Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Ryanair have a note out highlighting the fact that the budget airline has reached agreement with the German Pilot union, covering a four year deal regarding pay conditions. This may well increase costs but should give passengers and shareholders alike a little more certainty over future operations. The airline also announced this morning that November traffic figures were up 11%, with a 96% load factor.
Transport operator Go-Ahead Group has this morning announced it has reached agreement with the Department for Transport regarding redress following the poor implementation of new rail timetables in May 2018. Its GTR franchise will now provide £15m to fund passenger enhancements, whilst a profit share with the government will now be introduced for the remainder of the franchise. Margins for the remaining duration are expected to be between 0.75% and 1%, down from as much as 1.5% in previous forecasts. The franchise will deliver no profit this year, but the clarity could be welcomed by shareholders.
Convenience food producer Greencore has published its full year results this morning, showing strong growth across the business. Revenues are up 4% and although margins are being squeezed, profits are soaring. Despite the uncertainty over Brexit, the company remains confident in future prospects and the dividend is being hiked a modest 1.8%.