Softcat (SCT) shares were up 9.21% to 1,529p as it hails continued positive trading
The London-listed UK provider of IT infrastructure technology and services said trading has ‘continued to be positive' since its 1Q21 statement from 16 November 2020.
‘The corporate picture has continued to improve but is also somewhat mixed, with some customers pursuing large projects and others taking a more cautious approach,’ the company told investors, adding that demand from its public sector customers had remained strong.
It noted that ongoing investment in its multinational and technical capabilities, which it said continued throughout 2020 despite the challenges of Covid-19, has enabled it to play an important role in these large projects with both corporate and public sector customers.
The company added that, “Much still needs to be done in the second half of the financial year which remains difficult to forecast, but with the seasonally important December trading period behind us we are significantly ahead of where we expected to be at this stage.”
Microsaic Systems (MSYS) shares jumped 50% to 0.3p as it bounces back from December slump
Shares in the high technology company are bouncing back after last month’s performance where the stock lost two-thirds of its value as a result of the group ending its formal sale process.
The group, which develops point-of-need mass spectrometers, said it had not received any definitive offer that would provide sufficient funding for the company to pursue its plans.
As a result, Miscrosaic said it had appointed KRE Corporate Recovery Limited to search for other remaining options to maximise value for creditors and potentially other stakeholders.
Despite the stock being on the recovery after reaching lows of 0.3p last month, shares in the AIM-listed company still remain around 70% below their pre-pandemic worth.
Eden Research (EDEN) shares rose 26.40% to 15.8p as it receives LSE's Green Economy Mark
Shares in the company which is focused on sustainable biopesticides and plastic-free encapsulation technology for use in crop protection, animal health and consumer products industries, jumped after Eden received London Stock Exchange's Green Economy Mark.
The Green Economy Mark recognises London-listed companies that derive over 50% of their total annual revenue from products and services that contribute to the global green economy.
Sean Smith, Chief Executive of Eden Research, said, "We are delighted to be the first company to receive London Stock Exchange's prestigious Green Economy Mark in 2021.”
He added that, “We continue to see a growing number of investors putting ESG and sustainability at the heart of their decision making process. This is a significant accreditation for Eden and we are honoured to be part of this esteemed group of companies and funds."
Quadrise Fuels International (QFI) shares jump 25.10% to 2.95p as UK continues to advance towards Green Industrial Revolution
Last month, Quadrise, which supplies MSAR® emulsion technology and fuels, a low-cost, cleaner alternative to heavy fuel oil ("HFO"), said it was launching sustainable fuel product "bioMSAR®” as an alternative to HFO with significantly reduced greenhouse gas emissions.
The benefits of bioMSAR®, which utilises MSAR® technology to combine renewable glycerol with water and refinery residues to produce an oil-in-water emulsified synthetic HFO, are lower emissions, including 20-30% less carbon dioxide, lower NOx and lower particulates.
The release comes at a time when the UK is set on creating a net zero industrial zone that will encourage all industries to collectively reduce their carbon dioxide emissions to as close to zero as possible using low-carbon energy sources and new technology like carbon capture.
Decarbonising UK industry is a key part of the government’s ambitious plan for the so-called ‘Green Industrial Revolution’, which is laid out in its Ten Point Plan and Energy White Paper and is set to create around 220,000 jobs as we ‘build back greener’ over the next decade.
Ascential (ASC) shares dip slightly by 3.58% to 377p while analysts back stock as 'long-term benefactor' of Covid-19
Shares in the specialist information, data and analytics company dipped slightly during Tuesday trading as the UK entered its third national lockdown.
The media firm had swung to a half-year loss back in July 2020 as group revenue declined due to the coronavirus pandemic. While the company experienced strong growth from digital businesses it saw "considerable headwinds" for its live events and marketing sector.
Despite the ongoing hit to its events business, the company upgraded its guidance last month as it informed investors that its e-commerce business continued to thrive amid the pandemic.
It said total revenue for the Company for the year ended 31 December 2020 is expected to be in the range of £298m to £302m compared to consensus of £297m. This compares with revenue for 2019 of £416.2m or, at the top of the guided range, a year-on-year drop of 27.4%.
In a recent trading update, the company highlighted that profitability has improved as the year has progressed through a combination of strong cost control measures taken in response to the pandemic and a positive revenue mix in favour of higher margin digital revenue streams.
Despite the dip, analysts at Liberum wrote last month that: “Ascential will be a long-term benefactor of Covid-19 given the underlying shift to omni-channel and e-commerce, and with Amazon’s dominance within this space, should catalyse revenue growth in the digital commerce division, with the events business fully recovering in the long term."