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Pennon set to provide interest in quiet end to week

South West Water owner Pennon was due to hold its annual meeting on Friday
Water jug and glass
Shareholders will be hoping the water supplier will keep up the flow of good news

Pennon Group plc (LON:PNN) and BATM Advanced Communications Limited (LON:BVC) were set to provide interest on a thin end to the week in the City.

South West Water owner Pennon was due to hold its annual meeting on a day otherwise devoid of scheduled company news.

Shareholders will be hoping the water supplier will keep up the flow of good news in any trading statement after reporting a good performance in annual results last month.

Pennon said then that its regulated water business was topping targets and earnings in its energy recovery business had risen significantly.

The group has eight working energy-from-waste plants and is building another three, in Glasgow and Dunbar in Scotland and Beddington in south London.

Meanwhile, shareholders in telecoms and biomedical group BATM will get a chance to hear more about the company's Chinese expansion plans when it gives an exclusive interview to Proactive Investors on Friday.

On Thursday, BATM said its Chinese subsidiary Adaltis had been valued at US$58mln after its local partner agreed to take a direct equity stake.

Adaltis manufactures medical diagnostics equipment and partner Egens Biotechnology will pay RMB20mln (US$3mln) for a 5.5% holding with an option to buy a further 10%.

Sino-Pharm, a Chinese medical and healthcare group, will distribute Adaltis’s HCV (Hepatitis C) diagnostic kit throughout the country.


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