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Home » UK Shares » Three Quick Facts » Three Quick Facts: Reach, Belluscura and Virgin Money UK

Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. Reach operating profits are up by 25%

There are half year numbers out from news publishing group Reach Plc [LON:RCH] this morning, which might just give investors some cause for cheer. Revenues added 4% and on an adjusted basis, operating profits are up by 25% and user registrations are up by 150% on the year. Expectations are that this will hit 10million by the end of next year, so bolstered by that and the current cash position, it’s sufficient for the company to reinstate the dividend with management confident that sustained growth can be seen from here.

#2. Belluscura manufacturing underway and a fourth distribution agreement signed

A company we’ve followed in recent months is Belluscura [LON:BELL], the developer of lightweight portable oxygen generators. They have updated the market this morning to advise that manufacturing is now underway and a fourth distribution agreement has been signed. Critically, Belluscura is a portfolio company of Tekcapital, which owns around 15% of the company’s stock.

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#3. Virgin Money UK sees increases in mortgage lending and personal borrowing

There’s a Q3 trading update out from Virgin Money UK [LON:VMUK] this morning, which notes increases in mortgage lending and perhaps more surprising personal borrowing – an area which has been contracting of late. Business lending and overall deposits both fell, although an increase in the net interest margin (NIM) of 8 basis points will arguably offset much of this. Bad debt provisions have been adjusted lower as a result of the lighter than expected economic impact of the COVID pandemic

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This article is not investment advice. Investors should do their own research 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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