Optimism from Biome that the challenges faced by the bioplastics industry in H1 are abating, but with revenues down by more than a third and a similar decline in gross profits being recorded, investors are being asked for a lot of confidence off the back of this morning’s publication of interim results. The board does anticipate improved operational performance during the remainder of the year, with momentum being sustained into 2025. The Biome share price was down 14% before 8.30am.
CleanTech Lithium issued an update this morning with regard to its pending listing on the ASX in Australia. It is reported that owing to ‘procedural matters’ the approval process has been extended. Management are working with local lawyers, advisers and the exchange to resolve matters here but the news seems unlikely to receive a warm welcome. Shortly after the open and the Cleantech Lithium share price is down by 15%.
The wealth manager Investec published a pre-close trading statement covering the H1 period which concludes at the end of the month. Expectations are that the operating profit for the period will be up by between 7% and 13% with trading being reported as in line with full year guidance. However total customer deposits have shown limited growth over the April-August period and in a falling interest rate environment. In early trade, the Investec share price was down by just over 2%.
Headlines we expect on Monday
OXB (formerly Oxford Biomedica) Interim Results
This time last year revenue £43.1m, Operating loss £50.7m, Cash £129.4m
