Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Full year numbers from Auto Trader are out this morning and the company has performed well. Pre-tax profits up 15%, revenues up 8% and shareholders being rewarded with a 13% increase in the dividend. However whilst the company is comfortable that it can meet growth expectations for the current year, these aren’t seen as being quite as impressive as the period which has just been reported on.
A trading update form the transport operator Go-Ahead has been published today. They’ve made an upward revision to performance in the London and international divisions of the company, following the awarding of some new contracts. Some volume growth has come at the expense of lower fares so yields have suffered but profitability for the second half of the year is expected to be in line with the 2018 figure.
Full year numbers from facilities managers MITIE Group are out this morning, with revenues up 9.4% year on year. The company has been through something of a transformation but appears to have fared well, with profits rising and the dividend being maintained. Modest organic revenue growth plus efficiency gains are expected to be sufficient to continue driving profit growth in the medium term.