Company News
Meggitt lifts dividend despite drop in full-year profit
FTSE 250 engineer Meggitt surged on Tuesday as investors welcomed news that it has lifted its dividend, despite reporting a drop in full-year pre-tax profit amid a difficult oil and gas market.
Go-Ahead lowers FY expectations on GTR challenges
Transport operator Go-Ahead, which owns 65% of the Southern franchise through Govia Thameslink Railway (GTR), reported a drop in first-half pre-tax profit as operating profit from the rail division slumped due to strike action, and the company lowered its full-year expectations for the bus and rail divisions.
Moneysupermarket FY profit rises, announces £40m share buyback
Price comparison website Moneysupermarket. com posted a rise in full-year profit as revenue grew and it announced a £40m share buyback.
Derwent London ups final dividend, adds more on back of new deals
Derwent London has recommended a special dividend after it announced £327m of property disposals above book value that are expected to complete in coming weeks.
Ofcom to cut BT landline-only bills by £5 a month
The telecoms regulator has announced plans to force BT to cut bills for customers who only have a landline by at least £5 a month to protect the vulnerable and elderly.
Saga to take £4m hit on injury claim rate change
Saga said it would make a one-off £4m charge against 2016 pre-tax profits after the government cut the discount rate on personal injury damages payouts.
Boohoo lifts revenue growth expectations after strong trading
Online fashion retailer Boohoo. com said on Tuesday that revenue growth for the 12 months to 28 February is now likely to be around 50%, ahead of previous expectations thanks to strong trading since the last update in January.
Rentokil sets up Indian pest control joint venture
Rentokil Initial will merge into Indian pest control business into a new 57%-owned joint venture with privately owned PCI Pest Control that it said will be the largest provider in the subcontinent.
Anglo American's De Beers sees diamond sales value drop
De Beers Group, in which Anglo American holds a majority stake, saw sales drop in its second sales cycle of 2017.
Musk's SpaceX to fly tourists to the moon in 2018
SpaceX has announced an ambitious plan to launch a rocket carrying two tourists on a trip around the moon as early as 2018, despite the fact it has not yet tested the vehicle which will make the journey.
Bodycote sales down as oil, gas industry downturn hits
Heat treatment firm Bodycote said full year pre-tax profits rose to £91. 9m from £75m although sales fell as it felt the impact from the oil and gas industry downturn.
Greggs hits targets but remains cautious about UK consumer oulook
Greggs’ revenue for 2016 grew as the bakery transforms itself in a food-on-the-go-retailer, while the company was cautious about the consumer outlook in the UK.
AstraZeneca wins approval for adult type-2 diabetes treatment
AstraZeneca has been given a green light by US drug regulators for its once-daily treatment of type-2 diabetes, called Qtern.
Provident Financial FY profits jump 25%; warns on Brexit negatives
Non-standard lender Provident Financial said full year pre-tax profit jumped a hefty 25. 7% to £343. 9m, as it warned that any negative outcomes from Brexit could have a “significant impact on the group” this year.
Fresnillo more than doubles profits after record gold, silver production
Miner Fresnillo gave an upbeat outlook for this year after more than doubling its profits in 2016 as revenues surged due to record gold and silver production, high precious metals prices and the devaluation of the Mexican peso against the dollar.
GKN full-year profit up 12% as sales rise
FTSE 100 engineer GKN posted a 12% jump in full-year pre-tax profit as sales rose and the company expressed confidence over its prospects for 2017.
Croda full year profits lifted by weak pound
The weak pound helped boost full year pre-tax profits st specialty chemicals firm Croda to £288m from £275m.
Babcock trading in line; sees strong order book
Engineering services company Babcock said it had traded in line with expectations and the outlook for the full year remained unchanged.