TRADING UPDATES: Optima Health sales jump; Shearwater contract win
The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Optima Health PLC - Sheffield-based occupational health services provider - Provides a trading update for the half year ended September 30. Says trading remains in line with expectations. Expects first half revenue to be around £96 million, up 60% on the prior year's £59.5 million, reflecting the acquisition of PAM Healthcare and continued growth across the group's core operations. Says PAM Healthcare integration is progressing to plan, with operational and commercial synergies being realised. Optima Health says it remains on track to deliver FY27 results in line with current market expectations. Chief Executive Jonathan Thomas says: "We are particularly encouraged by the progress being made across the enlarged business. Integration is advancing well, synergy delivery remains on track and we continue to see demand for our services across both public and private sector markets." Thomas says Optima enters the second half of the year with a strong pipeline of opportunities, increasing operational momentum and confidence in the group's outlook.
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BSF Enterprise PLC - London-based biotechnology investment group - Its wholly owned subsidiary, 3D Bio-Tissues Ltd, has received a formal Notice of Allowance from the United States Patent & Trademark Office for patent application number 18/578,286. The patent, entitled "Cell culture medium and supplements for corneal and skin cell culture," covers proprietary formulations utilising macromolecular crowding agents within serum-free and reduced-serum media. On issuance, the patent will provide proprietary protection in the US, the world's largest market for biotechnology and commercial biomanufacturing - and will support BSF's hub-and-spoke business strategy.
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Shearwater Group PLC - London-based cybersecurity advisory and managed security services group - Says that its subsidiary, Brookcourt Solutions has secured a new £1.7 million contract with an existing central government customer to provide advanced threat intelligence capabilities over a two-year period. The contract replaces the customer's previous agreement following its expiry and broadens the scope of services provided, incorporating additional platform capabilities and covering a larger number of users. The contract was secured through G-Cloud 15, following the expansion of Brookcourt's offering under the framework, as announced in August. "This contract further strengthens Brookcourt's position as a trusted cyber security partner to Central Government and demonstrates our ability to deliver and support complex cyber security solutions within highly sensitive environments," says Chief Executive Phil Higgins.
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Physiomics PLC - Oxford, England-based mathematical modelling company focused on medical drug development - Announces a new contract award valued at £102,000 for model-informed drug development modelling, incorporating pharmacokinetic/pharmacodynamic modelling. "This contract is yet another example of our team's ability to win new business, which is very pleasing to see," says Finance Director Ian Bagnall. The contract brings the total value of contract awards announced since May to more than £970,000 , which compares with revenue of £941,222 in the financial year ended June 30. Bagnall says: "I would also like to comment on certain investor speculation that the company accepts loss making contracts. No contracts are accepted which would knowingly result in a loss on the work programme. As set out in our annual report, increased use of external contractors added to costs in FY26, particularly in the first half, and this has since been significantly reduced. The focus of the new team is very much upon growing the revenue but ensuring financial rigour and tight cost controls."
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Earnz PLC - Cheltenham, England-based energy services company focused on global decarbonisation - Says that due to an administrative delay, completion of the acquisition of GEM Newco Ltd will be delayed. The acquisition, announced earlier this month, is expected to complete on or before Friday.
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Ondine Biomedical Inc - Vancouver-based antimicrobial therapies developer - Raises £10 million via a placing and subscription at 10p per share. Ondine says the fundraising received extensive support from existing shareholders. Carolyn Cross, chief executive, subscribes for £1.1 million worth shares. Proceeds are expected to provide the company with a cash runway into early 2028. CEO Cross says the fundraise positions the company to "accelerate commercial traction and international growth through targeted expansion of our sales and business development capabilities, while advancing the regulatory, manufacturing and submission activities required for our planned NDA submission in mid-2027."
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Invinity Energy Systems PLC - London-based manufacturer of utility-grade energy storage systems - Plans to raise a minimum of £20 million by way of a subscription for new shares with National Wealth Fund, a placing and a retail offer at 10p per share. Says the cornerstone investment from National Wealth Fund, which holds 19% of the its issued share capital, will be for a minimum of £10 million and up to a maximum of £12.5 million. The placing with institutional investors is to raise a minimum of £10 million via an accelerated bookbuild. Proceeds will be used: £10 million to accelerate development and product cost reduction; £8 million for working capital; £2 million to invest in manufacturing capacity in the UK and US; with excess capital raised to drive further investment in production capacity and for general working capital.
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