News blog

AIM 50 Digest 9 July 2021

  • BY: Andrew Hore |
  • POSTED: 11/07/2021 |

Jet2 (JET2) reported a £827.3m cash outflow from operations in the year to March 2021. The £80.4m raised from share issues helped to offset that, as did the £76m generated by disposals. Further loans have been secured since the year end. Revenues slumped from £3.58bn to £395.4m. This year’s performance will depend on the rate that travel destinations are opened up. Chairman Philip Meeson sold 2 million shares at 1188p each. He still owns 21.12%.
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RWS (RWS) has acquired Horn & Uchida, a Japan-based patent translation business, for £2.3m. RWS already has a subsidiary in Japan.
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Polar Capital (POLR) increased 2020-21 pre-tax profit from £50.8m to £75.9m. Total dividend was 40p a share, up from 33p a share the previous year. Assets under management reached £20.9bn at the end of March 2021.
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Impax Asset Management (IPX) had £34.4bn under management at the end of June 2021, which is a 15% increase over the quarter. This was a combination of new funds and market movements. 
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Central Asia Metals (CAML) produced 6,214 tonnes of copper at Kounrad in the first half of 2020. At Sasa, it produced 11,292 tonnes of zinc concentrate and 13,807 tonnes of lead concentrate. Net debt was $6.5m at the end of June 2021.
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Abcam (ABC) says underlying trading has been modestly ahead of board expectations, although that appears to be due to currency movement. Laboratory activity continues to improve and that is increasing demand for Abcam’s life science research tools, but it is not back to pre-Covid levels. 
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MP Evans (MPE) says that the Indonesian government has reduced the palm oil export levy by up to $100/tonne. This could benefit second half revenues although it is difficult to assess whether current pricing anticipated this move.
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Clinigen (CLIN) is selling its UK compounding business to Target Healthcare for up to £7.75m. This was acquired with Quantum Pharma in 2017 and was non-core, although it did make EBITDA of £1m last year.
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Fevertree Drinks (FEVR) co-founder Charles Rolls has further reduced his stake from 5.89% to 4.97%.
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Secure Income REIT (SIR) has collected 98.7% of the £25.7m in rent owed between 8 April and 7 July. A deferral of £600,000 of rent has been agreed.

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