Three important things you need to know from across the markets this morning from investment writer, Tony Cross.
The AIM-listed hydrogen producer updated the market this morning with interim results and it’s fair to say that investors liked what they saw. The stock rallied around 20% by 10am off the back of the news, which showed revenues up from £2m to £8.9m, losses shrinking and the company remaining well funded. The turn around plan announced a year ago has been deemed a success whilst management are confident that demand is piling up for hydrogen energy solutions.
Keeping with the small caps and fellow AIM listed Pebble Beach Systems also issued a trading update today, highlighting that momentum is building for the company. Sales for the full year are forecast to improve by 10% and adjusted EBITDA by 15%, both being ahead of expectations. New customer wins and price increases are set to see this trajectory being maintain in the new financial year. Shares were 25% higher in early trade.
Final results from GSK were released today, with management upping the medium term growth outlook for the company ahead of a series of major product releases due in the coming years. Investors didn’t seem to share the enthusiasm however with shares dropping back by around 1%, underperforming the market at least during the first part of the morning session.
