Three things you need to know in the financial markets this morning from investment writer, Tony Cross
SAGA
Hot on the heels of numbers from the AA, SAGA has published its interims this morning. A modest uptick in profit before tax has been recorded with everything apparently running to plan.
A solid increase in customer numbers, notably in home and motor insurance, has reversed a decline in client numbers which was seen in the latter part of 2017, but falling insurance premiums are already being tipped to hit performance in H2 ’18.
The interim dividend is being maintained.
888
Online gaming and gambling group 888 has published numbers this morning for the first half of the year.
Direct consumer business is rising, especially in online casinos and sports betting, but the company’s white labelled B2B operations are contracting.
Changes in sports betting in the USA hold great potential, especially on the B2B side, but it will take some time for this to be realised. Earnings per share are up around 2%.
IG Group
Change at the top at IG Group this morning, with the departure of Chief Executive Peter Hetheringon being announced.
Under Peter’s three year tenure, the pre-tax profit and earnings per share have both risen by over 65% and a successor is yet to be announced. Markets frequently react badly to news like this.
