FTSE-100 listed product testing company Intertek announced a strategic review this morning alongside a trading statement. Management noted they were exploring the idea of demerging or selling off the energy and infrastructure side of the business in order to unlock shareholder value and accelerate growth elsewhere. Combined with full year guidance being reiterated and news of continued margin progression the market gave the news a warm welcome with shares trading up 13% shortly after the open.
The multinational tobacco company Imperial Brands issued a trading update this morning. Despite showing good growth in the next generation product space, the note highlighted price and volume pressures in the combustibles market. The note added that whilst the conflict in the Middle East wasn’t having any impact so far, this remained under review and a further update would be provided in next month’s interim results filing. The Imperial Brands share price was down by as much as 5% in early trade.
A full year trading update from the provider of scientific technology tools Oxford Instruments was released today. This reaffirmed earlier guidance, noting that the tariff challenges that had hampered performance at the start of the period have abated, whilst tailwinds had also been seen in the semiconductor market. As a result, H2 revenues were significantly improved and only just below the comparative. The Oxford Instruments share added as much as 5% before handing back some of those gains as trade got underway.
Most read news on Investegate this morning
Strategic Review Initiation & Trading Statement - - Intertek Group (ITRK)
HYPROMAG AND MKANGO RARE EARTHS UK TO COLLABORATE - - Mkango Resources (MKA)
