Crest Nicholson (CRST) shares ticked up 5.65% to 395.9p as it upgrades guidance
In a trading update, the company informed investors that the business continues to deliver a good trading performance in FY21 with strong progress across ‘all five strategic priorities.’
It said the UK housing market has remained resilient to the impacts of COVID-19 and is set to benefit from the measures recently outlined in the Budget, including the extension of the Stamp Duty holiday and the introduction of Government-backed 95% mortgages.
As a result, the company has raised its profit expectations for FY21. It now expects FY21 Adjusted Profit Before Tax to be around £85 million, and ahead of current consensus. The Group expects to announce its results for the six months ending 30 April 2021 in June.
Oxford BioDynamics (OBD) shares soared 54.86% to 108.5p as it launches COVID-19 severity test
The personalised healthcare-focused biotechnology firm has launched its EpiSwitch® COVID-19 Severity Test (CST), in line with its previously announced expanded strategy.
The test, which was developed using the group’s EpiSwitch® 3D genomics platform EpiSwitch®, uses specific 3D genomic biomarkers to assess immune health and therefore can predict the likely severity of an individual's COVID-19 response ahead of infection.
The test is based on the findings of OBD’s genome-wide study of Covid-positive patients, which identified key 3D genomic biomarkers that determine severity of Covid response.
The test was shown to be robust for predicting critical (ICU) illness due to COVID-19, with high accuracy (92%), sensitivity (96%), specificity (86%), PPV (92%) and NPV (93%).
GETECH (GTC) shares rose 22.79% to 26.4p after mapping out fundraising plans
Shares in the geoscience and geospatial products firm have more than doubled since the beginning of the year. Last week, the Leeds-based group told investors that it had raised up to £6m to support growth in areas "important to the delivery of a global energy transition".
The company said it was also launching an open offer to raise up to around £0.25 million. Meanwhile, Getech noted that it has also exercised its option to acquire the entire issued share capital of H2 Green, an acquisition which is conditional on shareholders' approval.
Commenting at the time of the raise, Jonathan Copus, CEO of Getech Group said “These growth opportunities, with particular focus on the hydrogen, mining and geothermal sectors, reflect the changing shape of the global primary energy mix. This Energy Transition is occurring at an accelerated pace, which places Getech's customers in a new commercial landscape - one that is underlain by a web of complex location-based decision making.”
Biome Technologies (BIOM) shares rose 22.64% to 325p following contract win
The company said it has secured a contractual commitment with a second US end-customer to accelerate the commercialisation of its proprietary compostable filtration material.
The group described the unnamed customer as ‘important’ and said its business would support a significant portion of the Group's expected revenue growth in 2021 and beyond.
Biome Technologies, which is a leading developer of highly functional, naturally based plastics, previously identified this project as ‘the most important growth driver for 2021.’
Today, the group said the end-customer has now ordered further equipment, with a value US$70k that will help to unlock the use of Biome's compostable filtration material on a significant portion of the customer's installed capacity. The company anticipates that this will lead to significant additional revenues for the Group’s Bioplastics division during 2021.
Tullow Oil (TLW) shares fell 8.00% to 49.1p despite meeting 2020 expectations
Shares in the independent oil and gas exploration and production company have dipped after the group released its final year results for the year ended 31 December 2020 in which it reported a US$1.22 billion loss for the period, compared with a loss of $1.69 billion in 2019.
Tullow’s production came in line with expectations at 74,900 barrels of oil per day, generating some US$1.39bn of revenue. The group reported gross profit for the period at US$403m.
Despite today’s dip, the group said it is executing “a robust, cash generative business plan” which is focused on its most productive assets. It said it has “transformed its cost base, implemented rigorous capital discipline and are well placed to benefit from higher oil prices.”
In particular, the group cited the recent rise in crude oil prices. It stated that every $10/bbl increase in the price delivers c.$100m incremental pre-financing cash flow up to $75/bbl.