Mitie Group PLC (LSE:MTO) has raised its profit expectations after receiving a boost from COVID-19 related contracts.
The facilities management group said third quarter revenues rose by 51% to £1,008mln compared to the same time last year.
Revenue from contracts related to the pandemic, including testing centres, was greater than expected at £109m in the quarter, albeit a reduction of £40m from previous quarter.
So it now expects full year revenue and operating profit to be around £3.8bn-£3.9bn and £160mln-£165mln respectively (up from £145mln-£155mln).
Mitie shares are up 5.71% at 63p.
3.18pm: Eagle Eye Solutions Group climbs after positive update and new US contract
Eagle Eye Solutions Group PLC (AIM:EYE) has moved higher after a positive update and a new US customer.
The company, a software platform specialising in digital coupons and vouchers for retailers, said half year revenues had risen 40% to £15.1mln and earnings had jumped 50% to £3.1mln.
With continued strong trading, it now believes its full year results will be ahead of previous managment expectations.
It also announced the signed of a deal with its fourth US customer in the shape of [a lucky coincidence] Giant Eagle, a regional food, fuel and pharmacy retailer and one of the 40 largest family operated companies in the country.
Eagle Eye shares are up 4.35% or 25p to 600p.
2.06pm: RBG beats forecasts after strong demand for legal services
RBG Holdings PLC (AIM:RBGP), the legal and corporate finance group, is in demand after a forecast beating performance.
It said after a strong final quarter, full year earnings would be around 10% ahead of market expectations.
It intends to pay a second interim dividend of 3p a share for the six months to the end of December, bringing the total dividend paid to shareholders for 2021 to 5p a share, up from 3p.
Chief executive Nicola Foulston, said: "The group has continued its strong performance from the first six months, and has followed an excellent 2020, with an even better 2021 result. Demand for legal services remains strong, led by corporate and commercial transactions, such as IPOs and real estate deals.
"The integration of Memery Crystal [one of the leading legal practices in the UK advising on the emerging cannabis sector] has been successful with only the roll-out of new practice management software to be completed. Both Rosenblatt and Memery Crystal are working well together. Our client offering and margin profile are moving in the right direction.
"Given the progress of the group, and the structural growth drivers we are exposed to, we enter 2022 with confidence."
RBG is 12.16% or 13.5p better at 124.5p.
12.01pm: Biome Technologies sees shares climb despite fall in revenues
Biome Technologies PLC (AIM:BIOM) has seen its shares rise after reassuring investors on its full year performance.
The company, a bioplastics and radio frequency technology business, said revenues of £5.6mln, down marginally from £5.7mln in 2020, were in line with expectations, as was an overall loss for the year.
Cash balances of £1mln at the year end were down from £1.7mln a year ago, but ahead of forecasts because of receipts of deposits from customers and improved working capital management.
A fall in revenues at its bioplastics division reflected the current global logistics issues and a delay in customers implementing new projects.
Sales picked up in the fourth quarter, but in the current year they are expected to be weighted more to the second half.
The radio frequency business saw revenues edge up from £0.8mln to £0.9mn, and it expects strong trading from the division in the first half of 2022 after a range of new orders.
Overall, the company said: "The group ended 2021 with a lower level of revenues than was expected when the year started. However, the directors are pleased with the improved cash position of the group which they currently believe should enable Biome to capitalise on the orderbook and pipeline in both divisions.
"The scale of opportunities available to Biome is now greater than it was at this time last year and the board remains confident of being able to build on the group's prospects during 2022 and thereafter."
The positive outlook has helped lift its shares by 5.45% to 290p.
10.51am: Cambridge Cognition moves into profit as it benefits from virtual clinical trials
Cambridge Cognition Holdings PLC (AIM:COG) has climbed sharply as it turned in a profit and benefited from a move to virtual clinical trials.
The company, which develops and markets digital solutions to assess brain health, said full year revenues grew by 50% to £10.1mln.
It made a better than expected profit of £0.5mln, compared to a £0.4mln loss in 2020.
Order intake for the year closed at £15.7mln, up 25% on the previous year's order intake of £12.7mln.
It said: "The pandemic has provided a catalyst for the growth in adoption of virtual clinical trials as pharmaceutical companies shift to measuring patients at home more, which has been of benefit to the company, but this has been offset to a certain extent by some delays to trials, mostly due to more cautious, slower patient recruitment. These trends are expected to continue in 2022.
"The underlying market for the measurement of electronic outcomes in clinical trials was reported to be growing at 17% in 2021. The company results were ahead of this underlying market growth. The 2021 performance provides a strong platform for further growth as the company continues to develop and commercialise its innovative digital assessments, primarily for clinical trials."
Its shares are up 19.2% or 21.5p to 133.5p.
9.56am: IDE Group (AIM:IDE) boosted by update and acquisition hopes
IDE Group (AIM:IDE) has jumped by more than a quarter after an upbeat trading statement and a plan to restructure its remaining debt, paving the way for possible acquisitions.
The mid-market network, technology outsource partner said full year revenues from continuing businesses grew by 20% compared to 2020 to at least £14mln, with earnings of not less than £2.5mln.
As part of a restructuring it sold its IDE Group (AIM:IDE) Connect and Nimoveri businesses to CloudCoCo Group in October for a deferred consideration of £250,000.
It said the new year had started well, with several new contracts already won and due to be implemented. It expects double digit revenue growth in 2022, of which 85% is from existing contracted customers.
Non executive chairman Andy Parker said "Last year's results are the result of three hard years' work by all of the team at IDE. The company is well placed to build upon the 2021 results.
"The board are exploring resolutions for the shareholder loan notes (the only debt the business has), which would be the final stage of the restructuring, and which would allow the company to grow organically and possibly through acquisition should the right accretive opportunities become available".
Its shares are up 27.08% at 1.53p.
8.46am: Air Partner (LSE:AIR)'s shares take off after it agrees US bid
Air Partner (LSE:AIR) is flying high after the aviation services group agreed an £84.8mln takeover.
The 60 year old firm is being bought by US private aviation business Wheels Up for 125p a share in cash, and has so far received irrevocable undertakings from investors representing 27.52% of the shares.
Air Partner (LSE:AIR) chief executive Mark Briffa said: "This proposed acquisition has a compelling strategic rationale, bringing together two businesses with complementary offerings and values for the benefit of their customers
"I am extremely proud of Air Partner (LSE:AIR); we have built a fantastic team and a highly attractive business and Wheels Up's offer is a clear acknowledgment of this.
"The Air Partner (LSE:AIR) board believes that a combination with Wheels Up would give our customers, colleagues and stakeholders the additional resources of one of the largest private aviation companies in the world, enabling us to significantly enhance our technology, customer offer, and international aircraft supply."
Earlier this month the company said its full year profits would be materially ahead of expectations.
News of the takeover has seen its shares soar 52.05% to 123.16p.
Also heading higher is Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR).
The company said it had identified several lithium exploration targets at its Ragged Range Project in Western Australia.
Nicole Galloway Warland, managing director of Thor Mining, said: "Thor's recent geological review of the Ragged Range project... has identified exciting lithium-caesium-tantalum targets associated with the highly prospective Split Rock Supersuite. These new targets will be advanced as soon as possible and have the potential for significant exploration discoveries, while we continue drill testing further gold exploration targets at the Sterling Prospect."
Thor shares are up 15.79% at 0.55p.