Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Coca Cola post tax profits doubled
Coca Cola [LON:CCEP] EuroPacific Partners issued preliminary full year results this morning, with the company remarking on it having been an extraordinary year. Volumes rose by 23%, revenues by 30% and post-tax profits close on doubled and management believe the company is well positioned for further growth, despite the fact that commodity inflation is expected to remain in high single digits.
#2. Helium One has sufficient capital to see business through next phase
AIM listed Helium One [LON:HE1] has published results for the full year to 30th June 2021 this morning. The gas plays an instrumental role in the digital revolution and remains in short supply, but a project in Africa the company is involved in could tap into reserves of Helium which is estimated would be sufficient to meet the entire global supply need for over 20 years. The company has so far worked through around half of its first two rounds of capital but believes that the $9.7m remaining is sufficient to see it through the phase two exploration. There’s a lot of data in the results so those interested may want to take a closer look.
#3. Pan African Resources full year production guidance upped
Pan African Resources [LON:PAF] has its unaudited results for the six months to 31st December out today. Group gold production rose almost 10% to hit a record and full year production guidance is upped to 200,000 oz. Earnings per share rose by 13% and a record dividend – in Rand terms – was paid last summer.