The Renewables Infrastructure Group
Green energy investor TRIG saw its share price surge this morning following news that it was combining with HICL. This will create the UK’s largest listed infrastructure investment company with net assets in excess of £5.3 billion. Technically TRIG will be wound up and the objective is to deliver accelerated returns to shareholders, but the market clearly sees a bias in the near term financials of the deal. The TRIG share price was up almost 7% in early trade, whilst HICL had retreated by a similar amount.
Genuit, the UK's largest provider of sustainable water, climate, and ventilation products for the built environment, published a trading statement this morning. That covers the 10 month period to the end of October and despite revenue growth being in evidence, the market was seeming expecting more. Management note that the subdued performance is likely to persist into the new year, with profit forecast also being trimmed by around 3%. The Genuit share price was down 12% shortly after the open.
Radiator specialists Stelrad issued a trading statement this morning that presented something of a mixed bag for investors to consider. Full year profits are expected to come in slightly higher year on year thanks to margin management and cost reductions, but the underlying market remains soft and that’s hitting revenues. That delay in end-market recovery is rattling the medium term outlook, and that’s leading market sentiment right now. Approaching 9am and the Stelrad share price was 13% lower.
Most read news on Investegate this morning
Combination of HICL and TRIG - - HICL Infrastructure (HICL)
