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Three Quick Facts: WanDisco, 88Energy, MyHealthChecked

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Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. WanDisco CEO & CFO stand down

WanDisco LON:WAND has issued a statement this morning. The company grabbed headlines twice in a week last month, proposing a dual listing in the US then suspending the UK listing of shares after discovering accounting irregularities. The shares remain suspended but the CEO and CFO are standing down with immediate effect. This apparently isn’t related to the ongoing investigation, but as it stands the 11th January trading update should have reported revenue of $9.7m, not the $24m noted, with bookings at $11.4m versus the $127 posted. The irregularities are believed to be the result of actions of one senior sales employee…


#2. 88Energy target depth achieved in Alaska, initial results positive

Encouraging news from 88Energy [LON:88E] which has now reached target depth in its Alaskan drilling project. All targeted reservoirs have been hit with thickness equal or greater than expected. Wire logging will now follow and is expected to take between 5 and 7 days to complete.

#3. MyHealthChecked plots post COVID pivot

MyHealthChecked LON:MHC, the consumer home health testing company, has announced full year results to 31st December. The company notes strong revenue growth fuelled by continued demand for COVID-19 LFTs from high street pharmacies. Sales are up 36% and although gross profits slipped by around 10%, cash at hand remains strong. The company is developing a B2B2C distribution network in preparation of launching an expanded range of at-home wellness tests later in the year, a significant move as it needs to look beyond the pandemic.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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