Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Molten Ventures portfolio value falls but company outperforms benchmarks
VC play Molten Ventures LON:GROW has interim results out this morning to 30th September. Portfolio value is down by 12%, giving a NAV per share of 837p, a number that’s significantly higher than Friday’s closing share price. Challenging conditions for tech markets globally are hitting Molten, but management note that portfolio performance has been strong, especially when compared to benchmarks including the NASDAQ.
#2. Next Energy Solar increases dividends, outlines impact of windfall tax
Next Energy Solar Fund [LON:NESF] has also issued half year results today, with the specialist solar and energy storage climate impact fund noting a 9.4% increase in NAV, EPS has close on doubled to 13.1p and dividends are on target to increase 5% over the full year. Rising power prices are bolstering asset valuations for the company and the note also includes some interesting detail on how the recently announced windfall tax on low carbon producers will impact the bottom line. It doesn’t hit government subsidised revenues which make up around 50% of total revenues or profits made from energy storage, moves which will significantly reduce the total impact. Want to find out more about Next Energy Solar Fund? Listen to our recent podcast.
#3. Zinc Media eyes full year revenues well ahead of expectations
TV production company Zinc Media LON:ZIN has a trading update out ahead of the year end. Revenues are expected to come in at £28m, significantly above market forecasts, whilst £6m is already booked for next year and a further £16m in at an advanced stage. EBITDA is performing in line and the company anticipates being profitable in H2. A recently acquired unit – Edge – is also performing well.
