Full year results are out today from the casual dining to hotel operator, Various Eateries. These underline the success management has had over the last twelve months in terms of repositioning the company, driving growth in revenue, margins and cash reserves. Following a solid Christmas season too, there’s conviction that the momentum acquired so far can be maintained and the Various Eateries share price is up 11% in early trade.
Over in small cap territory, the technical x-ray company Image Scan issued an update this morning on their defence contract with NP Aerospace, which has been terminated. This had been expected to deliver materially to FY27 and FY28 revenues, although management are quick to stress that the forward order book and cash position of the company both remain around £1m. The contract has been terminated for end customer convenience rather than the capability of the technology of the team, but the Image Scan share price is down 32% shortly after the open.
Again, it’s metals miners across the board who are worst affected by the ongoing slide in underlying prices, with Fresnillo the stand-out on the FTSE-100. Whilst gold’s losses have been well reported, the sell-off in Silver has been even more dramatic, with prices down by a third from last week’s record highs. That’s feeding through to those companies whose profitability is directly linked to the resale value of the metal, leading the Fresnillo share price was down just over 6% by 8.45am. Others in the sector were also trading notably lower.
Most read news on Investegate this morning
Statement re Possible Offer - - CAB Payments Holdings 1/3P (WI) (CABP)
Rebrand and change of Company Name - - Begbies Traynor Group (BEG)
No intention to make an offer for ATG plc - - Auction Technology Group (ATG)
