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Three Quick Facts: Woodside, Oxford Instruments, AFC Energy


Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Woodside lands first oil in Senegal

Woodside Energy [LON:WDS] has this morning announced it has recovered the first oil from its offshore Senegal project – the first time such an arrangement has been concluded for the country. That in turn marks a significant step forward for the national economy with the staging facility capable of handling up to 100,000 barrels a day.

#2. Full year numbers from Oxford Instruments pave way for restructure

Oxford Instruments LON:OXIG has full year numbers out today with revenues up around 5% but profits flat. Shareholders will however receive a modest uptick in dividends, advancing from 19.5p to 20.8p. The company has however been through a rebalancing exercise to de-risk certain aspects notably in China and management have also announced that the business is being split into two distinct divisions, focusing on a smaller number of markets with a more defined product set.

The company also announced that it would acquire FemtoTools AG for CHF17m with up to a further CHF7m payable on an earn out basis. FemtoTools revenues for FY23 were CHF10.9m.

#3. Fundraise by AFC Energy oversubscribed

AFC Energy LON:AFC has this morning announced that its fundraise was oversubscribed, raising a total of £13.8m with a further £2m being offered to retail customers. Shares were offered at a discount of 27% to last Friday’s closing price, but the injection of fresh equity investment into the green energy space perhaps offers some optimism at a time when many are turning their backs on ESG investing.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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