Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Pearson’s solid momentum to drive modest growth through 2025
Full year numbers from Pearson LON:PSON are out today, noting the strong momentum that has been built by the company over the last two years. Underlying sales growth is up 5%, adjusted operating profits advanced 11% and the group expects to continue achieving mid-single digit revenue growth over the next three years. A full year dividend of 21.5p per share is proposed, up around 5% year on year.
- Quadrise making progress despite £2.9m pre-tax loss
- Rightmove needs to make final decision on REA offer
- Share Tip: FTSE 250 financial services provider in an enviable position
#2. Rightmove revenues advance as company looks immune to slowing market
Rightmove LON:RMV has seen a good year with revenues up 9% and operating profits advancing 7%. Shareholders are being rewarded with an 8% uplift in dividends and the note adds that despite economic uncertainty and a slowing property market, the company isn’t typically impacted by the underlying property market cycle. The increased inflationary backdrop is not expected to materially impact costs, and expectations are for an Underlying Operating Margin for 2023 of around 73%.
#3. Quadrise Fuels positive product development news
AIM listed Quadrise Fuels LON:QFI has provided a testing update of its bioMSAR fuel which has confirmed that the product can now proceed to the next phase of assessment. This news confirms that the bioMSAR can be used for both marine and power plant applications, and management see this as being an important step toward clearing the fuel for commercial supply.
