Three things you need to know in the financial markets this morning from investment writer, Tony Cross
AO World has published a short statement this morning, saying that their CEO is to step down with immediate effect, to be replaced by the company’s founder John Roberts. Although the note itself is full of glowing endorsements all round, the news has the potential to unsettle shares at the open.
Casino and bingo operator Rank Group has published half year results this morning, which show the company is in line with full year expectations but still has some cause for concern. Digital revenues jumped higher, but last summer’s weather hampered attendance at physical venues. This has combined to deliver a 23% fall in adjusted EPS for the period, although the dividend is to be maintained.
Q3 results are out from BT Group this morning, showing a faster than expected decline in the company’s fixed line voice business as customers move towards mobile and IP. That has lead to a modest dip in revenues, although profitability is soaring and the company remains popular with consumers, having notched up 10 successive quarters of improvement for its ‘Net Promoter Score’. The company now expects EBITDA for the full year to be towards the upper end of previously issued guidance.