Across The Markets: Greggs, Tate & Lyle, Pulsar Helium

Greggs

A third quarter trading update from high street food chain Greggs helped extend the recent run of gains for the company’s share price. After a hot start to the summer which served to depress sales, August and September evidently performed somewhat better, with revenues coming in 6.1% higher for the 13 week period, On top of this, inflationary pressures are seen as easing and despite the challenging consumer backdrop, management believe full year targets are still on track. The Greggs share price was up almost 6% in the first few minutes of trade.

Tate & Lyle

The food ingredient manufacturer Tate & Lyle issued a pre-close trading statement ahead of publishing half year results at the start of next month. The tone was far from upbeat with management cautioning of a slowing market dragging both on sales and profitability. The full year outlook has been trimmed and the Tate & Lyle share price was down 10% shortly after the open.

Pulsar Helium

The primary helium exploration and development company has issued a flurry of drilling updates in recent weeks which have largely failed to excite the market but today’s news of a significant helium-3 discovery at its Topaz Project in Minnesota has certainly piqued investor interest. Multi-well drilling is due to start imminently to better understand the reservoir it is tapping into but success here could advance Pulsar’s strategy to become a leading helium producer in response to growing global demand. The Pulsar share price was 28% higher in early trade.

Most read news on Investegate this morning

Q3 Trading Update – – Greggs (GRG)

Investor and analyst update and trading statement – – Taylor Wimpey (TW.)

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