MOVERS OF THURSDAY 11 MARCH 2021
The specialist landscape products group unveiled results for the year ended 31 December 2020 in which it stated that it had raised its expectations for 2021 following a period of strong trading.
As a result, the Board is now proposing a final dividend of 4.30 pence which compares with earnings per share of 8.60p for the year ending 31 December 2020.
The group informed investors that trading had also started strongly in 2021. At the end of February, sales were up 7% while orders were up 12% compared to the same 2020 period.
The group said its current strategy continues to be underpinned by 'strong market positions, focused investment plans and an established brand'. Marshalls also noted that its liquidity remains strong and that this is expected to support its investment priorities going forward.
shares jumped 31.37% to 1.7p as it inks new long-term contract
The end-to-end digital music solution provider said it has signed a contract, with an expected term of 24 months, with content community and social platform, Kuaishou Technology.
Under the terms of the long-term contract, the company will provide Kuaishou's mobile apps with licensed music globally. The group said it believes the contract strengthens its revenue visibility as it includes ‘a set-up fee, a monthly recurring access fee, and a usage fee.’
As a result, Kuaishou will benefit from the company’s technology and scale and will be able to give users easy access to rights-cleared music that can be used across any platform, it noted.
shares rose 28.13% to 10.25p following recent return to profit
Shares in Jaywing have increased by nearly 30% in the past three months. While the group hasn’t released any news today, the group did see a return to profitability at the end of 2020.
The integrated data science agency posted its half-year results for the six months ended 30 September 2020 back in December, reporting a significant turnaround in profitability, delivering £1.4m of adjusted EBITDA for 1H20 compared to a loss of £0.6m during 1H19.
‘Despite a fall in revenue primarily brought about by COVID, we have been able to stabilise the business and restore it to both profitability and strong cash flow generation,’ it noted.
Jaywing added that it continues to win new business with new clients including Ikano Bank, Starling Bank, Studio Retail and Costcutter, as well as further business with existing clients.
Looking forward, the group told investors, “We are nonetheless confident that the business is now on a secure footing with the foundations in place for recovery and future growth.”
rise again by 11.45% to 3.64p following £6m raise
Shares in Quadrise have risen by over 15% since the group announced last week that it had raised up to £6m in what it described as “a significant endorsement” of its strategy and team.
The group said the proceeds will be used to enable it to capitalise on “the exciting opportunities” for its alternative and renewable fuel products, MSAR® and bioMSAR™, which were developed by the company as low-cost, cleaner alternative products to heavy fuel oil.
shares fell 4.72% to 886.8p as Third Point raises placing to sell 12 million shares in the group
The group told investors on Thursday that Third Point Hellenic Recovery Fund LP has updated its placing announced earlier on Thursday to sell 12 million Energean shares.
The oil and gas firm, which initially launched a secondary placing to sell 10m of Energean shares, said it now intends to raise gross £104.4 million at a price of 870p per share.
The FTSE-250 group told investors that the placing will take place through an accelerated bookbuild, with the books opening immediately. It added that the sale is subject to demand, price and market conditions and is expected to close no later than 1830 GMT on Thursday.
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