Three things you need to know as the UK financial markets open, from Tony Cross.
#1. Games Workshop sees upbeat end to H1
There’s a brief trading statement out from Games Workshop LON:GAW this morning, noting that since the last update in mid-September, the business performance has been running ahead of expectations. Estimates for the six months to 1st December are now for revenues no lower than £260m, up 10% YoY, whilst pre-tax profits are set to rise by 25%.
#2. Steady gains, upbeat outlook for Workspace
Flexible office provider Workspace Group LON:WKP has interims out today, noting rental growth and the ability for the market to support price increases. Underlying net rental income is up 4.3% and a 5.1% increase in net trading profit was also delivered, with shareholders set to see a 4.4% increase in the half year dividend. Looking ahead, management believe that the recent budget is unlikely to have much impact on clients, capital expenditure in H2 will be funded by asset disposals and in the longer term, significant earnings and dividend growth are both anticipated.
#3. Can autonomous vehicle solutions drive growth for Tekcapital?
Rounding off the morning, Tekcapital LON:TEK has published a portfolio update on its Guident asset which builds autonomous vehicle safety solutions. Whilst this note is very much a round up of developments from recent months, given the growing popularity of autonomous transport options, this has the potential to be a fast growth area. Tekcapital owns 100% of Guident and the total addressable market for automotive active safety systems is projected to exceed $25bn by 2030.
