Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. COVID hits Marstons performance pre-Christmas
Slim pickings this morning, but Marstons LON:MARS has published a trading update for the 16 weeks to 12th January. Like-for-like ales were down 3.9% against FY 19, reflecting weaker consumer sentiment and the change in consumer behaviour as a result of the emergence of the Omicron variant. The company does however note that performance within the M25 was significantly worse than elsewhere, most notably in the five weeks before Christmas. Costs remain in control and there’s confidence that changes in COVID regulations will now allow some normality to return to the market. An AGM is held today and interim results are expected in the second half of May.
#2. Rough ride for Oxford Biodynamics as it shifts stance
AIM-listed Oxford Biodynamics LON:OBD has published full year results today. The company is in the midst of a transition onto a commercial trajectory apparently, presenting a series of challenges which were exacerbated by the COVID pandemic. A string of operational highlights are listed, but if investors are looking at the financials they make for a rough read. Revenues have fallen by 40%, losses are up and cash has been depleted, falling from £11.5m to £4.3m at 30th September.
#3. N4 Pharma joins government backed accelerator
N4 Pharma LON:N4P, again on the AIM Market, has issued a works update on its oncology programme. Positive results as announced mid-December have allowed the company to join a government backed medical accelerator, which whilst not offering any guarantee of success, will lift the profile of the company. The detail in the note is very technical, but it’s difficult not to see this as a positive.
