Three things you need to know as the UK financial markets open, from Tony Cross.
#1. Berkeley Group on track
Berkeley Group LON:BKG published a trading update this morning ahead of the AGM. Management note that trading has been stable over the first four months of the year. Full year guidance remains on track and pre-tax profits are set to be first-half weighted. Berkeley also sees opportunity in government planning reforms, although the full impact here is still to be understood.
#2. Superseed Capital revenue growth expanding
Aquis listed Superseed Capital [AQSE:WWW] has a short note covering interims out today. The VC fund for early stage AI/SaaS businesses notes NAV as being relatively steady whilst fund portfolio revenue growth is continuing to expand at a pace.
#3. Invinity Energy expects mid-term profit
Invinity Energy Systems LON:IES also has a trading update out. The energy storage company notes that H1 guidance remains on track. Whilst the change in UK government plus evolution in policy at a global level are generally seen as positives for the business, this is also dragging out the sales cycle. Some deals previously set to close in H2 are now likely to complete in FY25. Invinity has a cash balance close on £50m and believes EBITDA profitability can be delivered in 2026.
