logo-loader

TT Electronics boosted by strong demand

Last updated: 10:29 13 May 2022 EDT, First published: 04:53 13 May 2022 EDT

Fulcrum Utility Services Ltd -

TT Electronics PLC (LSE:TTG) advanced 5% to 187p on strong continued demand and unchanged full-year outlook. 

The engineered electronics provider published the trading update for the four months ended April 2022 before its annual general meeting on Friday. 

Its revenue rose 6% compared with the same period the previous year, driven by the strength of customer relationships and growth trends in focus end-markets.

Order intake continued to run well ahead of revenue with book to bill running at 151%, the company added.

TT said business was still executed well in the face of Covid disruption and the well-documented supply chain issues.

2.15pm: ThinkSmart climbs as buyback plans announced

ThinkSmart Ltd jumped 7% to 24p on the back of a business update that announced it intended to return £2.5mln to shareholders.

A general meeting for the digital payments platform business will be held on 29 June to approve this return, it said.

ThinkSmart added it retained a positive outlook for the 619,000 shares it holds in Block Inc (NYSE:SQ)

1.15pm: Reabold Resources climbs after appointing chief financial officer

Reabold Resources PLC (AIM:RBD) advanced 8% to 0.33p after it lured EnQuest PLC financial controller Chris Connolly to the company to be the chief financial officer.

Connolly has more than 16 years of experience in the resource industry.

"His wealth of transaction and reporting experience across a wide range of premier resource companies will be of significant value to the company during an exciting period for our business,” said Stephen Williams, Reabold co-chief executive officer.

12.20pm: Powerhouse Energy surges as possible joint venture project looms

Powerhouse Energy rose 8% to 1.7p  after speculation was confirmed about a possible tie-up with Hydrogen Utopia International PLC (AQSE:HUI)

The two parties are in discussions over a joint venture project opportunity in the Republic of Ireland.

There is currently no agreement in place and the Powerhouse board is considering the proposal and how it may become involved in the potential project, which is at a very early stage.

Hydrogen Utopia said it has been exploring the possibilities in the region since November 2021 and is searching for a joint venture partner to develop a first of a kind waste to hydrogen facility.

11.15am: Griffin Mining advances on surging sales and profit

Griffin Mining Ltd climbed 8% following considerably higher sales and profits that were revealed in its 2021 full-year results for the period ended 31 December.

The company's revenues surged 61% to US$122mln and operating profit skyrocketed 143% to US$37mln.

As a result, earnings per share also soared by 182% to 14.5 cents.

It must be noted, however, the comparative prior year was substantially hit by the pandemic, with some global lockdowns that hurt supply chains and output.

Record amounts of ore were mined and processed in 2021 which, with improved zinc metal market prices and lower smelter treatment charges, contributed to the higher figures.

9.53am: Fulcrum Utility slumps on lower profit expectations 

Fulcrum Utility Services Ltd (AIM:FCRM) sunk 19% to 7.4p on its trading update for the year ended 31 March.

The utility service provider expects its profits to be hurt by ‘considerable turbulence’ in the UK energy market, as well as wider market issues including surging costs and supply woes.

It also blamed the performance and profitability of the group's smart meter exchange and management contract with its energy supplier.

Although revenues are expected to be 21.8% higher year-on-year at £57.4mln.

Rush Rare Metals Advances Two Key Projects: Uranium in Wyoming and Niobium...

Rush Rare Metals CEO Peter Smith joined Steve Darling from Proactive to share news about the mineral exploration company's focus on its Boxi Property in Quebec and the Copper Mountain Project in Wyoming. The company recently announced the staking of the Knob claims in Wyoming, comprising 52...

17 minutes ago