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Jaywing surges as it returns to profitability

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Jaywing PLC (Lom:JWNG) rocketed 23% to 6.35p after its interims revealed the company moving into the black with a bang.

The data science specialist saw net revenue in the six months to the end of September slide to £9.34mln from £12.00mln in the same period of 2019 but that did not stop it posting adjusted underlying earnings (EBITDA) of £1.39mln, versus a loss the year before of £573,000.

The reported loss before tax narrowed to £251,000 from £1.54mln the previous year.

10.10am: Orders rolling in at Corero 

Corero Network Security PLC (LON:CNS) hacked its way 21% higher to 10p after it unveiled a slew of contract wins from October and November.

The provider of real-time, high-performance, automatic distributed denial of service (DDoS) defence solutions said it took more than US$3mln in order in the first two months of the final quarter of 2020.

Revenues associated with these orders will be recognised over the course of the lifetime of each of the contracts.

9.15am: Applegreen’s founders in talks to take the company private

Applegreen PLC (LON:APGN) soared 40% to 496p after it revealed it is involved in talks that might lead to a cash offer for the company.

A consortium including B&J Holdings Limited, which has a 41.3% stake in the company, and Blackstone Infrastructure Partners are mulling an offer at €5.75 for the petrol station convenience stores operator.

B&J Holdings Limited represents the holdings of Applegreen’s founders, Robert Etchingham and Joseph Barrett, respectively the chief executive officer and chief operating officer of Applegreen.

CML Microsystems Plc (LON:CML) jumped 22% to 63p after it agreed to offload its storage division, Hyperstone, for US$49mln in cash.

The buyer is Swissbit, a specialist producer of industrial-grade data-storage and embedded Internet of Things (IoT) solutions.

The proceeds from the disposal will “provide the group with the financial flexibility to maximise its future growth potential”.

ADM Energy completes acquisition of extra stake in OML 113

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