Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Value proposition delivers for Hollywood Bowl
Half year results are out from leisure operator Hollywood Bowl LON:BOWL this morning with revenues up by 8.1% and pre-tax profits up by 10.5%. Shareholders are seeing a 22% increase in the interim dividend with the successful performance being attributed to consumer demand for value for money leisure experiences as economic conditions remain stretched. Further modest like for like growth is anticipated despite the strong growth comparatives which have been recorded.
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#2. Hunting order book hits record level
Hunting Group LON:HTG has this morning advised the market that it has received an $86m follow-on order from Kuwait Oil Company, taking the business’ order book to a record $751m. The news supports the company’s improving outlook for 2025 as international offshore activity continues to accelerate.
#3. WH Ireland notes challenging market but eyes fundamental improvement
There’s also a market update out from the small cap broker specialist WH Ireland LON:WHI this morning, advising that they have agreed terms for the disposal of their Capital Markets division to Zeus Capital for up to £5m, with the deal expected to complete by mid-July at the latest.
The structure here is just £1 up front with the balance being assessed subject to the first year’s performance. Management note that trading conditions remain challenging but AUM was stable between September ’23 and March ’24, whilst improving market conditions, cost reduction initiatives and the disposal should all bode well going forward.
