Three things you need to know in the financial markets this morning from investment writer, Tony Cross
There’s a half-year update from Johnston Press [LON:JPR] out this morning and whilst there’s some cause for applause here, the overall story seems to be the same. Revenues from sales of printed papers are holding about steady, but this is a consequence of price increases offsetting declining circulation. Digital audiences grew to a record 27.3 million average unique viewers a month, but changes by Google and Facebook served to depress the corresponding advertising revenues. The company’s acquisition of the i newspaper still looks to have been an astute move, but many investors will presumably be left asking ‘what next?’
An Aston Martin may be out of reach for many, but it looks as if we’ll all soon have the opportunity to own a slice of the company. There’s a statement out this morning which includes first half results and news of an intention to list shares [LON:AML] on the London Stock Exchange. It plans to publish a full prospectus in the next three weeks and it appears that proceeds from the sale would be used to significantly increase production rates.
Half year results are also out from Petrofac [LON:PFC], the provider of facilities solutions to the petrochemicals industry, this morning. The company saw revenues fall around 10% from a year earlier, but profits jumped – something which should probably be expected by a buoyant underlying market. The inclusion of a string of exceptional items acted as a drag on performance, too, but the recovery in oil prices bodes well for the near term fortunes of the business.