Premier Foods (PFD) shares tick up 4.93% to 102.4p as group continues to thrive in pandemic
Shares in the British food manufacturer have risen by nearly 5% in value over the past two weeks while the group has seen an almost four-fold increase in value since April 2020.
Premier has seen continued strong trading and cash generation as more people have turned to its product ranges in the face of heightened restrictions on out of home eating.
In a recent 3Q20 update, Premier told investors that it continues to take market share in volume and value terms after demonstrating “excellent execution both instore and online.”
Following the ‘exceptional quarter’, the group said it now expects trading profit to be in the range of £145-£150m this year after the group increased Q4 marketing investment.
As a result of the strong trading, the group outlined that it expects FY20/21 trading profit to be in the range of £145-£150m and for Net debt/EBITDA5 to be below 2.0x by the year end.
Premier African Minerals (PREM) shares jump 24.50% to 0.31p as it confirms exclusive prospecting order
Shares in the multi-commodity mining and natural resource development firm jumped on Friday after the company announced to investors that it has received formal grant of an exclusive prospecting order (EPO) covering its Zulu Lithium and Tantalum claims.
Commenting on the EPO, George Roach, CEO of Premier said, "I am deeply appreciative of the Zimbabwe Government for the granting of this substantial EPO and Premier will reciprocate with mobilization for the commencement of the Definitive Feasibility Study on the Zulu deposit which has an estimated completion time of 14 months.”
The granting of the EPO reaffirms the Zimbabwean Government policy that Zimbabwe is open for business and further supports the Ministry of Mines policy of creating a US$12 bn mining economy by 2023. The company noted that Zulu remains ‘a significant deposit.’
Tavistock Investments (TAVI) shares rise 20% to 2.4p as EBITDA remains 'significantly ahead’
The group, which told investors that it has moved its annual shareholder meeting to 7 Wednesday April 2021, said last month that it is in a ‘strong position’ to accelerate growth as it now expects to report EBITDA “significantly ahead” for the year to 31 March 2021.
Tavistock described its financial performance during the Coronavirus pandemic as ‘resilient’ while the Board expects to report gross revenues for the year broadly in line with last year.
It said the combination of strong investment performance and low-cost platform has been very well received by its clients - and also by advisers from outside the Company.
Commenting on the continued strong trading, CEO, Brian Raven, stated, “The Company is now in a strong position to accelerate its growth over the next few years and by so doing, deliver increased value to our shareholders and an enhanced service to our clients."
SkinBio Therapeutics (SBTX) shares rise again by 19.53% to 50.5p as it advances consumer study
Shares in the life science firm which is focused on skin health were up again, having more than doubled in value since the start of 2021. Since then, the Group’s AxisBiotix Limited has enrolled for and commenced its AxisBiotix-Ps™ food supplement consumer study.
The study surrounds a new food supplement created by the company alongside its partner Winclove Probiotics B.V. which was designed to balance the gut microbiome to address the over-production of new skin cells often seen in aggressive skin conditions such as psoriasis.
Following ‘an extremely high level’ of demand for participation in the study, the capacity was increased from 200 to 265 participants with the additional 65 places focusing on non-psoriatic conditions to explore the possible impact of probiotics on other skin conditions.
The study is targeted to conclude by the end of April 2021 and, following analysis of the data, the Company expects to be able to report on the study findings shortly thereafter.
It said the study will be monitored through a bespoke mobile device app, allowing for the study to progress amid COVID-19 restrictions. Subject to a positive outcome, the Company will then target a commercial launch of the product during the course of 2021.
Playtech (PTEC) shares fell 5.94% to 466.8p as it posts €73m loss and expresses caution over retail recovery
Shares in the gambling software firm were down today after posting a €73m loss in its final results for the year ended 31 December 2020 compared to a €55.9m profit in the prior year.
It reported earnings of €125.8m which was down 40% at constant currency vs 2019 due to ‘retail closures, a decline in Asia and significant hardware sales in the 2019 comparative.’ As a result of these closures, earnings from its gambling division fell to €132m (2019: €162.5m).
However, the group stated that this was partially offset by strong cost control as well as 58% growth in online revenues versus 2019. The group has ramped up its investment plans as it looks to capitalise on growth by expanding its presence across the US and Latin America.
Playtech said it has made a good start to 2021 in January and February ‘in context of ongoing lockdowns in certain markets’ with its online businesses performing strongly.
However, as a result of the lockdowns expected to remain in major markets into Q2, the group expressed caution in regard to a retail recovery. Mor Weizer, CEO of Playtech commented, "The significant strategic and operational progress we achieved in 2020 has placed us in a strong position to capture the exciting market opportunities ahead."