Fevertree Drinks PLC shares soar after surge in over-the-counter sales during lockout

PLC () was munching on a rise in its shares after announcing strong sales for its chic blenders to home drinkers during the lockdown.

And while he expected the reopening of pubs and restaurants to give new impetus to his business, he felt that “home consumption of long mixed drinks is increasingly established, supported both by spirits retailers and companies ”.

Non-trade sales to the UK in the 13 weeks to mid-April grew 10.1% year-on-year, while sales to the US jumped 38.2% year-on-year. during the 12 weeks preceding the end of March.

Overall, he said his exchanges were in line with his expectations for the entire year, provided uncertainty over the pandemic continues to fade.

Sophie Lund-Yates, equity analyst at Hargreaves Lansdown, said: “Fevertree has no choice but to take the global recovery by socializing one step at a time. The situation is much the same as before – sales in supermarkets are doing well, but on-site trading is, as expected, difficult. This is particularly true in Europe, where only around a third of UK sites are open and at reduced capacity. With around half of UK income coming from bars and restaurants, Fevertree is stuck in limbo until the taps are turned back on.

“The group appears to think the pandemic has sparked a longer-term shift in home consumption of its high-end blenders. Given the difficult task ahead of us to keep sales at the dizzying pace expected by the market, this Would definitely be a bonus, but it remains to be seen if this turns out to be true, but we suspect that this tailwind may blow a little more gently than expected when the reality of normal life returns.

Still, investors are ignoring these concerns and have pushed its shares 6.82% or 175p higher to 2741p.

3.30 p.m .: Technological group in demand

() is heading higher after the semiconductor wafer supplier launched a new product for high-speed communication.

The company launched its Surface Emitting Vertical Cavity Laser (VCSEL) epiwafers; VCSEL is the key component for high speed communication and advanced sensing applications.

Dr Rodney Pelzel, IQE’s Director of IQE Technology, said: “In order to enable our customers to respond to the opportunities offered by VCSEL technology, IQE has evolved and expanded its VCSEL portfolio … These solutions are a product value-added and part of a larger portfolio enabling applications such as 3D sensing, advanced healthcare and LiDAR [Light Detection and Ranging]. “

Its shares added 7.61% or 3.7p to 52.3p.

1:58 p.m.: Polymer activity is reinforced by green references

Green is good for Itaconix PLC ().

The sustainable polymers sector saw its shares climb 17.94% to 13.15 pence after receiving the Green Economy Mark from the London Stock Exchange.

Itaconix generated 96% of its 2020 revenue from the sale of herbal products. To qualify for the brand, first introduced in 2019, companies must derive more than 50% of their revenue from products and services that contribute to the global green economy.

Itaconix CEO John R. Shaw said, “We are just starting to harness the potential that our proprietary, plant-based technologies have to transition brands and consumers to a low-carbon economy, almost all of our 2020 income comes from plants. some products.

“The London Stock Exchange’s Green Economy Mark is an important recognition for our current work and will support our efforts to communicate our green credentials to investors and other stakeholders.

“It is a true honor and achievement for Itaconix to be recognized as one of the brand’s early leaders in the advanced materials industry.”

11.58 am: The piping specialist sees a good start to the year

Genuit Group PLC (LON: GEN) is on the move after a positive update.

The piping and ventilation specialist – formerly known as – said he had made a good start to the year and now expects full-year profits to be at the top from the range of £ 80 million to £ 88million expected by analysts.

Three acquisitions were made in February this year and are doing well

Its residential activity benefited from forward purchases by traders before price hikes, while new housing starts also boosted income. Supply issues are a problem and his costs have increased as a result, but he has managed to pass it on by raising his own prices.

Managing Director Martin Payne said: “The group has achieved a positive performance so far this year, while finalizing the acquisitions of Adey, NuHeat and Plura.

“The strength of business conditions and the strength of the structural growth markets in which we operate lead the board to expect these improved trends to continue through the remainder of the first half of this year.

“There remains some uncertainty as to how the pandemic will evolve, but the board believes the group is well positioned to continue to make progress in the current year.”

Genuit’s shares are 4.02% or 23p higher at 595p.

11:04 am: Cannabis company in flight

Shares of () are higher after the medical cannabis group unveiled a manufacturing deal for its products.

It said it will manufacture, package and supply Kanabo’s range of cannabidiol (CBD) from its manufacturing facility in Wales, which uses EU Good Manufacturing Practices – a system to ensure that products finished products are efficient and safe for distribution.

Pure Origin and Kanabo will establish a production line dedicated to VapePod’s CBD Wellness formulas that will use Kanabo’s equipment, production protocols and PI.

Kanabo will supply raw materials to Pure Origin for the preparation of the CBD formulations and the final packaging. The current production line will have an initial capacity of 44,000 units per month with the possibility of further increasing production if required.

The company said the new agreement marks the end of the pilot sales period and is the prelude to a full product launch internationally.

Its long-term strategy involves continued research and development to develop a range of unlicensed medical cannabis oils, which will be sold as unlicensed medical products.

Kanabo is up 6.38% to 20p.

10:21 am: power company is under pressure on working capital

Actions between () have blown a fuse.

They are down 11.11% to 0.6 pence after the power company updated the market on its problems in Argentina.

It owns a 50% stake in Energia del Sur, a power plant in the country owned by Patagonia Energy.

After an agreement on tariffs for electricity produced by the power plant’s steam turbine expired in September, companies have attempted to negotiate a new deal with regulator CAMMESA, so far to no avail.

Until a contract was signed, revenues were fixed at spot prices.

Ruralec said: “If this pricing is not corrected, it will have significant negative implications for EdS’s revenue and cash generation, which in turn will affect the timing and amounts of all cash payments due. by EdS to Patagonia Energy and ultimately to Rurelec.Since the resolution expired in September 2020, the only cash amount the company received from EdS through PEL was US $ 224k on October 23, 2020. “

EdS has contingency plans to cut costs, including shutting down the steam turbine. This means that it is not clear whether EdS will be able to generate enough cash to pay the company anything.

Argentina’s economy remains weak and the government is grappling with COVID-19, which is helping delay any resolution of tariff negotiations.

Rurelec said the future viability of EdS – the main source of funding for the company in the absence of asset sales – remains uncertain.

Rurelec will therefore continue to be under significant pressure on working capital.

It is seeking other sources of funding, including third party loans, and is also considering selling its other assets, including turbines in Chile and Italy.

8:29 am: the Pharma group signs key agreements

() delighted investors by announcing two potential links.

The company, which is developing a delivery system for cancer treatments and vaccines called Nuvec, has signed material transfer agreements – the first step towards formal collaboration – with two pharmaceutical companies.

The first is with an international company working in the field of gene therapy.

The second is a pharmaceutical company that is developing its own proprietary vaccine against Covid-19 using a DNA plasmid.

N4 also gave a positive update on the latest studies on Nuvec, although some expected results may be delayed in Q3 as the company assesses how best to ensure various research elements complement each other.

Managing Director Nigel Theobald said: “” We are delighted to have entered into two material transfer agreements with these respected companies, each catering to different markets.

“While there can be no guarantee that either of these agreements will result in a commercial collaboration, this marks a major step forward as we apply third-party materials to Nuvec.

“In addition, it confirms all the hard work that has been done to optimize Nuvec, that the major players in their fields are ready to invest their time and resources to see how Nuvec can be applied to their technologies and their intellectual property.

The update raised its shares from 17.72% or 1.4p to 9.3p.

Financial and insolvency advisory specialist Group PLC () is also heading higher after saying full-year results would be well ahead of market expectations.

A strong fourth quarter means it now expects revenue of around £ 83.7million and profits of £ 11.5million compared to analysts’ forecast of £ 77.1million at 78, £ 5million and £ 10.5million to £ 11.1million respectively.

Part of the growth came from four acquisitions during the period.

He insisted that the insolvency market remained repressed due to “government financial support measures and temporary changes in legislation”. This of course has an effect on its income in this sector.

But he has been appointed a director of several companies, including Football Index, Brooks Brothers and Ralph & Russo.

Analyst Rachel May, of real estate broker Shore Capital, said: “With over 70% of Begbies’ revenue coming from countercyclical activity and insolvency volumes well below historical levels, we are seeing even more upside in our forecasts as government support measures are reduced, which should lead to an increase in insolvency volumes. “

Begbies is up 7.12% to 1,129.4p.


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