Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Waste management firm Biffa has published full year results this morning. Modest revenue growth has been recorded whilst operating profit margins have been maintained at the level seen last year. As a result, shareholders are being rewarded with a 7.5% increase in the dividend. Demands for society to be more responsible when it comes to recycling refuse suggest that the company could be well positioned for growth in the longer term, too.
Card Factory has published a Q1 trading statement this morning, reflecting a picture of ongoing expansion with new store openings helping drive a 6.4% increase in total sales. To make these advances despite the uncertain consumer outlook and against the falling popularity of the high street is creditable although the move into the online market again has the potential to deflect some of the pain here.
May passenger figures from Ryanair have been posted today, showing impressive growth of 13% from a year ago. The load factor is maintained at 96% but as always these figures give no indication of the financials. Rising oil prices and a competitive market have been punishing the sector of late but we may have to wait for Q1 financials at the end of July before understanding more about this.