Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. US writers’ strike hits ITV studio revenues
Q1 numbers from broadcaster ITV LON:ITV are out today, showing studio revenues down 16% reflecting the impact of the US writers’ strike, although full year revenues are expected to come out broadly flat. Ad revenues however paint a bigger picture with a 3% uptick in Q1 and momentum building into Q2. Management note that the company remains on track to meet 2026 KPI targets.
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#2. NAV marches higher at 3i despite macro woes
Full year numbers from 3i LON:III have been published with the company reporting a 23% investment return on shareholder funds, down from the 36% posted a year ago. Net Asset Value has however increased by around a quarter and on a per share basis stands at 2085p, significantly below the current trading price.
The premium here is certainly something to be noted and a dividend of 61p per share is proposed. There’s a cautious outlook expressed given macroeconomic factors but trading momentum at the start of the new year is seen as being strong.
#3. Airtel Africa customer numbers up but profits fall
Airtel Africa LON:AAF also has full year numbers out today, with total customer base growth of 9%, but a 20.7% increase in mobile money subscribers who collectively drove a 38% increase in transaction value. However despite those impressive stats, revenues and operating profits are both lower. Foreign currency headwinds are also proving challenging and whilst this remains a growth market, as management note a focus on margin improvement will be key.
