Market Report
GVC gaming revenues rise in Q1 and accelerate in Q2
Online gaming and sports betting operator GVC Holdings reported daily net gaming revenues rose 13% in the first quarter and that positive momentum has continued into the second.
Unite Group inks £56m deal for two student properties
Unite Students has agreed a deal to purchase two new student blocks of flats in Durham and Birmingham for £56m after selling a studio scheme in central London for £42m.
Fever-Tree co-founder pockets £73m from share sale
Charles Rolls, a non-executive director and one of the founders of drink mixers maker Fever-Tree has pocketed £73m from the sale of 4. 5m shares in the company, or a 3. 9% stake.
GCP Infrastructure posts modest first-half growth
GCP Infrastructure Investments released its half-yearly report for the six months to 31 March on Thursday - a period in which dividends of 3. 8p per share were paid or declared.
NAV, dividends keep rising at TR Property
TR Property Investment Trust posted its full year results for the 12 months to 31 March on Thursday, with its net asset value per share rising 5% to 352. 42p.
Electra Private Equity claims impressive first-half numbers
Electra Private Equity posted its unaudited results for the six months to 31 March on Thursday, reporting “continued strong performance” as its net asset value per share reached 5,544p, for a total return of 10% for the six-month period and 30% over the last twelve months.
Pets at Home FY sales lifted by vet practices
Pets at Home posted a jump in sales for the year to 30 March, helped in part by a solid contribution from its vet practices and new openings.
B&M racks up solid full-year results
General merchandise discount retailer B&M European Value Retail announced its preliminary results for the 52 weeks to 25 March on Thursday, with group revenues increasing 19. 4% to £2. 43bn.
Europe open: Stocks gain ahead of OPEC decision
European stockmarkets started the day higher, tracking overnight gains on Wall Street ahead of a decision later in the day from OPEC on whether to extend its output cut deal from last November.
Revenue rises at Inchcape as it acquires Estonia business
Independent multi-brand automotive distributor and retailer Inchcape announced on Thursday that it has entered into an agreement to acquire “premium Estonian automotive operations”, focused on “exclusive distribution” for BMW Group, from United Motors.
Qinetiq FY profit up as orders grow, dividend lifted
Qinetiq reported a rise in full-year profit as revenue and orders grew and the company lifted its dividend.
Aviva starts £300m share buyback
Aviva announced on Thursday that it will commence a share buy-back of its ordinary shares for up to a maximum consideration of £300m.
London open: Stocks little changed ahead of GDP data
London stocks were little changed in early trade as investors digested the latest Federal Reserve minutes and awaited first-quarter economic growth data for the UK.
United Utilities ups dividend as cash flow benefits from accounting rejig
North West water company United Utilities upped its dividend 1. 1% after a year where revenue and profit both leaked modestly lower but it remained confident of meeting its long-term targets.
Wizz Air reports record profit, sees no impact from Brexit
Central and Eastern European-focused low-cost airline Wizz Air reported record profit for the year to the end of March despite "challenging" conditions including low fares and increasing fuel prices.
Card Factory hails 'good start to year' as LFL sales grow
Card Factory hailed "a good start to the year" on Thursday, as it said first-quarter like-for-like store sales were at the upper end of its targeted range of 1% to 3% growth.
Tate & Lyle full-year profit up 85%, boosted by FX
Tate & Lyle reported an 85% jump in full-year pre-tax profit on Thursday, underpinned by a weaker pound and a solid performance from both divisions.
London pre-open: Stocks seen higher; Q1 GDP eyed
London stocks were set for a firmer open on Thursday, taking their cue from positive sessions in the US and Asia as investors digested the latest Federal Reserve minutes and awaited first-quarter economic growth data for the UK.
Thursday newspaper round-up: RBS, Opec, Glencore
The TUC has urged the next government to take action to boost pay as it warned that borrowing to top up wages was poised to breach the record levels hit just before the financial crisis of a decade ago. Frances O’Grady, the TUC general secretary, expressed alarm at the steady increase in unsecured debt – which excludes mortgages – and called for a higher minimum wage and an end to the tough pay curbs in the public sector. – Guardian.