Three things you need to know in the financial markets today from investment writer, Tony Cross.
1. Naked Wines full year results see sales growth continue post pandemic
Naked Wines (LON:WINE) issued full year results this morning for the period to 28th March. Total sales continued to increase, although the posted 5% is significantly more modest that the lock-down driven gains seen a year ago. There’s strong retention of customers and the adjusted EBIT came in at £2m versus a loss of £1.5m for FY21. Sales for the current year are forecast to come in broadly flat.
2. Short trading update as 888 launches debt offering
Online gaming company 888 (LON:888) has published a concise trading update today, driven by the company’s decision to market a trance of senior debt through a wholly owned subsidiary. 888 expects to report revenues of £330-£335m for the six months to 30th June, a figure which is in line with expectations, whilst its Willian Hill division anticipates revenues of £620-£630m.
3. MTI Wireless Edge wins contract in Italy
AIM-listed MTI Wireless Edge (LON:MWE) has announced a contract win this morning. Several orders have been placed through Italian resellers, totalling around EUR1 million and management note that they see this market as having good potential to deliver further revenue growth both through existing and new clients. Here’s why we added MTI Wireless to our Picks in November 2020
- Three Quick Facts: 888, 88 Energy, Clean Power Hydrogen
- SmallCap Stocks: Roadside Real Estate, Kodal Minerals, Naked Wine
- MTI Wireless sees ‘compelling opportunities in all segments of operations’
