Market Pulse
Pendragon grows profit and physical footprint in Q1
Motor dealer franchise group Pendragon reported an 8. 7% rise in underlying profit before tax in its first quarter on Thursday, with like-for-like gross profit increasing across all main vehicle sectors of aftersales, used and new.
Berendsen delivers clean set of first-quarter results
First quarter trading at laundry services group Berendsen generated a 3. 6% increase in underlying revenues, in line with internal expectations, with favourable currency moves lifting this to 6% at the top line.
Wood Group wins $500m Azerbaijan contract with BP
Wood Group has won a $500m contract to provide engineering, procurement and construction management services (EPCM) for eight offshore oil and gas facilities for BP in Azerbaijan.
Serco wins Australian icebreaker ship contract
Serco has won a £160m contract to design, build and operate the new icebreaker research and supply vessel for the Australian Antarctic mission.
Victrex resolves issues with Federal Trade Commission
High-performance polymer producer Victrex announced on Thursday that it had entered into a consent decree with the US Federal Trade Commission, concerning an inquiry by the commission into the sale and marketing of implantable grade PEEK polymer in the US by its subsidiaries Invibio Inc and Invibio Ltd.
Howden Joinery says trading in line so far
Howden Joinery reported a jump in revenue as it said its performance so far this year has been in line with its expectations.
Aggreko first-quarter revenue down 17%, maintains guidance
FTSE 250 temporary power provider Aggreko reported a drop in first-quarter revenue amid challenging markets but maintained its guidance for the year.
Revenue and debt grows sizeably at WPP
Advertising and public relations group WPP reported billings of £11. 922bn in its first quarter on Thursday - an increase of 8. 3%, or 6. 7% at constant currencies.
London pre-open: Stocks seen lower as investors digest Fed and BoJ
London stocks were expected to open a little lower on Thursday as investors digested the latest policy announcements from the Federal Reserve and Bank of Japan.
Thursday newspaper round-up: OECD, Philip Green, FTSE pay
Britain’s biggest advertisers have ramped up their fight to introduce greater transparency into how their media budgets are spent by marketing services groups such as WPP, Publicis and Omnicom. The Incorporated Society of British Advertisers, a trade body whose members spend about £10bn a year on marketing communications, warned that media agencies have increasingly been generating profits through controversial business practices that are not visible to their clients.