Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Increased reliance on own crop boosts performance at MP Evans
MP Evans LON:MPE, the producer of sustainable palm oil, has this morning published interim results where rising prices and falling costs have offset a modest reduction in output. As a result, operating profits are 50% higher and shareholders are set to benefit from a 20% uptick in the dividend and the benefit of using more internalised crop supply is yielding results.
2. £10m share buyback and profit outlook upgrade from AO
White goods manufacturer AO World LON:AO. has issued a pre-close trading update for the first half of the year. Profit forecasts have been updated and are now set to land at the upper end of the previously offered guidance, helped by double digit revenue growth. The company is also launching a £10m share buyback. The cash position is strengthening and the revolving credit facility remains undrawn.
3. Assay results from Capital Metals offer cause for cheer
Capital Metals LON:CMET this morning provided an update on the third set of drill assay results. These are reported as confirming consistently high heavy mineral grades and a threefold increase in the surface area of mineralisation compared to current resource estimates. Decisions as to where the actual mining site will commence are still to be made.
