Friday’s annual general meeting for Avon Protection PLC (LSE:AVON) is likely to be a sobering affair.
Having conducted an in-depth strategic review of its armour business, it concluded last month an orderly wind-down of the body and flat armour business is in the best interest of stakeholders.
The group already warned this year will be one of transition. Supply chain issues have been a concern and the business has been more adversely affected by the pandemic than might be expected of a company specialising in respiratory protection.
ITM Power PLC (AIM:ITM), the manufacturer of integrated hydrogen energy systems, is one of those intriguing “jam tomorrow” companies.
Valued at £1.9bn it has never made a profit and its turnover is minuscule – akin to many tech unicorns with similarly large valuations.
As such, the actual numbers in Friday’s interims are likely to be of little concern to investors although for the record revenue is likely to be around £4.1mln and the underlying loss around £13mln.
Cash burn said to be £12mln in the six months to the end of October, is less of a concern since the company raised £232mln in November.
The focus will be on full-year guidance of power generation, which currently stands at 33-50 megawatts (MW) and the growth in its tendering pipeline.
Significant announcements expected
Interims: ITM Power PLC (AIM:ITM) (ITM Power PLC (AIM:ITM))
AGMs: Avon Protection PLC (LSE:AVON), Mosman Oil & Gas, Hollywood Bowl PLC, Tertiary Minerals PLC (AIM:TYM), Treatt PLC
Economic data: CFTC GBP NC Net Positions (UK), Personal Consumption Expenditures (US)