Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. GSK’s positive drug trial results
News from GSK over the efficacy of its Shingles vaccine has been published this morning. A randomised clinical trial in China showed complete protection for more than 6,000 over-50’s who were treated with the pharma giant’s Shingrix vaccine. This has been approved for use in China for four years, but the scale of the success certainly has the potential to be eye-catching.
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#2. Angling Direct: solid sales growth despite economic woes
Angling Direct LON:ANG issued half year numbers today, noting an 11.4% uptick in revenues. The company has opened two stores during the reporting period and continues to build out online sales, too. There was significant sales growth in the EU, with Germany advancing more than 60% and management note the significant opportunity than remains here. Full year numbers are set to be in line with market expectations.
#3. Cohort announces significant contract win
Technology group Cohort LON:CHRT has advised of a £17.5m contract win with an undisclosed UK customer, delivering an external communications system for a major defence programme. Management note that the contract underpins the orderbook and enhances the viability of future revenues. The work will be spread over a 32 month period and for context, FY 23 saw total sales of £182m.
