Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Ibstock sales return to pre-pandemic levels
Ibstock [LON:IBST], the listed brick manufacturer, has posted full year results this morning. Sales matched 2019 levels and the company posted a £65m profit. There may be some disappointment here that price inflation hasn’t provided more of a lift to those revenue figures, but the company notes it is carrying some strong momentum into early 2022 trade.
#2. 888 Holdings revenues edge towards $1bn
Full year results from 888 Holdings [LON:888] are out this morning, with the company showing strong revenue growth of 15% but falling just short of the $1bn mark. Gross profits are up by a similar amount and the company notes that momentum in the early part of the current year has remained upbeat. This company continues to scale at a rapid pace and the incoming acquisition of William Hill with further that cause, although investors have been advised that the capital requirement here means no dividend is being proposed.
#3. Will Molten Ventures portfolio update cheer investors?
A short note from Molten Ventures [LON:GROW] today who advise that following the closing of an external funding round in an undisclosed portfolio company, the fair value of Molten’s stake has risen by £76m, with the increase in fair value supporting previously advised guidance of 35% for the group over the year.