Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Inmarsat
Inmarsat, the legacy satellite phone company, published full year results today and these continue to show a pattern of steady growth. The real gains are being made when it comes to selling internet services to airlines, with this division’s revenues up 40%, whilst increased sales to the US government are also helping the company’s bottom line. Dividend policy was reset last year so there should be no surprises in the reduction here.
Aviva
Another insurer reporting today and that’s Aviva, now under the stewardship of the newly appointed CEO, Maurice Tulloch. The numbers are better than expected with earnings per share around 4% above forecasts and the dividend just a fraction above consensus estimates, too.
Countrywide
The country’s largest property group Countrywide reported this morning too. After a torrid time, the numbers are said to be in line with the board’s expectations, although revenues missed consensus estimates by a shade. The company is undertaking a significant restructuring right now so that’s come with some hefty impairment charges, which are dragging on performance too. That said, there’s confidence that progress is being made.
