Norish plc (AIM:NSH), an operator of temperature-controlled warehouses, saw its shares lifted 3.2% to 160p in late afternoon trading after the group reported a massive upsurge in profits in its first half.
For the six months to June 30, the group reported a pre-tax profit of £1.35mln, a 73% increase on the prior year, while sales jumped 19% to £18.9mln.
The firm also said it was optimistic about its growth outlook for the rest of the year, highlighting that the occupancy rates across the group were at 85%, 9% higher than the same time last year.
Also on the rise was Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2), which bounced 4.1% higher to 1,790p after it boosted production from its gold mines in West Africa in the second quarter by 18% to 409,000 ounces of gold, while all-in sustaining costs decreased by US$15 per ounce to US$853 per ounce.
The increase mean the company is well positioned to come in at the top half of its full-year production guidance of between 1.365mln ounces and 1.495mln ounces at costs of between US$850 and US$900 per ounce.
1.00pm: CyanConnode rises after securing African smart meter contract
CyanConnode Holdings PLC (AIM:CYAN) shares jumped 4.8% to 11.5p in lunchtime trading after the smart mesh network specialist revealed that it has clinched a deal for smart metering deployment in Africa.
The group said it will supply 100,000 Omnimesh Modules with Advanced Metering Infrastructure, Services, Omnimesh Head-End Software, Perpetual License and an Annual Maintenance Contract as part of the deal.
Supply of the modules is expected to begin during the third quarter of 2021, with all modules being supplied within eighteen months. The company added that around 90% of revenues from the contract will be recognised in the first two years of the contract.
Elsewhere, brick maker Ibstock PLC (LSE:IBST) climbed 3.2% to 228p as the firm swung back into profit in the first six months of the year and revenue came in just 1% below 2019’s pre-Coronavirus level.
The group said market fundamentals remain sound, underpinned by robust UK housing demand and good mortgage availability, and noted strong demand from repairs, maintenance and improvement (RMI) markets with UK consumers continuing to prioritise spending on the home.
11.00am: Arkle Resources shines as gold grades confirmed at Mine River project
Arkle Resources PLC (AIM:ARK) shares were a bright spot in late-morning trading, jumping 5.9% to 0.9p after the group said further results from drilling at its Mine River project in Ireland had confirmed previously reported gold grades at the site.
The group also said that samples from the sixth hole of the drilling programme have been sent for analysis and drilling has now commenced on the seventh hole.
Also on the rise in the miners was Alien Metals Ltd (LSE:UFO), which rose 15.6% to 0.9p as it said its inaugural drilling programme on the Elizabeth Hill silver project, situated in the resource-rich Pilbara region of Australia, is due to start in coming days.
Alien said it has mobilised a diamond drill rig and plans to drill seven holes to test for extensions to the known mineralisation both along strike and at depth and to complete initial verification work on historical drilling carried out over 20 years ago.
Meanwhile, construction firm Morgan Sindall Group PLC (LSE:MGNS) was on the way down, dropping 3.1% to 2,364p, after its first half results fell short of expectations despite recording a near quadrupling of reported pre-tax profits to £52.4mln from £13.6mln a year ago.
The firm also hiked its interim dividend to 30p from last year’s 21p.
8.50am: MyCelx Technologies (AIM:MYXR) surges as it inks new contract
MyCelx Technologies (AIM:MYXR) Corp was a key riser in early trading, surging 14.5% to 43.5p after the clean water and air technology group said it has signed a “significant new contract” for its services.
The group also said it has inked an extension to an existing contract where its technology has been installed for 10 years.
The combined value of both deals totals around US$2.1mln.
Meanwhile, THG PLC (LSE:THG) was up 3.4% at 599p after it unveiled plans to acquire online retailer Cult Beauty Limited for £275mln.
The Hut Group is looking to expand its reach in the emerging and independent brands realm, as Cult’s 300-strong portfolio, including Charlotte Tilbury, Drunk Elephant and Huda Beauty, is mostly made up of brands not sold on existing THG Beauty sites.
Cult Beauty is expected to contribute sales of £60mln and adjusted underlying earnings (EBITDA) of £3mln for the remainder of the current financial year, rising to £140mln and £10mln respectively in 2022.
88 Energy Ltd (AIM:88E, ASX:88E) was also on the rise, jumping 14.7% to 2.8p as it was granted a two-year extension for its obligations at the Umiat oil field, to August 2023, as it continues to advance its understanding of the acreage.
It intends to continue analysis of extensive historic data along with the findings of the Merlin-1 well data from the adjacent Project Peregrine permit.
The company said it expects to optimise development plans for Umiat during the extension period, including synergies with Project Peregrine, and maximise its chance of success at Umiat.