PageGroup (PAGE) shares ticked up 3.48% to 595.25p as it raises annual guidance
In a 2Q21 trading update, the British-based recruitment business reported total gross profit at £219.7m, up by 94.1% from £118.4m in 2Q20. The Group attributed its trading improvements to ‘more favourable trading conditions’ as well as a reduction in fee earner headcount.
As a result of its performance in 2Q21, which saw the business recover to the pre-pandemic levels seen in FY19 to deliver record quarters in what the Group described as 4 of its 5 large, high-potential markets and in 17 countries overall, PageGroup raised its annual guidance.
Cora Gold (CORA) shares soared 34.38% to 10.75p on the back of positive drill results
The West African-focused gold firm released its sixth set of drill results from its largest ever drilling campaign at its Sanankoro Gold Project ('Sanankoro' or 'the Project') in Southern Mali.
It said it remains on target to drill up to 35,000m by end of the campaign, with a dual focus on targeting resource growth and infill drilling to convert existing inferred resources to indicated.
Addressing shareholders, Cora highlighted that the results to date have been ‘extremely encouraging with good widths and high-grade results in generally shallow oxides ore.’
Petro Matad (MATD) shares jumped 19.53% to 7.65p as it secures exploitation licence
The Mongolia-based oil exploration company said it has secured the Block XX exploitation licence after receiving approval from Mongolia's Minister of Mining and Heavy Industry.
The agreed exploitation area totals 218km2 and includes the entire extension into Block XX in Eastern Mongolia of the proven and producing Toson Uul Basin. The approved development plan will concentrate initially on the proven reserves area around Heron 1, expanding in phases to target the estimated 194 million barrels (MMbo) of total in place resource potential.
The Company, which is currently resuming discussions with potential farm-in partners , said it is now focused on preparing ‘for a very active programme in 2022 including the start-up of oil production from the Heron discovery using spare capacity in adjacent infrastructure.’
Novacyt (NCYT) shares rose 10.57% to 358.7p as it continues to expand its portfolio
In June, Novacyt described the full year ending 31 December 2020 as “a year of transformation” as the group saw revenue increase by over twenty times from 2020.
The clinical diagnostics specialist reported a more-than-twentyfold increase in consolidated revenue to £277.2m as the group’s gross margin rose to 76.3% in FY20 from 64% in FY19.
In addition, the Company stated that it had become debt free for the first time by the end of the FY20 period after repaying all long-term company debt of £7.1 million in 1H20.
Novacyt said it had experienced unprecedented sales demand for its COVID-19 products during 2020, which in turn transformed its financial position, resulting in the Company significantly exceeding its full year 2020 budget and surpassing any previous performance.
To date, Novacyt has launched over 28 new COVID-19 related products since the start of 2020 and has moved from one to three major molecular diagnostic product platforms. All three product platforms have proven to be successful and open different potential markets.
888 Holdings (888) shares fell 7.51% to 381.7p as it remains ‘mindful’ of future trading
In a post-close trading update for 2Q21, the leading online betting and gaming firm said it expects trading in the coming months to be affected by the end of Coronavirus (COVID-19) lockdowns as well as the impact of regulatory and compliance changes across markets.
Since 17 May, when UK retail and leisure venues reopened, the company’s average daily revenues in the country dropped 20% compared with the year-to-date period the year before.
While its second quarter of the year was slightly ahead of Board expectations, ‘reflecting continued momentum in the business, and favourable exchange rate movements’, 888 told investors that it will be mindful in its approach to the potential impact post COVID-19.