Grafton Group (GFTU) shares ticked up 11.49% to 1,213.5p with positive start to year
The DIY retailer released an update for the period from 1 January 2021 to 18 April 2021 in which it stated that revenue growth for the period is ahead of expectations in March and April while adjusted operating profit for year expected has also exceeded current consensus by c.15 to 20% due to forecast outperformance in the first half and higher property profit.
Despite the partial lockdown of the construction sector in Ireland, the overall Group had ‘a good start’ to the year with revenue growth gaining good momentum in March and April.
The Group expects profit to come in at around 20% ahead of its consensus forecasts of £206m for 2021 as a result of the stronger than anticipated growth in revenue in March and April. Grafton said this is ‘an improved first half outlook’ for the overall Group as it moves into the seasonally important trading months of May and June and higher property profit.
Alba Mineral Resources (ALBA) shares jump 18.18% to 0.325p as test work confirms suitability of Amitsoq graphite for Lithium-Ion Batteries
The Group told investors this morning that test work on graphite from the Amitsoq graphite project has confirmed the suitability of the graphite for Lithium-Ion Batteries ("LIBs").
The results of a previous round of test work conducted at Pro Graphite in Germany confirmed that the graphite content of Amitsoq ore is amongst the highest found in flake graphite deposits globally and that it is possible to produce a >96% graphite concentrate.
The test work also confirmed that Amitsoq graphite appeared to be suitable feed material for Lithium-Ion Batteries ("LIBs"), the fastest growing market for flake graphite global.
Mulberry Group (MUL) shares rose 17.56% to 286p as it upgrades FY21 forecast
Shares in Mulberry Group soared by nearly 30% on Wednesday morning as the Group said it expects to outperform expectations in a trading update for the year ended 27 March 2021.
The luxury brand, which is known internationally for its leather goods, previously stated in its results for the 26 weeks to 26 September 2020 that revenue for FY21 was expected to be lower than in the year ended 28 March 2020, but that it expected losses to be reduced.
However, the Group highlighted to investors in this morning’s statement that the business has seen continued strong growth across the Group’s Asian markets, strong sales across its global digital platforms as well as improved margins due to lower mark-down sales.
In fact, digital sales increased 68% to £23.4m, compared with £13.9m the previous year.
As a result of this growth, the Board said it now expects that the Company will outperform expectations and report a small underlying profit before tax for FY21. Looking ahead, the Group's preliminary results for FY21 are expected to be announced on 22 July 2021.
Good Energy Group (GOOD) shares were up 14.57% to 263.5p as UK prepares to ‘build back greener’
Shares in the 100% renewable electricity supplier have increased by nearly 10% in the past two weeks and in its recently posted full-year results which it released earlier this month, the Company told investors that it is well-placed to to help its customers achieve net-zero.
The Group hailed “good progress” made with its strategy to invest in the development of energy service propositions, innovation projects, its people and processes and technology.
"The economy is now opening up, consumer and business confidence is returning with an appetite to 'build back greener,’” Juliet Davenport, Founder and CEO informed investors.
Despite the continued impact of COVID-19, the Company highlighted that the desire for a green recovery and to build back better ‘continues to gather momentum’ with tangible investments already having been made in schemes committed to low carbon homes, low carbon transport infrastructure and investments dedicated to support green innovation.
‘With the Green recovery at the forefront of climate conscious Brits, pressure from Ed Miliband to bring the Green recovery forward to align and prove it at COP26 in November 2021 and pressure on the UK to match Joe Biden's clean energy goals to 2035, building back better could be a fantastic opportunity,’ the Company highlighted to investors in its results.
Travis Perkins (TPK) shares fell 11.80% to 1,420p as shareholders approve Wickes demerger
Shares in the Group, which operates as a builders' merchant and home improvement retailer, were down after it announced that the demerger of Wickes Group, which the firm announced back in December 2018, has now been completed with shareholder approval.
In response, David Wood, Chief Executive Officer of Wickes, said: "Today marks a transformational moment for Wickes as we begin our journey as a standalone business.”
He added that, “We are well positioned to capitalise on the exciting growth opportunities we see in our markets while creating long-term value for all our stakeholders.”