Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
This morning’s highest profile news is the interim results from SSP Group [LON:SSPG], the operator of restaurant and store franchises at transport hubs worldwide. This covers the six months to March 31st so is against tough comparatives as the equivalent period for 2020 was largely unaffected by COVID, especially in Europe and the US. Like for like sales were some 79% lower and the company expects it to take until 2024 to see a return to pre-COVID levels of business. Cash burn is slightly below previous forecasts and expectations are for sales to improve slightly to around 25% of pre-COVID levels in the second half.
Dewhurst [LON:DWHT], the supplier of keypads to products ranging from lifts to ATM machines, has this morning reported results for the six months to March 31st. Some interesting insights here with regard to the impact of COVID – sales for lifts have been similar to the previous year, but with demand for cash – and consequently ATMs – subdued, this side of the business has struggled. Headline numbers however show revenues up 3% and pre-tax profits up 36%. These numbers in some instances do reflect pent-up demand but the company advises that from here things could get choppy, with supply chain disruption seen as a risk. An interim dividend of 4.25p, up from 3.75p in 2020 has been proposed.
Remote Monitored Systems
Remote Monitored Systems [LON:RMS] has published full year results today. The company has been in focus in recent months following its acquisition of Pharm 2 Farm, but the headline numbers seem unlikely to cause much excitement. Revenues doubled to £104k, but losses almost trebled to £1.53m, although these figures are up to the end of 2020 so don’t really encompass the new initiatives taken by the business. That said, the chairman’s statement also acknowledges the changing market for anti-viral face masks as a result of successful vaccine roll outs has made sales challenging, although the IP involved in the materials here still holds potential.
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