Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Half year results from Sage are out this morning, showing solid revenue growth with a bias towards the subscription model. The company does note that this is against soft comparative figures for the same period a year ago, but expects full year numbers to be towards the upper end of previous guidance. Margins are admittedly under a little pressure but the uptick in dividend is likely to offset any downside here.
Rising costs and falling revenues have made for a difficult first half for easyJet. The 13.3% increase in passenger numbers may provide some solace but the company is looking at a £272 million loss from the period, compared with £68 million a year earlier. Costs are however expected to fall in the second half, leaving the full year outlook as unchanged.
Metro Bank has announced the successful placing of its rights issue. The deal was oversubscribed by almost 10% and investors will be hoping this draws a line under the share price’s recent demise. Just over a year ago, shares were trading at £40 each. Last night they closed at £5.36.