Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
British American Tobacco
There’s a first half pre-close trading statement out from British American Tobacco [LON:BATS] this morning. The stand-out headline is an expectation that for the full year, revenue growth will exceed 5%, so come in ahead of the 3-5% guidance which had been given previously. There’s a lot of talk in the note about commitment to ESG which at least when it comes to some elements seems slightly curious for a company involved in this space. Whilst the next-generation product roll out continues, traditional tobacco will presumably dominate for some time yet.
Oncimmune Holdings [LON:ONC] has published its full year trading update today, with full year revenues up eight times from the 2020 figure, although this was very much in line with market expectations. The company is confident over the coming year, with expectations that many of its ImmunoINSIGHTS service contracts can be converted into strategic commercial partnerships, providing the grounds for another step change in revenue growth.
Another small cap to round off with a trading update from Itaconix [LON:ITX], a company working on the use of plant-based materials in every day consumer products. Revenues are up 39% over the first five months when compared to last year’s figures, although the note gives little away in terms of outlook. There are some concerns that supply chain disruption around the end of lockdowns could delay some volume, but as a business and a sector, this focus on plant-based products is certainly one which will be watched with interest.
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