Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
First Group
There’s a note out from First Group LON:FGP this morning, stating that the transport operator has found a buyer for its US school bus service First Student, along with state-side First Transit. This has been on the cards for some time so the sale price of around £3.3bn may well impress. A lot of the money has been earmarked, although there’s a 30p per share special dividend coming the way of investors this year and a further disbursement could be made in due course.
Kore Potash
Kore Potash LON:KP2 found itself on the radar of our AIM column earlier in the month following some exaggerated volatility so this morning’s Q1 operations review – especially the next steps for the coming months – had the potential to be of interest. However, at first glance, it doesn’t appear that there’s much being brought to the table, suggesting investors may need to remain patient.
Photo-Me International
There’s an upbeat trading update out from Photo-Me International [LON:PHTM] this morning, covering the five months to March 31st. Thanks to a better-than-expected performance specifically in Japan where the company has a government ID card contract, full year expectations have been revised higher with revenues being upgraded from £175m to £190m-£200m, whilst pre-tax profit forecasts have been moved up from £9m to between £15m and £19m.
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