Full year numbers from Ocado this morning have shown little to surprise the market. The company has made some good progress this year in signing more commercial partners to license its technology, but critically investors will want to see more progress here. Admittedly, this isn’t an easy sell, but it’s arguably where the best rewards will lie. The switch to ordering from mobile phones is being seen as driving the average order size down a little, although overall revenues are climbing. However news of a fresh share sale to help the business grow is likely to ensure this news receives a muted reception.
A few years back, BP may have championed an idea that its initials stood for ‘beyond petroleum’ but this morning’s results show how the company’s fortunes remain wedded to the price of oil. Profits for the quarter are up by an impressive 139% to $2.1 billion, allowing the company to maintain its dividend. Shares still sit below the level they traded at before the Gulf of Mexico disaster, but this news has the potential to soften some of the blow from the current market turmoil.
Full year numbers from RM Group, a big provider which is perhaps best known as a source of computers for schools across the UK. Despite squeezed government spending, the company has been able to put in a solid year of growth, with impressive results being seen by its resources division, which provides physical curriculum resources ranging from text books to craft supplies. Profits are up and investors will be rewarded with a 10% dividend increase, too.
