Full year results from the African mobile phone operator Airtel Africa were published this morning. Despite meaningful growth in customer numbers, especially in terms of mobile payments, profits fell. Currency headwinds were cited as a driver, but management also noted a need to improve margin performance. Shares in the FTSE-100 company were more than 7% lower as a result just over an hour into the day.
An AGM trading statement from packaging specialists Roninson saw the stock surge in early trade on Monday. Shares added 22% in the first hour after management noted full year profits were in track to beat both the 2023 number and market expectations. Net debt has increased by around 10% but investors clearly remain confident over the outlook.
A trading update from FTSE-250 listed Harbour Energy also received an upbeat reception this morning. The news was upbeat if not exactly remarkable and sees the share price continue to extend the up trend that has been forming over the last couple of months. Shares had traded as much as 6% higher before giving back a little of those gains.
