FTSE-100 listed Diploma saw its shares jump in early trade on Monday as investors reacted to news of half year results. A series of acquisitions had helped bolster profits and the solid momentum built in the first half is reported as being maintained. That in turn has resulted in full year guidance being upgraded as well with. both revenues and margins tipped to rise. The stock was trading more than 7% higher shortly after the open although gains did then moderate a little.
Interim results from FTSE-250 Victrex were less well received by the market, with shares sliding by more than 3% to sit at the foot of the board in early trade. The polymer production company reported an 11% decline in production, a 14% drop in revenues and a 4% slide in average selling prices, whilst adding that the weakness had been forecast. However, improvements in the second half are unlikely to result in a material improvement in full year profitability, with any uptick here likely having to wait until FY25.
A trading update from Zoo Digital also offered investors cause for cheer this morning, with management noting continued improvements in revenues, adding that Q1 ’25 income is expected to be 36% up on the preceding quarter which ran to 31st March. FY24 should at least meet market expectations and the company is confident that the wide-reaching industry disruption seen in the past 12 months is now behind them. Shares sat 15% higher just over an hour into the day.
Headlines we expect on Tuesday
Vodafone Final Results
This time last year Group revenue €45,706m, Operating profit €14,296, Dividend 9c
Angling Direct Final Results
This time last year Revenues £74.1m, Gross margin 34.8%, Pre-tax profit £0.7m
