Movers of Thursday 23 June 2022

Francesca Morgan
Market Report
15:30, 23rd June 2022

Xeros Technology Group (XSG) FOLLOW shares jump 36.36% to 52.5p as revenues grow 23.1% 

On Wednesday, the group reported a revenue growth of 23.1% to £0.5m from £0.4m as a result of licence partner sales in 2H22 driving both revenue growth and margin increases.

Shares in the group reached highs of 60p this morning after falling to lows of 35.5p in late afternoon trading on Wednesday following an adjusted EBITDA loss of £6.3 million against £6.8 million, and a pre-tax operating loss of £6.9 million compared to £7.6 million in FY21.

Xeros informed investors that it expects further levels of investment to fund its business in FY23 and that its board is currently working on plans to secure the necessary investments.

XSG price chart

Bango (NGO) FOLLOW shares rise 10.67% to 140.5p as it signs deal with leading technology firm

Bango, which provides technology that is used by the likes of Amazon, Google and Microsoft, announced that it has signed an agreement with a leading, multinational technology company.

Under the terms of this deal, the new Bango partner can use the Bango Platform to provide carrier billing and bundling services for its app store payments and subscription services.

While the deal is subject to the partner's standard terms of business for suppliers, the board said it does not expect this to alter Bango's financial expectations for FY22 but added that it will continue to review the potential impact in FY23 and beyond, as the relationship develops.

NGO price chart

iEnergizer (IBPO) FOLLOW shares tick up 8.22% to 480.5p as it reports “highly profitable” growth

In its results for the year ended 31 March 2022,  iEnergizer reported highly profitable revenue growth and continued margin improvements achieved through “deepening existing customer relationships, securing new customer contracts, and continued focus on higher margin work.”

Due to its performance over the year exceeding market expectations, the Board has proposed a 13.8p final dividend payment, a total dividend payment of 21.92p, a 55% increase on FY21.

Looking into fiscal FY23, the company says it has a “sizable project pipeline” in both enterprise solutions and that operational leverage in the business model will enable it to capitalize substantially on the revenue growth opportunities presented in the pipeline.

IBPO price chartNaked Wines (WINE) FOLLOW shares fall 40.64% to 171.15p as it warns of slower revenue growth 

The online wine retailer reached lows of 142p today after it told investors that it expects to see a short-term reduction in new customer investment and a reduction in FY23 revenue growth.

Naked Wines said it intends to trade at around breakeven earnings before interest, taxes, depreciation and amortization this year given the uncertain macroeconomic environment.

The company also acknowledged in today’s final results that its five-year investment payback to date from fiscal 2022 fell short of its projected goal and historical levels, due to market volatility from the coronavirus pandemic and inflationary pressures on household budgets.

WINE price chart

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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