The greetings card and gifting service Moonpig issued a pre-AGM trading update today, which received a warm welcome from the market. Management noted stead revenue growth and the fact that more partner suppliers are joining the platform is also seen as encouraging. EBITDA for the full year is expected to grow at a mid-single digit rate with adjusted EPS growth of 8% to 12%, whilst strong cash generation should also bolster returns to shareholders. The Moonpig share price was trading 6% higher shortly after the open.
The specialist in pre-clinical antibody discovery issued an update this morning regarding its OptiMAL project, which is being performed under a collaboration with the National Cancer Institute. The news reflects validation of the project as a platform for the isolation of specific antibodies and the market reaction has been positive, too. Shares were trading 25% higher by 8.30am.
The manufacturer of thermal and acoustic insulation issued a pre-AGM update this morning, noting that whilst over the first five months of the financial year sales were down less than 5% and pre-tax losses had been trimmed, the suspension of manufacturing by major client JLR on 1st September had a material impact on operations. Proactive measures have been taken to lessen the blow here, but this is an evolving situation. The Autins share price was down more than 50% in early trade.
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