Movers of Thursday 10 June 2021
shares ticked up 7.70% to 77.3p as FY21 results show trading 'resilience
In its results for the twelve months to 31 March 2021, the company said it maintained ‘good trading resilience’ through the pandemic with revenue just 1.6% lower than the prior year.
Commenting on the FY21 results, CEO, Phil Bentley, said the group’s second half of the year was “significantly better” than the first half, with 6.5% year on year growth, as variable projects and discretionary spend works picked up while both cleaning and security demand increased.
In addition, the company said its balance sheet today is ‘significantly stronger’ with net assets of £362m at 31 March 2021, compared to £81m at the prior year end, with sustainable leverage of less than 1x its EBITDA and a significant reduction in off balance sheet financing.
“With some high-quality new contract wins, short-term support to the public sector and additional synergies from the integration of Interserve (acquired by MITIE in November 2020), we now anticipate FY22 will be materially ahead of our prior expectations,” it told investors.
Omega Diagnostics (ODX) shares soared 17.80% to 69.5p as the group makes regulatory progress
The medical diagnostics firm said it has made progress to gain regulatory approval for its VISITECT® COVID-19 antigen test as a self-test product and for US professional use.
On Tuesday, the group told investors that it has initiated the process of engagement with its European Notified Body seeking CE marking of the rapid point-of-care diagnostic VISITECT® COVID-19 antigen test for the detection of active COVID-19 infections as a self-test.
The Company said it is in the process of agreeing to the protocols required for utilisation studies. The test is already CE marked for professional-use and the Company is targeting approval by the end of July to allow the test to be sold in Europe for home-use as well.
Meanwhile, Omega said its technology partner, Mologic Ltd ("Mologic") has successfully completed the necessary performance studies required for regulatory approval in the US.
It said it is in the final stages of preparing a submission to the U.S. FDA requesting Emergency Use Authorisation (EUA) for its rapid point-of-care COVID-19 antigen test, for use under both the Omega's VISITECT® brand and Global Access Diagnostics brand.
shares jumped 12.64% to 4.825p as investors put their money in graphite
While the AIM-quoted investment group had no news out today, in recent days, shares in the company, alongside other graphite-focused stocks have jumped as investors turn their heads towards the commodity which is critical to lithium-ion batteries used in electronic devices.
The African-focused resource company is focused on its primary asset, the Mahenge Graphite Project in Tanzania where last year it announced a revised mine schedule for a significantly increased production profile over the March 2020 Definitive Feasibility Study.
shares rose 11.76% to 1.9p as it eyes up full production licence
Despite not having news out today, in recent weeks, Prospec received full environmental approval for the development of the Selva Malvezzi Gas-Field ('Selva') in northern Italy.
Prospex believes environmental approval ‘paves the way’ for the grant of a full production licence from Italy's Economic Development Ministry. At the time, it said it will submit the required documentation in support of an application for a full production licence in 2Q21.
shares fell 4.87% to 132.8p as UK government remains unclear over lifting of COVID-19 restrictions
On Tuesday, the group unveiled that its Chairman, Debbie Hewitt MBE, is planning to step down from the Board with effect from 31st December 2021 after it was revealed that she is to become the Football Association’s first chairwoman with effect from January 2022.
The Restaurant Group, which owns the restaurant chain Wagamama, reported back in May 2021 that it had seen a “very encouraging” recovery in sales after trading had resumed.
In recent weeks the stock has dipped following speculation from the UK government over whether or not there will be a delay for the lifting of all Covid restrictions later this month.
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