Big price moves - more to go for?
Shares in a company we have covered since IPO soared on strong results and a very positive outlook, but we think it can get a whole lot bigger. Elsewhere, we aren’t so sure of the high ratings carried by other companies covered here. There was also an update from the top performer of 2020, whose shares have fallen back to earth in 2021. (Free to read)
Novacyt: much expected Interim results from Novacyt (LON: NCYT), the international specialist in clinical diagnostics, were much as anticipated following the recent trading update. For the six months ending 30 June 2021 revenue was £54.0m (H1 2020: £63.3m), which excluded £40.8m of revenues for the UK Department of Health and Social Care (‘DHSC’) currently the subject of a dispute. Non-DHSC revenue increased by 20% to £54.0m supported by the growing UK private testing market. Novacyt also booked exceptional cost of sales of £35.8m in connection with the DHSC contract dispute to write down inventory and terminate supply agreements that the…