News

Shares in Cyprotex plunged after the pharmaceutical firm said revenue for the six months to June, although ahead of last year, was behind expectations due to a number of factors.

The group blamed a group of 'requisitionists' for trying to unseat the present management, which it said was a costly diversion.

The first half was also compounded by a loss of an important client, though it added that the slippage of contract signings and collaborative agreements that characterised this year is expected to pass.

Fuel cell technologies firm ITM Power slipped lower after it increased losses for the year to £2.7m from £1.8m previously.

The group said it made considerable effort last year to move towards the commercial realisation of ITM's technology.

It added that before the end of the year it plans to publicly demonstrate both the Bi-fuel Ford Focus and refuelling system using electrolyser prototypes that will closely resemble the initial systems to be manufactured.

"This will be a very exciting and important step forward because ITM's technology will become visible and the benefits of our advances will become more easily understood," it said.

Vehicle management information firm Minorplanet Systems declined after it said full year results are likely to be materially below current market expectations.

The group said it saw a slower than expected recovery in the performance of the German subsidiary and delays in the launch of certain new products.

It added that it is confident that its long term strategy for the business is firmly on track to generate growth in profits and market share year on year.

Shares in Next Fifteen advanced after the PR firm said trading remains healthy, adding that it expects to post strong full-year figures in October.

"We expect to deliver another strong set of results for the full-year and are pleased that we've been able to invest in new operations in Asia for Bite and open our first research business in the UK," said chairman Will Whitehorn.

"The group continues to focus on the organic growth of its existing PR brands and acquisitions that would complement the existing PR businesses," he added.

Nestor Healthcare said pre-tax profit for the first half is in line with expectations, "though a combination of market and operational issues, together with the investment in strengthening our management structures, have impeded progress in the short term."

Pre-tax profit fell to £5.6m compared with £6m last time on revenue that was broadly flat on £89.7m from £88.4m previously.

The group added that it remains confident of its medium term and longer term prospects.

Silence Therapeutics, formally SR Pharma, was higher on news that it expanded its strategic technology licensing agreement with Quark for its AtuRNAi technology.

The agreement provides Quark with options to non-exclusive licenses to develop additional molecules against 3 specific targets using AtuRNAi, while Silence will be entitled to milestone payments and a royalty on product sales.