TechMARK movers: Phoenix IT rallies on results

1st Jun 2009 16:20

IT services company Phoenix IT Group soared Monday morning after a strong performance by its business continuity division drove revenue and profits higher. Profit before tax and on-recurring items in the year to 31 March 2009 rose to £24.9m (£15.6m after non-recurring items) from £21.9m (£15.5m after non-recurring items) the year before. Revenue climbed to £2532m from £230.8m a year earlier. The company recently reorganised its structure from five operating businesses to three customer facing divisions, of which ICM Continuity Business was the star performer, with revenues up 22% and operating profit up 47.1%.Shares in gene therapy company Oxford Biomedica also surged after it presented updated analyses of its trials of its TroVax drug on colorectal and renal cancer to the annual meeting of the American Society of Clinical Oncology (ASCO). In all trials TroVax was well tolerated and there were no serious bad side effects. In the phase 1/II and II cross-trial analysis in colorectal cancer, 88% and 95% of patients showed positive responses for the 5T4 tumour antigen and the vector system, Modified Vaccinia Ankara (MVA), respectively. In the renal cancer trials, 89% of patients evaluated mounted %T4-specific antibody responses. Two patients showed a complete response for more than 36 months and two others had a partial response for more than 24 and 12 months respectively.FTSE TechMARK - RisersE2V Technologies (E2V) 84.00p +16.67%Phoenix IT Group (PNX) 172.25p +13.32%Elan Corporation (ELA) € 5.68 +12.14%Innovation Group (TIG) 9.05p +7.74%Oxford Biomedica (OXB) 10.75p +7.50%Imagination Technologies (IMG) 88.75p +6.93%Kofax (KFX) 125.00p +6.38%Psion (PON) 58.00p +5.45%Optos (OPTS) 60.00p +5.26%Dialight (DIA) 124.00p +4.20%FTSE TechMARK - FallersInion (IIN) 0.60p -23.08%Redstone (RED) 9.62p -6.10%Morse (MOR) 12.00p -5.88%Sepura (SEPU) 49.50p -4.81%Torotrak (TRK) 28.00p -2.61%Renovo Group (RNVO) 28.25p -2.59%Intec Telecom (ITL) 68.25p -2.50%Puricore (PURI) 13.50p -1.82%Ricardo Group (RCDO) 202.00p -1.46%Xaar (XAR) 81.50p -1.21%