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Three Quick Facts: Abingdon Health, Dignity and Vast Resources

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Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Abingdon Health interims show transition away from COVID testing complete

Interim results from Abingdon Health LON:ABDX note that the company has now completed its transition away from COVID testing. Revenues for the last six months came in a £1.1m, down from the £1.7m a year earlier but expectations are for a significant improvement in the second half, with FY income of £2.8m anticipated. Gross margins have improved slightly and the company had £4.4m cash at the year end, a number that is forecast as being £3.7m today. The board expects to be cashflow positive in FY’24.

#2. Dignity market share grows but losses mount

Funeral operator Dignity LON:DTY saw revenues shrink once again, falling 13% for the full year to 31st December. That has taken a toll on underlying profits which declined from £56m to less than £18m. Management note that proactive changes in pricing, a move towards cheaper funerals and cost pressures – some of which it is having to absorb – continue to weigh on performance, despite a modest uptick in share of market.

#3. Vast Resources update on release of diamonds

There’s a short update out from Vast Resources LON:VAST confirming that the processes for the release of diamonds which were being held in the custody of the Reserve Bank of Zimbabwe are underway. A further statement regarding physical receipt of the diamonds will be made on finalisation.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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