The FTSE 100 is down 48 points to 7,514 as positive trading in the US fails to cross the pond to the UK. As the pound continues to make gains against the dollar, the overseas earning constituents of the main index feel the strain.
FTSE 250 staffer Hays (HAS) is down 2.7% to 197.35p on release of its full year results. The company’s pre-tax profits grew by 17% to £238.5m and raised its core and special dividend per share by 18% to 3.81p and 5p respectively for its year ending 20 June. However, its UK and Ireland division, which makes up for around a quarter of the company’s business, only saw 2% growth to £258.2m in net fee income as ‘the UK market remained uncertain’.
Energy services company Hunting (HTG) gains 9.9% to 833.5p after moving to a $53.5m underlying profit from a $9.3m loss the prior year. The company’s half year results to 30 June also reveal a 39.2% lift in revenue to $442.8m on a year-on-year basis while also declaring a $0.04 interim dividend. There was no interim dividend the prior year.
Ceramics maker Churchill China (CHH) ticks up 3.5% to £10.35 on news its pre-tax profits are up 24% to £3.3m for its half year. In the six months to 30 June, the company’s revenue is up 6% to £27.2m and it has hiked its interim dividend by 18% to 8.7p.
Inkjet technology company Xaar (XAR) crashes 28.8% to 175p after saying that the reception of its new products has been ‘significantly slower than expected’. The company says that underlying trading continues to be below the levels previously anticipated by the board while the rate of decline in ceramics continues to be ‘aggressive’.
Micro financing company ASA International (ASAI) is down 2.1% to 481.3p as its half year results show its Asian operations had lower than expected performance. The number of clients this recently floated company has increased 29.6% year-on-year, exceeding 2m by 30 June. It also reported higher than expected currency depreciation in some of its major operating countries such as Pakistan and India.
Guarantor loans company Amigo (AMGO) declines 3.1% on release of its first quarter results. In the three months to 30 June, the company’s revenue is up 47% to £62.9m while its pre-tax profits increased by 31% to £21.8m. Investors may have been wanting more considering the number of analysts backing the company.
Books and magazine retailer WH Smith (SMWH) gains 6p to £20.58 after announcing that its travel business continues to perform strongly in a pre-close statement. The company says it now has 286 stores internationally and see further opportunities in the international news, books and convenience travel market.
