Three developing stories at the UK stock market open.
1. Bumper gold prices see record year at Endeavour
Full year results out from Endeavour Mining [LON:EDV] this morning show the company having put in a solid performance over the last 12 months. Record levels of free cashflow have fuelled significant shareholder returns of US$277m, equivalent to $251 for every ounce of gold produced. That commitment to returning cash to investors is set to be maintained in the current financial year.
2. Rentokil struggles to find momentum
Rentokil Initial LON:RTO issued its full year results with management noting it had been a challenging year for the company. Profits are margins were both down year on year, although this had been cautioned previously, whilst some modest revenue improvements were seen. Q1 in North America has also seen a challenging start but the 2025 outlook remains in line with expectations.
3. Digital investments paying off at ITV
Full year results from ITV LON:ITV are out today, noting an 11% improvement in EBITDA, whilst booming digital consumption figures have put the business on track to recover its investment in ITVX by the end of this year, much earlier than had been anticipated. Declining studio revenues did skew group income, but this division is tipped to see a recovery in the year ahead, although some margin pressure is also forecast. Management also expects revenue and profit growth momentum to accelerate in the medium term.
