Greggs (GRG) shares ticked up 10.55% to 3,176p as it upgrades full year expectations
The British bakery chain said it continued to trade well during its third quarter with two-year like-for-like sales up by 3.5% despite ongoing labour shortages and supply chain issues.
Greggs acknowledged it had not been immune to the shortages and that food input inflation pressures are also increasing. It said it has short-term protection as a result of its forward buying positions but that it expects costs to increase towards the end of 2021 and into 2022.
However, the Company expects its full year outcome to be ahead of previous expectations as it aims to double revenue to circa £2.4bn by 2026 across an estate of at least 3,000 shops.
Despite widely reported disruption to staffing and supply chains, Greggs said growth was particularly strong in August when a ‘staycation’ effect was evident and remained in positive territory in September, with two-year like-for-like growth of 3% in the four weeks to 2 October.
Marechale Capital (MAC) shares soared 28.21% to 2.45p following £0.16m raise
Marechale announced today that it has raised £160,000 at a price of 2.0p per share.
The proceeds will provide more working capital and funding for investment and co-investment opportunities that are presented to it in connection with its activity for corporate clients.
Empyrean Energy (EME) shares jumped 15.57% to 7.05p following contract win
Shares in the oil and gas development firm jumped after it was awarded a contract for the well site survey over the Jade prospect to China Oilfield Services on Block 29/11, offshore China, of which it is the operator of with 100% working interest during the exploration phase.
In the event of a commercial discovery, its partner, China National Offshore Oil Company, may assume a 51% participating interest in the development and production phase, it reported.
In preparation for spudding of the Jade prospect well in mid-December 2021, the Company has agreed a comprehensive scope for the survey with COSL which is scheduled to commence in late October 2021, subject to a safe weather window for operations.
Hotel Chocolat (HOTC) share rose 10.49% to 42.5p as FY21 profits exceed expectations
The British chocolatier said its results for the 52 weeks to 27 June 2021 demonstrated how the firm has evolved from “a UK store-led brand to a globally ambitious digital-led brand.”
Over the period, the Group saw revenues rise by 21% to £164.6m from £136.3m in FY20 with 70% of this revenue in the year generated through digital, partners and continuity products.
The Group, which also reported £10.1m in profit before tax and exceptional costs, up from £2.4m in FY20 and ahead of market expectations, said its set of results reflects the strong performance of its multichannel proposition and of its fast-growing active customer database.
Looking ahead, the Group said it has entered FY22 in ‘a strong position, with an increased active customer base, and with multiple clear avenues for further growth, spanning product ranges, channels and territories, all of which are delivering encouraging progress.’