WANdisco PLC leapt 135 to 317p after it deepened its relationship with database giant, Oracle.
The collaboration software specialist said Oracle is to provide customers and partners fully funded access to WANdisco LiveData Migrator to accelerate their data lake migrations to Oracle Cloud Infrastructure (OCI) without incurring any additional cost.
Oracle has strategically prioritised the movement of data into its cloud in order that customers can quickly benefit from the scalability and flexibility of the cloud without the burden of the associated transition costs. Oracle will purchase licences from WANdisco to be used in migration projects and there is already a large and defined pipeline, which Oracle intends to pursue over the coming year using WANdisco LiveData Migrator.
1.20pm: Belvoir benefits from rebound in rental housing market
Belvoir Group PLC (AIM:BLV) improved 7.8% to 259.9p after it said revenues hit a new record in 2021 as house sales surged and the lettings market recovered.
The franchise estate agency network saw total revenue rise by 36% to £29.6mln, a new high, with the result that profits for the year will also be well ahead of management’s expectations.
Residential property sales transactions were up 41% on 2020 and 22% ahead of the six-year average to 2019, said Belvoir.
1.15pm: eMobility division drives outperformance at Tandem
Tandem Group PLC (AIM:TND) climbed 7.0% to 535p after it said full-year profit before expectations will be ahead of the market’s current expectations.
The company said its own brands in the Toy, Sports & Leisure division had performed strongly while the Bicycles division saw revenues rise 3% from the previous year’s level, despite problems with stock availability on adult bikes. It was a very strong year for the eMobility segment with revenues in 2021 up 70% year-on-year.
The business continues to experience global logistical challenges, which are still affecting the supply of goods from the Far East to the UK. Despite this, Tandem’s order book remains materially ahead of the comparative position in the prior year.
12.10pm: Next Fifteen see growth across all segments
Next Fifteen Communications Group PLC (AIM:NFC) said its results for the full year will beat market expectations as it continued to see growth across ‘all segments’ in the fourth quarter.
The group, which provides tech- and data-driven marketing services, said revenue growth for the year to January 31 was a year-on-year 34%, with an underlying organic advance of 24%. The Q4 read-out mirrored this performance.
The shares rose 13% to 1,230p as the company said the strong dollar also provided a tailwind to trading.
11.05am: Studio Retail turns cautious as higher living costs look set to reduce discretionary spending
Studio Retail Group PLC (LSE:STU) slumped 38% to 97p after the online retailer said it is taking a more cautious approach to growth in the coming months.
The third national lockdown at the start of 2021 created unusually active and favourable trading conditions for Studio Retail in the final quarter of its fiscal year last year. Management expects to revert to more normal trading conditions in the fourth quarter of this financial year, assuming there are no further lockdown restrictions.
This is also a period where consumers traditionally spend less on discretionary retail, and this is likely to be compounded due to the higher living costs, notably fuel and energy price increases, management cautioned.
10.00am: Omega Diagnostics confirms it is considering a discounted share issue
Omega Diagnostics Group PLC (AIM:ODX) lost almost a quarter of its value after it confirmed it is mulling issuing equity to raise fresh capital.
The once high-flying medical diagnostics company, which has seen its shares slump to 8.125p from the heady days of August when it was trading in the high fifties on the strength of its Covid-19 lateral flow testing opportunities, said market conditions remain challenging and accordingly any issue of equity would be at a discount to the current share price.
Any fundraise would include an open offer to accommodate retail investors, it added.
9.05am: Venture Life jumps as it reveals strong order book
Venture Life Group (AIM:VLG) PLC jumped 19% to 44.5p after it said momentum in the second half of 2021 has continued into 2022.
The company, which develops and makes products for the self-care market, said that the order book is significantly ahead of the levels seen this time last year.
Full-year adjusted underlying earnings (EBITDA) should be in line with expectations, the company said.
Technology Minerals PLC (LSE:TM1) advanced 11% to 4.65p after it said its 49% owned battery recycling business, Recyclus Group, has opened its first lead-acid battery recycling plant in Tipton, West Midlands.
The plant will commence operations on the week commencing 7 February 2022.
"The UK has been in dire need of industrial-scale battery recycling technologies and the opening of this new plant at Tipton will help to provide a national capability to recycle lead-acid batteries. This is the first of ten plants Recyclus expects to open over the next six years to be a first mover in the battery recycling sector with its innovative IP in the Li-ion sector a driving factor in its expansion strategy,” said Robin Brundle, the chairman of Technology Minerals.