SSP Group (SSPG) shares jump 5.85% to 249.3p as revenue recovers, growing 212.9%
Shares in SSP Group have reached highs of 267p today after the hospitality operator reported a 212.9% revenue jump to £803.2m in 1H22 compared to £256.7m reported in the prior year.
SSP Group has attributed its recovery to the lifting of Covid-19 restrictions and acknowledged that a resurgence in travel has led to a rise in consumer demand at its units across UK bases.
The company reported a £14.7 million EBITDA against an underlying EBITDA loss of £110.3 million year-on-year, alongside an operating profit of £26 million from a loss of £219.9 million.
“The business is recovering well from a hugely challenging period. We have seen a significant rebound in trade since the impact of Omicron, with revenues currently running at over 80% of pre Covid-19 levels and with a similar proportion of our sites now open,” it wrote this morning
I-nexus Global (INX) shares jump 51.06% to 7.1p, having jumped over 6% in May alone
Despite having no news out today, shares in i-nexus jumped as high as 7.75p on Tuesday. The software firm, whose shares had fallen 25% since 6 May, has risen by 6.6% since then.
SIMEC AtlantisEnergy (SAE) shares jump 30.49% to 2.675p as it signs £40m contract
The sustainable energy project developer has signed a £40m contract to deliver a 230MW / 460MW battery energy storage system at one of the UK’s largest battery storage projects.
SIMEC said the 230MW / 460MWh battery energy storage system (BESS) plays a key role in the UK’s energy transition as it integrates more renewable power into the electricity system.
The project is expected to deliver SIMEC around £40m in revenue over 30-years, of which c.£11m will be paid within the next 18 months, subject to the achievement of milestones.
Synairgen (SNG) shares jump 14.66% to 35.11p after it reports a ‘strong clinical rationale’
Last week, Synarigen unveiled the first full set of data analysis from its Phase 3 SPRINTER trial evaluating the efficacy and safety of its lead asset in patients hospitalised with COVID-19.
The respiratory company is currently developing its lead asset SNG001, an investigational formulation for inhalation containing the broad-spectrum antiviral protein interferon beta.
SPRINTER was a randomised, placebo-controlled, double-blind clinical trial assessing the efficacy and safety of SNG001 for treating adults hospitalised due to COVID-19 who required treatment with supplemental oxygen. Initially, the study did not meet its primary endpoints.
However, closer analysis of the data has revealed its underlying potential in high-risk groups, with researchers finding that the risk of progression to severe disease and death compared to a medicinally inert placebo in the patients trialled was reduced by 70% by taking SNG001.