Three things you need to know as the UK financial markets open, from Tony Cross.
#1. Ocado expands Japanese partnership
Ocado LON:OCDO has this morning issued an update to the market, noting that it continues to grow its partnership with AEON of Japan, with a third customer fulfilment centre now set to be opened, scheduled for 2027. These wins are critical for Ocado on the basis that international technology partnerships – rather than the UK grocery sales division – is where the real profit potential lies.
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#2. Marstons quits brewing, becomes pure play hospitality firm
Marston’s LON:MARS has this morning announced it is disposing of a 40% stake in a brewing joint venture to now focus purely on its pub estate. The asset has been sold to Carlsberg for £206m in cash, with the proceeds being used to pay down part of the company’s debt pile.
#3. ITM announces new customer order
Green hydrogen producer ITM Power LON:ITM has this morning announced that a customer has signed a 500MW capacity reservation, securing future production for the company’s electrolyser stacks. Whilst further contract details aren’t disclosed, this is noted as being another large scale industrial customer.
