Crest Nicholson Holdings (CRST) shares ticked up 4.61% to 349.2p as it raises profit forecast
In a trading update released today, Crest Nicholson told investors that it expects pre-tax profit for FY21 to be marginally ahead of consensus of £101.2m following a strong 2H performance.
Reflecting on the year to date, Crest Nicholson said it has remained active in the land market during FY21 with 4,332 plots having been approved for purchase at a gross margin of 26.7%.
Commenting on its trading performance, CEO of the company Peter Truscott, outlined:
“The Group now has the necessary resources and capabilities to grow its footprint in the UK and we see this as the best way to maximise shareholder value over the medium term.”
Braveheart Investment Group (BRH) shares jumped 27.27% to 35p amid soaring profit
Shares in Braveheart Investment Group have increased by over 30% since Monday following the publication of its results for the six months to 30 September 2021 in which it reported that profit had soared to £2.8m from £0.40m in 1H20 and on income rising to £3.3m from £0.89m.
The company said it has now increased the book value of its 42.67% holding in PhaseFocus to £3.6m from £0.437m and that it plans to sell the investment within the next 12 months.
Silence Therapeutics (SLN) shares 12.18% to 619p as the group reports strong growth
On Tuesday, Silence Therapeutics said revenue for the three-month period ended 30 September 2021 had increased by £1.2m from the same three-month period in 2020.
It said growth is a result of the further advancement of the partner programs, as well as the introduction of additional programs with its partners. For the nine months to 30 September 2021 revenue was £9m compared to £3.1m in the nine months to 30 September 2020.
By period end, it had cash, cash equivalents and term deposits of £76.5m up from £43.9m.
Red Rock Resources (RRR) shares ticked up 9.52% to 0.575p following gold discoveries
On Tuesday the natural resource development company told investors that it has identified new exploration targets in its Eastern license in Kenya, as well as a ‘significant new target zone’ in its Western license in Kenya, as the price of gold continues to strengthen globally.
Commenting at the time of the statement, Red Rock Resources’ Chairman, Andrew Bell said:
“After reaching highs above $2000/oz in late Summer 2020, Gold has underperformed most other asset classes since, as it came back to consolidate around its breakout levels.
There are now signs, with the better performance in the last month, that it is breaking this downtrend, in which case it may reach or exceed last year’s highs in the next months. We have some confidence that fundamentals can support it at or around current levels.”
Since the larger part of Red Rock’s interests are in gold, Bell said it was “an appropriate moment” to set out its gold exposure across its projects, noting that its gold interests in the African Greenstone Belts have now extended “with the submission of five license applications in the Côte d’Ivoire and the setting up of an operational subsidiary in Burkina Faso.”