AIM-listed Gelion had a good start to the day having announced that it had signed a joint development agreement with Glencore. As the note details, the deal aims to accelerate the commercialisation of Gelion’s next generation battery technology by leveraging Glencore’s expertise in battery materials and recycling. There’s also scope to consider future commercial agreements too. Gelion’s shares had traded up by more than a third shortly after the bell before seeing some of those gains diminished.
Shares in the household appliance retailer were buoyed this morning following the publication of full year results. Revenues were down 9% but that was attributed to moving away from non-core lines of business. As a result, gross margins improved by 2.5 percentage points and profits exceeded forecasts. Management are also upbeat on the outlook, eyeing double digit revenue growth in the year ahead, Shares were as much as 5% higher shortly after the bell before giving back around half of the gains by 9am.
Quantum Blockchain Technologies
Full year results from Quantum Blockchain were issued today. Whilst the business remains loss making, the quantum here has been reduced by almost 20% year on year and product innovation remains very much the core business objective, including moving into the SaaS model for Bitcoin miners. The share price has been oscillating in early trade and at one point sat around 4% lower but the losses aren’t proving sustainable for now.
Headlines we expect tomorrow
Currys Final Results
This time last year Group revenue £9.5bn, Adjusted pre-tax profit £119m, Debt £97m
Halfords Final Results
This time last year Group revenue £1.6bn, Pre tax profit £43.5m, FY dividend 10p
