The FTSE 100 is flat in early trading this morning at 7,019.57 as traders look for clues on whether the US and China can resolve their differences on trade at this week’s G20 summit in Argentina.
Travel company On the Beach (OTB) posts a 24% rise in full-year profit after riding out a slump in demand caused by hot UK summer weather by cutting its marketing spend.
Pre-tax profit for the year through September rose to £26.1m, as revenue climbed 25% to £104.1m.
The company declared total dividend payments for the year of 3.3p, up 18% on-year. The positive update contrasts sharply from yesterday’s damaging profit warning from travel operator Thomas Cook (TCG).
Credit ratings firm Experian (EXPN) dips 0.4% to £18.61 as the Competition and Markets Authority says its acquisition of ClearScore will be detrimental to competition.
IT technology and services provider Softcat (SCT) says it had traded 'well' in the first quarter, growing both revenue and operating profit.
Customer demand remains strong across all segments during the three months through October. The shares advance 0.2% to 590p.
Plastics product manufacturer RPC Group (RPC) posts a 5% fall in first-half profit, as higher polymer prices weighed on margins and it wrote down the value of businesses held for sale. The shares are steady at 753.8p.
Component supplier Senior (SNR) says it expects to make 'good' progress in calendar 2018 after trading in the first 10 months of the year met its expectations.
The company reveals its aerospace division is still benefiting from positive activity in the large commercial aircraft sector.
'We continue to make good progress on new product introductions on programmes won over the past year and this investment activity will continue into the first half of 2019,' it adds. The shares dip 0.4% to 255.6p
London-focused residential property developer Telford Homes (TEF:AIM) reports a 16% rise in first-half profit but says it has 'work to do' to reach its annual profit guidance. The shares are up 1.7% to 304.5p having been weak into today's announcement.
Pre-tax profit rise to £10.1m, on revenue up 31% to £129.6m. The company declares an interim dividend of 8.5p per share, up 6.3%. Telford had already announced previously that it still needed to sell more homes to reach its annual pre-tax profit guidance of at least £50m.
Property investor Daejan (DJAN) says first-half profits were underpinned by portfolio revaluation gains, but expresses caution about its UK business amid worries over the impact of Brexit. Investors look past these concerns to mark the shares 1.7% higher at £59.71.
For the six months ended 30 September, pre-tax profits are up 7.9% to £61.1m driven by a valuation gain on investment properties of £32.5m, up 10% on last year.
