Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. BP’s bumper Q4 numbers as oil prices remain high
Oil giant BP LON:BP. was the latest industry play to issue Q4 numbers this morning. Record annual profits of $27.7bn have been posted, more than double the 2021 figure. Q4 dividends are up by more than 20% YoY and a further $2.75bn share buyback has been announced. Again with these results being fuelled by surging oil prices off the back of Russia’s invasion of Ukraine, they will attract the inevitable negative media headlines, although astutely these numbers come after the eye popping equivalent from Shell and also on the same day that UK bank CEOs face a grilling in Parliament.
- Director Deals: Burberry, BP, Wizz Air
- FTSE 100 at the close: Rolls-Royce, BP
- FTSE 100 at the close: Ocado, Fresnillo, BP
#2. All Things Considered full year update shows continued improvement in trading
Aquis-listed All Things Considered [AQSE:ATC] has published a full year trading update this morning covering the 12 months to 31st December. The Board expects to report FY22 results in line with market expectations, with double-digit revenue growth and a significantly improved adjusted loss before tax. Trading conditions continue to improve as live music returns post-COVID, with management noting renewed demand for livestreaming, although they do acknowledge the risk posed by the wider economic backdrop across geographies.
#3. React’s recent acquisition driving revenues
AIM-listed hygiene company React LON:REAT has published full year results to 30th September today. Revenues are up 78%, profits are up 37% and management note the positive impact of the acquisition of the established LaddersFree entity. Strong demand is noted as the new financial year gets underway, giving the board confidence over the outlook for the business.
