Dechra Pharmaceuticals (DPH) shares ticked up 2.05% to 4,7p as trading remains stronger than expected
In an update released earlier this week, the Group said its recent stronger than expected trading performance has continued for the remainder of the full year to 30 June 2021.
Dechra said it has delivered excellent organic revenue growth supplemented by the product acquisitions of Osurnia® and Mirataz® both of which delivered ‘good incremental growth.’
Commenting on the trading update, Ian Page, CEO said, "We are pleased to have continued to outperform a robust market throughout the pandemic affected financial year. We have benefited from above average market growth in the majority of our key CAP markets.”
System1 Group (SYS1) shares jumped 14.22% to 259p as analysts raise target price
In its results for the year to 31 March 2021, System1 Group reported a 46% increase in profit before tax to £3m for the period with statutory profit before tax up 601% to £2.1m, despite seeing revenue during the year fall 11% to £22.8m from £25.5m in the prior year.
"As System1 returns to its pre-pandemic level of revenue, we do so in a position of relative strength. Cash balances and cash flow are healthy, and we will continue to invest in our products, data assets and talent,” said Founder and Executive President John Kearon.
Looking forward, System1 plans to remain profitable and to continue to generate cash in the 2021/22 financial year, as it prioritises scaling its automated prediction products.
Analysts at Canaccord Genuity raised their target price on System1 Group from 300.0p to 370.0p on Wednesday morning after the group’s results came in ahead of expectations.
Kromek Group (KMK) shares jumped 12.32% to 17.55p as it expects record results
In its final results, the detection technology supplier said it remains on track to deliver its record annual revenue for the year to 30 April 2022, reflecting significant growth in 2021.
Alongside a strong set of results, Kromek also announced a set of new contracts wins and repeat orders across all of its target segments which it said reflects commercial momentum.
CEO, Dr Arnab Basu, said: "It is great to be winning contracts and orders across our target markets as our customers increasingly return to pre-pandemic trading patterns. All of this adds to our visibility for the year ahead as we remain on track to deliver significant growth."
Jarvis Securities (JIM) shares rose 8.16% to 265p as it reports 27.9% profit increase
In its half-year results for the six months to 30 June 2021, Jarvis Securities reported a 19.0% revenue increase on 1H20 and a 27.9% increase in profit before tax from the same period.
Addressing shareholders, Chairman and Chief Executive of Jarvis Securities, Andrew Grant, commented, “I am delighted to present a set of results that I believe demonstrates the last year was not a unique period relating to extraordinary market conditions, but evidence of the growth that the business has made, and continues to make, over the past five years.”
He added, “Trading conditions have been favourable, but we have not seen the extreme volatility and accompanying spikes in daily volumes that occurred in 2020.”
Cineworld Group (CINE) shares fell 10.49% to 57.31p as online viewings remain strong
Today, Cineworld’s share price dropped as low as 56.4p, its cheapest for five months. The fall follows rising scepticism that Britain’s cinemas will return to full capacity from 19 July 2021.
Entertainment stocks, particularly cinemas, are also feeling the pressure as subscriber numbers for online streaming platforms such as Netflix, Disney and Amazon increase.
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.
‘As a result, the largest cinema chains fell. AMC Entertainment declined 7.8% last Monday, its sixth drop in seven trading days, despite announcing it had a pandemic attendance record.’
“The film may inform other studios that want to test a quicker release to streaming, especially as the pandemic continues to trouble parts of the world’ the publication wrote on Sunday.