Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. YouGov ups full year expectations
It’s a comparatively quiet end to the week, but YouGov LON:YOU has issued a trading update and notice of results this morning, covering the six months to 31st January. As a result of a good first half, the company now expects that full year results will come in slightly ahead of previous expectations and the board is confident of achieving top line growth in line with the current strategic plan.
#2. ITM Power electrolyser sale details updated
AIM listed clean fuel company ITM Power LON:ITM has seen its share price mauled in recent weeks and yesterday was no exception in the wake of half year results. Today the company has published details of the sale of a 24MW electrolyser to a Norwegian client, which will be used to power a fertiliser plant. That is currently one of the country’s largest CO2 emitters outside of the oil & gas industry so it’s interesting to see this illustration of decarbonisation at work. Revenue from the sale will be recognised in the 2022/23 results.
#3. Capita disposal targets now exceeded – but at what price?
Capita LON:CPI has this morning announced the sale of Trustmarque to One Equity Partners for £111m. This is the latest divisions to be sold off and means that Capita’s management have now exceeded their disposal target of £700m. They have also committed to selling down the remainder of their portfolio division, too. One point that may attract scrutiny however is the fact that Trustmarque was generating annual profits of £16m off revenues of £122m, which has the potential to look like a rather modest multiple.
