Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Results from supermarket Morrisons this morning have confirmed a third consecutive year of sales growth for the company. Shareholders are being rewarded with a special dividend, taking the payout for the year to 12.6p which equates to a yield of over 5%. Faster than expected progress has also been made in the wholesale supply partnership with McColl’s, which again is likely to give investors cause for cheer.
Funeral operator Dignity has full year numbers out today, showing the impact of the company’s pricing reforms. This is helping grow market share, but the unbundling of services means significantly lower prices, with profits falling to match. Earnings per share have fallen by a third, although this was fractionally better than had been expected, whilst revenues came in around 1% below consensus forecasts.
Balfour Beatty, the infrastructure construction group, posted full year results this morning. Again there’s a good set of numbers on offer, with profits up 10%, earnings per share ahead of analyst forecasts and an improved order book. Shareholders are being handed a 33% increase in the full year dividend as a result.