On a quiet day for corporate news the FTSE 100 is flat early on, consolidating yesterday's significant gains, with investors’ thoughts likely to be dominated through the course of the day by the latest developments in Turkey and trade relations between the US and China.
Cruise port operator Global Ports (GPH) gains 4.1% to 510p as it says it expects full-year results to come in at the upper end of its target range, after record revenue helped first-half losses narrow.
For the six months to 30 June, the company reports a pre-tax loss of $2.1m, compared with a loss of $6.5m a year earlier, as revenue rose 13.7% to $56.6m.
Growth was led by a 21.1% jump in cruse revenue amid strong passenger volumes at cruise ports. The improved performance came despite the first half of the year typically representing a weaker period.
'The first half of our financial year is typically lower in terms of cruise passenger volumes due to the seasonally low Q1, hence trends during first half are not fully informative for full-year trends,' the company says.
Looking ahead, management guide towards full-year results at the upper end of expectations. The statement will prove particularly reassuring given Global Ports’ material footprint in Turkey.
Royal Bank of Scotland (RBS) says Katie Murray will become its interim chief financial officer at the start of October, as a search for a successor to Ewen Stevenson continues.
Stevenson's impending departure was announced by the bank in May.
'The search for a successor for Mr. Stevenson is underway, and a further announcement will be made in due course,' RBS says.
Murray is currently deputy CFO.
Support services and construction group Interserve (IRV) says the company and its consortium had reached financial close on a £105m project for Durham University to build two new college facilities.
The consortium - made up of Interserve, fund and asset management firm Equitix and student accommodation developer Campus Living Villages UK - will design, build, finance and operate two new college facilities on a 51-year concession.
Waste management business Biffa (BIFF) gains 4.1% to 244p as it unveils the acquisition of Weir Waste Services, a provider of waste and recycling solutions, for £16.2m
Oil producer Victoria Oil & Gas (VOG:AIM) reports lower second-quarter gas sales after its subsidiary in Cameroon encountered supply issues with a key customer. The shares fall 2.6% to 31.84p in response to the news.
The subsidiary, Gaz du Cameroun, remained engaged with ENEO following the non-renewal of a grid power gas sale agreement at the end of December 2017.
Sales from the Logbaba asset dropped to 183m standard cubic feet per day, down from 189m in the first quarter.
