Liontrust Asset Management (LIO) shares ticked up 5.03% to 1,838p while the business continues to outperform expectations
In its final results released last week for the year ended 31 March 2021 the independent fund management group reported a pre-tax profit increase of 69% to £64.3m (FY20: £38.1m).
Commenting on the results, CEO of Liontrust, John Ions, said the business had outperformed expectations over the past year as evidenced in Liontrust generating net inflows of £3.5 billion and a near doubling in its AuMA, with a subsequent rise to £33.3 billion as at 18 June 2021.
He said the business’ momentum is demonstrated by the industry's sales figures for the first three months of 2021. According to the Pridham Report, Liontrust had the third highest net retail sales in the UK in the first quarter of the year and was placed fifth for gross retail sales.
Mulberry Group (MUL) shares soared 18.52% to 320p ahead of its FY21 results next month
Shares in the luxury brand, which is known internationally for its leather goods, soared on Tuesday despite having no news out. In its last trading update released in April 2021, the Company stated that it would outperform expectations for the year ended 27 March 2021.
This forecast followed continued strong growth across the Group’s Asian markets, strong sales across its global digital platforms and improved margins due to lower mark-down sales.
In fact, digital sales increased 68% to £23.4m, compared with £13.9m the previous year.
As a result, the Board expects to outperform expectations and report a small underlying profit before tax for FY21. Mulberry expects to release its preliminary results for FY21 in July 2021.
Eve Sleep (EVE) shares jumped 10.53% to 4.2p while business expands its product range
The direct to consumer sleep wellness brand which operates in the UK, Ireland and France said it intends to issue a trading update for the six months ended 30 June 2021 next month.
In February 2021, Eve unveiled a new partnership with Sana Lifestyle, a distributor and licensee of CBD and plant-based wellness products. It said the collaboration would see the two brands partner and release an all-new range of CBD oils to market in early 2021.
Cheryl Calverley, CEO at Eve, said the company has been expanding its product range over the past year and it had now created its own CBD range. The new CBD range consists of oil drops that incorporate two CBD infused extracts, both renowned for aiding relaxation.
Kodal Minerals (KOD) shares rose 9.76% to 0.45p as it hails progress in Côte d'Ivoire
In an update released earlier this month in regard to the firm’s gold exploration programme in Côte d'Ivoire, Kodal told investors that it was making “great progress” as it prepares to undertake drilling which will determine the potential for primary gold mineralisation at the site.
In addition to its gold activity, the company also informed investors that it continues to focus on its Mining Licence Application in Mali, which it said was ‘progressing as expected.’
TUI (TUI) shares fell 4.77% to 365.6p as travel stocks suffer amid new variant
The world’s largest tour operator is amongst several travel stocks to slump whilst the Delta variant, the COVID-19 strain first detected in India, continues to spread across Europe.