Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. ME Group on track for record full year profits
There’s a trading update out this morning from ME Group LON:MEGP the company that sits behind a number of self-serve equipment lines ranging from photo booths to laundries. Group revenues are up 4.3%, something that has been impacted by currency headwinds, whilst pre-tax profits have added an impressive 10.3%. On the basis the second half of the year is typically the strongest, management are confident of achieving record full year profitability for the business.
- UK Stock Market News: ME Group, Wood Group, Judges
- Three Quick Facts: ME Group, SIMEC Atlantis, ZIGUP
- Three Quick Facts: Robert Walters, Burberry, ME Group
#2. Gulf Marine sees existing contract expanded
There’s a short trading update out from Gulf Marine Services LON:GMS noting that they have now signed the second phase of a four year contract announced back in March. That takes the order backlog to $431m, with management noting that this positions the business well to achieve strategic goals and drive shareholder value.
#3. Partway Group set to liquidate and delist from AIM
AIM listed Partway Group LON:PTY has this morning announced that having failed in its bid to complete a reverse takeover and with no meaningful prospect of doing so in an orderly manner before a market deadline later in the year, that they will return capital to shareholders and cancel the company’s listing with immediate effect. The note also highlights the costs associated with maintaining the listing whilst operating as a cash shell.
