Savills (SVS) shares ticked up 9.09% to 1,441.5p says FY21 came in ahead of expectations
The real estate advisor said it has experienced “an extraordinarily strong final trading period” for the year to 31 December 2021, particularly in the UK and Asia Pacific regions, as well as improved performances across Continental Europe and the Middle East and North America.
It said this activity has more than eliminated its losses of 2020 and that its businesses have exceeded forecasts ‘notwithstanding the impact of renewed pandemic-related restrictions.’
In addition, as previously disclosed, the Group said it has benefited from substantially lower levels of discretionary expenditure in respect of travel, entertaining and marketing events in particular. These are expected to revert to more normal levels over the course of 2022.
As a result of this strong trading performance coupled with the benefit of abnormally low levels of discretionary expenditure, the Group said it expects Underlying Profit Before Tax for 2021 to be “very significantly” ahead of the upper end of its previous range of expectations.
Ten Lifestyle Group (TENG) shares jumps 15.84% to 115.5p as it secures multi-year contract
Today, the technology-enabled concierge platform says it has won a multi-year contract with a new corporate client that is ‘one of the world’s largest private banks and wealth managers.’
The Company said it plans to launch its digitally-enabled concierge service to a select group of the new, unnamed client’s private banking customers in the Americas in the spring of 2022.
This is expected to be a ‘medium’ contract with the potential to grow if the success of this initial launch leads to the expansion of the service to other geographies and companies.
Bradda Head Lithium (BHL) shares rise 13.71% to 11.2p as it unveils positive test-work
The North America-focused lithium development group has announced positive results from its preliminary metallurgical test-work programme that it has completed with SGS Canada.
The Company explained that its test-work programme involved assessing samples from its 100%-owned Burro Creek East lithium deposit. Burro Creek East already has a JORC compliant resource identified, and an updated resource is expected in 1Q22, it reiterated.
Bradda said the results have shown that it is possible to upgrade the lithium content in the proposed feed fraction by approximately 15%, by selecting only the -11micron size fraction.
It said ‘impressive’ acid leach results indicate a 99% lithium extraction to solution in 1-hour utilising a 90 degrees Centigrade, sulphuric acid leach at atmospheric pressure approach.
It said the results can potentially lower process plant opex and capex costs and that they compare favourably with other results on extracting lithium from claystone mineralisation.
Portmeirion Group (PMP) shares rise 13.23% to 700p as it hails continued high demand
In a trading update, the homeware designer, manufacturer and distributor reported “an excellent Christmas seasonal trading period”, with “very high demand” for its consumer homeware brands around the world and strong sell-through across its key channels.
As a result of its solid performance, the Company said it now expects sales to be at least £104 million or 10% above current consensus market expectation forecasts for FY21.
The Company said this represents “the highest ever level of sales for the Group” driven by strong progress on its strategy in developing new sales channels, particularly online.
The Group expects its profit before tax for FY21 will be at least £7m, an increase of 9% over current consensus market expectations and a multiple increase compared to £1.4m in 2020.