In a quiet end to the week for corporate filings, JD Wetherspoon was the notable exception, publishing full year numbers. Despite some cause for cheer with profits up 10% and the theme of market outperformance continuing, inflationary pressures are still weighing and this is hampering the outlook. Despite the fact the full year dividend will be left unchanged, at least some investors have been left looking for an exit this morning. The JD Wetherspoon share price was down by as much as 6% in early trade before making something of a recovery.
A new IPO for London – The Beauty Tech Group – was seen today, with the £300m provider of at-home beauty devices which use lights and lasers making its market debut. The offer priced at 271p, squarely in the middle of the previously guided 251p-291p valuation range. By 8.30am the Beauty Tech share price had advanced a further 5%.
The microcap oil exploration company announced yesterday morning that the trading suspension which had been in place since the start of September was to be lifted. The trading halt had been initiated owing to an ongoing transaction which the directors of the business have now decided to walk away from. The Wildcat share price made strong gains on the back of this announcement on Thursday and added a further 50% in the first hour of Friday’s trade.
Most read news on Investegate this morning
Preliminary Results - - Wetherspoon (J.D.) (JDW)
Update on Raglan Project site visit - - ECR Minerals (ECR)
Final Results - - Thorpe (F.W.) (TFW)
