Shares in the accounting software company Sage shot higher in early trade on Wednesday following the company’s publication of full year numbers along with news of a £400m share buy back. The underlying operating profit jumped by 21%, free cashflow was 30% higher and a further 9% revenue growth at a minimum is now being forecast for FY25, with additional improvements in operating margins also expected. The Sage share price was 16% higher in early trade.
A trading update from the provider of intelligent flow control systems was issued this morning, covering the four months to late October. There appear to be few surprises in here but the news - including order intake up by 8% and reaffirming full year expectations - clearly reassured the market. The Rotork share price was almost 5% higher shortly after the open although conceded some of those gains as early trade progressed.
The FTSE-250 listed animal genetics company published a pre-AGM trading update today and despite this offering up little in the way of new information, instead providing a slew of reassurances for investors, investors still appeared quick to applaud the news. The stock jumped by as much as 5% in early trade before giving back some of that upside, but by 9am the Genus share price was still up by around 3.5%.
Headlines we expect tomorrow
Jet2 Interim Results
This time last year Revenue £4.4bn, Pre-tax profit £660m, Dividend 4p
CMC Markets Interim Results
This time last year Operating income £122.6m, Pre-tax loss £2m, Dividend 1p
