Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Rentokil acquisition delivering revenues & synergies
Rentokil [LON:RTO] has full year numbers out today, with revenues adding an impressive 45% largely off the back of a major acquisition completed in late 2022 and this figure is matched by growth in adjusted pre-tax profits. Shareholders are being rewarded with a 15% increase in the dividend and management believe that further synergies can be delivered off the back of the Terminix purchase.
- Three Quick Facts: Rentokil, Dunelm, Deliveroo
- Three Quick Facts: Robert Walters, Hays, B&M
- Companies Reporting: LVMH, ASOS, Entain, Netflix, Rentokil
#2. ITV revenues dip but management confident over outlook
Full year numbers are also out from ITV [LON:ITV] this morning. Cost saving plans are running ahead of schedule, but whether this will take the sting out of a modest 2% drop in revenues is to be seen. Studio and digital income is however performing well and the dividend payout for the year is being held in line with the FY22 figure. The outlook notes that the combination of studios and streaming means the business is well placed to grow profits and deliver further efficiency gains.
#3. Robert Walters: recruitment market subdued with no quick rebound in sight
Specialist professional recruiter Robert Walters [LON:RWA] has full year results out today. Always a useful barometer of business confidence, revenues are down 10% but that translates into operating profits having taken a 55% hit. Digging a bit deeper, contract and temporary recruitment is holding up well but permanent hires are struggling. Headcount has been reduced but the muted performance seen in 2023 has carried into the new year, albeit with some isolated pockets of growth being seen.
This Post Has 0 Comments