Paragon Banking Group (PAG) shares ticked up 11.23% to 568.25p as profits reach record high
In its results for the six months ended 31 March 2021, the specialist banking group said underlying profits had increased to a record high, rising 44.9% to £82.9m at the half year.
Whilst not fully recovering to pre-Covid levels, originations across the Group rose by 45.1% from their second half 2020 levels to £1.13 billion compared to £1.27 billion in 1H20.
The group attributes its strong performance in the first half of the year to the resilience of its business model. The Group said it maintains ‘a strong capital base, high levels of liquidity and is well-positioned to capitalise on any opportunities that may emerge in the future.’
Norman Broadbent (NBB) shares soared 36.67% to 10.25p as it continues to see relief
Shares in the company have continued to see relief, rising over 20% in value since the publication of its final results for the year ended 31 December 2020 in which it noted ‘good momentum’ and its plans for further growth despite posting a fall in revenue for the year.
Over the period, revenue fell by 31.9% to £7.81m as a result of the pandemic while net fee income fell by c.18% which the firm said was ‘largely mitigated by quick and decisive cost control measures’. Meanwhile, EBITDA reduced from £238,000 in 2019 to £69,000 in 2020.
“The early and very decisive actions taken by us, combined with our broader portfolio of services and collaborative and innovative culture, meant we were better placed to respond to these challenges than others,” said Mike Brennan, CEO of Norman Broadbent Group.
Kodal Minerals (KOD) shares jumped 23.97% to 0.3p as feasibility study is accepted
The company said it has received formal correspondence from the Direction Nationale de la Geologie et des Mines ("DNGM") in Bamako providing notification of acceptance of the Feasibility Study for the Mining Licence application at the Bougouni Lithium Project in Mali.
Kodal, which has received the request to pay the application fee for the delivery of the Mining Licence, will pay the £0.135m application fee ‘promptly to continue to advance the application process and maintain communication with the DNGM to monitor progress.’
Bernard Aylward, CEO of KODAL highlighted that the request to pay the fee is a very positive development and brings the group “significantly closer to a fully permitted project."
Mineral & Financial Investments (MAFL) shares rose 12.77% to 13.25p as NAV rises 13%
By the end of the quarter ending 31 March 2021, the group’s net asset value was £6m, up 13.%, from £5.3m a year ago while NAV per share was 17.1p, up 13% from last year.
The company stated that its precious metals weighting has increased to 41.7% of its invested assets due to the performance of the group’s gold equity holdings, notably Cerrado Gold. The group said it continues to seek ‘a strategic investment’ in the copper sector.
Trainline (TRN) continue to fall amid railway overhaul, falling 4.25% to 260.7p
Once again, the stock continues to shed value (it lost almost one-third of its value on 20 May 2021) amid the UK Government’s plans to commit to digital ticketing through a new public body which some analysts say will be competing directly with the Trainline’s offering.
To date, and since the publication of the plan, the stock has shed 34% in value overall.
Trainline released a statement that same day in which it shared its support of the plan’s findings and recommendations, which it said were broadly in line with its expectations.
The company noted to investors that it expects that the plan's proposals, which it says will need to be ‘developed and subsequently implemented over the next several years,’ should improve the experience for rail passengers and drive efficiency for the wider industry.