Falling profits at Next (NXT) is old news. For investors, the key focus in today’s full year results is the fact that the retailer hasn’t further downgraded earnings guidance. The market seems pleased with signs of stabilisation after a tricky few years for the business, hence why the shares rise 1.7% to £39.51.
GVC (GVC) enjoys a 2.2% share price lift as its full year earnings beat analysts’ predictions. The gambling firm also announces a second special dividend of 15.1c.
Clothing seller Ted Baker (TED) has reported a 4% rise in full year pre-tax profit to £61.3m and a 12.1% hike in the dividend. That’s perhaps not enough to excite the market as its shares fall 2.6% to £27.66. ‘Excellent business, but not enough here to see the shares re-rate materially short term in our view,’ says Canaccord Genuity analyst David Jeary.
FTSE 250 safety group Halma (HLMA) jumps 5.2% to £10.09 after reassuring investors that full year earnings would meet expectations. It says a recently increased credit facility and ongoing strong cash generation provide the firepower to make further acquisitions to achieve its growth objectives.
Housebuilder Crest Nicholson (CRST) dips 1.1% to 555p despite a reassuring trading update. It reports ‘good sales’ across the business and the current forward sales position is 5% ahead of the same point last year.
Franchise Brands (FRAN:AIM) is buying drain clearance and maintenance services firm Metro Rod for £28m. It is raising £20m to help fund the deal via placing new shares at 67p. That is a 28% discount to yesterday’s share price.
Transport group Eddie Stobart is to return to stock market as a standalone entity. Former parent company Stobart Group (STOB) sold a 51% stake in the business three years ago and will continue to hold a large stake in Eddie once it joins AIM.
WYG (WYG:AIM) sees its share price tumble 16% to 107.49p after reporting delays to some of its higher margin service lines which has impacted its profit performance.
