Three things you need to know as the UK financial markets open, from Tony Cross.
#1. Balfour Beatty sees dividend and investment portfolio valuation rise
Balfour Beatty LON:BBY published its interim results this morning, noting revenue growth of 3% and an uptick in underlying profits of 6%. Management also highlight significant momentum in growth markets with work continuing for slew of high profile customers, whilst the investment portfolio valuation has also been increased, recouping recent losses. The interim dividend is being hiked by almost 10% and there’s a growing cash balance, too.
#2. Aviva hikes interim dividend
Interim number are out from the insurer Aviva LON:AV. today, with highlights including growth in operating profits of 14%, a 7% increase in the dividend and management note they are confident over the outlook for 2024 and beyond. A £300m share buyback was completed in the first half with expectations that further such capital returns will be made in the future. Longer term guidance as posted in the FY23 results remains on track.
#3. Cash burn continues at Amaroq as gold production nears
AIM-listed Amaroq Minerals [LON:AMRQ] has delivered Q2 results this morning which include an array of progress updates from recent months. Perhaps most critical here is the fact that the company remains on track to deliver the first gold from its Nalunaq plant in Q4, which given the pace of cash burn over the last 12 months will be a metric that many investors are following closely.
