DS Smith, up 2.2%, in its interim results for the six months ended 31 October 2023, announced that revenues dropped to £3,513.0m from £4,299.0m recorded in the same period previous year. Profit before tax narrowed to £268.0m from £315.0m. The Board has declared an interim dividend of 6.0p per share, which would be paid on 31 January 2024. Separately, the company announced that its CEO, Miles Roberts intends to retire from the board and his role as CEO. His formal notice period would start on 01 December 2024.
Johnson Matthey, up 3.5%, announced that it has entered into a partnership with Basecamp Research to accelerate biocatalysis technologies.
IQGeo Group, up 4.1%, announced that it has secured a $3m contract from a major US multi-utility to enhance field workflows across its electric and gas operations.
Aferian, unchanged at 10.3p, in its trading update for the year ended 30 November 2023, announced that it expects revenues of approximately $47-$48m and a positive adjusted EBITDA of around $1.6-$2.6m. As on at 30 November 2023, its net debt (including a shareholder loan of $1.4m) is anticipated to have reduced in the last six months to around $6.0m (31 May 2023: $12.9m). Moreover, the company would release its full year results for the year ended 30 November 2023 in March 2024.
SDI Group, down 23.2%, in its interim results for the six months ended 31 October 2023, announced that revenues rose to £32.22m from £31.72m recorded in the same period previous year. Profit before tax narrowed to £2.66m from £5.31m. Net debt stood at £13.2m as at 31 October 2023 compared to £13.3m at 30 April 2023 and £15.4m at 31 October 2022.
Frontier Developments, down 21.1%, announced a brand-new expansion for the ultimate zoo simulation, Planet Zoo. It would be available on PC through Steam on 13 December for a suggested retail price of £7.99/$9.99/€9.99.
CyanConnode Holdings, down 2.5%, announced that its registered address has changed to Suite 2, Ground Floor, The Jeffreys Building, St Johns Innovation Park, Cowley Road, Cambridge, CB4 0DS.
UK markets ended firmer last week, amid higher oil prices. On the macro front, UK’s services PMI expanded for the first time in four months in November, while the nation’s BRC like-for-like retail sales advanced more than estimated in November, driven by Black Friday sales. Additionally, UK’s Halifax house prices rose for a second straight month in November. Meanwhile, UK’s construction PMI contracted for a third consecutive month in November. The FTSE 100 index advanced 0.3% to settle at 7,554.5, while the FTSE AIM 100 index rose 1.3% to close at 3,476.8. Also, the FTSE techMARK 100 index gained 1.8% to end at 6,255.6.
US markets ended higher in the previous week, as robust US jobs report fuelled optimism about a soft landing for the economy. On the data front, the US ISM services PMI rose more than estimated in November, following a rise in business activity, while the nation’s the US initial jobless claims advanced less than anticipated in the week ended 01 December 2023. Moreover, US unemployment rate dropped to a 4-month low in November, while the nation’s Nonfarm payrolls rose more than forecasted in the same month. Meanwhile, the US factory orders fell more than expected in October, amid lower demand for durable goods and transportation equipment. Additionally, the US JOLTS job openings dropped to a 28-month low in October, while the nation’s private sector employment rose by less than anticipated in November. Moreover, the US goods and services trade deficit widened in October. The DJIA index marginally rose to end at 36,247.9, while the NASDAQ index gained 0.7% to close at 14,404.0.
