Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Hammerson making progress, but still below pre-pandemic levels
Final results from retail real estate play Hammerson LON:HMSO are out this morning. Earnings are up, losses are down and the company is reporting a strong increase in footfall too, notably as territories remove lockdown restrictions. There’s also growing demand for prime sites, but the performance continues to lag pre-pandemic levels and arguably this will be what investors would like to understand. A modest 0.2p per share dividend is being declared.
#2. Accsys Technologies revenues up, volumes down.
Accsys LON:AXS, the eco-friendly AIM listed company that combines chemistry and technology to create high performance, sustainable wood building products, have issued a trading update for the 10 months to 31st January. Revenues are up but volumes fell, a consequence of production issues and rising underlying timber costs. The company continues to progress with its strategic projects to enable increased production both in the UK and Europe. The underlying product here is well worth a look as they treat wood to mitigate its propensity to decay.
#3. Ten Lifestyle Group making steady progress; limited Russian exposure
Another AIM listed company, Ten Lifestyle Group LON:TENG, has published a trading update this morning. Revenue expectations for the full year remain in line with management forecasts, with the hit from Omicron expected to be offset by new contract wins and the post pandemic rebound. Momentum here is expected to be maintained into FY23 and the company adds that with only 1-2% of its revenues related to Russia, it expects impact from the conflict and accompanying sanctions to be limited.
