Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Hauliers turned aviation and energy specialists Stobart Group have published full year results today, suggesting that the company’s refocusing is yielding results. Group revenues are up by around 40% although a series of charges resulted in a sizable loss for the company across the period. As a result, dividends will be trimmed with payments for the year proposed at just 50% of the 2018 figure.
More upbeat news from a housebuilder with Telford Homes publishing full year results this morning. Total revenues are up 12% gearing has fallen dramatically and the company is making solid inroads into the build to rent sector, which comes with lower risk and lower capital requirements. This move has however squeezed margins, taking a toll on profitability as a result. Proposed dividends are unchanged on the previous period.
easyHotel has published interim results today showing something of a mixed bag. Whilst ‘revPAR’ – revenues per available room – are up by an industry beating 10.1% in the hotels it owns, the performance in its franchised properties isn’t quite so upbeat. The market remains challenging especially in the UK with ongoing Brexit uncertainty lingering, but the company does have the confidence to up the interim dividend payment slightly as expansion plans continue.