Bellway shares were down 0.4% to 2,542p in early morning trading on Thursday following the company’s announcement that it would shoulder the £486.8 million fire remediation cost for its portfolio of buildings.

The housing firm made the commitment after it accepted the Government’s request for housing companies to take on the cost of fixing faulty cladding and fire risks according to the new Publicly Available Specification (PAS) from the British Standards Institute.

Bellway reportedly withdrew from the Government’s £4 billion housing fund, which had initially been drawn up to fund housing company expenses to fix fire hazards in their properties.

The company joined a series of housebuilders who recently signed up to the Building Safety Pledge, which committed the groups to using private funds to address fire remediation concerns in their properties.

The changes are set to be carried out on all buildings over 11 metres in height that Bellway helped to construct over the last 30 years.

The company said that it has currently altered four buildings, with plans in motion to carry out work on an additional 13 properties and designs in place for a further three developments.

Bellway confirmed that the alterations would not impact its future dividend payments and come at no cost to residents living in its properties.

The property firm said its balance sheet remained well capitalised, with a net cash of £195.8 million, a net asset value of £3.4 billion and committed debt facilities at £530 million.

The company noted that its current assets left it plenty of breathing room to cover its expenses under the fire remediation pledge and reiterated that the cost would not be detrimental to its future growth.

“The issue of life-critical fire safety defects in apartment schemes is a sector-wide challenge and Bellway has engaged extensively and constructively with DLUHC over recent months, both directly and through the Home Builders Federation (‘HBF’),” said Bellway CEO Jason Honeyman.

“We have always taken the issue of building safety very seriously and agree with the Government’s principle that residents should not have to fund life-critical fire safety remedial works.”  

“Our engagement to date and commitment to continue our responsible approach has resulted in Bellway today making a pledge that schemes constructed by us or on our behalf in the last 30 years will be remediated.”

Capita, the digital services company, will continue to offer IT infrastructure and services under the contract extension with Northern Ireland’s Education Authority, which is worth £50.6 million and will run through March 31, 2024.

Capita has been signed a two-year contract extension with Northern Ireland’s Education Authority to continue providing managed IT services to all 1,100 schools in the region.

Local area networks, cloud services, service desk support, networked desktop and portable devices, digital learning services for students and teachers, digital school administration and management services, along with professional development tools for teachers are just a few of the services offered by Capita.

Over the length of the contract extension, Capita will work with the EA and its partners to develop an innovation programme to ensure the service continues to fulfil the digital interests of all stakeholders.

This will entail Capita creating and implementing a new mobile-friendly version of the MySchool platform for students and staff, as well as several initiatives leveraging Microsoft Value BI to harness the power of data throughout the service.

Capita’s 10-year contract renewal with the EA builds on the company’s achievements in assisting Northern Ireland’s schools in adapting to the impact of the Covid-19 epidemic and managing the change to online learning.

Jon Lewis, Capita’s CEO, said, “The extension of our contract with Northern Ireland’s Education Authority reflects the strength of our decade-long relationship with the organisation, along with our significant digital and technology capabilities which have helped improve teaching and learning for Northern Ireland’s pupils and teachers.”

“Our teams will continue to transform the service, by bringing new innovative platforms and digital infrastructure into use. This contract reflects our ability to delight our clients while helping them harness the power of technology to create better outcomes, ensuring both a fair price for our clients and an appropriate return for Capita.”

Capita shares dropped 0.19% to 21p following the announcement in early morning trade on Thursday.

The global sports betting and entertainment group Entain reported its results for Q1 2022 where it noted a net gaming revenue (NGR) up 31% as a result of retail sales gaining momentum.

The return of retail has contributed to a strong start to the year, with group NGR up 31% in Q1 2022 compared to 2021.

Due to closures in 2021 due to the pandemic, retail is up significantly YoY with volumes resting between 5% -10% to pre-pandemic levels.

In all major markets of Entain, there is still promise despite online NGR dropping 8% in comparison to strong 2021 benchmarks. The fall of 8% in online NGR was in line with expectations as the boom from lockdown subsides.

The three-year CAGR of online NGR is up 14% (constant currency).

Actives have increased by 34% in the last two years, indicating that the client base is becoming more diverse.

Sports, online and retail along with iGaming revenues make up BetMGM’s revenue. BetMGM, which is consistently the leading iGaming operator with a 29% market share, is currently operational in 23 markets, including four new territories in the first quarter and Ontario on April 4th.

The additions of Avid Gaming, Klondaika, and Totolotek provide strategic growth expansion into new markets.

The Worldwide Gaming Alliance was established to ensure greater standards and protections in the global gaming business. Trials of ARC player protection in international markets are being expanded.

Based on current market assumptions, Entain is on track to achieve a positive EBITDA in 2023.

Under the group’s sustainability charter, it will maintain its focus and make progress toward its goals.

“We have started the year with a good performance across all areas of our business, driven as ever by the strength of our industry-leading platform,” stated Jette Nygaard-Andersen, Entain’s CEO.

“We have delivered strong performances in all of our major markets, and I am pleased to report that Retail is performing well with customers returning for our instore experience.” 

“In the US, BetMGM is firmly established as the number two operator, and our market launches during Q1 mean that we now have access to over 41% of the US adult population.”

“Elsewhere, our strategy of expanding into new markets is continuing at pace, having acquired businesses in Canada, Latvia and Poland during Q1.”

Entain shares dropped 1.5% to 1,595 despite reporting results in line with expectations in Q1 2022.

Specialist housebuilder, Inland Homes announced the completion of two land sales, the former Telephone Exchange in Staines and Phase 3 Gardiners Park Village in Basildon, on Wednesday.

The proceeds generated from the sale of both the Telephone Exchange and Phase 3 Gardiners Park Village will be used towards reducing Inland Homes’ net debt which is a priority for the company.

Telephone Exchange, Staines 

A private housebuilder has bought the former Telephone Exchange on Elmsleigh Road in Staines. 

In January 2022, Inland Homes received approval for 206 houses on the site.

The Staines scheme, with a gross development value of £65m, is part of Inland Homes’ asset management business, which discovers sites on behalf of investors and secures planning consent using its substantial land and planning experience.

This is a high-growth division of the group that generates significant service revenues with minimal investment and capital expenditure.

Phase 3 Gardiners Park Village, Basildon

Phase 3 of Gardiners Park Village in Basildon, which has 74 units and a gross domestic value of £27.5m has been sold to a private housebuilder.

In October 2021, the group received approval for a residential-led, mixed-use design at Gardiners Park Village with up to 700 houses and 25,000 sqm of commercial space.

Homes England, the government organisation entrusted with expediting housing delivery, is executing the plan through a public-private partnership strategy. Homes England, which owns a majority stake in the site, inked a development agreement with the group in 2020, and it (Homes England) will acquire the land in five phases.

Inland Homes will deliver new and enhanced services and infrastructure within the site as the masterplan developer, including renovating highways and moving sports facilities.

“We are delighted to have achieved these two land sales following receipt of planning consent,” said Stephan Wicks, CEO, Inland Homes.

“Demand for our quality land assets remains strong, with Inland owning and managing a land portfolio which is attractive to private housebuilders, affordable housing providers and build to rent operators.

“In line with our strategy, we will seek to maximise value from our land bank, with the fees and funds generated being used to further reduce the group’s net debt.”

Inland Homes shares lost 8% to 40.5p despite the announcement of completing two land sales.

Gaming Realms, a provider and licensor of mobile gaming material, said that its content was formally introduced in Ontario, Canada on April 4, 2022, the first day of the province’s regulated gaming market.

Rush Street Interactive (BetRivers), Kindred, and BetMGM have launched seven games from Gaming Realms’ Slingo portfolio in Ontario.

More of the company’s material is expected to be authorised soon, and it has agreements to go live with several other major operators.

“With thirteen deals signed for Ontario, and many more in the pipeline, this expands and strengthens our global presence while bringing our hugely popular and innovative Slingo content to a new audience,” said Executive Chairman of Gaming Realms, Michael Buckley.

“Ontario has a population of about 15 million people, and with the recently announced deal with Loto-Québec, our games are now available to more than 20 million people in Canada.”

Gaming Realms results for the year 2021 will be released on 26 April 2022.

Gaming Realms shares fell 5% to 29p following the company’s launch in Ontario.

Cybersecurity solutions company, BrandShield has signed a contract with a major pharmaceutical firm on Wednesday.

BrandShield Systems has announced the signing of a new deal with a major pharmaceutical manufacturer. The deal follows a period of continued sales growth and the signing of several new customers since the start of 2022.

BrandShield will provide enhanced brand protection for the pharmaceutical company, using its highly automated SaaS product to detect and eliminate online risks such as fraudulent pharmacies.

Geographically, BrandShield will focus on using its innovative software services to protect the pharmaceutical company’s operations from cybercriminals across Asia and Oceania, as well as safeguarding users and improving the customer experience.

The mandate adds to BrandShield’s growing roster of pharmaceutical clients, which includes collaborations with the Pharmaceutical Security Institute and Bristol-Myers Squibb to detect and remove rogue pharmacies and fake medicine listings from the internet.

Yoav Keren, Chief Executive Officer, BrandShield said, “This win is an example of one of several new mandates BrandShield has already secured in 2022, strengthening our reputation as a leading provider of digital risk protection solutions for companies across a wide array of sectors.”

“BrandShield has a proven track record of successfully identifying and eradicating critical online threats to global pharmaceutical companies and we look forward to extending our leading position in the pharmaceutical space, one of many exciting opportunities in our pipeline for the near to medium term.”

BrandShield shares gained 2% to 10.8p following the news of its new deal with a leading pharmaceutical company on Wednesday.

Eve Sleep has enjoyed an interesting 2022 so far, with the announcement of a potentially lucrative deal with DFS and reports of steady financial results in 2021.

The company reported a revenue uptick of 11% to £26.6 million against £25.2 million in 2020. Eve Sleep announced an increase in gross profit to £14.7 million compared to £14.4 million in 2020.

The firm announced that Q1 2020 was its strongest quarter due to rising lockdown restrictions, with a normalisation in its comparatives by the start of May the same year.

Eve Sleep reported that January and February trading were softer than in 2020, but the year overall represented a 6% uptick in 2021.

However, despite steady growth, the AIM listed company has so far fallen 24.5% year-to-date.

The firm attributed its increased £3.4 million pre-tax loss to higher marketing investment in France.

Eve Sleep shares fell 25% on 19 January 2022 to 2.6p on the back of reported delivery and customer service issues ahead of its final results for 2021, including strain on its delivery chain over the Christmas trading period, leading to customer service problems.

DFS Partnership

However, Eve Sleep saw its shares surge 95% in late February after it announced its partnership to sell its range of mattresses on the DFS site with a later rollout to its showrooms, with the share price rising to 2.9p on the day of the announcement.

However, it appears that the DFS partnership was only a temporary break in Eve Sleep’s shares continual downward spiral, with the price largely giving up all its gains since.

Sleep Wellness

Eve Sleep has also highlighted its ambition to break into the relatively untapped market of digital sleep wellness services.

“Our push into sleep wellness space will continue at pace in 2022, including the launch of our first digital services,” said eve Sleep CEO Cheryl Calverley.

“Sleep wellness is a large, fragmented and growing market, where we have a substantial lead over our more mattress focused competitors.”

“There is a real opportunity to create the world’s first digital sleep wellness retailer.”

Potential trouble ahead

However, the company noted growing geopolitical uncertainty as the Russian invaded Ukraine, and said that despite its unchanged goals to capitalise on its momentum in 2022, the firm’s situation remained subject to conflict-linked volatility in its supply chain.

It’s worth highlighting that 40% of the group’s revenue in 2021 came from its premium range; with inflation hitting new highs at a 30-year record of 6.2% and the energy price cap rising 54% in April, it’s possible that consumers will be less-inclined to spend cash on higher-end offerings from Eve Sleep if the tsunami of expenses coming up in 2022 empty their wallets beyond the cost of a new fancy mattress.

Eve Sleep’s rise to 2.9p on the DFS partnership announcement did not keep the attention of investor for as long as the company probably hoped for, as the shares have fallen back to stand at 2.1p at the time of writing.