Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Cineworld, the second largest cinema operator in the world, has published full year results today. Ticket sales are up around 5% and still account for around 60% of total income, but ancillary sales of popcorn and the like have accelerated slightly faster. Advertising sales are also doing well, and the geographic diversification of the business is again serving shareholders well, given the tendency for spikes in attendance to make comparatives tough to beat on occasion.
Balfour Beatty reported solid results yesterday, although the response from shares was somewhat turgid. However news this morning that the company is the preferred bidder for a £1.5 billion, 10 year contract with Network Rail may do more to lift spirits. Confirmation of the deal is expected in the second quarter, with work starting before the year end.
Half year numbers from DFS are out this morning, showing almost a 30% increase in revenues. Despite adverse trading conditions, the company continues to build market share and this is bolstering profitability, too. Management expect performance for the full year to be as previously stated.