Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Mondi earnings boosted
There’s a Q3 trading update out from Mondi LON:MNDI this morning, noting a 55% EBITDA improvement year on year, with higher selling prices and volume growth offsetting cost pressures. Input cost are up significantly but the company notes that only 10% of its energy requirement is from Natural Gas. Geopolitical, macroeconomic and inflationary challenges will continue but there’s confidence the group will deliver a good year of progress.
#2. Loungers find the right mix
Bar operator Loungers LON:LGRS has published a trading update for the 24 weeks to 2nd October, noting significant market outperformance. Like for like sales were up 17% and since the start of the year the company has opened 11 new sites. Clearly inflationary pressures pose something of a threat but the company is working hard to mitigate these and get the balance right, but the popularity of its venues suggests that at least so far, they’re getting this right.
#3. Narf win contract with Uncle Sam
Cybersecurity specialist Narf Industries LON:NARF have advised the market of a significant contract win worth some $6.3m. The deal – working for the US government – is the largest single contract signed by the company but critically Narf has the ability to commercialise the IP arising from the accompanying R&D work.
