Dunelm Group (DNLM) shares ticked up 6.66% to 1,346p
The UK-based homewares retailer has reinstated dividend payments after gaining market share in the ‘growing’ homewares market during the 26 week period to 26 December 2020.
The group noted how the pandemic has accelerated the pace of change in consumer habits. ‘These macro trends, coupled with the strategic levers we identified in our Customer 1st plan, mean we are becoming increasingly more relevant for more consumers,’ it noted.
This was reflected by a strong performance, with sales rising 23%, despite the impact of store closures in the second quarter. In addition, Dunelm said it has witnessed continued market share growth, with sales growth ‘significantly ahead of the homewares market.’
The group’s analysis which it highlighted was based on external data showed that the homewares market grew by 9.7% in the first half of the financial year, reflecting strong consumer demand. For comparable categories, its growth for the period was 21.0%.
‘During the weeks when our store estate was fully open, we significantly outperformed the market, but we performed below the market in weeks impacted by store closures, as other retailers selling homewares were classified as 'essential' and remained open,’ it reported.
Despite stores remaining closed for now, the Board has declared an interim dividend of 12p per share, citing ‘a strong performance’ and ‘confidence in the medium-term outlook’.
SDI Group (SDI) shares rose 25.31% to 151p as the group raises guidance
The company told investors this morning that it is expecting to exceed the market's sales and profit expectations for the year ending 30 April 2021 as well as ‘substantially’ exceed the market's sales and profit expectations for the year ending 30 April 2022.
While most of SDI saw some revenues negatively impacted by the pandemic, two of its businesses secured significant one-time equipment contracts for equipment relating respectively to treating and testing COVID-19 and similar respiratory and viral diseases.
Its Atik Cameras business unit secured follow-on camera orders from an OEM manufacturer with delivery centred on the year to 30 April 2022. The Group added that its forecasts were also underpinned by the continued recovery of activity across all of its businesses.
“These are exceptional prospective outcomes in unprecedented times, during which the staff across SDI have executed on all aspects of our buy-and-build business model,” it noted.
Nostra Terra Oil & Gas Company (NTOG) shares jump 20.83% to 0.725p after establishing a ‘robust position’
Shares in the oil & gas exploration and production group have risen by over 70% since the beginning of November 2020. In recent weeks, the Company announced that it had established itself in a ‘robust’ position after becoming cash flow positive in December 2020.
‘The Company's cash flow positivity is now a robust position, not simply dependent on the short-term oil price spike, but being first achieved in December where the spot price for oil (West Texas Intermediate, "WTI") was $45,’ the Company wrote in a recent statement.
In January 2021, Nostra Terra announced the success of its new well at Pine Mills, which has added a further net 32.5 barrels of oil per day (bopd), before royalties, an increase of approximately 26% in production net to the Company compared to December's figures.
January had also proven to be stronger than December with oil prices having increased further and the new well now in production with its oil sales having already commenced.
‘As the macro-economic environment continues to rebuild and strengthen, Nostra Terra will seek to continue to grow cash flow, production and reserves through a combination of developing its existing assets and also expanding its portfolio,’ the Group told investors.
Directa Plus (DCTA) shares 18.35% to 129p after new research validates the properties of G+® products
The producer and supplier of graphene nanoplatelets based products told investors this morning that the properties of its G+® products have been validated by academic research undertaken by scientists at the Polytechnic of Turin, Italy's oldest technical university.
The research showed that the use of water-based G+ graphene ink to coat polymeric foam confers significant flame-retardant properties versus untreated polymeric foam.
It highlighted that a simple application of G+ ink to the external faces of the foam provided good flame-retardant properties, tested in both horizontal and vertical conditions.
Polymeric foams have many applications, from roof insulation to furniture, and are extremely flammable meaning the potential market for G+ fire retardant technology is ‘sizable’, it noted.
"As always at Directa, we have a clear vision of bringing technology out of the lab into real world, commercial use, and this paper could represent another very important step to open a new future industrial vertical,” stated Giulio Cesareo, Founder and CEO of Directa Plus.
Lancashire Holdings (LRE) shares fell 5.17% to 706.5p as profits slide
Shares in the Bermuda-based insurance company fell after reporting net losses of $149.5 million for the year ended 31 December 2020 as a result of COVID-19 related losses and natural catastrophe, including hurricanes Laura and Sally and the wildfires in California.
The group also witnessed windstorm losses in the second half of the year and ‘an unusually high level of frequency’ in non-natural catastrophe specialty losses throughout the year.
Underwriting profits for the year fell from $186.5m in 2019 to $77m while pre-tax profits came to $5.9m, down from the $119.5m reported in the year ended 31 December 2019.
‘We are beginning to take advantage of the improving market conditions and there was evidence of further strengthening over the January renewal season,’ it told investors.
At period-end, LRE’s total capital available to LRE was $1.866bn, comprising shareholders' equity of $1.539bn and $327.5m of long-term debt. Tangible capital was $1.712bn.