Movers of Thursday 12 August 2021 

 shares ticked up 6.04% to 64.96p as it hails ‘resilient’ performance 

In its half-year results for the six months to 30 June 2021, Cineworld said it has delivered ‘a resilient performance’  in a very challenging market after ‘strengthening its liquidity position and continuing to demonstrate tight control over its operating costs and cash usage,’ it said. 

Commenting on these results, Mooky Greidinger, Chief Executive of Cineworld Group, said: "Despite the challenges, the actions we have taken have ensured that Cineworld has emerged a more focused business with significant liquidity and a clear vision for the future.” 

The Group said trading had been ‘encouraging’ since the re-opening of its sites in April. 

Looking ahead, Greidinger added: “I am confident that the business is in a strong position to execute its strategy and deliver a return to growth as we recover from the pandemic and capitalise on the forthcoming strong film slate alongside clear pent-up consumer demand." 

 shares soared 28.57% to 1.35p following strong trading 

In a trading update, the specialist kitchen manufacturer and retailer told investors that it is encouraged by the strong trading performance since reopening its stores in April 2021. 

The Group has entered the new financial year with an order book ‘substantially’ higher than in recent years.The total value of dispatched sales and forward orders (which the Board considers to be the best measure of current trading) for FY22 currently stands at £4.7m. 

This comprises £2.3m of sales recorded to date and £2.4m of forward orders, against which first stage deposits have been received, it explained. The total value of £4.7m compares to values of £2.8m at this stage of the financial year in each of the last two financial years. 

The Board believes that it is well-positioned to divert its Company online, should there be any disruption to the retail sector, to minimise any adverse impact on its order book. 

  shares jumped 14.20% to 92p as it sees strong recovery 

The global specialist staffing group said it has seen strong recovery in profits as the group reported adjusted profit before tax up 67% on prior year as well as 8% ahead of 2019. 

“Our H1 results reflect not only an improving global economic environment but evidence the operational improvements we have put in place and the acceleration of many of these initiatives last year,” said CEO, Driggs, who added that full-year profit is now expected to be significantly ahead of the prior financial year and current market expectations. 

 shares rose 13.70% to 4.15p with new acquisition 

The UK technology firm which is focused on commercialising hydrogen production from plastic announced that it is to acquire a 48% stake in engineering consultancy Engsolve.  

The acquisition is intended to maintain Engsolve's continued support of PHE’s projects and developments and will ensure that its expertise remains available to Powerhouse in future. 

An engineering solutions company, Engsolve made a profit after tax of approximately £137,000 in the year to 31 March 2021 on a turnover of approximately £840,000. 

 shares fell 4.83% to 417.8p despite 1H21 pre-tax profit surpassing FY20  

Despite falling again, Ferrexpo has gained over 70% since the start of the year. Last week, in its half-year report for the six months to 30 June 2021, the Group reported a 74% revenue rise by 74% to $1,353m, reflecting market conditions and investments in increasing pellet quality.  

Pre-tax profit for the first half surpassed FY20 results, more than doubling to $896.9m. In comparison, pre-tax profit for 1H20 was $294m and $747.9m by the end of the FY20 year.  

Lucio Genovese, Non-executive Chairman of the Company said the strong set of half-year results were demonstrative of Ferrexpo’s multi-year investment programme in its assets.  

Genovese said this has enabled it to take full advantage of the current strength of the iron ore market through its high grade iron ore products, “but also to deliver these results alongside excellent safety performance and continued progress in cutting carbon emissions.”