Spirent Communications (LSE:SPT) PLC saw its shares rise by 9% to 247p following the release of positive full-year results.
Revenue grew by 10% to US$576mln, with adjusted profit before tax also up 14% to US$117.9mln.
The company believes it is “well-set” to deliver sustainable growth in 2022 and beyond.
3.00pm: PipeHawk confirms its subsidiary's contract
PipeHawk PLC (AIM:PIP) was up 9.8% to 28.8p after providing an update to investors regarding its contract win with Ventive Limited, which was originally announced in December.
The electronic systems development company said its subsidiary, QM Systems has signed a contract with Ventive for the second phase of the project to manufacture a 'green energy' product to provide domestic heating and hot water.
Production of the "Ventive Home" System is anticipated to begin in June 2022 and is expected to deliver revenues of roughly £7.5mln in the twelve months to 30 June 2023.
2.00pm: Parsley Box Group announces fundraiser
Parsley Box Group PLC (AIM:MEAL) rocketed 21% to 21.8p after announcing a proposed fundraiser.
The direct-to-consumer provider of ready meals hopes to raise £5.9mln, with directors and associates that intend to participate contributing £4.2mln, with shares priced at 20p each.
It said it will use the proceeds raised to target new customer acquisition, develop its product range, build an “online customer journey tailored to its demographic” and “develop a member program to start a customer community.”
1.00pm: finnCap forecasts record revenue
finnCap Group PLC climbed 9% to 28p after announcing that its unaudited revenue for the year to date will exceed the previously set guidance range, delivering record revenue.
The provider of strategic advisory and capital raising services said it expects revenue to be ahead of its previously set range of £45mln-£50mln.
Chief executive Sam Smith said, “we have seen the real benefits of diversifying our products and customer base with a particularly good performance in ECM in complex markets and another strong half-year in M&A."
12.00pm: James Fisher and Sons experiences a tough 2021
James Fisher & Sons PLC (LSE:FSJ) fell 22% to 338.5p following the release of its full-year results, which saw revenue and profits take a hit.
Revenue fell by 4.7% to £494.1mln, while profit before tax took a huge hit, dropping from £31.5mln to £19.7mln, almost 40%.
The marine engineering services company said lockdowns affected the first half of 2021, causing project delays that spilled into the second half.
Chief executive, Eoghan O’Lionaird did say that performance in the first two months of 2022 was in line with management’s expectations.
11.00am: Boohoo performance matches expectation
Boohoo Group PLC (AIM:BOO) climbed 15% to 90p after it said it expects to report profits in line with guidance and market expectations for the year to end-February 2022.
It said it experienced a strong trading performance in the UK and a return to growth in the rest of the world (ROW) in the final quarter.
The online fashion retailer forecasted full-year adjusted EBITDA of £125mln, with net sales growing 14% compared to 2020.
10.00am: Evraz falls as majority shareholder Abramovich sanctioned
Evraz PLC (LSE:EVR) (Evraz PLC (LSE:EVR)) fell 11% to 82p as Roman Abramovich is hit with sanctions by the UK government.
Abramovich is a majority shareholder in the steel and mining company, with a roughly 28% stake.
All his assets have been frozen, including Chelsea FC, with the prospective sale of the West London club put on hold.
The Chelsea owner is one of seven Russian oligarchs to be sanctioned this morning.
08:46am: Amala Foods closer to completing the old switcheroo into rare earths
Amala Foods PLC (LSE:DISH) jumped 18% to 0.65p after it revealed more details about the “rare earth elements market opportunity” it hinted at last month.
"Since the previous announcement on 2 March 2022 there have been further expressions of interest to provide finance to bring this transaction to a successful conclusion. I am pleased with the progress being made on this potential transaction that if successful will result in a complete transformation for the company,” said Aidan Bishop, a director of Amala Foods, the company formerly known as BigDish.
As complete transformations go, switching from developing food technology to investing in rare earth projects is right up there unless dining trends have changed a lot more during the lockdowns than I realised.
Hill & Smith Holdings PLC (LSE:HILS) was 11% higher at 1,434p after the infrastructure and safe transport specialist reported a sharp increase in profits.
Underlying profit before tax in 2021 rose 28% to £79.9mln from £62.6mln in 2020, while reported profit before tax soared 43% to £50.9mln from £35.5mln.
The operating margin improved significantly to 8.1% from 6.5% the year before.