One more day, another chance for investors to reward innovative companies committed to the government’s call to supply more fans.
A small research and development equipment Science Group has become the latest company to design a fan from scratch.
The AIM-listed company – whose Sagentia subsidiary is responsible for the machinery – has signed an agreement with the government to supply 10,000 if approved by the regulators of the Medical and Healthcare products Regulatory Agency (MHRA).
Desperately needed: The AIM-listed Business Science Group has become the latest company to design a fan from the start
The government is committed to ordering at least 30,000 fans so that the NHS doesn’t get overwhelmed when coronavirus cases peak.
It has placed orders for over 60,000 which is thought to be a strategy to hedge its bets in case one of a cluster of projects fails.
The Cambridge-based Science Group has sent 20 prototypes to the MHRA to be pricked, pricked and tested – and believes the model can be easier to manufacture than others because it doesn’t require parts to be sourced externally.
Science Group insists it can make them itself or by partnering with subcontractors – which reflects the promises of industrial heavyweight Dyson.
Stock Watch – Falanx Group
Cyber security minnow Falanx Group expects customers to spend more on its services once they have completed “immediate crisis planning.”
Businesses must protect themselves because the widespread switch to working from home has increased the risk of cyber-attacks in companies.
It saves costs, even if it can continue.
Falanx was one of the top AIM risers – up 43.5 percent, or 0.25 cents, to 0.82 cents – as sales rose 13 percent to £ 5.9 million last year.
Science Group shares rose 10.8 percent, or 20 pence, to 205 pence yesterday, making almost £ 8 million of the company’s market value, which is now around £ 86 million.
And the tough defender Babcock International (an increase of 7 percent, or 25.2 p, to 383.2 p), has in principle also imposed an order on the government to provide 10,000 fans if the MHRA gives the green light.
It collaborates with the German company Draeger, which makes medical equipment. Shares in engineering company Smiths Group – another company working on a fan project – also rose. FTSE 100-listed Smiths (up 9.9 percent or 110.5 p to 1226 p) delivered an existing design to Ventilator Challenge UK, a consortium of large companies.
Smiths has interrupted a divorce that was meant to be completed by the summer of the division responsible for ventilation, Smiths Medical, and cut the interim dividend.
Smiths boost boosted the Footsie last night by 2 percent, or 108.22 points higher, to 5,671.96.
It was boosted by increases in the shares of cigarette giants Imperial Brands (up 12.3 percent, or 163.8 p, to 1496.8 p) and British American Tobacco (up 4.7 percent, or 124 p, to 2759 p), both of which signed new credit to help them overcome any delays in the coronavirus outbreak.
Shares in large mining companies also increased, with Anglo American (5.9 percent or 78.6p to 1416.4p), Rio Tinto (1.2 percent or 44.5p to 3718.5p) and BHP (2.8 percent higher ), or 33.8 p, to 1252 p), when the data was higher, as data showed that China’s industry rebooted after a drastic slowdown amid measures to stop the spread of the coronavirus.
And Hikma Pharmaceuticals rose 3.6 percent, or 70.5p, to 2035p, as, in non-Covid-19 news, a US district court ruled that one of its generics does not infringe six patent rights.
Figures showed that supermarkets were even busier than Christmas in March, as panic customers spent £ 10.8 billion on food and other goods. Swindon-based retailer WH Smith rose 7.7 percent, or 82 pence, to 1141 pence, as it struck a deal with Sainsbury’s to sell groceries in hospitals.
Sainsbury’s share rose by a more modest 0.1 percent (or 0.2 pence) to 210.4 pence. Vimto creator Nichols (up 0.4 percent, or 5 p, up to 1200 p) and the AA (up 3 percent, or 0.5 p, up to 17 p) joined the parade for the cancellation of dividend.
The automobile association, founded in 1905, said it had seen no impact on trade yet, but braced itself for potential disruption.
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