Oxford Biomedica Leads Healthcare Rally as STV Group Sounds Profit Warning

📈 Today's Key Themes

The pre-market landscape presents a stark contrast between sectors, with healthcare companies reporting robust growth while media firms face significant headwinds. Oxford Biomedica (OXB) and OptiBiotix Health (OPTI) lead the healthcare rally with impressive revenue growth, while STV Group's (STVG) profit warning casts a shadow over the media sector. Meanwhile, strategic moves, including Hansa Investment Company's (HAN) merger and FirstGroup's (FGP) acquisition, signal ongoing M&A activity. This divergence in sector performance sets the stage for a potentially volatile market opening, with investors likely to scrutinize company resilience in the face of challenging economic conditions.

💡 Company Updates

Trading Updates

Oxford Biomedica (#OXB) delivered a stellar performance in its half-year trading update, with revenues expected to surge by 38-44% year-over-year to £70-73 million in H1 2025. The biotechnology firm reaffirmed its full-year 2025 revenue guidance of £160-170 million, underpinned by a robust order book with over £165 million of 2025 revenues already contracted. The company's sentiment score is very good, reflecting its strong execution and positive outlook.

OptiBiotix Health (#OPTI) reported impressive growth in its trading update, with gross revenue up 102% to £557K and gross profit soaring by 173% to £303K. The company's gross profit margin increased to 54%, and it added 30 new customers in Asia. The very good sentiment score reflects OptiBiotix's strong financial performance and successful expansion into new markets.

EKF Diagnostics (#EKF) announced improved earnings and cash generation in its H1 2025 trading update. The company reported flat year-on-year revenues of £25.2m but saw a 2% growth in constant currency. Gross margins improved to 50% from 48% in H1 2024, and adjusted EBITDA showed continued growth, up 9% in constant currency. The good sentiment score reflects EKF's resilience and improved profitability despite challenging market conditions.

STV Group (#STVG) issued a profit warning in its trading update, forecasting a material decline in full-year revenue and profit. The company expects group revenue for the full year to be in the range of £165m to £180m at an adjusted operating margin of c.7%. The bad sentiment score reflects the significant challenges STV Group faces in the weakening advertising and commissioning markets.

dotdigital Group (#DOTD) reported strong revenue growth of 6% (7% in constant currency) to £83.9m in its FY25 trading update. However, the company noted persistent challenging market conditions during the period. The average revenue per customer increased by 8% to £1,923 per month, and 94% of group revenue is recurring or repeating. Despite the growth, the bad sentiment score reflects concerns about the challenging operating environment and its potential impact on future growth prospects.

Half-Year Results

Science Group (#SAG) reported strong half-year results, with profit before tax increasing to £32.2m, including a £24.0m gain from its Ricardo investment. Adjusted Operating Profit rose to £11.3m on revenue of £57.2m. The group's cash position strengthened to £82.0m with net funds of £70.3m. The good sentiment score reflects the company's solid financial performance and strong cash position, despite challenges in the Professional Services segment.

🎯 Leading Developments

Strategic Mergers and Acquisitions

Hansa Investment Company (#HAN) announced a recommended all-share combination with Ocean Wilsons, creating a differentiated investment platform with over £900 million in total net assets. The combined entity will have a diversified global portfolio of investment funds, equities, and private assets. This strategic move is expected to deliver cost efficiencies and a more competitive fee structure, benefiting shareholders in the long term. Read more

FirstGroup (#FGP) has acquired Tetley's Coaches, a Leeds-based coach and bus operator, expanding its adjacent services footprint in the West Yorkshire region. Tetley's Coaches reported revenues of £5.3m and EBIT of £1.4m for the 12 months to 31 March 2024. This acquisition complements FirstGroup's existing York Pullman and Lakeside businesses, strengthening its position in the region. Read more

Corporate Actions and Investments

Everyman Media Group (#EMAN) delivered a strong first-half performance, with admissions up 15% to 2.2m and revenue increasing by 21% to £56.5m. EBITDA grew by 33% to £8.2m, while net debt reduced by 6.2% to £24.2m. The company's very good sentiment score reflects its ability to thrive despite challenging economic conditions. Read more

Kromek Group (#KMK) received a $5.0m payment under its Enablement Agreement with Siemens Healthineers, bringing the total received to date to $30.0m. This payment follows successful delivery of milestones and strengthens Kromek's balance sheet. The company expects a further $7.5m over the next 3.5 years, providing visibility on future revenue. Read more

📅 Week Ahead

29 July 2025: AstraZeneca PLC (#AZN) Announcement of H1 and Q2 2025 results
29 July 2025: Barclays PLC (#BARC) 2025 Interim Results Announcement
30 July 2025: Banco Santander, S.A. (#BNC) First half 2025 financial results announcement
30 July 2025: Jardine Matheson Holdings Limited (#JAR) Q2 2025 Results Announcement
31 July 2025: Shell plc (#SHEL) Q2 2025 results publication
31 July 2025: Rolls-Royce Holdings plc (#RR.) 2025 Half Year results announcement
31 July 2025: Lloyds Banking Group plc (#LLOY) 2025 Half-Year Results
31 July 2025: Haleon plc (#HLN) 2025 Half Year Results
31 July 2025: Compagnie de Saint-Gobain S.A. (#COD) First-half 2025 results
31 July 2025: Spire Healthcare Group plc (#SPI) Announcement of interim results for the six-month period ending 30 June 2025

View full calendar

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