Gama Aviation [LSE: GMA]
Again, slim pickings to start the week in terms of London’s corporate news but Gama Aviation, one of the world’s largest business aviation service providers, has published full year results this morning. All the key metrics are ticking higher, although despite what is generally seen as being a growth economy at present fuelled by the ongoing equity market rally, profitability has only nudged higher ever so slightly. The market may be expecting more.
Miton Group [LSE: MGR]
AIM-quoted asset manager Miton Group is another reporting full year results today and the company seems to be finding good traction in the market. Assets under management have now passed the £4 billion mark and investors appear to be appreciating the company’s active investment strategies. Perhaps most importantly however is the fact that the business sis scaling well – additional revenues are being retained as profit, rather than eroded through marketing costs.
GKN [LSE: GKN]
The Melrose bid for GKN continues to drag on, with one more offer being formally tabled this morning. Melrose is left picking apart the proposed GKN defence, although fails to address the news from Airbus – a big client of GKN – that it wouldn’t look favourably on the takeover. The injection of £1 billion into the GKN pension to help bring down the deficit is clearly aimed at sweetening the deal but the numbers still seem stacked against this proceeding. Shares closed on Friday at 224p, whilst the deal on the table from Melrose values them at double that – 466p.