London’s FTSE 100 jumped 2% to 6,110 points on Tuesday following on from gains across Asia on speculation of coordinated stimulus from global central banks and governments.
Brent crude gained 5% to $36 a barrel paring back yesterday’s brutal falls while the pound was steady against the US dollar trading at $1.31.
The firm was able to move back some events to later in the year due to the coronavirus and said, ‘We are facing a 2020 impact from Covid-19 in our events-related businesses and so we have used our strong customer and supplier relationships to swiftly deploy a material postponement programme, shifting our events calendar to later dates in 2020.’
Pre-tax profit for the year through 31 December fell 29% to £1.1bn, down from £1.6bn. Chief executive John Foley said the company had posted a 'resilient performance' in a challenging market.
M&G declared an ordinary dividend of 11.92p per share and special demerger dividend of 3.85p. The shares nudged-up 0.4% to 173.2p.
Pre-tax profit for the year through December amounted to £243m, swinging from a loss of £787m on-year. The shares traded 1% higher at 241.9p.
Pre-tax profit jumped to £91.0m, up from £42.6m on-year, as revenue climbed 7.7% to £825.4m.
The company declared a full-year dividend of 54.2p per share, up 5% on-year.
Pre-tax profit for the year through December amounted to $73m, compared to a loss of $8m on-year.
Inter-dealer broker TP ICAP (TCAP) booked a 50% rise in annual profit after it completed a merger integration programme, though it warned of an uncertain macroeconomic backdrop as the coronavirus spreads.
Pre-tax profit for the year through December increased to £93m, up from £62m on-year. The shares traded 0.7% higher to 357p.
The dividend was suspended as the company focused on debt reduction. On Covid-19 the group said it is likely to see an impact of £6m to £9m on the assumption the virus subsides towards the second quarter. The shares fell 1% to 249.5p.
Pre-tax profit for the year through December increased 8.9% to £19.6m, up from £18.0m on-year, as revenue rose 4.1% to £2.28bn.
Pre-tax profit for the year through December jumped to £19.2m, up from £8.7m on-year, as revenue climbed 43% to £61.8m.
Team17 said it had a solid pipeline of game launches planned for 2020, with 10 titles already announced, including Moving Out and Main Assembly.