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Three Quick Facts: M&G, Savills and Entain


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

#1. M&G: strong fund inflows in H1

Asset managers M&G LON:MNG have published a half year report this morning showing strong inflows following disappointing comparatives 12 months ago. Fund performance was also noted as having improved and despite the macroeconomic environment creating an air of uncertainty, the company notes its diversified income streams, strong solvency ratio and the fact that an interim dividend of 6.2p per share has been declared as being signs of just how well positioned it sees itself as, despite emerging headwinds.

#2. Savills: revenues up, profits down as costs bite

Real estate advisor Savills LON:SVS has its half year numbers out today, with group revenues up by 11% but underlying profits down by around 10%. However an improvement in the net cash position is seeing investors rewarded with a 10% interim dividend increase. Inflationary pressures are taking a toll here, especially in relation to staffing costs and the company also notes difficulties in terms of predicting the scale of any slowdown given the deteriorating economic situation. That said the note does highlight pockets of concern such as a slowing investment market in Germany during Q2 but this is countered by hopes that as China emerges from lockdown in the latter part of the year, sales will improve here.

#3. Entain: confidence over outlook despite economic headwinds

Sports betting and gaming group Entain LON:ENT has interims out today, noting a robust performance during the period reflecting the diversified business model as net gaming revenue increased by 18%. Online revenues fell, which is a result of tough comparatives post-lockdown, but the note adds that this line remains 13% higher than pre-pandemic. A new dividend policy, with an 8.5p interim payment being made, has been declared and despite looming macroeconomic uncertainty, there’s confidence that FY EBITDA will still come in around current consensus estimates.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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