Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Losses balloon at Blue Star Capital
Full year results from Blue Star Capital LON:BLU are out today. The investing company with a focus on esports was in the news a few weeks back following an unexpected write down in the valuation of one portfolio holding. The adjustment here has hit the P&L hard, with a portfolio value of £5.3m being reported against an annual loss of £6.3m.
Costs have been trimmed dramatically but management are now focused on the disposal of SatoshiPay and once this is completed will consult with shareholders over the company’s future.
- UK Stock Market News: Next, Arbuthnot Banking, Playtech
- Companies Reporting: Fevertree, Vistry, Next
- AIM Market Roundup: Inspiration Healthcare up 84%
#2. Next full year numbers offer no surprises
Full year numbers are out from Next LON:NXT this morning. These show pre-tax profits of £908m, just slightly ahead of forecasts but 4.4% up YoY. That pace of growth is forecast to be maintained in the coming financial year. Total proposed dividend for the year is 207p, only a penny higher than the figure seen a year ago and the note adds that applying the current capital return policy will see a further £288m worth of share buybacks.
#3. Profits up 15% at Aquis, solid response to new trading rules
Full year results are out from Aquis [LON:AQS] today, showing revenue growth of 13% and profits up by 15%. Growth has been most notable in technology and data channels, with management noting that 16 new companies had joined the exchange in FY23. Whilst macroeconomic uncertainty continues to drag, the company notes that it has made a strong start to the new year and participants have been supportive of recent rule changes.
