Market sentiment is rapidly re-focusing on earnings potential in an improving economic cycle. Norcros’ CMD was well-timed with this increasing willingness to consider mid-cycle earnings scenarios.
Arecor FY23 revenues of £4.6m (+90% on FY22: £2.4m), as disclosed in the Trading Update (February 2024 Lighthouse), included first recurring royalties on AT220 and the EU launch associated milestone.
In a statement to accompany today’s AGM, Mpac reports that the strong earnings momentum established in the second half of 2023 has continued into 2024. Accordingly, the Group is on track to meet FY24 market expectations, with the customary second-half earnings weighting.
Hunting has received a record US$145m OCTG order with shipments to the Kuwait Oil Company expected to start toward the end of 2024. As a result, following an in-line Q1 update, EBITDA guidance has now firmed towards the upper end of the company’s existing US$125m135m range.
The results for the year ended 29 February released today show a robust performance across a difficult year, but they also provide good grounds for optimism. Revenue of £4,720m was a 17.6% advance on FY23, helped by the successful acquisition of Helston in FY23.
Prospex Energy (PXEN LN) is an investment company with exposure to European gas and power markets. The company has recently reported full year results with a net loss of £1.2m which broadly represents the G&A of the investment company with cash generative performance from the underlying investments; an operating gas to power plant in Spain (49.9%) and producing gas assets in Italy (37%).
With a focus on long-term growth, Henderson Opportunities Trust (HOT) seeks investment opportunities across the breadth of the UK market. This includes a strong bias towards smaller and earlier-stage companies with significant potential to become tomorrow’s leading British businesses.
Greggs’ trading update for the first 19 weeks of the year shows that the company is driving superior revenue growth from its key initiatives of growing space, delivery and evening sales and leveraging the app along with its continuous menu enhancements, despite what has continued to be a challenging backdrop for consumers.
Finsbury Growth & Income Trust (FGT) has been managed by Lindsell Train since the beginning of 2001. During his long tenure, approaching a quarter of a century, lead manager Nick Train has steadily acquired a significant 2.9% personal holding in the trust, which is a considerable amount of ‘skin in the game’.
Baker Steel Resources Trust (BSRT) offers the potential for regular dividend and royalty income, as well as realisation proceeds, from its maturing portfolio of natural resources companies.
Three new Pharma Services agreements with large cap pharma in 2024 demonstrate that ANGLE’s business development activities are successfully translating into customer income. These deals will make a valuable contribution to near-term revenues and also have the potential for more sizeable future revenues.
While the weak advertising market suppressed growth in Online Marketing in the (seasonally quiet) Q1, Online Presence continues to perform robustly and group margins continue to expand.
Takeda, HUTCHMED’s ex-China partner for fruquintinib, has reported Fruzaqla in-market sales of JPY10.1bn for FY23 (for the 12 months ending March 2024), equating to c $68m (based on FX of JPY148/$).
This morning’s trading statement from ZOO confirms that customer demand has continued to recover following the end to the industry-wide strikes of last year, with FY24 expected to be ‘at least’ in line with current market consensus.
Ultimate Products announces today that sales revenue fell by 7% in its FY2024 third quarter and is anticipated to remain in negative territory in Q4. As a result, the company believes that EBITDA will now be in the range of £17.5m to £18.5m compared with a current market consensus figure of £21.5m.
BlackRock Sustainable American Income Trust (BRSA) offers a unique opportunity to invest in a fund that focuses on both value and sustainability.
Arecor has signed a collaboration with Medtronic, a leading global insulin pump manufacturer, to develop a novel, high concentration, thermostable insulin for use with a next-generation implantable pump.
Custodian Property Income REIT (CREI) produced a strong Q424 performance, driven by leasing progress and rental growth, rounding off a positive year.
Sylvania has maintained annual production guidance despite Q324 results being affected by a 22-day strike, resulting in 10% lower production. The PGM basket price was stable during the quarter, with positive platinum momentum offset by palladium weakness and rhodium prices stable.
1Spatial’s FY24 results reflected robust momentum for the enterprise business and continued improvement in the revenue mix, with investment in growth suppressing margin and cash generation.