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Home » UK Shares » Three Quick Facts » Three Quick Facts: Joules Group, Nightcap and AFC Energy

Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. Joules Group acquisition meets earn out targets

Slim pickings as the trading week gets underway, but Joules Group [LON:JOUL] has announced that following the acquisition of The Garden Trading Company just over a year ago, there was a £3.5m earn out clause to be paid mostly in cash should trading targets be met. The company is reporting that these benchmarks have now all been met, so the over payment will now be made, in £3m cash and the remainder paid in newly issued equity. This may provide a little cause for cheer as the company’s share price continues to struggle after the profit warning at the start of the year.

#2. Bar operator Nightcap sees strong H1 growth

Interims from bar operator Nightcap [LON:NGHT] show a predictably upbeat set of comparators, along with news that the momentum here is set to be sustained as a result of additions to the estate and the lifting of those plan B restrictions late last year. Trade in the first nine weeks of H2 was 24.6% higher than was seen in the equivalent pre-COVID period and management notes that despite the challenges facing the hospitality industry as a whole, they continue to be supported by that post-pandemic pent up demand.

#2. AFC Energy signs lease with UK construction company

A short note from renewable energy provider AFC Energy [LON:AFC], who have this morning announced a collaboration with Keltbray for the lease of the company’s first fuel cell for deployment to a UK construction site. This is seen as a key move in the decarbonisation of the construction industry and there’s a roadmap in place between the two companies to look at further deployments over the coming year. The note adds that with the imminent removal of the red diesel subsidy, the economic case for using traditional diesel generators – combined with increases in the underlying price – have a fundamental impact on the viability of green energy alternatives.

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This article is not investment advice. Investors should do their own research or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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