Diploma (DPLM) shares ticked up 9.82% to 3,020p as it raises full year guidance
In its results for the six months ended 31 March 2021, the British-based supplier of specialised technical products and services reported a “very strong” performance with improving momentum into H2, prompting it to raise its guidance for the full year ahead.
During the period, Diploma saw underlying revenue growth increase by 2% against a pre-pandemic comparator, with its revenue initiatives, improving demand and contribution from acquisitions resulting in a return to growth in all three sectors by the end of the period.
In terms of outlook, the company said it is witnessing “exciting trends” into H2 with a further acceleration in underlying growth for all three of its sectors in April 2021 driven by its revenue initiatives, improving demand as well as a strong contribution from acquisitions.
Immunodiagnostic Systems (IDS) shares soar 47.06% to 375p after agreeing to £110m takeover offer
The Group, which provides in-vitro diagnostic solutions to the clinical laboratory market, confirmed to investors that it has agreed to a take-over offer by US firm PerkinElmer, Inc.
The acquisition, which is for a total of £110m, will see shareholders receive 382p in cash for each Immunodiagnostic Systems (IDS) share, a 50% premium to Friday’s closing price.
The discussions between PerkinElmer and IDS have confirmed PerkinElmer's belief that a combination of IDS and PerkinElmer would bring “clear strategic and financial benefits.”
IDS said the combined entity would become a ‘premier player in immunodiagnostics, offering unique and synergistic solutions to mutual customers of both standalone businesses.’ In addition, and inter alia, IDS said it expects the acquisition to expand its ability to serve a broader customer base and accelerate the global growth profile of the portfolio.
MyHealthChecked (MHC) shares jumped 17.86% to 4.95p as it expands Boots deal
The consumer home-testing healthcare firm has signed an additional agreement with Boots UK Limited to supply its COVID-19 at-home nasal swab kit, laboratory testing service and logistics for day two and day eight ("D2/D8") coronavirus testing for international arrivals.
The Company said this latest contract with Boots for the D2/D8 testing service will run parallel, and be complementary, to its pre-existing agreement, announced last month.
The contract is expected to have ‘a significant impact’ on the future performance of the MHC business and whilst volumes are unquantified at this stage, the Board believes it is likely to result in substantial revenue growth in the financial year ending 31 December 2021.
Sareum Holdings (SAR) shares rose 16.49% to 2.825p as it prepares for clinical trials
Shares in the specialist drug development company have increased by nearly 60% since the company released its half-year report for the six months ended 31 December 2020.
In its half-year report, the company said it had made ‘substantial progress’ despite the challenges of the ongoing COVID-19 pandemic, particularly in reference to the preclinical development of the company’s proprietary dual TYK2/JAK1 inhibitor programmes.
The company is now working to finalise the preclinical programme for SDC-1801, which is needed to complete its preparations for clinical trials. Looking ahead, the group said it expects to submit its exploratory CTA mid-year 2021, which if approved would allow the first human trials with SDC-1801 to commence, marking an important milestone for Sareum.
Restaurant Group (RTN) shares fell by 5.68% to 121.2p as indoor hospitality returns
Shares in The Restaurant Group, which is one of the UK's largest independent restaurant groups, fell today despite the indoor hospitality sector restarting its activity across the UK.
“Hospitality stocks, which were crippled last year by the pandemic, have been among this year’s better performers in anticipation of their reopening,” the Times wrote. In fact, The British Beer & Pub Association estimating that pubs will pull around 3 million pints today.
Despite customers being able to sit inside for the first time in months, many hospitality stocks remained down. “Shares in the sector still lost their fizz this morning, however, with investors using the latest milestone to cash out after the winter rally,” The Times wrote.