Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Galliford Try trading update shows solid growth
Construction group Galliford Try LON:GFRD has this morning issued a trading update for the full year to 30th June. Pre-tax profits are set to come in at the upper end of forecasts and shareholders are in line for a 12p special dividend. The company’s order book is around 10% stronger than it was a year ago and 92% of revenues for the new financial year have already been secured.
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#2. Norman Broadbent faring well despite concerns over economy
AIM-listed executive search firm Norman Broadbent LON:NBB has issued a trading update for the first six months of the year. Net fee income for the period is up by 57%, with this being supported by a range of internal improvements and the securing of quality mandates. Average search fees are up by 43% and the headcount of fee earners has risen by 35%. Despite the well reported economic headwinds, the company is carrying good momentum and remains well position for continued growth.
#3. Macro headwinds support Begbies Traynor
Insolvency specialists Begbies Traynor LON:BEG announced full year results today for the year to 30th April. Revenues are up by just over 10% with growth ahead of market expectations. There has been significant free cash generation and the total dividend for the year is being proposed at 3.8p. The company sees itself as being well positioned for further growth given the mounting macroeconomic headwinds.