2Ergo (LON:RGO) [24.5p/ £8.69million]
The mobile solutions company has reported that it has conditionally raised £2.2 million (before expenses) through the placing of 15 million new shares with both new and existing shareholders at a price of 10p per share and through three of the directors - Neale Graham, Barry Sharples and Keith Seeley - agreeing to subscribe, in aggregate, for seven million new shares also at a price of 10p per share.
The placing price is a discount of 74% to the closing mid-market price of 38.5p on 13 September 2012, the latest date prior to the announcement. The net proceeds of the issue will provide access to additional working capital and the capital resources required to undertake the necessary investment in the rollout of the podifi™ and TikTap™ contactless mobile technology platforms.
Alliance Pharma (LON:APH)[26.5p/£63.44 million]
Alliance Pharma the speciality pharmaceutical company, has announced interim results for the six months to 30 June 2012, which saw a narrowing of both sales and pre-tax profit to £22 million (2011: £24.4 million) and £5.3 million (2011: £7 million) respectively. Hydromol™ (a skincare product) did however grow by 28%.
Increased competition in part explains the performance, with Nu-Seals (a low-dose aspirin) for example facing a tough time in Ireland, together with a production issue around the ImmuCyst product. Despite this, the company increased its interim dividend by 10% to 0.275p, perhaps demonstrating management confidence in the outlook for the company - the acquisition of three products from AstraZeneca (LON:AZN) in August being a key step for Alliance and maybe explaining this.
Altitude (LON:ALT) [18.25p /£7.80 million]
The provider of information and technology services to the promotional products industry announced its interim results for the six-month period ended 30 June 2012. Revenue from continuing operations increased by 17% to £2.86 million (first half 2011: £2.46 million) whilst pre-tax profit increased to £235,000 (first half 2011: £63,000). Cash on the balance sheet is higher at £0.61 million (first half 2011: £0.29 million).
Product development continues to be a focus for the company and is continuing to increase developer headcount modestly in the USA over the next three to six months. The outlook appears to be one of continuing product range development - an official launch…
