backdrop, and alongside a continuing increase in investment in the pipeline, the board has declared an interim dividend of 2p per share, in line with 2020.”
Its canine pain treatment Daxocox was approved by EU and UK authorities, paving the way for the products launch, while its STEM range of dental products is expected in the final quarter of the year.
The company’s shares have climbed 25.9p or 6.43% to 428.9p.
The sensor systems specialist said full year revenues were up from GBP0.6mln to GBP1.77mln and it moved from a GBP2.45mln loss to a GBP0.16mln profit.
Its tyre pressure monitory system iTrack has seen royalty income grow after it was licensed to Bridgestone Corporation, the world’s largest tyre producer, under a ten-year deal in June 2020.
Transense executive chairman Nigel Rogers said: “With royalty income from iTrack gathering momentum, and new products in [tyre monitory system]Translogik driving increased market penetration in tyre probes, the company has delivered strong revenue growth…
“Trading since the period end is well ahead of prior year, and the directors continue to be optimistic about the outlook and prospects for the company.”
Its shares are up 6.5p or 5.8% at 118.5p.