The FTSE-100 engineering firm IMI issued full year results this morning which painted a robust picture in terms of performance, with sales up 5% and operating profits 8% higher. Management attribute the uptick to the success of growth strategies which have delivered five successive years of mid-single digit organic revenue growth. The momentum is seen as being embedded and that has paved the way for a 10% increase in the dividend plus a £500m share buyback. The IMI share price was up 4% in early trade.
Quantum Blockchain Technologies
The AIM listed investment company with a focus on the blockchain announced this morning that a Bitcoin mining rig had been shipped to a partner and initial testing was complete. Management see this as a key step in the process of allowing the deployment of AI technology on one of the most advanced mining rigs currently on the market. The Quantum Blockchain share price was up 18% shortly after the open
Australian based mineral explorer New Frontier updated the market this morning with news that whilst it had found Tungsten deposits in its latest drilling work, the much sought after rare earths were absent. Whilst only a fraction of the site has been drilled, continuing this analysis will require investment and that seems to be rattling investor confidence. The New Frontier share price was down 24% by 9am.
Most read news on Investegate this morning
Half Year Accounts - - Sovereign Metals Limited NPV (DI) (SVML)
Publication of Admission Document - - Rosebank Industries Plc (ROSE)
