Integrafin Holdings (IHP ) shares ticked up 5.68% as platform sees highest quarterly inflows
The Group, which operates an investment platform, said this morning that its Transact platform has achieved its highest quarterly inflows in the three months to 31 March 2021.
Compared with its second quarter last year, which was the previous highest quarter for the Company, gross inflows rose by 27% while outflows increased broadly as expected in line with funds under direction (FUD) and net inflows consequently were 33% higher, it noted.
On 31 March 2021 FUD was £0.046.9m, an increase of 4.7% over the quarter. Over the same period the FTSE All Share Index rose by 4.3% and the MSCI World Index rose by 3.6%.
“The strength of inflows reflects not only a strong tax year end performance, but also advisers' positive reaction to price reductions announced in December and our continuing delivery of quality service,” commented Alex Scott, Chief Executive of Integrafin Holdings.
He added, “The Company expects to announce half year results on 20 May 2021, which will include costs associated with the Nucleus process and the acquisition of Time for Advice, including on-going investment in that business to achieve profitability.”
Pelatro (PTRO ) shares soared 26.58% to 50p as it secures $6.5m revenue in contract wins
The telecom customer engagement hub software specialist unveiled to investors yesterday that it has secured several contracts for change requests, adding up to around $0.5 million.
With these change requests, which the Group said will be delivered in 2021, the total value of contracts in hand representing 2021 revenue represents approximately $6.5 million.
Commenting on this increase, Subash Menon, Managing Director and CEO said, "The continued growth in contracts augurs well for 2021 and beyond. Given that we have already secured contracts to deliver $6.5m of revenue for 2021 this early in the year, we have every confidence in our business roll-out and meeting our financial expectations for this year."
Immunodiagnostic Systems Holdings (IDH ) shares jump 23.68% to 235p as it makes recovery
On Friday, the pharmaceutical company reported that it is making a swift recovery from the effects of the COVID-19 pandemic. In its statement, it told investors that it expects to report revenue in 2H21 at £19m, up from £13.7m in H121, representing 39% growth H2 on H1.
In particular, the Group said higher revenue has been driven by a strong performance throughout 2H21 from the firm’s ‘comprehensive portfolio’ of COVID-19 tests available.
The Group noted that all key speciality revenue streams across its automated business unit returned to growth during 2H21. Looking ahead, it said the accelerated rate of placements of new analysers “lays the foundation for future growth from recurring assay sales.”
It said it is confident that ‘revenue growth seen in this business unit pre-pandemic will continue, and most likely accelerate because the Vitamin D products which have historically depressed growth rates are a progressively less significant proportion of the product mix. Thus the underlying growth in the speciality business should increasingly show through.’
Pantheon Resources (PANR ) shares rose 14.54% to 25.88p following Monday’s crash
Shares in the oil and gas exploration and production firm saw some light relief on Tuesday afternoon after shares crashed yesterday after the Group posted drilling results from the Talitha #A well in Alaska stating that the intermittent flow rate returned was ‘disappointing.’
Testing of the deepest of these zones, the Kuparuk formation, which flowed high-quality light oil intermittently at rates up to 100 barrels of oil per day, which Pantheon described as ‘a disappointing rate’, encountered a number of operational issues. In addition, the Group also stated that the Kuparuk formation proved more geologically complex than expected.
This cloud has a silver lining - when we plan to come back this coming winter, we will have the twin luxuries of a testing program incorporating the results of a thorough analysis of the dataset, and a much longer testing window,” said Technical Director, Bob Rosenthal.
He added, “The Kuparuk itself is not yet fully understood, but we believe it still offers tremendous potential if drilled differently given its inherent geologic properties. This experience is normal in the industry in any first well drilled in a new area.”
Airtel Africa (AAF ) shares dipped 5.13% lower to 71.125p following share placing
Shares in the British telecommunications company have fallen by over 4% in value since an institutional seller, whose name remains undisclosed, sold a 1.3% stake in the company.
The placing was conducted through an accelerated bookbuild and is expected to settle on 16 April. The seller is said to have placed 50 million shares of Airtel Africa at 75p each.