Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Ocado: positive EBITDA and revenues up 9% at half year
Half year numbers from Ocado LON:OCDO are out today covering the 26 weeks to 28th May. Group revenues are up by 9% but despite cost saving measures, the company continues to see cash outflows, albeit at a reduced rate. Technology solutions income continues to build, although this is starting from a low base and the posting of positive EBITDA at a group wide level is also notable. Full year guidance remains unchanged.
- UK high-yield bonds outperform US and European peers
- Ocado’s bonds are sharply outperforming its shares
- UK Stock Market News: Ocado, Dunelm, Premier Foods
#2. Revaluations hit Quantum Exponential; optimism over longer term
Aquis listed Quantum Exponential [AQUIS:QBIT] has full year results out today. Revenues have more than doubled since FY22 numbers were posted although operating expenses continue to grow. Asset revaluation has also taken a significant toll on the numbers, although management see the performance of portfolio businesses as at or above expectation, with hopes that sizable gains will be seen.
#3. Rising rates bolster performance at Wise
There’s a Q1 trading update out from currency transfer specialists Wise LON:WISE noting a solid performance across the board. Volumes are up 16%, revenues added 29% and income grew by an impressive 66%, with higher interest rates playing a significant role here. Full year outlook remains unchanged.
