Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Full year profitability returns for Rolls Royce
Full year results are out from Rolls Royce [LON:RR.] this morning, with the company noting free cash flow ahead of expectations and that cost savings from restructuring have been delivered a year earlier than had been forecast. As a result the company has posted its first full year profit since 2017. The company notes it is well positioned for further growth.
#2. BAE Systems dividends up as sales march higher
There’s a solid enough set of full year results in from BAE Systems [LON:BA.] which appears to give little cause for concern. Sales are up 5%, EPS is up 12% and net debt is being paid down. The one point that may cause concern is the modest contraction in order backlog, but investors are being rewarded with a 6% dividend increase.
#2. Hays sees full year profit upgrade and promise of special dividend
Recruiter Hays [LON:HAS] has published half year numbers this morning, noting net fees off the back of the return to work and a solid performance across all territories. Income rose by 34% whilst profits surged more than 300%, allowing the company to declare an interim dividend of 0.95p per share. What’s more, a substantial special dividend is also anticipated off the back of the full year results, which have been upgraded, suggesting that profitability will come in between £210m and £215m.
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