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Three Quick Facts: ITM Power, Begbies Traynor, Synectics


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

#1. ITM Power: forward reservations from Shell underline supply shortfalls

Slim pickings on the corporate calendar as we wind down towards the Christmas break but ITM [LON:ITM] have released details of a 100MW capacity reservation with Shell Deutschland Group, with the buyer securing future production from ITM.

This would see electrolyser stacks being built for a Shell facility in 2025/2026 and although the note cautions that the final investment decision is still to be made here it underlines the shortage of production capacity in the market.

#2. Macro headwinds boost Begbies’ performance

Begbies Traynor [LON:BEG] the insolvency specialists have half year results out, showing a strong performance so far and confidence in the full year outlook. Revenues are 13% ahead, the interim dividend is being increased by around 8% and it’s a combination of organic and acquisition lead growth that’s driving the business.

The worrying line here is however a broader macro one, with management noting that the current interest rate and inflationary environment in the UK will continue to drive corporate financial stress and maintain demand for insolvency services.

#3. Material profit upgrade for Synectics

AIM listed Synectics [LON:SNX] has published a trading update for the year to 30th November. The surveillance systems specialist now expects results for the full year to be materially ahead of market expectations, reflecting a strong H2 performance especially in the oil & gas markets. The order book is up by more than 15% from a year ago and the net cash position is improved, too.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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