Biffa (BIFF) shares ticked up 3.25% to 346p as trading beats expectations
In a trading update ahead of its AGM on Monday, 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.
600 Group (SIXH) shares rose 14.8% to 13.5p as it expects profit to be in line with FY20
In a trading update, the diversified industrial engineering company reaffirmed its previous expectations for FY21 and stated that it expects to report annual profit in line with FY20.
The group said underlying pre-tax profit for FY21 is expected to be $1.1m as a result of the Group’s ‘swift response’ to the COVID-19 pandemic. Group net debt as at 31 March 2021 (excluding IFRS16 lease liabilities) was $12.8m, reduced from $14.2m as at 28 March 2020.
The Company said its group order book stood at $14.1m as at 31 March 2021 which has since increased to $22.5m as at 15 July 2021 with $12.9m (57%) of the current order book relating to the Group's higher margin Industrial Laser Division which is ‘progressing well.’
Goldplat (GDP) shares jumped 13.57% to 7.95p as it grants deadline extension
Shares in the gold recovery services company jumped on Monday after the Group gave an update in regard to the sale of its Kilimapesa asset to Mayflower Gold Investments.
Goldplat said it has now provided both Mayflower Gold and Papillon an extension to 23 August 2021 to complete its re-admission to trading on the LSE. Mayflower Gold Investments had previously hoped to complete a reverse takeover of Papillon Holdings by 16 July 2021.
In addition, the Company confirmed that it is increasing its interest in its principal operating subsidiary, Goldplat Recovery (Pty) Ltd., to 90.63% from 74% by buying back shares held by minority shareholders for 89.3 million rand ($6.1 million) to be settled in two installments.
Cambridge Cognition (COG) shares rose 7.16% to 179.5p after securing £1 million contract
The firm announced on Friday that it had won a £1m contract as the cognitive assessment partner for a late phase cancer trial focused on improving outcomes for cancer patients.
The Group, which provides digital solutions to assess brain health, said this contract marks its second win for a top ten pharmaceutical firm ‘with a strong pipeline of oncology products.’ The revenue from the contract is expected to be recognised over the next six years.
According to GlobalData, oncology is the leading therapeutic area for drug development and accounted for nearly a third of clinical trials in 2020. Therefore, the Company said this latest contract positions the business within the world's most consistently active disease space.
Hochschild Mining (HOC) shares fell 4.48% to 147.1p as gold prices remain down
The Company has shed nearly 20% in value over the past three months. In recent weeks, the price of gold - a commodity which had once thrived during the ongoing COVID-19 pandemic - reached its worst month in nearly five years, the Times wrote at the end of June 2021.
In recent news, the firm published its 2020 sustainability report on Monday. It said it expects further electric vehicles to arrive at its mine sites in Latin America which forms part of its efforts to cut emissions and reduce ventilation requirements at its underground operations.
Addressing shareholders in the report, the company highlighted that: “In 2021, we hope to expand our electric fleet with the purchase of electric vehicles for use in larger underground chambers that will not only reduce our carbon footprint but will also cut ventilation costs.”