Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Full year results are out from AstraZeneca [LON:AZN] this morning, which note a 9% increase in revenues whilst EPS has risen by some 15%. Those numbers were in line with guidance issued previously and looking at the year ahead, EPS is expected to advance from the $4.02 posted to between $4.75 and $5. Critically, that guidance does not include any revenue or profit impact from the sales of the company’s COVID-19 vaccine, a line which will be reported separately going forward. Dividends for the full year are unchanged.
MJ Gleeson [LON:GLE] has published a half year report this morning, covering the six months to December 31st. Revenues are up almost 36% whilst pre-tax profits have risen by more than 50%. Government furlough grants have been repaid and the dividend has resumed. Obviously there’s a degree of pent up demand here following the first lockdown but perhaps most critically is the company’s observation that full year numbers will be significantly ahead of market expectations, although management also acknowledge that there’s uncertainty over the speed of the economic recovery.
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Omega Diagnostics [LON:ODX] is an AIM listed company that made it onto our agenda a few days back following media comment that it was increasing production capacity. Shares rose 32% on Monday even though the company confirmed no supply agreement was in place however this morning they have provided the market with an update which includes news that it is set to provide the UK government with test kits and will be in position to deliver 2 million per week from April. That translates to a significant contribution to future performance and although there will be little effect on the current FY, it will meaningfully impact sales figures for the year to March 31st 2022.
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