Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Greene King
There’s a trading statement out from Greene King this morning covering the last year’s operations. Sales are up 2.9% which puts the company ahead of the broader market, whilst good weather over the Easter weekend served up a bumper performance for the group, too. Full results aren’t due until June 27th but from this note it would appear that there’s little out there which ought to concern investors.
BP
Better than expected quarterly results from BP have been published, with a profit of $2.4 billion having been recorded, slightly ahead of the $2.3 billion forecast. Rising oil prices in recent months have without much doubt been helping here and shareholders will receive a 2.5% increase in dividends for the period as a result.
Whitbread
Full year results from Whitbread are out today, with the company showing a 2.1% increase in revenue for the period. The disposal of Costa Coffee had a meaningful impact on statutory profits and the company is now focused on the hotel business. There’s a pipeline of 20,000 bedrooms now planned, with 7,000 to be added in Germany alone. Dividends have been trimmed slightly, but with shareholders set to receive up to £2 billion from the Costa sale, this is unlikely to cause much concern.
