Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Harland & Wolff EBITDA losses overshadow strong order book
Infrastructure play Harland & Wolff LON:HARL posted a half year report this morning. Revenues advanced 65% from a year ago, although that came at the expense of rising EBITDA losses as the company staffs up for imminent contracts. However with an order backlog reported at £1 billion there’s plenty to cheer. Critically it’s going to be a case of balancing the hooks however. Management have FY23 revenues at £100m and FY24 at £200m.
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#2. Computacenter revenues building, cash position improving
Computacenter LON:CCC also has interim results out today. Revenues are up by 27%, adjusted pre-tax profits are up almost 9% and the company is on track for its 19th year of earnings growth. The company notes that its cash position also continues to improve as it reduces inventory towards more normalised levels.
#3. 88 Energy half year update provides limited inspiration
And rounding out a relatively quiet morning there are also interims from 88 Energy [LON:88E]. There’s nothing that looks too exciting here and although income has ticked up sharply, the company continues to post significant losses. Cash on hand at 30th June stood at $7m, down from the $14m posted in December 2022.
