News And Announcements
Boeing lifts guidance after strong second quarter
Aerospace company Boeing reported strong earnings and operating cash flow in the second quarter of 2017 and hiked its full year guidance.
RBS to offer £775m to encourage SMEs to switch to challenger banks
Royal Bank of Scotland will be required to set up a £425m innovation fund and a £350m scheme to encourage SMEs to switch their accounts, both administered independently with grants paid to challenger banks and fintech companies to boost competition in the sector.
Marston's says sales ahead of market
Pub and brewery operator Marston's said like-for-like sales in its destination and premium division were up 1. 3% in the 42 weeks to 22 July.
Unite Group lifts dividend as profits slide
Student accommodation manager and developer Unite Group reported a “strong” financial performance in its first half, with EPRA earnings up 12% to £40. 4m, or 18p per share.
Echo Energy upbeat after signing of technical evaluation agreement at Rio Salado
South and Central America-focussed upstream gas company Echo Energy announced the signature of a technical evaluation agreement (TEA) for the Rio Salado Block, onshore Bolivia on Wednesday.
GSK cuts full year earnings target and sets out new 2020 priorities
GlaxoSmithKline cut its full year guidance for earnings per share to 3-5% at constant exchange rates from the previous 5-7% after sales growth slowed in the second quarter, while a new strategic rejig will see a flat dividend next year.
Motorpoint performance continues in first quarter
Independent vehicle retailer Motorpoint saw the improved performance in the second half of its previous financial year continue into the first quarter, its shareholders heard on Wednesday, with the rate of sales growth maintained and the group’s gross margins remaining in line with expectations.
Animalcare trading in line as it changes accounting date
Veterinary medicine supplier Animalcare Group said trading for the year ended 30 June was in line with current market expectations, as it changed its accounting date to 31 December as part of the acquisition of Ecuphar, completed on 13 July.
Fevertree co-founder pockets £29m from share sale
Fevertree Drinks chief executive and co-founder, Tim Warrillow, has sold £29m worth of shares in the company.
Joules profits jump in first full year since floating on AIM
Profits at retailer Joules jumped in its first full year since floating on AIM as revenue rose thanks to strong international and online growth.
Mobile Streams celebrates subscriber numbers while revenue plummets
Emerging markets-focussed mobile media company Mobile Streams reported a quadrupling of active subscribers in its primary Indian market during its financial year on Wednesday, with more than 200,000 members as at 30 June.
Harworth makes progress at AMP and Waverley
Brownfield regeneration and property investment specialist Harworth Group signed a conditional 20-year lease with McLaren Automotive on a new 75,000 square foot bespoke unit at the Advanced Manufacturing Park, it announced on Wednesday.
Compass Q3 organic revenue up 3.9% on strong US performance
Global catering giant Compass said it continued to have a good year with a 3. 9% rise in third quarter organic revenue, boosted by a strong performance in North America.
Wednesday broker round-up
Acacia Mining: Credit Suisse downgrades to Neutral with a target price of 200p.
Jupiter reports 16% rise in assets on strong net inflows
Asset manager Jupiter Fund Management saw a 16% increase in its assets under management in the first half of 2017, the firm reported on Wednesday.
GKN H1 profits and revenue up but margins drop, aerospace unimpressive
Engineer GKN reported a jump in first-half profits on Wednesday as it said it has closed its UK defined pension scheme, but margins were down across the board and the performance of the aerospace division failed to impress.
Hammerson H1 profits boosted by record leasing activity
Retail property developer Hammerson reported a rise in first half pre-tax profits of £289. 7m from £167. 2m boosted by record leasing activity and positive capital value growth helped by high-growth markets in Ireland and premium outlets.
Metro Bank swings to profit as customer accounts pass one million
Challenger bank Metro reported its results for the first half of 2017 after the close on Tuesday, swinging to a profit for the first time since its stock market debut in March of last year.
Brewin Dolphin posts record third-quarter income
FTSE 250 wealth manager Brewin Dolphin reported record income for the third quarter on Wednesday as total funds rose 3. 7%.
Paragon trading 'strong' after solid third quarter
Specialist lender and banking group Paragon reported “strong” new business for the financial year-to-date on Wednesday, with a further £575. 7m in new lending completed in the third quarter, taking aggregate advances to £1. 44bn for the nine months since 1 October.