The lateral flow testing company Abingdon Health published interim results this morning which painted an upbeat outlook for the company. Revenues are accelerating as a result of recent contract wins coming to fruition and management believe that with the business set achieve revenue targets of £8.6m in FY25 the become cashflow positive in FY26, no further funding rounds will now be required. There has however been an increase in the adjusted EBITDA loss on the day, expanding to £1.9m against £1.2m so it’s not all positive news and in early trade the Abingdon Health share price was down more than 9%.
The disruptive advertising play S4 Capital issued full year results this morning and despite an air of caution surrounding the update, the market reaction has been positive. Tariff uncertainty and the shift to adoption of more AI based tools are both seen as potential detractors for the business and although billings were up 8%, significant goodwill impairments have tipped the company to an operating loss of just over £300m. A 1p per share dividend is planned and although the near term position remains challenging, over the longer term, there’s an expectation growth will outperform markets and EBITA margins will return. The S4 Capital share price was as much as 10% higher shortly after the open before giving back some of those gains.
A modest bounce for the Wood Group valuation this morning with news that the takeover deadline which had been set for Sidara has been extended by a further four weeks. The share price had been trending lower over the last few days, arguably with fears that the deal would collapse weighing. However this morning’s update saw the Wood Group share price add more than 10% just after the bell, before easing to gains of 7% as the session progressed.
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