Quadrise Fuels International (QFI) shares ticked up 2.29% to 5.65p
Shares in the company which manufactures emulsion fuels have increased by over 1.5x in value since the beginning of 2021. In its results for the 6 months ended 31 December 2020 released in March, Quadrise hailed its performance in the last three quarters of the year.
Quadrise said it has built a firm foundation through a broader project strategy which will enable it to progress new projects through various stages of tests and trials in 2021/22.
Specifically, the group said it expects 2021-22 to be a very busy period as it ramps-up its activities across all its active projects in the industrial, upstream and marine markets, alongside the continued testing and development of its new, renewable fuel bioMSAR™.
Back in March 2021, the group raised gross proceeds of £7m which it said will enable the company to progress its active projects and its planned migration to commercial contracts, therefore providing a clear path to sustainable commercial revenues going forward.
Invinity Energy Systems (AIM:IES) shares soar 29.67% to 159.5p as its subsidiary is to jointly develop a grid-scale flow battery
Invinity Energy Nexus, a wholly owned subsidiary of Invinity Energy Systems announced today that it has entered a joint development and commercialisation agreement with Gamesa Electric, a wholly owned subsidiary of Siemens Gamesa Renewable Energy.
The firms will jointly develop a grid-scale vanadium flow battery based on Invinity's proven technology and by incorporating Gamesa Electric's advanced power conversion systems.
Both parties will cooperatively manufacture the vanadium flow battery upon achieving a jointly validated design and then commercialise the product through each sales channel.
The agreement sets out a detailed development program for the next-generation product that is expected to take around two years to reach commercialisation. Over this period, Gamesa Electric has agreed to fund an aggregate US$4.62m of Invinity's activities within the joint development program, payable as development milestones are met, Invinity reported.
Kodal Minerals (KOD) shares jump a further 29.2% to 0.307p as it gains over 80% in a week
Shares in the mineral exploration and development company have increased by over 80% in value since 4 May 2021 when the company informed investors of its plans to buy back £60m of its shares before the Group enters a closed period ahead of its full-year results.
Frasers, which is owned by retail entrepreneur Mike Ashley, unveiled the move despite warning investors that it is to suffer a £200m blow because of the COVID-19 pandemic.
In last week’s statement, Frasers, which reopened its estate on 12 April 2021 following the easing of lockdown restrictions in the UK for non-essential retailers, highlighted to investors that “the purpose of the programme is to reduce the share capital of the company.”
Revolution Bars Group (RBG) shares rose 14.06% to 36.5p after bars see strong recovery
Revolution Bars Group said it has seen “huge pent-up demand and a rapid recovery” since the business recommenced trading outside last month across 20 of its bar venues. The Group, which operates 66 premium bars under the Revolution and Revolucion de Cuba brands, said it was ‘excited’ to be able to recommence activity outside on 12 April 2021.
Since their opening, the group said its bars have traded extremely strongly, ‘fulfilling the desire for our customers to return despite the often unseasonably cold weather,’ it noted.
Revolution said these venues have delivered 48% of the sales in the four weeks to 9 May 2021 when compared to the same 2019 period when there were no COVID-19 restrictions.
The Company also informed investors that it now expects its full year performance for the year ending 30 June 2021 to come in ahead of previous management expectations.
Playtech (PTEC) shares fell 7.29% to 441.4p as caution remains over retail recovery
While shares in the gambling software firm have gained over 13% since mid-March, the stock remains below the highs reached in early March. The fall came after Playtech posted a €73m loss in its results for the year ended 31 December 2020 vs €55.9m profit in 2019.
In March, 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.
However, as a result of the lockdowns expected to remain in some 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."