IN BRIEF: MS International stock down despite "encouraging" trading
MS International PLC - Doncaster, England-based defence equipment manufacturer - Publishes Chief Executive Officer Michael O'Connell's annual general meeting statement. He confirms that the company still hopes "an announcement would be made before the end of the summer" regarding the potential sale of its 'Petrol Station Superstructures and Branding' business. Says that once this process is complete, MS International "will address the interest that has been expressed in our 'Forgings' business." The firm also expects delivery of its recently-announced contract with "a Nato country" to start near the end of 2027.
O'Connell furthermore says that "our medium to long term prospects remain better than at any time in the company's history." He continues: "We have an encouraging pipeline but timing is everything in the defence industry and as previously discussed we have seen delays in placing defence orders.
"We have never witnessed such positive tailwinds, however, every potential customer has to navigate the political considerations associated with increasing defence budgets. We will, no doubt, hear more about this in the UK in the Chancellor's budget at the end of October."
Current stock price: 1,599.00 pence, down 3.7% on Wednesday afternoon in London
12-month change: up 31%
By Emma Curzon, Alliance News reporter
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