MOVERS OF THURSDAY 14 JANUARY 2021
(JUST ) shares ticked up 16.13% to 80.03p following business boost
In a business update for the year ended 31 December 2020, the retirement income specialist announced that retirement income sales for 2020 had increased by 12% to £2.1 billion.
Meanwhile, defined benefit de-risking ("DB") sales were up 22% during the year to £1.5bn
The group highlighted that the defined benefit market remains buoyant - ‘this has been the second highest year for market transaction volumes and the industry pipeline is very strong.’
During the year, the company noted that it has written 23 transactions. Meanwhile, DB De-risking sales in the 2H of the year were over £1 billion, a record six months for the Group.
“As we head into 2021, supporting the welfare of our colleagues, providing outstanding service to our customers and distribution partners, and further improving the resilience of our capital position remain our top priorities. We have a strong pipeline of new business and we start the year with increased confidence,” said David Richardson, JUST’s Chief Executive.
The company highlighted that it would present its full year results on 11 March 2021.
(BOTB ) shares jump 38.71% to 2,150p after raising profit expectations
The company said it expects pre-tax profits for the full year to be materially ahead of management's expectations following ‘encouraging’ sales momentum for the period.
"These strong results reflect our successful move to a pure online model together with our increased confidence in marketing investment as we look to accelerate growth,” said CEO, William Hindmarch, after revenue soared to £22.1m in the six months to 31 October 2020.
Total revenue for the six months improved from £7.60m in FY19 while profit before tax soared to £6.8m from £1.38m. Net assets came to £6.75m (FY19: £2.26m), substantially underpinned by property and cash while cash as at 31 October 2020 stood at £11.18m.
(ARCM ) shares rise 27.27% to 6.35p on possible deal with AAL
Shares in the AIM-listed copper and cobalt explorer continue to rise for a second day in a row after it detailed to investors that it has commenced discussions regarding a possible exclusivity agreement with Anglo American subsidiary, Anglo Exploration Zambia Ltd.
ARC’s two subsidiaries, Zamsort and Zaco, signed a confidentiality and six-month exclusivity deal with Anglo Exploration Zambia in respect of its copper exploration licenses in Zambia.
At the time of the signing in July 2020, Arc Minerals stated that during the exclusivity period, Anglo American will be permitted to conduct a technical review which, if satisfactory, could result in an extension of the exclusivity and the negotiation of a commercial transaction.
The company has noted there is no guarantee it will enter any commercial transaction.
(URU ) shares were up 26.67% to 285p as it sells Zebediela Nickel Project
The exploration and development firm said on Wednesday that it has entered into a letter of intent with Blue Rhino Capital to dispose of the Zebediela Nickel Project in South Africa.
URU will receive 41m shares in Blue Rhino, which is 80% of the company's issued share capital, and a 2.5% royalty for the project, where an additional 2% can be bought for $3m.
Upon the successful completion of the proposed acquisition of Zebediela Nickel Company which controls the project, it is anticipated that BRC will be listed as a Tier 2 Mining issuer on the TSX-V and will be involved in the exploration and development of the Project.
(DNLM ) shares fell 6.33% to 1,212.5p despite 12% Christmas sales rise
Shares the UK homeware retailer fell on Thursday afternoon trading despite posting a strong performance in the run-up to Christmas with sales rising 11.8% despite COVID restrictions.
During the quarter, it said consumer demand for homewares remained buoyant, and when its retail system, including stores, was fully open, it performed ‘significantly ahead of the market.’
Online home delivery business has more than doubled since FY20 as DNLM said it ‘continues to enhance the digital customer experience and ramp up our operational capabilities.’
The company said it expects pretax profit for its 1H21 to come to around £112m for FY21 - up from £83.6m in FY20 - but it stated that it is unable to provide meaningful guidance for 2H21.
Currently, all 174 stores are closed, with all but five stores still able to operate a Covid-secure and contactless Click & Collect service while Home Delivery services continue as normal.
During the restricted store trading period, DNLM anticipates that Click & Collect and Home Delivery services will continue to be permitted. At this level of restriction, it expects to make ‘a modest weekly loss’ given its fixed cost base and the decision not to claim JRS support.
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