The infrastructure construction company Balfour Beatty had full year numbers out today. These appeared to be something of a mixed bag, but revenue growth from stronger construction activity clearly offset declines in valuations of the investment portfolio. The company also believes it will be immune from any political turmoil off the back of the UK election, with both parties committed to major public infrastructure projects. Just over an hour into the day the stock was 8% higher, comfortably topping the FTSE-250.
Keywords Studios also fared well, adding 10% in early trade, off the back of some well received full year results. Group revenues were up 18% and adjusted operating profits rose 6.5%, paving the way for a 10% increase in dividends. Management noted it had been a difficult year for the industry, adding that the tech-enabled offering ought to give the company an edge in the year ahead.
The investing company with a focus on esports updated the market this morning regarding a corporate action undertaken by one of its portfolio holdings. The condensed version here is that an asset which had been valued at £5.45m is now reported as being worth just £450,000, news that management admit is disappointing but also reflective of the challenging market conditions faced by the wider esports sector. Shares were down around 50% in early trade, reflecting the asset’s depreciation.
Headlines we expect tomorrow
Trainline Full year results
This time last year Net ticket sales £4.3bn, Operating profit £28m, Net debt £100m
Deliveroo Full year results
This time last year Gross Transaction Value £6.85bn, Gross profit £643m, Annual loss £294m
