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. Currency headwinds fail to stem profits rise at Oxford Instruments
Full year numbers from Oxford Instruments Group LON:OXIG are out today with revenues up 6.5%, profits 10.8% ahead and the operating profit margin showing a 70bps improvement. Shareholders are being rewarded with a 6.7% increase in dividends and the performance comes despite FX headwinds caused by a softening US Dollar.
Management note the strength of the differentiated higher margin business as being key in continuing to deliver attractive profit growth.
2. Operational update shows AFC nearing production of low cost units
An operation update from AFC Energy LON:AFC this morning provides news on progress on cost optimisation initiatives for its 30kW hydrogen fuel cell generator. Build costs have been reduced significantly and the company has also signed a deal with Volex LON:VLX to support its volume growth plans.
The lower costs should help drive adoption of the technology, making the hydrogen economy viable without government subsidies. Production of the first low-cost generators is expected in mid-2026.
3. Strip Tinning sees both margins and EPS losses grow
Strip Tinning LON:STG have their full year numbers out today. The numbers are mixed, with revenues down and eps losses worsening, but there has been margin improvement noted and sales for FY25 are expected to show a significant improvement.
Nominations for forward revenues have also been forthcoming, but the note also flags the need for further funding, via debt, grants or possibly another call on investors or strategic partners.
