Genuit Group, Just Eat, Novacyt and Helium One the biggest risers this week


Looking at the biggest movers over the past week, the top three among FTSE 350 companies include Just Eat Takeaway, Genuit Group PLC (LSE:GEN) and Indivior PLC (LSE:INDV).

FTSE 100-listed Just Eat Just issued results earlier this week and today launched its Takeaway Pay card, complementing its business-to-business food delivery service for corporate customers, which is already available in 12 countries.

At its interim results on Tuesday, JET repeated its claim that its losses are likely to have reached their peak, even though there continues to be heavy invest in the fight for market share against the likes of Deliveroo and Uber Eats.

Of the new B2B card, analysts at Deutsche Bank (NYSE:DB) said: “This initiative fits well with the JET strategy to further digitise food ordering and payment solutions for B2B customers, and the card increases flexibility in a hybrid working environment from home, office, or on business travel.”

Genuit, meanwhile, as investors continue to get used to the new name for Polypipe, impressed investors with a strong set of interim earlier in the week, with revenue and profit 32% and 24% ahead of where they was in 2019, helped by the strong trading environment and three acquisitions.

The FTSE 250-listed company’s overall expectations for the full year have increased, with management now anticipating that underlying operating profit will be ahead of prior guidance.

Indivior has perked up without any specific news from the company but continuing their steady appreciation begun early last year as it settled outstanding legal cases with the US Department of Justice and former parent Reckitt Benckiser, with its former CEO Shaun Thaxter jailed after pleading guilty to misrepresentations about the safety of the company’s opioid addiction drug Suboxone.

In June the drug company raised its sales guidance for the current year as sales of both Suboxone and its new products are beating expectations.

Among AIM companies, diagnostics group Novacyt SA has been the top riser this week, bouncing back 42% to 423.2p, after a positive update on its COVID-19 tests, with half year revenues up more than 50% to GBP94.7mln.

It said: “The company expects continued strong growth in private testing as markets and travel re-open and, as the Northern Hemisphere heads into winter, the potential for higher infection rates will increase the need for COVID-19 testing. Since the start of 2020, the company has launched 16 new CE-IVD products, and expects to launch a further 10 by the end of 2022.”

Second was the newly renamed Tintra PLC, formerly known as St James House PLC (AIM:SJH), with the news this week being the conclusion of its adjourned shareholder meeting.

Third in the list was Helium One Global Ltd (AIM:HE1), mentioned below, where the shares are up 18% to 17.3p this week.

12.30pm: Current drilling just the start says Helium One boss

Helium One Global Ltd (AIM:HE1) continued its recent rally on the back of the start of drilling at the Tai-2 well, which will test a similar target to a previous well at Rukwa in Tanzania.

Tai-2 is located only 20 metres from Tai-1 and is being drilled from the same drill pad to prove up a helium system at the project.

Tai-1 showed elevated helium indications said chairman Ian Stalker but it was impossible to measure accurately, but the second hole will focus on the upper levels and Helium expects to get decent measurements this time.

Stalker emphasised too that this is the first target in a colossal project with many other targets already identified.

Rukwa is a great opportunity, he says but there is a lot of work ahead.

Helium One takes big step forward at Rukwa Project in Tanzania with start of drilling program

Shares rose 18% to 17.25p.

11.00am: Barclays activist regroups

Sherborne Investors B shares were the biggest fallers in early trades on Friday, down 54% to 0.25p, as the activist investor fund run by Edward Bramson posted its half-year results.

The fund, famous for its failed push to get Barclays to sell off its investment banking arm, reported its net asset value attributable to shareholders of GBP0.76mln, down from GBP17.5mln a year ago and GBP24.6mln at the end of December.

This follows its confirmation in May that it will realise its remaining investments by the end of 2021 by way of a demerger of its largest asset, TGI Fridays, and the reclassification of Electra into an operating company substantially comprised of its second largest asset, Hotter Shoes.

In June the company declared a dividend in specie of all of its 8,250,575 shares of Electra payable to shareholders.

The Sherborne Investors C fund also reported interim results and its shares were up 2% to 59.8p.

Having sold its 6% stake in Barclays in May said it had identified a new target company but will not name it until it had a disclosable stake – it said today that this was still the case and that a “turnaround of the new selected target company will increase shareholder value” in line with its objectives.

9am: Remote Monitored and Vertu Motors (AIM:VTU) lead early risers

Remote Monitored Systems PLC (LSE:RMS, FRA:R22) shares jumped 31% to 0.79p after the company confirmed an announcement from the British High Commission about a partnership by the company’s Pharm 2 Farm Limited subsidiary in India to distribute the virus-killing Pro-Larva mask.

First reported in June, the deal is with VKE Enterprises, which placed an initial order for 350,000 masks to be airfreighted to their distribution centre in India.

As the British High Commission said, the Pro-Larva mask is the first anti-viral mask to be approved by the UK Medicines and Healthcare products Regulatory Agency (MHRA) as a Class 1 medical device.

Vivek Kohli, chair VKE Enterprises, said: “I’m delighted to play a strategic role in the introduction of this cutting-edge British technology, that will keep my fellow country men and women safer. This is an exciting opportunity for a new Anglo-Indian partnership to do good in India.

“At this time, with so many countries continuing to struggle with Covid and an expected influenza surge later in the year, it’s paramount for countries and their organisations to come together to support one another.”

Remote Monitored Systems will change its name to Nanosynth Group PLC on Monday 23 August.

Elsewhere, Vertu Motors (AIM:VTU) PLC shares moved into a higher gear on Friday morning, rising 8% to 50.8p as the car dealer said it expects to resume dividend payments at its interim results amid the “exceptional” UK used car market conditions.

The UK’s fifth largest automotive retailer said profit before tax for the full year will be around GBP50-55mln, having previously guided to GBP40-45mln in July and a range of GBP28-32mln in June.

Under its Bristol Street Motors, Vertu and Macklin Motors chains, the company said like-for-like new vehicle orders for the key month of September are currently above last year, though it flagged a risk that new vehicle supply shortages will result in vehicle deliveries being delayed into future periods.

Vertu’s board said it intends to re-establish the payment of dividends to shareholders upon finalisation of the interim results.

“The board remains very confident in the prospects for the group, which is strategically well placed to capitalise on the changes and opportunities in the UK motor retail sector,” it said in the statement.


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