The FTSE-100 listed, speciality chemicals company Croda announced third quarter results this morning, with group sales for the period up 5% and full year forecasts remain unchanged although the note highlights the adverse impact a strengthening Pound is having on the numbers. Management note the benefit of more stable customer inventories but add that the underlying trading environment remains challenging. Regardless, investors have reacted positively with the Croda share price up around 5% before 9am.
The IT provider has this morning published interim numbers for the six months to 30th September. Despite noting a 5% decrease in revenues, profits have remained stable owing to higher sales for Workday products. The company cautioned a couple of weeks ago over the challenging environment and that has been reiterated today but investors seem to have been placated by the fact that the growth is being seen in higher margin products and an upturn is being forecast beyond FY26. The Kainos share price has added almost 6% in the first hour of Monday’s trade.
Significant gains for exchange operator Aquis this morning after the company agreed terms with peer SIX of Switzerland to be acquired at a significant premium. This will allow SIX to expand its footprint and the numbers look compelling, Last year, Aquis delivered a £5.2m profit but the deal gives the company an enterprise valuation of just under £200m. The deal represents a 120% premium to Friday’s closing price and the Aquis share price has already reflected most of that with the stock advancing 112% at the open and holding those gains.
Headlines we expect tomorrow
Vodafone Interim Results
This time last year Group revenue €21.9bn, Operating profit €1.66bn, Interim dividend €04.5
AstraZeneca 9M Results
This time last year Total revenue $33.79bn, Core operating margin 35%, EPS $5.80
