Full year results are out from FTSE-100 listed medical products company Convatec this morning and the news has given the market something to cheer. Revenues, margins and EPS are all higher, whilst the medium term organic growth projections have also been upgraded. That’s seen as being off the back of a successful strategy deployment, with shareholders benefitting from a 13% increase in dividends. The Convatec share price was 10% higher in early trade.
Student accommodation provider Unite Group issued its full year results this morning which presented something of a mixed bag. Whilst the company is well positioned to benefit from a decline in the private rental market, the recent acquisition from Empiric looks underwhelming. Rental growth and occupancy rates continue to lag the prior academic year, whilst guidance from 26/27 is also being moderated, with readings now set to land at the lower end. The Unite share price fell 9% shortly after the open.
The life sciences company Oxford Biomedica remains in the midst of a potential takeover but this morning issued a full year trading update. This saw revenues coming in at the upper end of the previously guided range, whilst the contracted value of client orders in FY25 increased by 20%. EBITDA has also turned positive, expectations are that this momentum can now be sustained, but the stock has found itself under pressure as a result. The success may make the private equity approach look less likely, and the Oxford Biomedica share price was down more than 8% at 8.30am.
Most read news on Investegate this morning
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