Here are three developing stories you need to know about at the UK stock market open, from Tony Cross.
1. ME Group spins up Morrisons contract extension
ME Group LON:MEGP, the instant-services equipment group that was perhaps historically best known for its photo booths has this morning announced an extension of its partnership with supermarket chain Morrisons. The company will widen the roll-out of self-serve washing machines at Morrisons stores and in a five year contract, ME Group will install at least 200 further laundry machines across the Morrisons estate.
2. Contract win for Wood Group in Australia
Wood Group LON:WG. has this morning announced news of a significant contract win with Esso [EPA:ES] in Australia following a competitive tendering process. This is a long term contract, begins immediately and will see the creation of 250 jobs although no commercial details beyond this are included.
3. After a rough ’24, Judges hopes for fairer year ahead
There’s a full year trading statement out from Judges Scientific LON:JDG this morning. That comes off the back of a challenging 12 month period for the business, driven by a range of factors resulting in organic revenues declining 5.8% and the high level of operational leverage in the business means this has a large impact on profitability. However with some of those projects deferred from last year now expected to get underway, 2025 is starting on a stronger footing.