Best of the Best climbs after better performance

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Investors have switched on to shares in Tremor International Ltd (AIM:TRMR) after it reported a record quarter.


The video and connected TV advertising firm saw revenues rise 55% to US$87mln with profits nearly trebled at US$13.7mln.


Chief executive Ofer Druker said growth had been driven by its connected TV services.


He added: “As we look ahead, we will continue to evaluate additional strategic acquisition opportunities, while making further investments in our product, R&D, sales and marketing to advance future growth and increase our market share.”


Tremor shares are up 8.31% or 62p at 808p.


2.48pm: iEnergizer sparks up after record results


iEnergizer (LSE:IBPO) has seen its shares energised by a record set of half year results.


The technology services group said revenues had risen 35.1% to US$121.9mln, with growth from new and existing customers. Pretax profit climbed from US$26.9mln to US$37.9mln.


It has raised its interim dividend from 5.72p a share to 8.12p.


Chairman Marc Vassanelli said: “[The results] exceeded our expectations for first half of 2022. This has been driven by our colleagues’ continued efforts in deepening existing customer relationships and attracting several new customers for our new service lines, combined with careful and active cost management…


“The board looks forward to the remainder of the year with confidence.”


It has high hopes for its business process outsourcing division’s exposure to the media, entertainment and telecommunications markets, as well as the prospects for its e-learning operations.


Its shares have jumped 15.27% or 40p to 302p.


12.58pm: BEST OF THE BEST (AIM:BOTB) climbs after better performance


BEST OF THE BEST (AIM:BOTB) is proving a winner after its latest update.


The provider of online competitions to win cars and other prizes said trading in the six months to the end of October was in line with expectations.


In August it issued a profit warning after the easing of lockdown restrictions led to a fall in customer activity.


But now it says: “Customer acquisition costs have stabilised, albeit at the higher levels previously reported. Engagement from the enlarged player base has also normalised, with average order values and frequency similar to pre-pandemic levels.


“Trading for the period has, therefore, been consistent with management’s revised expectations.


“The board remains confident about the prospects for the business, both in the second half of the financial year and beyond.”


With this latest news, its shares are up 8.8% or 55p at 665p.


11.41am: Restore rises as acquisitions help boost growth


Restore Plc (AIM:RST), the document management and relocation specialist, is on the rise after its latest update.


It said trading for the 10 months to the end of October was in line with expectations, helped by both organic growth and seven recent acquisitions.


Revenue run rate improved to GBP255mln, 19% ahead of pre COVID-19 levels, with annualised EBITDA tracking at GBP74mln.


Chief executive Charles Bligh said: “I am delighted with the organic momentum the business is achieving and the major contribution we are seeing from the successful acquisitions we have completed over the past 10 months.”


Restore’s shares are up 4.41% or 15.5p at 490p.


During the period Marlowe PLC (AIM:MRL) made an unsolicited 530p a share offer for Restore, but withdrew the proposal after it decided a deal could not be reached on acceptable financial terms.


10.30am: Gulf Marine lifted by contract extensions for two vessels


Gulf Marine Services PLC (AIM:GMS) is buoyant after unveiling two contract extensions.


The company, a specialist in self-propelled, self-elevating support vessels for the offshore oil, gas and renewables industries, said the deal involved improved day rates for a K Class (small) and an S Class (mid) vessel.


Both are currently carrying out work for a national oil company client in the Middle East and North Africa region (MENA).


Executive chairman Mansour Al Alami said: “The two contract extensions, on improved rates, signal that the market for our vessels, particularly in MENA continues to tighten and that clients are taking action to ensure they have vessel availability to support their ongoing operations.


“These awards further increase our confidence that the financial performance of the company will continue to improve in 2022 and beyond.”


Gulf Marine’s shares are 8.48% or 0.5p better at 6.4p.


9.45am: Pharos Energy (LSE:PHAR) boosted by Vietnam drilling update


Pharos Energy (LSE:PHAR) has flared up after positive news from its Vietnam project.


The oil and gas group said the first phase of the Te Giac Trang infill development drilling programme in the country had finished.


President and chief executive Ed Story said: “The TGT infill development drilling programme has safely completed ahead of schedule and well within budget. Three of the wells are already on production and the fourth well is presently being completed before being perforated and brought onto production. A further update on production performance will be given shortly once all four wells are on stream.


“We look forward to completing the firm infill programme when the final two wells are drilled in the second phase in third quarter next year. The TGT development programme represents a welcome and timely return to optimising production and value in Vietnam as we increase our exposure to attractive oil prices.”


Pharos is up 5.92% or 1.27p at 21.5p.


9.00am: Sabien soars after hydrogen deal with Proton Technologies


Sabien Technology Group PLC (AIM:SNT) has been energised by a hydrogen processing deal with Proton Technologies Canada.


The agreement involves Sabien, an energy reduction specialist, producing 20 tonnes of hydrogen per day, generated using Proton’s technology, to process UK oil fields on and offshore as well as oil output by plastic recycler City Oil Field.


There is a consideration of GBP100,000 in cash and 280,000 warrants to be issued with exercise price of 60p per ordinary share with an expiry date of 19 February 2023.


The deal also includes the option for Proton to install a 24 tonnes/day recycling plant on its site in Saskatchewan using the City Oil Field process licenced to Sabien to convert plastic waste to synthetic oil.


Chairman Richard Parris said: “Sabien is delivering on its strategy of building a portfolio of operations which, in combination, provide critical elements of the transition to a Green Economy.


“Following Sabien’s initial investment in Proton announced on 14 October 2021, the board is pleased to have secured a significant licence deal with Proton.


“Proton’s technology is likely to prove important in the development of hydrogen as a major sustainable energy source. Alongside other investments and partnerships with operators in areas such as HVAC efficiency, waste plastic recycling into fuel oil, and high-speed electric motors, I believe that Sabien is emerging as a champion for the Green Economy. We look forward to working with Proton and to building further on our successful portfolio approach.”


Sabien shares have soared 33.61% or 7.35p to 31.65p.


Elsewhere GYG PLC (AIM:GYG) has sailed up 9.47% or 4.5p to 52p.


The company has signed a EUR7mln contract to refit a 100-plus metre superyacht, with work scheduled to start at a Northern European shipyard in January 2022.


Chief executive Remy Millott said: “This project utilises a number of GYG’s turnkey solutions and this was a significant deciding factor when the shipyard was awarding the contract. We look forward to starting work in the new year while the team remains busy submitting tenders for a large number of refit and new build opportunities.”


Earlier this week GYG warned that its full year results would be lower than expected, following continued disruption caused by the administration of the Nobiskrug shipyard in Germany, where it is waiting for EUR2.8mln it is owed.

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