Diploma (DPLM) shares rise 10.91% to 2,784p as it unveils £100 million acquisition
In a trading update released today, the Company said its trading performance so far in 2022 has been “strong” with double digit underlying growth in 2Q (consistent with 1Q) driven by a combination of organic revenue initiatives, market share gains and robust demand.
It acknowledged to investors that its operating margin performance is “very encouraging” as the group continues to navigate inflation, supply chain challenges and tight labour markets.
Today, Diploma has also announced the acquisition of R&G Fluid Power (“R&G”), a high quality aftermarket distribution business for our Seals Sector in the UK, for ca. £100m.
AMTE Power (AMTE) shares jump 22.41% to 106.5p amid new EV partnership
AMTE, which develops and manufacturers lithium-ion and sodium-ion battery cells for specialist markets, said it has partnered with Sprint Power and Eltrium to accelerate the development of next-generation battery technologies in the electric vehicle (EV) market.
The collaboration will start in 2022 and will aid global car makers and start-ups as they ramp up development of hybrid electric vehicles, plug-in hybrid electric vehicles and battery electric vehicles covering automotive, marine, aerospace, commercial and off-highway vehicles.
Fergal Harrington-Beatty, Head of Electric Vehicles at AMTE Power, highlighted to investors that he believes there is “huge potential” for growth within the EV market as governments around the world gear up for its 2030 deadline to end the sale of petrol and diesel cars.
Sareum Holdings (SAR) shares rise 18.75% to 237.5p as the company is granted patent
On Monday, the specialist drug development firm said the European Patent Office had issued a formal notification of grant for a patent in respect of an invention associated with Sareum’s proprietary SDC-1802 TYK2/JAK1 inhibitor programme which comes into effect in May 2022.
The patent will protect the SDC-1802 molecule and pharmaceutical preparations thereof as a therapeutic to treat T-cell acute lymphoblastic leukaemia as well as other cancers that are dependent on TYK2 kinase for survival. The programme remains in preclinical development.
Microlise Group (SAAS) shares tick up 15.70% to 140p as revenues jumps to £88.3m
The Group, which provides transport management software to fleet operators, reported revenue at £88.2m for the 18 months to 31 December 2021, up from £50m in 2020.
In its final year results, Microlise said it has now entered FY22 with a strong order book and significant demand for both existing and new solutions, leading to a strong sales pipeline.
As a result, the Board said it is confident of delivering a performance for the full year in line with current market expectations, given a strong start to trading during the first quarter.
Commenting on this morning’s final results, Nadeem Raza, CEO of Microlise told investors: “The industry opinion is that from Q3 2022, the situation will improve and return to pre-pandemic levels by Q3 2023, which will enable us to meet our customer demand.”