Half-year results from TV broadcaster Sky were released this morning and despite consumers facing economic uncertainty plus a squeeze on disposable income, the company continues to expand its reach. Operating profits jumped by almost a quarter whilst Sky added a further 365,000 new customers to its books. With promises of more product innovation and geographic expansion into mainland Europe too, the modest increase in dividends on top of this will make comforting reading for many investors.
Mid-term numbers also came from drinks giant Diageo this morning and it looks as if we should be toasting success here, too. A modest increase in revenues was flattered by a 6% jump in profits, thanks to the weak pound. Earnings per share were up over one third, whilst the company is also on track to see efficiencies over the three years to 2019 improve operating margins by 1.75%. There’s certainly plenty to cheer investors here.
The housing boom may be showing no signs of relenting across much of the country, but Brexit uncertainty and changes to taxation policies have been dragging on property prices in the capital. Full year numbers from estate agents Foxtons this morning confirmed there has been no real let up, with 2017 revenues down by 12% on the previous year. The update notes that the first quarter of the year was particularly bruising for the company, the trajectory is still heading lower. Numbers may have been in line with previous forecasts but the London-centric nature of the operation is showing up the risk of not diversifying….
