Agronomics (LSE: ANIC) is an investment company that is focused on opportunities within the industry of modern foods, which are environmentally friendly alternatives to the traditional production of meat and plant-based sources of nutrition.
Agronomics Headquarter Location
18 Athol Street
Isle of Man, England, IM1 1JA,
01624 639 396
Latest Agronomics News
Sep 14, 2021
Agronomics in demand after fish and meat deals A look at the main movers on the London market on Tuesday Investors are getting a taste for Agronomics Ltd, the alternative proteins company which focuses on cellular agriculture and cultivated meat production. Its shares are up 4.13% or 1p to 25.2p after two of its portfolio companies revealed new deals. BlueNalu, where Agronomics holds shares and a convertible note representing 5.85% of the business, has signed a deal with frozen food group Nomad to explore the introduction of cell-cultured seafood in Europe Lou Cooperhouse, president and chief executive officer at BlueNalu, said: "We are excited by the opportunity to collaborate with Nomad Foods, which has revered, market- leading brands such as Birds Eye, Findus and iglo, to accelerate our market strategy in Europe." Meanwhile Meatable BV, where Agronomic holds 5.84%, has signed an agreement with Dutch multinational Royal DSM to co-develop growth media for cultivated meat. Growth media is a nutrient-rich liquid which contains the essential nutrients such as carbohydrates, proteins, salts, vitamins, and growth factors that cells need to grow. Krijn de Nood, chief executive officer and co-founder of Meatable said: "Joining forces with DSM, a global leader in biotechnology, will accelerate our research and development trajectory significantly. Together, we aim to develop the right nutritional ingredients in a fundamentally more cost effective and scalable process, to become the leading consumer choice for cultivated meat." 9.47am: Xaar shares drop as it falls into the red Xaar PLC ( LSE:XAR ), a specialist in inkjet components and printing systems, has seen its shares fall back as it fell into the red. Its continuing businesses - Xaar's 3D printing business is set to be sold so is not included - reported a loss of £2.1mln for the half year, compared to a £1.3mln profit. Its print systems business EPS has been restructured but is experiencing delays in sourcing key components. There has also been a £1mln write-down of slow moving or obsolete inventory, although the company expects growth to improve as COVID-19 eases in the US. In the printhead business, Xaar said: "[This] has seen some COVID-19 related supply constraints causing global component shortages in the market in the first half of 2021. Actions have been taken to mitigate their impact and maintain continuity of supply for the remainder of 2021 and into 2022, incurring increased costs. This will have a modest adverse impact on gross margins continuing into 2022. Due to ongoing uncertainty in relation to the COVID-19 Delta variant impact in Asia, we continue to be cautious with regards to our second half 2021 trading outlook." Overall, it added: "The short-term outlook remains positive with a healthy order book across the business. The success we have had in the first half of 2021, and the strength of the group's balance sheet and cash position, means the business is well-positioned to withstand further volatility caused by the pandemic. We remain confident our full year 2021 results will be in line with expectations." But its shares have dropped 26p or 11.45% to 201p. 9.03am: Zytronic ( AIM:ZYT ) set to return to profit after sales improvement Zytronic ( AIM:ZYT ) PLC, a specialist manufacturer of touch sensors, is in demand after a positive trading update. The Newcastle-based company said in May it had started to see an improvement in sales. Now it says that trend has continued, with second half revenues more than 30% ahead of the first six months. This has lead to a faster return to profitablity and a reversal of the first half loss. So overall, full year revenues and profits are now expected to be ahead of market forecasts. The news has seen its shares jump 16.67% or 25p to 175p. Elsewhere Tandem Group PLC ( AIM:TND ), whose products include toys, golf equipment and bicycles, has seen its profits speed ahead. First half revenues rose 14% while pretax profits climbed 35% to £1.9mln. In the toy business, its licensed range including Paw Patrol and Peppa Pig performed well, but others such as Trolls and Toy Story fell away from previous levels which had been boosted by movie releases. The Ben Sayers golf business was well ahead of last year, while the performance of the bicycle business was flat apart from the lightweight children's bicycle range Squish, which was well ahead of the same period last year. But it still faces problems in getting enough stock of bicycles to meet demand. It said: "The challenges previously reported have continued over the last two months since our AGM update. Global demand remains high with shipping containers still in short supply. Input costs, having risen significantly during the year to date, have yet to return to more reasonable levels. "We continue to manage these challenges well, where necessary deferring shipments and seeking alternative shipping routes to minimise cost whilst seeking to maintain timely supply of product." But with a positive outlook overlook, the company's shares are up 45p or 8.49% to 575p. Add related topics to MyProactive