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ELECTRONICS | Electronic Manufacturing Services
trackwise.co.uk

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About Trackwise

Trackwise Designs Plc (LON:TWD) manufactures products using printed circuit technology via its radio frequency & improved harness technology divisions.

Trackwise Headquarter Location

1 Ashvale, Alexandra Way Tewkesbury

Gloucestershire, England, GL20 8NB,

United Kingdom

+44 1684299930

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Latest Trackwise News

Trackwise Designs sees revenues hit by delays in completing orders

Jun 22, 2021

Trackwise Designs sees revenues hit by delays in completing orders A look at the major movers on the London market on Tuesday Trackwise Designs PLC ( LON:TWD ) has come off the rails after its latest update. The company, which makes specialist products using printed circuit technology, said full year revenues had climbed from £2.91mln to £6.07mln, with an adjusted operating loss of £0.19mln compared to a profit of £0.26mln. But it warned that due to a number of factors, including pandemic related delays as well as upgrading its facilities, some revenues expected this year would be pushed out to 2022. Chief executive Philip Johnston said: "What has become clear during the early part of 2021 is evidence of increasing supply chain stress, with increased prices and lengthening delivery timescales for a number of key raw materials. Sales have not been lost but this is impacting our ability to complete some orders on a timely basis in both our Advanced PCB and IHT divisions. "We have continued to work with our UK EV OEM customer on development improvements to the products we will be producing for them. As a result, it is now anticipated that our volume production, initially expected towards the end of 2021, will begin in early 2022. "Combined, these factors above will have an impact on revenues in 2021, although some will be offset by new business from other smaller customers as well as a continued focus on cost controls." Its shares are down 11.5% or 26p at 200p 8.53am: Engineer boosted by US Navy orders MS International PLC (LON:MSI) - the engineering company whose activities range from defence to building petrol stations - is in demand after it returned to profit and hailed a breakthrough in the US market. The company moved from a full year loss of £3.25mln to a profit of £1.59mln and lifted its final dividend from 1.75p to 6.5p. It said the outlook was "much brighter than we could have imagined twelve months ago." In defence it said international marketing was restrained due to the pandemic and the UK Ministry of Defence market was subdued. But evaluation trials for its naval weapon system by the US navy went well and it has been awarded a contract to supply seven systems. It was hopeful of further production orders, and meanwhile it has received an order from a US shipbuilder to supply eight similar weapon systems for a US government Foreign Military Sales Programme. It said: "This important break-through in the United States defence market, is a direct result of our persistent and purposeful marketing effort within the US over many years and our relentless, and crucially important, investment in product development programmes for the world markets." Its petrol station business benefited once the sites were designated essential businesses during the pandemic, allowing them to remain open. It said: "As travel restrictions were eased, so the need for structural maintenance and new builds gained momentum and there was a pleasing marked restoration in our UK activities. "Unfortunately, there was not a similar freedom of movement across mainland Europe and consequently our operation in Poland - which traditionally services customers from Scandinavia and across Eastern Europe - had a much reduced, activity level throughout the period." It expects to do well from movement in the overall UK petrol station market. It said: "There continues to be a notable, and very positive change, in the structure of petrol station ownership in the UK. The long-established ownership of stations by the large international oil companies is diminishing and passing to that of that a small number of privately owned, well- funded, entrepreneurial groups. Consequently, there is considerable investment taking place to enhance their station operations, creating what is being termed 'mobility hubs,' that will offer, not only a wide variety of fuel options, but also high quality and spacious convenience stores; fast-food outlets; rest areas and internet amenities plus superior car valeting facilities." But its forgings business was hit by both Brexit and COVID-19, and market conditions only started to improve in early 2021. Overall though, the return to profit and the upbeat tone has seen its shares jump 22.15% or 36p to 198.5p. 8.25am: Audioboom sees advertising revenues surge Audioboom Group PLC ( LON:BOOM ) continues to boom. The podcast company has seen its shares jump 7.37% or 65p to 947p after it said full year revenues would be significantly ahead of current market expectations, with increased earnings. Its signed advertising bookings after less than six months of the year are already more than 99% of the amount forecast for the whole year. It has boosted its advertising capabilities allowing it to reap further financial benefits from its back catalogue of content, and it has raised its ad prices by 22%. Its original programme launches have done well, including Dark Air with Terry Carnation, The Southern Tea, and Dark History - a show which hit number 1 on the Apple Podcast Chart in the US, UK, Canada and Australia following its launch on 2 June 2021. Episode 1 of Dark History has received more than 2 million listens. It is now listed as the fourth largest podcaster in the US. Also heading higher is  Cizzle Biotechnology Holdings PLC ( LON:CIZ ), the developer of a blood test for the early detection of the majority of forms of lung cancer. Its shares are up 7.2% or 0.45p to 6.7p after it signed a memorandum of understanding  with medical charity St George Street Capital. The two will collaborate to develop a companion diagnostic platform for certain therapeutic assets already licenced to SGS by a large pharma company, which seeks to address unmet clinical needs in autoimmune disease. SGS is expected to make milestone payments to Cizzle Biotechnology of up to £1mln, from which the company will fund the work to be undertaken to develop the companion diagnostic and any third parties contracted by Cizzle Biotechnology to assist. SGS has agreed to grant Cizzle Biotechnology potential future royalty payments from the commercialisation of SGS's therapeutic asset of up to £mln, plus potentially further payments from the use of the companion diagnostic. In consideration of this potential royalty stream, Cizzle Biotechnology has paid £65,000 to SGS initially and will pay a further £135,000 on entering into a full commercial contract. Cizzle executive chairman Allan Syms said: "The proposed commercial agreement with them will leverage the technology and know-how of Cizzle Biotechnology into a new area, bringing Cizzle Biotechnology's diagnostic capabilities into the therapeutic arena and broadening the opportunities and potential revenue streams for the company. "Whilst this is an exciting opportunity for the company, I would like to reiterate that our primary focus remains on progressing our blood test for the early detection of lung cancer, based on the C1Z1B biomarker, and I look forward to reporting on our progress in due course." Proactive news headlines Scancell Holdings PLC ( LON:SCLP ) said preclinical work has been published underlining the potential of its next generation vaccine against variants of the Covid virus. OPG Power Ventures PLC (AIM: OPG) expects to meet market expectations for profit after tax and cash generation for the year to March 31, 2021. Inspiration Healthcare Group PLC ( LON:IHC ) said clinical testing is formally underway of the respiratory device it has designed for use in neonatal intensive care known as Project WAVE. Sativa Wellness Group Inc ( LON:SWEL ) said it will open its fortieth clinic on Tuesday and is also expecting to list shortly through the NHS Patient Access service. One Media IP Group PLC ( LON:OMIP ) has acquired the producer royalties to three albums by Heatwave, the seventies disco-soul legends. Karelian Diamond Resources PLC ( LON:KDR ) said an aerial magnetic survey has been completed over the Anomaly 5 (Tervavaara) target in the Kuhmo region of Eastern Finland, an area where the company announced the discovery of a very rare pale green diamond in early 2017. Blackbird PLC ( LON:BIRD ) said it has launched a report based on independent research which highlights the “hidden costs” of traditional on-premise video editing workflows adapted for the cloud, known as 'cloud based', when compared to the cloud-native platform provided by the company. Cloudbreak Discovery PLC ( LON:CDL ) has taken an indirect stake in a borate project under a deal negotiated by Temas Resources , a company in which it holds a 15.8% stake. Temas has entered into a definitive option and joint venture agreement for the development of Erin Ventures’ Piskanja borate project in Serbia. Kavango Resources PLC ( LON:KAV ) has appointed existing board member Ben Turney as chief executive. Michael Foster, the outgoing chief executive, has decided to step down from the role after 40 years in the mineral exploration industry but will remain on the board as a non-executive director. TomCo Energy PLC ( LON:TOM ) used its interim results to highlight progress made in Utah despite the challenges of the pandemic with its Greenfield Energy joint venture establishing production from a pilot project. Europa Metals Ltd ( LON:EUZ ) said it appointed mining consultancy Wardell Armstrong International Ltd (WAI) as the Pre-Feasibility Study (PFS) manager for its wholly owned Toral lead, zinc and silver project in northern Spain, following a competitive tender process. NQ Minerals PLC (AQSE:NQMI, OTCQB:NQMLF, OTCQB:NQMIY) announced late on Monday that Roger Jackson has resigned as an executive director of the company with immediate effect. Mineral and Financial Investments Ltd ( LON:MAFL ) has received a further US$1mln payment as part of its earn-in agreement with Ascendant Resources Inc ( TSE:ASND ) in regard to the Lagoa Salgada zinc-lead-copper project in Portugal. Touchstone Exploration Inc (LON:TXP, TSE:TXP ) has executed a ten-year lease operatorship agreement which sets up a round of drilling to support production in Trinidad. ADM Energy PLC ( LON:ADME ) has extended a loan that had been due to mature in August, with the £200,000 loan now split in two. Add related topics to MyProactive

Trackwise Acquisitions

1 Acquisition

Trackwise acquired 1 company. Their latest acquisition was Stevenage Circuits on March 17, 2020.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

3/17/2020

$991

Acquired

2

Date

3/17/2020

Investment Stage

Companies

Valuation

$991

Total Funding

Note

Acquired

Sources

2

Trackwise Partners & Customers

1 Partners and customers

Trackwise has 1 strategic partners and customers. Trackwise recently partnered with GKN Aerospace Bandy Machining on February 2, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

2/8/2019

Partner

GKN Aerospace Bandy Machining

United Kingdom

Trackwise signs Collaboration Agreement with GKN Aerospace » Trackwise Designs plc

Trackwise is delighted to announce that it has signed a Collaboration Agreement with GKN Aerospace , , the world 's leading multi-technology tier 1 aerospace supplier , for the industrialisation of GKN Aerospace Type 8 Ice Protection System .

1

Date

2/8/2019

Type

Partner

Business Partner

GKN Aerospace Bandy Machining

Country

United Kingdom

News Snippet

Trackwise signs Collaboration Agreement with GKN Aerospace » Trackwise Designs plc

Trackwise is delighted to announce that it has signed a Collaboration Agreement with GKN Aerospace , , the world 's leading multi-technology tier 1 aerospace supplier , for the industrialisation of GKN Aerospace Type 8 Ice Protection System .

Sources

1

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