The FTSE 100 is down by 7 points to 7,250.03 as markets worry about the escalating tensions between major nations over the Syria conflict.
Over 50s insurer and travel agent Saga (SAGA) ticks up 7.8% to 126.1p after posting a 1.4% increase in underlying pre-tax profits to £190.1m. The company is also proposing to hike its dividend for its year ending 31 January by 5.9% to 9p per share.
Its insurance division saw a 4.6% increase in profits in retail broking while its travel business enjoyed profit growth of 36.9%. The company has started building its second cruise ship ‘Spirit of Discovery’ and has hit 50% of its sales targets with ‘attractive yields’.
The UK’s largest staffer Hays (HAS) sheds 1.3% to 183.7p as UK net fees are down 2% on a like-for-like basis on the prior year. The company as a whole enjoyed 10% growth in net fees with Germany being a standout region, growing 19% in its third quarter to 31 March compared to the previous year.
Bookseller and stationer WH Smith (SMWH) loses 1.6% to £19.47 as it posts a fall in earnings and profits. For the six months ending 28 February, pre-tax profits are down 1% to £82m although its travel division which serves airports and train stations reported a 5% increase in trading profits compare to a 6% decline in its high street operations. Revenue is flat on a year-on-year basis.
Asset manager Man Group (EMG) gains 5.4% to 185.1p after reporting inflows of $4.8bn during its quarter ending 31 March. The company also announces plans to buyback a further $100m of shares.
Pub operator Greene King (GNK) is up 7.6% to 500p after saying it is well placed to ‘withstand the external market challenges’. In its pre-close statement, the company says its like-for-like sales are down 1.8% in the 48 weeks to 8 April.
Retailer Carpetright (CPR) sheds 16.6% to 35p after confirming that it is to close a number of underperforming stores having finalised the terms of its company voluntary agreement.
Homewares retailer Dunelm (DNLM) rises 9% to 571p on news it increase revenue by 5.1% to £268.2m in its third quarter. For the 13 weeks to 31 March, its like-for-like sales grew by 4.6% while online growth improved by 35.7% £29.7m.
Gaming company Playtech (PTEC) shares rally 7.7% to 820p after agreeing to acquire 70.6% of Italian rival Snaitech. The deal is expected to complete in the fourth quarter of the year.
Biotech company Destiny Pharma (DEST) gains 3.6% to 129p as its maiden results for its 2017 calendar year show a strong cash position of £16.7m. Its admission to the AIM market last September raised £15.3m and its main drug, XF-73 is track to deliver phase 2b headline data by the second half of 2019.
AIM-listed miner Central Asia Metals (CAML:AIM) dips 1.5% to 321p as it reveals cost inflation with some of its materials. The cost of extracting copper from its Kounrad plant has increased 20% to $.0.52 per pound. However, chairman Mick Clark says ‘we are proud to remain one of the lowest cost copper producers in the world’.
