Shares in Melrose jumped this morning after the specialist aerospace technology provider served up a trading update to the market. Supply chain woes have been impacting the performance of the wider aero sector for some time but today’s news of 7% growth over the July-October period, combined with reassurances over FY24 performance and a bullish outlook for the next financial year too left investors in an upbeat mood. The Melrose share price was almost 8% higher in early trade.
Scientific instruments specialist Judges published a trading update this morning which reiterated concerns over market headwinds flagged in the interim results from a couple of months ago. Whilst market headwinds are abating, there’s concern over the timing of new contract awards where the benefit now won’t land until FY25. As a result, full year EPS is now forecast to be between 270p and 300p, down by at least a fifth from the levels posted last year. Judges Scientific shares are trading 19% lower in early trade.
The AIM listed provider of creative audio visual solutions saw its share jump this morning off the back of news that it had completed the proof of concept phase of an installation for the Post Office. If the project is deemed a success, this will pave the way for a wider roll out that could include as many as 1500 venues, including more post offices as well as a range of travel agencies. Despite the early stage of this announcement, the stock has jumped sharply with MediaZest shares trading 17% higher shortly after the open.
Headlines we expect tomorrow
Imperial Brands Final Results
This time last year Revenue £32,475m, Operating profit £3,402m, Dividend 146.82p
Manolete Partners Interim Results
This time last year Revenues £11.2m, Gross profit £5m, eps 1.4p
