The Morning News Update feauring Ultra Electronics, KCOM and GW Pharmaceuticals

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Ultra Electronics (ULE) – its Ocean Systems business (UEOS), located in Massachusetts, USA has been awarded a three-year contract totalling over US$19m from the US Navy.

KCOM (KCOM) – pre-tax profits down by £0.1 million to £49.9 million in the year to March, dividend up by 10% at 4.88p per share.

Synergy Health (SYR) – has signed a multi-year outsourcing contract with Sterilmed, Inc. for the manufacturing operations of Sterilmed, a world leader in the reprocessing of medical Single Use Devices. This contract is one of the new contracts, mentioned in our announcement on 4 June 2014, giving rise to £48m of annualised revenues.

SMALL CAPS

MoPowered (MPOW) – had a strong first quarter and trading remains in line with plans for 2014.

Scancell Holdings (SCLP) – a patent for its DNA ImmunoBody® technology has been granted in the United States.

GW Pharmaceuticals (GWP) – the United States Food and Drug Administration (FDA) has granted Fast Track designation to GW’s investigational cannabidiol product, Epidiolex®, in the treatment of Dravet syndrome, a rare and catastrophic treatment-resistant form of childhood epilepsy.

Mosman Oil & Gas (MSMM) – drilling has started today, on the first of its three planned wells in the 2014 drilling programme, at its Petroleum Creek Project in New Zealand.

Redhall Group (RHL) – following further delays in the timing of major contracts and a more cautious assessment of the timing and impact of new business prospects, the Board has reviewed its forecasts and moderated its expectations for the year ending 30 September 2014 and now expects to produce a result comparable to that of the prior financial year ended 30 September 2013.