Clarkson PLC (LSE:CKN) shares were buoyed by an upbeat trading update from the shipping services provider.
The shares rose 4.8% to 4,005p after the company said trading during the month of December was stronger than anticipated and underlying profit before tax for 2021, subject to audit, is now expected to be not less than £69mln.
Areas that outperformed expectations in December included the Broking division, where the Sale and Purchase team completed a number of asset transactions and the Financial division, where the Project Finance and Securities teams completed a number of financing transactions.
11.15am: Argo Blockchain heads higher after productive month for Bitcoin mining
Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) shares are among the highest risers in London on Friday, up 4.6% to 85.83p and heading for a 7% rise on the Nasdaq based on pre-market trading, after saying it generated a higher level of bitcoin last month and is making progress with construction of its new mining facility in Texas.
The crypto miner said it was rewarded with 214 bitcoin or bitcoin equivalent (BTC) in December, up from 185 BTC the month before, making for a total of 2,045 BTC for the whole of 2021.
What's more, Argo said construction of its 200-megawatt mining facility in Dickens County, Texas, has so far included a main structure, outside façade and roof, with completion expected in the first half of 2022.
10.07am: Cider maker slips
C&C Group PLC (LSE:CCR), the cider seller, saw its shares slip back 2.9% to 229.67p after Christmas trading disappointed the market.
In December, trading conditions for its on-trade (i.e. pubs, bars, restaurants & clubs) business were significantly affected by renewed government restrictions across the UK and Ireland.
In December, C&C traded directly with 81% of the on-trade outlets it traded with a year earlier, delivering 64% of the volume against an expectation of 90%. While December’s performance was consequently behind expectation, the group did at least generate a modest profit for the month.
9.05am: SDI buys razor blade coatings firm
SDI Group PLC (AIM:SDI) hardened 5.5% to 211p after it announced the acquisition of a UK manufacturer of physical vapour deposition equipment.
The technology products firm paid roughly £4.9mln for Scientific Vacuum Systems (SVS), said to be a market leader in the manufacture of production sputter coaters for premium brand razor blade coating.
SVS is expected to make earnings before interest and tax of £700,000 or so in the year to the end of September 2021 on revenues of about £2.5mln.
A trading update from Air Partner (LSE:AIR) PLC lifted the hard-pressed private aircraft chartering firm 4.7% to 90p.
The company said as a result of continued strong customer demand throughout December, the board now expects that underlying profit before tax for the 12 months to 31 January 2022 will be materially ahead of current market expectations.
December's performance has again been driven by high levels of freight bookings, notably for the continued transportation of vaccines, the company revealed.