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26 April 2021 | 09:15am StockMarketWire.com - Oil and gas production and development company EnQuest said it had signed a share purchase agreement with Whalsay Energy to purchase their 100.00% stake in the P1078 licence containing Bentley heavy-oil discovery. This discovery is within c.15 kilometres of the group s existing Kraken and Bressay operated interests, offering further long-term potential development opportunities and other synergies, the company said. Completion of the deal would be depend on the satisfaction of a number of conditions precedent, including the UK Oil and Gas Authority granting an extension of the existing licence term, which is currently due to expire 30 June 2021, and the receipt of other third party approvals. ....
14 April 2021 | 08:18am StockMarketWire.com - UK stocks eked out modest gains in early trading on Wednesday after a reasonably tame US inflation reading eased concerns about rising bond yields, offsetting a disappointing earnings release from Tesco. At 0816, the benchmark FTSE 100 index was up 8.28 points, or 0.1%, at 6,898.77. Supermarket group Tesco fell 3.6% to 223.75 as it reported a 20% drop in annual profit after rising grocery sales were offset by lower fuel sales, costs associated with adapting to the pandemic and a writedown at its banking operation. Tesco held its annual dividend steady at 9.15p per share, while forecasting a strong improvement in profitability in the current financial year. ....
14 April 2021 | 07:18am StockMarketWire.com - Defence equipment supplier QinetiQ upgrading its annual guidance, citing stronger orders and margins in the fourth quarter. QinetiQ said it now expected to post an underlying operating profit for the year through March of at least £147 million. Full year order intake has been strong, and subject to audit, we expect to deliver high teens percentage revenue growth, high single-digit percentage revenue growth on an organic basis, it said. Underlying operating profit margin was expected to be modestly ahead of that delivered in the first half. Net cash at 31 March was at least £150 million . QinetiQ said said its performance was underpinned by overachievement across its Europe, Middle East and Africa services portfolio, offsetting modest Covid-19 impacts seen earlier in the year. ....