Indoor air quality solutions company Volution issued a pre-AGM trading update this morning, along with news of an acquisition. Total revenue growth for the first four months of the year was 30%, a figure which has again been bolstered by the purchase of another company in the sector. The news of that £75m buy of AC Industries in Australia appears to have cemented opinion, with the deal funded from existing debt facilities. It should complete in February and be earnings accretive immediately. The Volution share price is up 7% in early trade.
Big losses for the boutique cinema operator Everyman who despite announcing this morning in a trading update that key headline metrics would post year-on-year growth, caveated the update with the fact that the pace of growth isn’t quite set to live up to market expectations. Consensus opinion had revenues of £121m for the full year, but a print of £114m is now expected, up from the £107m posted in FY24m which itself was an extended 53-week year, presenting tougher comparatives. The Everyman share price was down 15% and recovering some of the losses shortly after the open.
Transport operator FirstGroup announced this morning that it had been awarded a £3bn, eight year contract to operate Transport for London’s overground network. That starts in May 2026 and whilst the risk is carried by TfL, First can benefit from bonus payments if specific performance targets are achieved. The market seems to be welcoming of the news despite its underlying commoditised nature. The FirstGroup share price was up 5% by 8.30am.
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