The FTSE-250 listed FinTech and brokerage house CMC Markets published full year results this morning. Operating income rose to a post-COVID high and cost savings have been deployed to improve margins, with the company posting a 52% increase in adjusted pre-tax profits. This news saw the share price advance by more than 9% in the first hour of trade and comes in the wake of Tuesday’s announcement of a tie up with neobank Revolut. That was also well-received and the shares are currently up by more than 18% since the start of the week.
At the other end of the scale on the FTSE-250, Tate and Lyle took something of a pasting after announcing it planned to acquire CP Kelco in a £1.4bn deal. Whilst the move was seen as driving revenue growth towards the top end of targets and delivering margin improvements, at least some investors have proved far from enthusiastic over the deal. Shares were trading down around 6.5% shortly after the open although losses had been roughly halved by 9am.
Polling play YouGov issued an update on current trading this morning, noting lower sales bookings than had been anticipated. As a result, full year revenues are now tipped to come in around the £324-£327m range, well below the mid-term guidance which was upped to £650m back in March. Management note that whilst demand for customised research solutions is being sustained, sales of data products are suffering. Shares were down 39% by an hour into the day on Thursday.
Our three most read stories yesterday
Vodafone sells 18% stake in Indus Towers
