Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. 888 Holdings well positioned to deliver further progress
H1 results from gaming group 888 Holdings LON:888 have been released this morning, covering the six months to June 30th. Revenues are up 39% whilst gross profits added 40%, highlighting that the strong momentum built off the back of last year’s initial COVID lockdown has been maintained. The company adds that it is confident given its advanced technology, products and diversification, that they are well positioned to deliver further progress in the second half of this year and beyond.
#’2. PPHE Hotel Group Q2 sees a 95% uplift against the comparative
Hotel owner and operator PPHE Hotel Group LON:PPH has also issued interims this morning covering the first six months of the calendar year. The comparatives don’t make for very clear reading, given this straddled the start of the first European COVID lockdown. Revenues are off by more than 50% for H1, but Q2 saw a 95% uplift against the comparative. The group is operating quarantine hotels on behalf of the UK government and also hosted players and support staff for the Wimbledon tennis tournament. The company also notes that its Croatian operations have had a very strong summer, with revenues for July & August coming in around 90% of 2019 levels, whilst domestic tourism has also provided support. Meeting and event enquiries in the UK are at their highest levels since the start of the pandemic, although still below 2019 volumes.
#3. Yourgene Health Manchester lab receives ISO accreditation
AIM listed Yourgene Health LON:YGEN has this morning advised the market that its Manchester laboratory has received ISO accreditation for its COIVD-19 testing and sequencing services. In addition to validating certificates in the UK, this also means that the company obtains global accreditation, valid in 80 countries worldwide. With no sign that testing protocols will abate any time soon, this news could help shares push back toward levels last seen eleven months ago.
