Testing and certification company Intertek is topping the FTSE-100 in early trade following the release of its full year results. The numbers were very much a case of steady progress being made, but with its customer focusing on sustainability and higher quality, the outlook is certainly positive. An hour into the session and the stock was sitting up around 6%.
At the other end of the blue chip board, plant hire specialists Ashtead were struggling in the wake of quarterly results issued this morning. Whilst the overall picture for the full year remains upbeat, the business has struggled in recent months with lower income from natural disaster responses in the US and that strike by Hollywood writers running for longer than had been expected. By mid-morning, the stock was trading some 7% lower.
A recommended £1 billion takeover offer by private equity for Spirent Communications saw the company’s shares jump sharply in early trade on Tuesday. The offer represents a 61% increase on last night’s closing price, with management saying the price point recognises the underlying value of the company, offering an attractive outcome for investors and other stakeholders. Shares were reflecting most of the bid premium shortly after the opening bell, trading up around 58%.
Headlines we expect on Wednesday
Ibstock final results
This time last year Revenue £513m, pre-tax profit £105m, FY dividend 8.8p
Legal & General final results
This time last year Operating profit £2,523m, Return on Equity 20.7%, FY dividend 19.37p.
