Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Leisure company Hollywood Bowl strikes out pessimism fears
Coming out of the bank holiday weekend and with schools closed for the mid-term break it’s a predictably quiet reporting calendar but one apt play would seem to be Hollywood Bowl LON:BOWL. The bowling lane and entertainment operator has half year results out this morning, noting a 20.7% uptick in revenue and a 17.5% improvement in profits. Given the backdrop of rising costs and uncertainty over the consumer outlook that appears to be a solid set of results and shareholders are benefitting from a 9% increase in dividends. Trading is seen as being in line with expectations for the full year.
- AIM Market Roundup: Marechale, Oxford Biodynamics, SDX Energy
- Hollywood Bowl’s hot streak continues with record revenues
- Small Cap Stocks: i-nexus Global, Genip, Oxford Biodynamics
#2. Oxford Biodynamics sales jump but cash running low again
Oxford Biodynamics LON:OBD has its half year numbers out today. Revenues have almost trebled – admittedly from a low base of £85k to £220k – thanks to sustained order growth for the company’s innovative cancer therapy. Critically however the company notes that it needs to either noticeably increase revenues or seek further funding in the second half of the year, with the report noting material uncertainty as to whether the business can remain a going concern.
#3. STM’s new deal on interest to boost bottom line
AIM listed financial services provider STM LON:STM has issued a trading update this morning, revolving around an interest sharing deal with some pension members. The return to a more normalised monetary policy means interest on cash is once again a viable revenue stream and after negotiations with banking partners, the company expects to see the move contribute at least £1m to annualised profits going forward.