Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Royal Bank of Scotland
Royal Bank of Scotland has published full year results this morning, showing a doubling of pre-tax profits, from £752 million to £1.6 billion. The bank remains 62% owned by taxpayers, meaning the Treasury will collect almost £1 billion in dividends. The bank has however cautioned over political instability having he potential to increase bad debts and expects impairments to increase in the year ahead.
Bumper results from the commercial property company SEGRO this morning, with pre tax profits up 24%, the net asset value up 17% and the full year dividend increasing more than 13%. Brexit remains a risk for the company but appears to be well within scope and accounted for. Arguably warehousing requirements may end up increasing in the event of a disorderly departure from the EU.
Last year, Premier Foods had been looking to offload its Ambrosia brands, but despite discussions with a series of interested parties, the company has now elected to withdraw the brand from sale. The current business climate apparently won’t result in a satisfactory financial outcome, but if investors see this as the product being overvalued, the company’s shares could be rattled in today’s session.