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Three Quick Facts: Berkeley, Bodycote, Vodafone

Three Quick Facts: Berkeley, Bodycote, Vodafone

Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Short trading update from Berkeley

There’s a trading update for the quarter to 29th February out from Berkeley Group LON:BKG this morning. Not too much detail in here, but the note confirms previous guidance. Enquiry rates are seen as being strong although customers are looking for the prevailing political and economic uncertainty to recede as well as interest rates falling. The note also adds that cash due on private forward sales continues to moderate, but on balance there’s unlikely to be much of concern here.

#2. Margins, profits improve at Bodycote

Full year numbers are out from Bodycote LON:BOY this morning with revenues up 8% and full year operating profits advancing by 17%. Investors are being rewarded with a 7% dividend increase with management noting they expect to see a normalisation in energy prices in the year ahead, helping the company deliver against its target of a 20% operating margin.


#3. Vodafone Italian disposal completed

Vodafone LON:VOD has this morning confirmed the sale of its Italian division, allowing the telco to focus on growth markets going forward. The sale – worth EUR8bn – will see EUR4bn returned to shareholders via buybacks and management have also announced a new capital allocation framework, including rebasing dividends to 4.5c per share from FY25.

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This article does not constitute investment advice.  Do your own research or consult a professional advisor.

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