Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Taylor Wimpey sales rates slow, but up from Q4 ‘22
Some solid full year numbers out from Taylor Wimpey LON:TW. today, with revenues 3.2% higher, a 1.6% increase in operating profit margin and news that shareholders will be rewarded with a close on 10% uptick in dividends. More critically however it’s the outlook that provides the most interest and the company notes early 2023 sales are improving from the position seen in Q4 ’22, although private reservations remain around 40% lower and the current forward order book is down by around 25%.
- UK Stock Market News: Endeavour Mining, Rentokil, ITV
- Companies Reporting: Greggs, Reckitt, Entain, ITV, Vistry
- UK Stock Market News: Ocado, Serco, Taylor Wimpey
#2. ITV’s strong finish to ’22 with momentum sustained
Full year numbers from ITV LON:ITV are out today, noting a strong end to 2022, positive momentum as 2023 gets underway and the fact that the company is on target to hit KPIs laid out for 2026. The company is seeking to deliver a further £15m of cost savings in response to macroeconomic uncertainty and shareholders are being rewarded with a 50% uptick in dividend for the full year.
#3. National Express dividend reinstated as passengers return
Like many transport operators, National Express LON:NEX struggled during the pandemic but todays’ full year numbers show a more upbeat picture. Revenues are up by around 25% and underlying operating profits are up 127%. A recruitment drive has seen 900 drivers added over the course of the year allowing routes to be reinstated and a 5p per share dividend is being declared. Expectations for 2023 are unchanged and the company believes that demand for public transport will continue to grow in the years ahead.
