Movers of Thursday 17 June 2021

Francesca Morgan
Market Report
15:30, 17th June 2021

Trainline (TRN) shares ticked up 5.24% to 285.6p as ticket sales grow 324% year-on-year  

Shares in the independent rail and coach travel platform jumped after it reported that ticket sales in 1Q22 ending 31 May 2021 had reached their highest level since the pandemic began, including UK consumer sales at 70% and international sales at 73% of FY20 levels. 

In particular, UK Consumer net ticket sales significantly outperformed the wider market, increasing 269% year-on-year and improving week-over-week throughout 1Q22, with more tickets sold as the company exited the quarter than the same period two years ago, it said. 

CEO, Jody Ford said she believes the grooup is “uniquely placed to support the industry recovery while leading the market shift to online and digital channel.” She said this is reflected in the step up in eticket penetration and the pace of the recovery this quarter. 

"Following the publication of Williams-Shapps white paper in May, I remain confident in Trainline's long term growth prospects in the UK and across our international markets. 

At the same time, we have an unparalleled ability to drive up customer demand, leveraging our efficient marketing engine and brand resonance to attract more customers and help the wider industry to grow, championing rail as a greener way to travel,” Ford told investors. 

TRN price chart

 Midatech Pharma (MTPH)  shares soar 65.45% to 45.5p as it publishes breakthrough data  

The biotechnology firm published breakthrough in vitro data demonstrating the potential of its Q-Sphera technology, a platform used for sustained release to prolong and control the release of therapeutics over an extended period of time (from weeks to months). 

Midstech said the results, which highlight Q-Sphera’s potential to formulate proteins into long-acting injectable products, could ‘potentially open up very significant opportunities.’ 

After acquiring the data, the dual-listed firm said its next steps will be to further optimize the drug loading and dissolution profile for encapsulated monoclonal antibodies.  

MTPH price chart

Cambria Africa (CMB) shares jumped 18.64% to 0.345p following return from suspension 

Shares in the investment firm jumped after it returned from suspension after publishing its results for FY20 in which it stated that its Zimbabwe-based subsidiaries are operating at above break-even levels, a performance which is expected to continue this year. 

Despite this, Cambria swung to a pretax loss of $0.424m from $1.9m of profit in FY19 after the company saw revenue fall by 74% year-on-year, largely as a result of the pandemic.  

In addition, net equity (NAV) fell by 13% from $7.39m in FY19 to $6.4m FY20. 

CMB price chart

 I3 Energy (I3E) shares rose 7.69% to 9.8p as it aims for dividend payment next month 

Shares in the independent oil and gas company with assets and operations in the UK and Canada rose after it told investors that its maiden dividend could be paid in late July 2021 should the cancellation of its share premium account later this month prove successful. 

Having strategically acquired a large production package at the bottom of the market in 2020, the Company noted that its assets have outperformed the directors' expectations.  

As a result, I3 is reclassifying its previous dividend of $2m as a "special dividend" which will be paid if the court proceedings to cancel its share premium account are successful.  

A final confirmation to effect i3's cancellation of its share premium account will be held on 29 June 2021 where it expects the High Court will confirm that the cancellation can proceed. 

If approved, this will clear the way for i3 to make dividend distributions whereby it will set the special dividend's ex-dividend date for 8 July 2021, with the payment being made in late July.  

Commenting on its operations, CEO Majid Shafiq stated that i3 is continuing to deliver on its stated strategy of economics-driven buying or building, dependent on attainable metrics.   

I3E price chart

 Dr Martens (DOCS) shares fell 10.63% to 442.6p after pre-tax profits fall by 30% 

In its first set of results as a publicly listed firm, the retailer reported that sales in the year to March 31 saw a 15% rise to £773m from FY19 with particular growth in its online business. 

Despite reporting solid sales, pre-tax profits fell by 30% to £70.9m, largely as a result of the group’s £80.5 million costs associated with its stock market listing on LSE in January 2021.  

Addressing shareholders, the company highlighted that its guidance set out at the time of the IPO remains unchanged, for both FY22 and over the medium-term. In FY22 it expects high teens revenue growth year-on-year, as it laps the Covid-19 impact experienced in FY21. 

The footwear brand highlighted that trading since the year end has been in line with its expectations. It added that the Board expects to begin paying a dividend later in FY22. 

DOCS price chart

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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