Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
TruFin
Fintech incubator TruFin LON:TRU has published its final results today for the year to December 31st. Although the company posted pre-tax losses of £8.4m off revenues of just £14.8m, the note adds that many of the investments made in recent years are now starting to yield fruit. Highlights here included news that revenues for Q1 are 20% up on last year, whilst Oxygen Finance has posted 4 consecutive quarters of EBITDA profitability.
ITM Power
There’s a short note from ITM Power LON:ITM out this morning regarding the sale of an electrolyser to Austria. It’s the company’s first play into the country but perhaps more critically, once purified, the hydrogen generated will be used in the production of semiconductors. That means the chemical can be generated onsite, rather than having to be shipped in on trailers. No details of the size of the sale are included.
Yourgene Health
AIM listed biotech play Yourgene Health LON:YGEN has this morning announced it has been successful in winning a place on the government’s national framework for COVID testing. This will see the company tendering for part of a £3bn piece of work, but the note adds that there’s no guarantee that any contract will be forthcoming or indeed if part of the tender is won, how much this will be worth.
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