Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Ted Baker confirms bid rumours
There’s a note out from Ted Baker LON:TED this morning confirming the accuracy of weekend media reports that it has now received two unsolicited offers from a private equity buyer. Both have been rejected on the basis the board believes that the approaches undervalue the business, but clearly this paves the way for renewed bids to emerge.
#2. Helium One interims remain firmly grounded
AIM listed Helium explorer, Helium One LON:HE1 has published interims for the six months to 31st December this morning. Perhaps the most critical point here is the funding situation – the company is running at a burn rate of around $1m per month and at the start of the year had just over $9m on hand. The report acknowledges that further funding may be necessary but management appear confident that raising this would pose few problems.
#3. John Lewis of Hungerford sales charging higher, outlook upbeat
Sticking with the junior market and John Lewis of Hungerford LON:JLH has published interim results for the period to 31st December. Sales hit an all time high of £4.6m although the company still managed to post a modest pre-tax loss. There is however a rather more upbeat assessment of the outlook with orders for the first 38 weeks set to be some 30% higher than they were in 2021, full year revenues should exceed £10 million and that would deliver profits materially ahead of last year, too.
