Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Everyman Media full year revenues to exceed previous estimates
There’s a trading update out from the cinema operator Everyman Media LON:EMAN this morning, noting that admissions have been ahead of expectations since interim results were posted back in September. As a result, revenues for the full year will now exceed previous estimates with turnover no lower than £46m, EBITDA of at least £7m and there’s confidence that the momentum will be carried into the new year.
#2. ITM Power secures funding for 10MW electrolyser
More news from ITM Power LON:ITM, this time announcing that funding has been secured for a 10MW electrolyser to produce green hydrogen at a site near Glasgow. The project is designed to provide carbon-free transport and clean air for communities across the city, with Glasgow aiming to become the first net-zero city in the UK by 2030. The facility aims to supply hydrogen to the commercial market by the end of 2023.
#3. Dialight net debt expectations have been revised higher
Dialight LON:DIA, the global leader in LED lighting, has published a trading update for the four months to 31st October this morning. The group had traded well, noting year to date order intake up by 34% but a strategic decision had been taken to increase inventory levels in a bid to mitigate supply chain issues and successfully maintain on time deliveries. As a result, net debt expectations have been revised higher – something that is likely to be a recurring theme across industry in general. Expectations for the full year do however remain unchanged.
