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Highlights
- 88 Energy’s profits stood at AUD445,446 in H1 2021 compared to AUD4.020 million loss in H1 ended 30 June 2020.
- Informa posted strong revenues of £688.9 million in H1 2021, as against £814.4 million in same period last year.
Three FTSE stocks, 88 Energy Limited (LON: 88E), Volex Plc (LON:VLX) and Informa Plc (LON:INF), were making news on Monday following key announcements. 88 Energy and Volex seems to be in a rally mood since the opening of the trade, while Informa registered high cash conversion underpinned by the strong rate of subscription renewals, increase in bookings and low levels of refunds.
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Let us take a closer look at why these stocks are trending today -
88 Energy Limited (LON: 88E)
88 Energy is an oil exploration company spread across 440,000 acres in the Alaskan region. In January 2021, 88 Energy through wholly owned subsidiary Emerald House LLC, inked a Sale and Purchase Agreement with Renaissance Umiat LLC and Malamute Energy to take over the Umiat Oil Field.
For the half-year period ended 30 June 2021, 88 Energy’s profits stood at AUD445,446 compared to AUD4.020 million loss in H1 ended 30 June 2020. As of 30 June 2021, the Group cash on hand was AUD14.762 million compared to AUD14,845 million as of 31 December 2020.
As of 16 August 2021, 88 Energy’s shares were trading at GBX 2.55, up by 7.82 per cent as of 8.01 AM and gave one year returns of 881.17 per cent. The market cap stood at £320.33 million.
Volex Plc (LON:VLX)
Volex is a company engaged in manufacturing and supplying specialist performance-critical application and power products. In February 2021, it completed the takeover of DE-KA, an appliance power cord supplier.
Volex’s annual revenues for the financial year ended 4 April 2021 was estimated at $443.3 million compared to $391.4 million in FY 2020, representing an increase of 13.3 per cent. Its underlying profit before tax increased to $41.6 million in FY 2021, up by 36.8 per cent year-on-year compared to $30.4 million in FY 2020.
In its annual results for the year ended 4 April 2021, the board proposed a final dividend of 2.2 pence per ordinary share payable on 6 August 2021.
As of 16 August 2021, Volex’s shares were trading at GBX 367.00, up by 2.80 per cent as of 8:01 AM, and gave one year returns of 135.71 per cent. The market cap of the stood at £566.63 million.
Informa Plc (LON:INF)
FTSE 100 listed Informa is a UK-based business intelligence, publishing, advanced learning, and exhibitions company.
In H1, ended 30 June 2021, Informa posted revenues of £688.9 million compared to £814.4 million in same period last year. The adjusted operating profit of the company stood at £69.2 million compared to £118.6 million in H1 2020. The company registered high cash conversion underpinned by an increase in bookings, strong subscription renewal rate, and low levels of refunds, thus increasing cash flow to £134.1 million in H1 2021 compared to £71.3 million in H1 2020.
As of 16 August 2021, Informa’s shares were trading at GBX 548.20, down by 0.69 per cent as of 8:03 AM and gave one year return of 33.32 per cent. The market cap of the company stood at £8,297.18 million.
