Movers of Tuesday 30 November 2021
shares ticked up 14.47% to 3,654p as full year revenue increases by 79%
The specialist media platform published its results for the year ended 30 September 2021 in which it stated that 1H momentum has continued into 2H with full year revenue up by 79%.
Over the period, revenue increased 79% to £606.8m, up from £339.6m in the prior year. Organic revenue grew 23% (1H: 21%, 2H: 26%), or 15% average over a two-year period.
As a result, Future said the proposed dividend for the year is 2.8p per share (FY 2020: 1.6p), a 75% year-on-year rise, which the group says reflects both its growth and future confidence.
shares rose 10.71% to 31p as group revenue increases by 33%
In its half-year results for the six months to 30 September 2021, Altitude Group reported a revenue increase of 33% to £5.9m, up from £4.4m in the comparative half-year in 2020.
Gross profit rose 12% to £2.8m (1H20 £2.5m) with increased trading activity reported. The Group said it continues to trade positively, with current performance in line with expectations.
shares rose 10.17% to 3.25p following new convertible note agreement
The London-listed firm, which is focused on developing clean energy solutions for Botswana and the sub-Saharan region has signed a convertible note agreement with Botswana Public Officers Pension Fund (BPOPF) and agreed to the terms of an equity investment by BPOPF.
The funds will be used to finance construction of transmission line infrastructure to connect the Lesedi Project to the Botswana Power Corporation power grid and to fund installation of generation assets and ancillary costs to facilitate power generation and sale of electricity.
“With funds now in place along with required approvals and agreements to commercialise our gas we look forward to pushing on with development,” said Tony Gilby, the company’s MD.
shares ticked up 8.70% to 6.25p following analyst forecast
Last week, analysts at Edison Investment Research said Sareum’s lead asset, the preclinical asset SDC-1801, was “inching closer to completing its preclinical toxicology studies.”
They noted that Sareum’s decision to pursue a capsule alternative to the original suspension formulation (which has resulted in further delays) has “come as a surprise.” Nevertheless, the group said clinical trial application (CTA) filing is expected to come through around mid-2022.
Sareum said the new formulation adds value to the programme (removing the need to develop capsules at a later stage) and is supported by £4.6m of funds raised in 2Q/Q321.
“Encouragingly, out-licensed asset, SRA737, seems to be gaining traction after Sierra Oncology’s decision to reassess it in combination with other targeted therapies. We expect that the next few months will be crucial for Sareum,” analysts at Edison told shareholders.
shares fell 8.06% to 96.33p as it slashes forecasts for FY22
Last week, in a report for the six months to 30 September 2021, the European online electrical retailer lowered its full-year forecast for FY22 with adjusted EBITDA predicted to be around £10m to £20m amid global supply chain disruption and competition in Germany.
The company said it is making moves in order to take ‘decisive action to address and mitigate the issues’. It said it is confident in its ability to trade its way resiliently through this period.
The stock has shed as much as 29% in value last Tuesday, the most since February 2015.Movers of Tuesday 30 November 2021
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