Biffa (BIFF) shares ticked up 2.91% to 335.5p as trading beats expectations
In a trading update ahead of its AGM today, Biffa told investors that trading in the first three months of FY22 has been well ahead of the Company's expectations, as a result of the faster than expected recovery of the UK economy since Covid-19 restrictions began to lift.
Group revenues in the first quarter were 10% higher than during the equivalent period two years ago (1Q20) and recycled commodity prices are at the highest levels since 2018.
If the reopening of the economy continues as planned, the Board expects full year profit to be c.10% above current market consensus which for the year to March 2022 is £87.6m.
Sumo Group (SUMO) shares soared 40.22% to 501 as it agrees to be bought in £919m deal
The British video game holding company confirmed to investors today that it has agreed to be bought by Chinese technology giant Tencent in a deal that values the company at £919m.
It was announced earlier this morning that both the boards of Tencent Holdings and Sumo Group had reached a final agreement regarding the terms of a recommended all-cash offer.
Tencent will acquire Sumo’s share capital through its wholly-owned subsidiary Sixjoy Hong Kong, which members of the Tencent Group do not already own at a price of 513 pence per share. Following the deal, Sumo will be valued at about £919m on a fully diluted basis.
Kodal Minerals (KOD) shares jump 11.84% to 0.425p following progress in Côte d'Ivoire
In an update released last month in regard to the firm’s gold exploration programme in Côte d'Ivoire, Kodal told investors that it was making “great progress” as it prepares to undertake drilling which will determine the potential for primary gold mineralisation at the site.
In addition to its gold activity, the company also informed investors that it continues to focus on its Mining Licence Application in Mali, which it said was ‘progressing as expected.’
Feedback (FDBK) shares ticked up 9.38% to 0.875p as it secures its first Bleepa contract
On Friday, the specialist medical imaging technology firm announced that it had won its first contract with a private firm CVS Group for its Bleepa clinical communications technology.
The contract follows a successful pilot of the platform and demonstrates Bleepa's value in new markets, Feedback said. Bleepa will be rolled-out across 20 equine specialist surgeries.
It said the agreement will result in increased Bleepa users, and importantly, provides scope for a broader relationship with CVS and that the deal highlights the scalability of Bleepa and Feeback’s ability to target non-NHS markets by tailoring the platform accordingly.
Cineworld (CINE) shares fell 9.82% to 56.82p as industry take a hit with rising cases
Cineworld’s share price fell back down to as low as 56p. Despite the UK seeing most of its lockdown restrictions eased today, and despite entertainment stocks seeing some relief last Friday, rising COVID-19 cases have cast further scepticism about the future of the industry.
Recently, entertainment stocks, particularly cinemas, have felt the pressure as subscriber numbers for online streaming platforms such as Netflix and Amazon have only increased.
According to Bloomberg, cinema stocks have failed to receive the boost it needed after Walt Disney Co.’s new movie “Black Widow” was almost as popular online as it was at the cinema.