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Home » Regular Columns » Three Quick Facts » Three Quick Facts: Mitie Group, Meggitt and Dignity

Three things you need to know in the financial markets this morning from investment writer, Tony Cross

Mitie Group

Facilities managers Mitie Group have published a pre-close trading statement today ahead of full year results and there appears to be little cause for concern. Revenue growth is tipped to rise by 7% or so, whilst debts are falling and the company expects to remain comfortably within its banking covenants. The company has taken a conscious decision to back away from low-value contracts and whilst this brings with it some one-off costs, it ought to prove positive for shareholders in the longer term.

Meggitt

Specialist engineering group Meggitt has announced a contract win, worth up to $37million  this morning. The deal is with General Dynamics Land Systems, but will ultimately see the company providing technology for US Army Abrams tanks.

Dignity

The Competition and Markets Authority has this morning announced it is to investigate the funerals sector in the UK, largely over pricing. Dignity, the UK’s biggest funeral operator which is listed on the stock market, revised its pricing a year ago and shares fell sharply as a result. Today’s news could well serve to justify its new strategy.

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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