MOVERS OF TUESDAY 16 FEBRUARY 2021
shares rose 5.62% to 139.1p while casinos and bingo halls remain closed
Shares in the Rank Group have continued to fluctuate over the past two weeks while casinos and bingo halls still remain closed as a result of the ongoing national lockdown in the UK.
In January 2020, Rank Group highlighted its confidence in investors in being able to navigate the challenges posed by the ongoing COVID-19 pandemic, despite posting a £48.6m pre-tax loss as a result of casinos and bingo halls losing 45% of operating days in the period.
The Group reported underlying group-wide losses of £42m, representing a 171% swing on Rank’s 2019/2020 profits of £59m. Meanwhile, the Group’s net gaming revenue (NGR) fell 55% to £177.6m as like-for-like NGR from venues crashed by 70% as a result of closures.
The ever-changing restrictions coupled with curfews, which in particular have a seismic impact on our Grosvenor venues, have resulted in an exceptionally challenging first half for the Group,” said John O'Reilly, Chief Executive of The Rank Group alongside the results.
He said, "There continues to be uncertainty looking ahead, particularly as our venues remain closed and we have no firm guidance as to when we will be able to reopen. We are now focusing on delivering the next stage of our Transformation plan and are ready to reopen our venues when the virus is under control and the vaccine roll-out has achieved its purpose."
shares soared 97.37% to 0.75p after inking two new contract wins
Shares in the Indian port and logistics facility developer soared after it announced that its subsidiary Karanja Terminal & Logistics has signed two new multi-year contract wins.
The Group signed one contract with Rudra Marine Services, while another contract was signed with an unnamed but "major" cement manufacturer for the use of its facility.
"I am very pleased that we have entered into two long term contracts with customers who have carried out significant due diligence over a number of months on various port and logistics facilities in the region and came to the conclusion that the Karanja facility provides modern infrastructure that will aid in the growth of their respective businesses.
These contracts highlight the important part that Karanja can play in the growth of Maharashtra and the neighbouring region,” said Chairman, Jeremy Warner Allen.
Whilst COVID-19 continues to have an impact on the Indian economy, the Group said it has continued to work on site and there have been some cargo movements, albeit at low levels.
shares jumped 53.13% to 73.5p as bitcoin reaches all time high
Shares in the blockchain group - the technology at the heart of bitcoin - have rallied again after bitcoin hit a $50,547.70 high across European trading. According to the Guardian, the price surge means Elon Musk’s company Tesla has piled up a virtual profit of £420m in the week since the entrepreneur said the car company had bought bitcoins then worth $1.5bn.
Tesla’s $1.5bn investment already sent prices in the cryptocurrency to a new record last week, rising as much as 16% to an all-time high of $44,795.20 according to Bloomberg data.
Cryptocurrency prices have continued to rise after Tesla’s CEO Elon Musk unveiled the investment and revealed that he believes bitcoin is on the “verge of broad acceptance”.
In recent news, Online Blockchain recently raised £1m per share to fund additional new projects as well as enhance the deployment of Umbria, the Group’s new development project in decentralised finance which is anticipated to occur in the first quarter of 2021.
The proceeds will also support its existing crypto and blockchain-based products and are anticipated to satisfy its current working capital and development needs for the next year.
"We are very pleased to have received further support at this moment of high interest in Blockchain and DeFi (Decentralised Finance) projects,” CEO, Clem Chambers stated.
shares jumped 29.17% to 10.85p following positive results at its Vanadium Project
The natural resources company jumped after reporting positive results from a Preliminary Economic Assessment ("PEA") on its 100%-owned Pitombeiras Vanadium Project in Brazil.
The results confirmed that Pitombeiras has ‘robust economics and excellent potential’ to become a profitable producer of Ferrovanadium concentrate (62%/65% Fe, plus V2O5 credit).
This PEA does not include the results of the current ongoing drilling programme nor additional beneficiation of the ore or recovery of Ti credits. The Company said it expects to release a further PEA in late Q2, 2021 that will incorporate these stated additional factors.
The Company told investors that further upside is expected through the delineation of expanded total resources to be calculated upon conclusion of ongoing drilling programme.
Looking ahead, Jangada said it anticipates that first production can be achieved by 1Q22.
shares fell -6.92% to 1,310.5p as Deputy Chairman sells £192m of shares
Shares in the UK-based homewares retailer fell today after deputy chairman, Will Adderley, sold 15m of his shares, representing 7.4% of the issued share capital, for 1,280p per share.
The Company told investors that Will Adderley remains “fully committed” to Dunelm in his role as Deputy Chairman and remains “a very substantial shareholder” in the Company.
In a statement released on Monday afternoon, the Group said Adderley’s proposed sale was aimed at his attempts to achieve a greater portfolio diversification. The Company also highlighted that the last time Adderley had sold shares in Dunelm was back in April 2016.
Dunelm revealed last week that it had reinstated its interim dividend of 12.0p (FY20: nil paid) which it said reflects a strong H1 performance as well as its confidence going ahead.
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.