Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Half year numbers are out from Vodafone [LON:VOD] this morning, covering the period to 30th September. The company notes 8 successive quarters of improving customer loyalty however although the communications industry has played a vital role through the COVID-19 pandemic, it’s been far from good for the numbers. The significant reduction in international travel has hit revenues, although the business did post a significant EUR 1.5bn profit for the period, compared to a EUR 1.9bn loss a year earlier. The interim dividend of EUR 0.045 per share is maintained.
Diversified engineering group Smiths [LON:SMIN] has published a Q1 trading update today. Revenues for the three months to October 31st were down 2%, putting the company on course to meet full year expectations. The medical division of the company did however buck the trend here, with revenues for the unit up 4%. Cash generation remains strong with £413m on hand at the end of the reporting period.
Remote Monitored Systems
There’s an update from small cap Remote Monitored Systems [LON:RMS] out this morning. The firm has been a regular in our afternoon AIM market roundup column following its acquisition of an anti-viral mask manufacturer which was spun out of Nottingham University. Today they have announced a binding, heads of terms with a German manufacturer, allowing the company to try and better match future demand for its products. Even beyond COVID, it would be no surprise if there’s an extended focus on anti-viral technologies.
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