Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Lower volumes and prices hit Mondi
Packaging specialists Mondi LON:MNDI issued full year results this morning. EBITDA fell sharply as a result of lower selling prices and volumes, but cash generation was improved and the company continues to make progress against its growth plans. The dividend is being maintained, but these numbers could provide added weight to the benefits of a merger with peer DS Smith.
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#2. Rolls-Royce still gaining altitude but dividend remains on hold
Rolls-Royce LON:RR. has full year numbers out today, noting underlying profits of £1.6bn and a margin of 10.3%, with guidance for 2024 being for further improvements to be seen. Critically however the dividend still remains on hold despite technical restrictions here now having been overcome. Given the strong run up in the share price of late, will this line end up dominating?
#3. Lloyds Bank launches fresh share buy back, impairments fall
Full year numbers from Lloyds Banking Group LON:LLOYare also out today, with a return on tangible equity of 15.8%, a 15% increase in the full year dividend and news of a share buyback of up to £2bn. Impairment charges have been significantly lower than the comparative year and profits are materially higher YoY although the note adds that this was driven by a restatement of earnings. The bank remains on track to achieve previously stated strategic outcomes for both 2024 and 2026.
