The FTSE-100 listed medical products and technologies company Convatec published a trading update this morning for the 10 months to 31st October, which noted the business expected to achieve double digit EPS growth both this year and next, whilst full year guidance has also been upgraded. Organic sales growth and margins are also improving, which has been sufficient to drive the Convatec share price an impressive 18% higher in early trade.
The London-listed Irish conglomerate DCC published interim results this morning, including news of a strategic shift. Operating profits were 4.7% higher, earnings per share were up 6.2% and the interim dividend was increased by 5%. However the more compelling point seems to have been the strategic shift which was also announced, with the company set to focus on the energy sector, simplifying operations and maximising shareholder value. A separate note outlines some of the details here including plans for asset disposals. The DCC share price was up as much as 17% shortly after the open before giving back a little of these gains.
Over in the FTSE-250, a trading update from Drax was published today which included news that full year EBITDA estimates are set to come in around the top end of analyst estimates. The note also highlighted that the UK’s continued ambition to decarbonise the power sector by 2030 is supportive for the company’s services which again seems to have been well received. At the time of writing, the Drax share price was up 7% on the day.
Headlines we expect tomorrow
Fuller Smith & Turner Interim Results
This time last year Revenue £188.8m, Pre-tax profit £14.5m, Dividend 6.63p
Flutter Trading Update (data released after New York close tonight)
This time last year Average monthly players 11.1m, Total revenue £2bn
