A half year update from food producers Cranswick was sufficient to fuel appetite for the stock this morning. Trading in Q2 has been stronger than expected and management are now revising full year forecasts towards the upper end of the previously stated range. Investment continues apace for the business too, but investors are clearly seeing the upside potential here. Cranswick’s share price is up almost 6% in early trade, leading the FTSE-250 as a result.
The leading developer of clean energy technologies published interim results this morning noting a strong 144% increase in revenues, record order intake and gross profits up by more than 200%. Further cost cuts are planned and upgraded revenue guidance for the full year has been reconfirmed, based on the value of contracts already secured. The company is well on the track to commercialisation and the Ceres Power share price was around 16% higher just after 9am.
The insurance giant is leading the FTSE-100 this morning and although there’s a news update out regarding a strategic partnership with Bank Syariah Indonesia, today’s gains cap a strong week for the company’s share price. However, arguably it’s that economic stimulus news out of China that remains the key driver here, with today’s update looking to little more than a footnote. The stock is up by more than 12% on the week so far and the Prudential share price is around 4% higher an hour into Friday’s trade.
Headlines we expect on Monday
Frenkel Topping Interim Results
This time last year Revenue £16m, Gross profit £6.6m, AUM £1261m
Tinybuild Interim Results
This time last year Revenue $23.3m, Operating loss $4.7m, Net cash $14.3m
