Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. London Security Company: solid gains despite rising input costs
London Security Company LON:LSC has issued interim results today for the period to 30th June. Revenues are more than 20% higher, operating profits added 25% and earnings per share are up by almost 20% too. Foreign currency tailwinds added a little to profitability, although management note that rising input costs also took a toll. The company remains well funded.
#2. Gemfields production slowdown sees auction deferred
Gemfields [LON:GEM] has interim numbers out today. Revenues are around 20% lower as a result of production slowing at one of the company’s mines. The impact here has been so great that the planned November auction won’t now take place. Shareholders are being offered a 70% uptick in dividend however.
#3. Comptoir weather & transport woes weigh
Comptoir Group LON:COM has published its interims to 2nd July. Group revenue is up 2%, gross profits are flat, and management note that the company continues to be impacted by events outside of its control such as transport disruption and poor weather. The company continues to grow its estate and whilst there’s short term uncertainty, the longer term view is more upbeat.
