Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
BP [LON:BP] has issued full year results this morning, in the shape of a 36 page report. Attempting to skim through that is no mean feat, but at first pass, replacement cost profit for both Q4 and the full year have come in lower, although shareholders are being placated with a 2.4% increase in dividends. CapEx has been disciplined so is forecast to come in at the bottom end of expectations, whilst the company continues to free up cash through its disposals program. There’s plenty more detail to wade through here, however.
RM [LON:RM], the provider of technology to the education sector, has issued its full year results today. Revenues have nudged 1% higher, with a strong performance being noted in the company’s technology divisions. This has helped offset challenges faced by the resources division, whilst acquisitions overseas have also bolstered performance. It’s being proposed that a 5% increase in the full year dividend is paid.
Micro Focus International
Keeping with technology, full year results from Micro Focus International [LON:MCRO] are out today. Revenues may be down 7.3% but earnings per share have improved by 4.5%. That said, the company remains unimpressed with the CEO noting the financial performance has fallen short of expectations. Revenues have been impacted by volatile macroeconomic conditions and customers changing their buying behaviour. The company also continued to face challenges in the wake of its acquisition of the Hewlett Packard Enterprise Software business. A trading update issued last summer did warn of tough times ahead with shares losing almost a third of their value off the back of this – today’s price action will be worth watching.
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