The medical equipment manufacturing company Smith & Nephew published full year results this morning which received a positive reception from the market. Revenues rose just under 5% whilst profits jumped by more than 50% thanks to a strong final quarter and although headwinds from the Chinese market persist, the company also noted that revenue growth ought to be sustained in 2025, too. Rounded off with a management commitment to unlocking substantial value for shareholders, the Smith & Nephew share price added more than 8% in early trade.
FTSE-250 listed Lion Finance which was formerly known as the Bank of Georgia, today published full year results. This saw operating income up 57% and a solid increase in profitability, loan quality remained high and management also approved an extension to the ongoing share buyback, consistent with the company’s commitment to return 30%-50% of annual profits to shareholders. The Lion Finance share price jumped almost 10% in the first hour of trade.
Shares in the engineering and consulting firm Wood Group jumped this morning, extending gains seen on Monday afternoon following the company’s confirmation of media speculation that an approach had been made to buy out the company. The all-cash offer from Sidara – a previous suitor of the company – is again only in the opening stage, but the clock is ticking to meet the offer timetable. The Wood Group share price had added 7% before 9am on Tuesday, but is 45% higher on the week.
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