Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Full year numbers from construction firm Galliford Try [LON:GFRD] have been published today, with the company posting a modest decline in revenues and profits. The company suggests there’s little amiss with the numbers, although with numbers having fallen short of analyst expectations, more critically it could encourage investors to back the takeover approach which was made once again by Bovis yesterday.
Sustainable waste management company Biffa [LON:BIFF] has published a short pre-close trading update today ahead of interim results due at the end of the month. Trading is reported as being in line with expectations, whilst the full year outlook is unchanged, too. Further acquisitions to fuel growth are expected to be seen, along with the construction of its own assets including a new plastic bottle recycling facility.
Outsourcer Serco [LON:SRP] has issued a statement this morning regarding the provision of its offshore immigration detention facilities for the Australian government. A two year contract extension has been awarded, bringing further cheer for investors in the firm. Serco’s shares have risen almost 50% since the start of the year and are rapidly closing in on levels not seen since 2014.