The homebuilder Barratt Redrow issued interim results this morning which have been sufficient to propel the stock to the top of the FTSE-100 leaderboard. In addition to a rebound in completions being recorded, the company also saw average selling prices marching higher, something that wasn’t the case at peer Bellway earlier in the week. Full year profits are now expected to be at the top end of guidance, there’s a £100m share buy back scheme been launched and interim dividends are up by 25%, too. The Barratt Redrow share price is up more than 7% in early trade.
The VC firm Molten ventures has this morning published a brief outline of a strategic update ahead of an investor day it will be holding later. There are a few headlines points in here, but these include the idea that the discount to NAV can be closed with an extended share buy back, whilst cost and scale efficiencies are also noted. That’s been sufficient to offer the market something to cheer and the Molten Ventures share price is up almost 6% in early trade.
Georgia-based TBC Bank issued Q4 and full year results this morning. Profits have advanced by 15% for 2024 with return on equity coming in at 25.6%, 90 basis points down on the comparative. With the dividend up 12% and robust momentum being seen as sustainable, targets for 2025 are well on track. The TBC share price was up by more than 6% at 9am.
Most read news on Investegate this morning
Update in relation to motor commissions - - Close Brothers Group (CBG)
Half year results for the period ended 29 Dec 2024 - - Barratt Redrow (BTRW)
Jackson-31 Drilling Update Galactica Project - - Helium One Group Ltd (DI) (HE1)
