Pets at Home (PETS ) shares ticked up 6.13% to 443.3 as it raises profit outlook
The pet care business said it has raised its full-year profit outlook following ‘accelerated momentum’ across all channels during 3Q21 as the group remained an “essential” retailer.
In a trading statement, the company reflected on 1H21 results released back in November 2020 which it said highlighted the resilience of its pet care model and the pet care market.
It said its performance was reflected in strong sales momentum across its Retail and Veterinary operations during Q2 despite ‘an extremely challenging external environment.’
Today, the group said momentum has accelerated across all channels in its third quarter, as it highlighted particular sales growth of its "high-teens" Group LFL in December 2020.
Despite new COVID-related national restrictions, the group remains an "essential" retailer. The group said measures across its stores, veterinary practices and online operations are ensuring it remains ‘in a strong position’ to meet all of its customers' pet care needs.
Malvern International (MLVN ) shares jumped 34.62% to 0.175p after securing loan
Shares in the global learning and skills development partner rose today after it announced that it has entered into a new short term loan agreement for £350,000 with Boost & Co, and that it has secured a further £30,000 via an unsecured loan note with a Director.
The New Loan for £350,000 will be drawn in full immediately. Interest on the amounts drawn down will be charged at 11.25% per annum while Richard Mace, Chief Executive of the Company, has agreed to lend the Company £30,000 by way of an unsecured loan.
The group said the purpose of the borrowing is to provide bridging finance to ensure the Company has sufficient working capital pending the payment of a significant trade debtor amounting to in excess of £900,000 which is expected to be paid in quarter one 2021.
FireAngel Safety Technology Group (FA. ) shares rose 26.32% to 24p following CFO change
Shares in the Coventry-based smoke alarm and carbon monoxide detector manufacturer have soared by over 75% in value since 18 December 2020 when the company announced that it had hired a new interim Chief Financial Officer, Jon Kempster, with immediate effect.
Kempster succeeded Mike Stilwell who resigned on 19 November but is to remain with the business until the end of January 2021. The search for a permanent replacement is ongoing.
Kempster, who is currently a non-executive director at Ted Baker, Redcentric and Bonhill Group as well as a trustee of the Delta plc pension scheme, has held board positions at Delta plc, Fii Group, Frasers Group, Linden, Low & Bonar plc, Utilitywise plc and Wincanton plc.
That same day the group also told investors that its revenue for November was "significantly higher" than October and up 20% when compared to the same month the prior year.
Deep Matter (DMTR ) shares jump 19.51% to 2.45p as it continues steady rise
Shares in the chemistry digitisation company have remained strong in recent weeks, rising by over 17% since it unveiled a three-year contract with Thieme Group subsidiary Thieme Chemistry for the supply of technical data services and access to its proprietary algorithms.
The contract extends the long-term relationship between the two parties, providing Thieme with access to DMTR’s services and algorithms to ensure quality and access to its data.
“We are delighted to have formalised our long-standing relationship with one of the world's leading scientific publishers and are proud of the role our data services and algorithms play in the quality of their world-renowned data,” said Chief Executive Officer, Mark Warne.
He added, “The theme of data quality in research is increasingly coming to the fore and through the breadth of our offerings we are well placed to meet the needs of the industry, from data-gathering at source through to publication.”
TUI Group (TUI ) shares fell 24.11% to 368.75p as travel stocks continue to suffer
Shares in the multinational travel and tourism group reflect the state of the travel market as travel firms have been forced to cancel holidays due to the latest coronavirus restrictions.
The FTSE 250 Anglo-German company's business was subject to a difficult year from Covid-19 travel restrictions which drove it to a €3bn loss in the year to the end of September.
Tui said it was "cancelling all holidays in line with international travel restrictions" and that customers due to depart from the United Kingdom would be contacted to discuss options.
In response, TUI has launched a rights issue to raise c.£492m from shareholders to pay off debt and strengthen the company's liquidity with travel on hold during Covid-19 lockdowns.
It said it would offer 508,978,534 shares to shareholders at 25 new shares for every 29 shares at a price of €1.07 a share which is designed to raise €544.6m and €509m after costs. The company said it will use the remaining cash to strengthen its continuing liquidity.
The offer is part of a €1.8bn financing package agreed with the German government, TUI's banks and shareholder Unifirm in December. The bailout is intended to support TUI during the Covid-19 crisis and assumes travel restrictions last until the 2021 summer season.