John Wood Group (WG.) shares recover after revenue fall, increasing 5.76% to 218.4p
Shares in the engineering firm saw light relief after it reported a c. 21% fall in revenue to $3.2bn from 1H20, which the group said was due to the impact of the COVID-19 pandemic.
The company added on Thursday that it expects adjusted EBITDA for the six months to 31 June 2021 to be $255 million to $265 million, down c.12% on 1H20 on a like-for-like basis.
Hurricane Energy (HUR) shares see relief and soar 27.14% to 2.176
Shares in the UK based oil and gas firm soared today despite having no news out. Last week, Hurricane told investors that it had successfully restarted the electric submersible pump in the Lancaster 205/21a-6 ("P6") well which had been impacted by a failure of its ESP.
Hurricane said it intends to target oil production from the P6 well at a rate of around 11,000 bopd, being a similar level to that achieved immediately prior to the trip on 8 June 2021. By this point, it is expected that volumes will continue into natural decline, it told shareholders.
On the same day, the Company confirmed that it would cost US$6.5 million net to plug and abandon its Lincoln-14 well in the Greater Warwick Area after it had contracted a rig.
The total cost of the programme will be US$13m, around US$6.5m net to the company.
Genedrive (GDR) shares jumped 16.16% to 57.5p ass it confirms new licence in India
In response to its share price, the near patient molecular diagnostics firm confirmed that it has received a licence to import its SARS-CoV-2 Kit into India via its partner DIVOC Health.
In recent weeks, India has introduced pricing controls in its routine public testing market that favours the provision of lower cost/basic tests than the Genedrive SARS-Cov-2 Kit.
As a result, the Company said it continues to assess specific commercial opportunities with DIVOC Health in both the Indian public and private markets. Today’s news follows the approval of the product at the Indian Centre for Medical Research on 30 April 2021.
Remote Monitored Systems (RMS) shares rose 10.58% to 1.15p following MHRA approval
The Group’s 5-ply version of its Pro-Larva anti-viral mask, developed with Volz Filters UK, has been approved by the UK's Medicines and Healthcare products Regulatory Agency.
The Company said the 5-ply mask has an additional filter layer after the hydrophobic outer layer, which “further strengthens the mask's already excellent bacterial filter efficiency.”
The approval follows yesterday’s news that its wholly owned subsidiary, Pharm 2 Farm Ltd ("P2F"), had signed a new distribution deal in India for 350,000 of its antiviral masks.
Crest Nicholson Holdings (CRST) shares fell 4.32% to 416.5p while it raises guidance
Shares in the British house building company fell on Friday despite declaring an interim dividend and raised its guidance on Thursday after the business saw a return to profit.
For HY21, Crest swung to pre-tax profit of £36.3m vs a loss of £51.2m in 2020. Revenue also rose to £324.5m (HY20: £240.0m) while home completions increased to 1,0171 (HY20: 775).
As a result, Crest declared an interim dividend of 4.1p per share which it said reflects its confidence in its outlook. The Board said it expects FY21 profit to be at least £100.0m.