Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Prudential to increase its Asian shareholder base
Insurer Prudential LON:PRU has this morning confirmed it is to raise up to 5% of issued share capital on the Hong Kong exchange. The note adds that “the Board believes that there are clear benefits to the Group and to its shareholders as a whole from increasing its Asian shareholder base and the liquidity of its shares in Hong Kong and intends to take these factors into account in the allocation of the Placing.”
#2. MyHealthChecked revenues jump to £3.27million
MyHealthChecked LON:MHC has published a release this morning, relating to Friday’s government announcement to simplify post-travel testing requirements. The company notes that H1 revenues jumped from £12,700 to £3.27million and this trend continued into Q3. Despite the change in UK regs, directors believe volumes can be sustained, off the back of requirements for outbound passengers and the fact non-travel related tests remain in demand. The company also plans to develop other easy to use DNA tests in the longer term.
#3. Finsbury Foods revenues up 2.3%
Finsbury Foods LON:FIF has issued preliminary results this morning, up to June 26th. Revenues are up 2.3% and the company has benefitted from strong cash generation, enabling it to pay down debt. The company does however note that it is likely to face persistent challenges around inflation skilled labour and driver shortages but remains confident regarding growth prospects. That in part is driven by latching on to emerging trends, including adding 50% capacity to its artisan bread production lines.
