Severfield plc (LSE:SFR) is in demand after a positive trading update.
The structural steel group said after a strong second half, it expected the full year result to be in line with management forecasts.
It achieved a record UK and Europe order book of £479mln by the year end, up from £393mln in November, of which £382m is for delivery over the next 12 months.
It said it was encouraged by the current level of tendering activity, and was well placed to take advantage of some significant opportunities in the industrial and distribution (battery plants and distribution centres), stadia and leisure, transport infrastructure, nuclear and data centre sectors.
Despite seeing further input cost inflation (including in steel prices) and some disruption to raw material supplies as a result of Russia's invasion of Ukraine, it said it was currently managing these effectively, and steel remains largely a pass-through cost for the Group.
Its shares have climbed 8.58% to 69.6p.
2.50pm: Oxford Biomedica drops after pause in AstraZeneca vaccine manufacturing
Oxford BioMedica PLC (AIM:OXB) has seen its performance boosted by its manufacturing of the Oxford AstraZeneca COVID-19 vaccine, but its shares have dropped sharply as it warned this would not continue.
Full year revenues rose 63% to £142.8mln, and it turned an operating loss of £5.7mln into a £20.8mln profit.
Cumulative revenues from AstraZeneca by the end of 2021 were in excess of £100mln, the company said.
But it added: "Currently, total revenues in 2022 are expected to be lower than in 2021 (but significantly ahead of 2020) due to a pause in vaccine manufacturing activity while discussions with AstraZeneca continue on a potential extension of the supply agreement."
The news has seen its shares fall 19.09% to 517p.
12.27pm: Coal miner Bisichi back in the black
South African coal miner Bisichi Mining PLC (AIM:BISI) has been fired up by returning to profit.
A strong second half performance as coal demand picked up from pandemic lows meant the company has moved from a full year loss of £2.4mln to a profit of £5.8mln.
It has decided to pay a 4p dividend plus a special 2p a share payout.
Chairman Sir Michael Heller said: "The increase in group earnings and cash generation in the second half of the year can be attributed to a strong performance from our South African mining and processing operations. This performance allows us to restore the dividend.”
Its shares have climbed 15.89% to 220.2p.
11.18am: Motorpoint motors ahead after strengthening finances
Car dealer Motorpoint Group PLC (LSE:MOTR, OTC:MTPTF) has seen its shares accelerate after strengthening its finances.
It has completed a sale and leaseback on its freehold branch in Stockton on Tees, bringing in cash proceeds of £5mln.
It has agreed a 25-year lease on the site at an initial rent of £350,000 a year.
There was no loss or gain for the group, but the funds will beef up its balance sheet.
It has also reached an agreement with its lenders to increase its available stocking facility by £30mln to a total of £195mln providing flexibility for buying vehicles.
Chief executive Mark Carpenter said: "Both transactions provide further firepower for us to invest in future growth strategies across multiple initiatives in line with our strategy."
Motorpoint is up 5.38% at 264.5p.
9.51am: Volex powers ahead with results expected to beat forecasts
Shares in Volex PLC (AIM:VLX) have powered ahead after the company said full year results were likely to beat market forecasts, helped by a strong performance from the electric vehicles sector.
The supplier of integrated manufacturing services and power products said revenues were expected to rise from US$443mln to more than US$605mln.
It said underlying operating profit was set to climb from US$42.9mln to more thatn US$55mln.
The market was expecting revenues to be between US$575mln and US$586.3mln, with a consensus of US$581.2mln, and profits to be in the range of US$53.8mln to US$54.6mln, with a consensus of US$54.2mln.
Revenues from electric vehicles, an area which is seeing strong growth at the moment, more than doubled.
Nat Rothschild, executive chairman said, "We have delivered an excellent performance in a challenging environment and are now well ahead of the five year plan we set out in October 2019....We continue to pursue a number of exciting organic growth opportunities, while successfully acquiring and integrating compelling acquisitions, leaving us well placed for the future."
Volex is up 12.96% or 32p to 279p.
8.54am: Itaconix sees its shares grow after positive trading update
Itaconix PLC (LSE:ITX, OTCQB:ITXXF) is in demand after a positive trading update.
The company, which specialises in plant-based polymers used as essential ingredients in everyday consumer products, said trading for the first three months of the year was well ahead of the same period in 2021.
The performance so far underpinned expectations for the full year.
Its cleaning business led the way, with increased orders for uses in dishwashing detergents.
Elsewhere it recently filed a patent for new plant-based technology which it plans to develop into a new ingredient for preventing or repairing damaged hair.
It added that it continued to maintain sufficient raw material supplies and production capacity to meet customer needs.
Its shares are up 12.27% to 5.55p.
Also heading higher is Coral Products PLC (AIM:CRU).
The plastic products specialist said sales and profits for the year would be materially above market expectations, helped by the disposal of land and building at Haydock.
The update has lifted its shares by 12.5% to 15.75p.