Results round-up

Alexander Bueso Sharecast | 19 May, 2017 17:37 | | |

Jefferies downgraded credit checking company Experian to 'hold' from 'buy' and cut the price target to 1,550p from 1,670p following the company's preliminary full-year results on Thursday.

Although increased innovation should help the group to grow at least in line with end markets, Jefferies pointed out that US credit momentum is slowing and said it is unclear whether Consumer Services can revive after more than two years of disruption.

Newspaper publisher Johnston Press posted a 0.2% rise in total revenues for the 17-week period to the end of April as it noted that trading conditions for regional newspapers remain challenging.

Excluding sales of the i newspaper, which continues to perform well, total revenues were down 12%. Sales volumes for the i were up 4% in the 12 months since its acquisition, with circulation revenues up 23% and average website unique users 12% higher from February to March.

Digital advertising revenues were up 10%, or 3% higher including classifieds. Meanwhile, on-network digital audiences were up 11% to 26m, with average page views up 17%.

Circulation volumes of The Scotsman and Yorkshire Post continued to improve, while other large dailies such as the Sheffield Star, Evening Post and the Edinburgh News also saw some improvement.

"The board notes that trading conditions for regional newspapers in the UK remain challenging and, while encouraged by improving trends across the group, the management team continues to take actions to manage its costs tightly."

John Laing Infrastructure Fund said its underlying portfolio value grew 1.9% in the first quarter to £1.2bn on a rebased value of £1.19bn and in line with expectations.

JLIF said the rebased portfolio value reflected cash received from investments during the period and the appreciation of sterling against the Euro, Canadian dollar and US dollar.

Net Asset Value (NAV) was £1.2bn, including £31.3m of cash allocated to the dividend to be paid in May 2017.

The NAV per share rose 2.7p to 122.9 pence due to underlying portfolio growth over the period, and the NAV accretive equity issuance in March 2017, JLIF added.

In a separate announcement , JLIF said Andrew Charlesworth, investment adviser at John Laing Capital Management (JLCM) would be leaving on May 26 to "pursue opportunities in the global infrastructure market".

More news

17:45 FX round-up: Sterling lower on the crosses as UK data weighs

Sterling ended Tuesday lower on most key pairs in a UK market sombre all day after the deadly Manchester suicide bomb attack last night.

17:43 Europe close: Stocks end higher as euro slips

European stocks ended the day on a high note on the heels of a slate of positive economic data out of the single currency bloc.

17:34 London close: FTSE 100 limps to mildly lower close after Manchester terror attack

London stocks limped to a mildly lower close as a sombre UK came to terms with the deadly suicide bomb attack in Manchester last night.

17:12 Wednesday preview: Retail display as Marks, Dixons, Kingfisher all report

Wednesday will see three big UK retail groups reports results: Marks & Spencer, Dixons Carphone and B&Q owner Kingfisher; while the focus Stateside will be on GDP and meeting minutes from the Federal Reserve.

16:12 Strong US services growth balances softer industrials, PMI surveys show

US services activity grew faster than expected in May, though manufacturing output slowed on the previous month, according to a purchasing managers' index survey published on Tuesday.

15:11 More patents and shelf space for Ventura Life breath care brand

International consumer self-care group Venture Life announced on Tuesday that it had been granted patents in Japan, Indonesia, Australia and Mexico for its UltraDEX Sensitive range.

15:06 ThinkSmart nabs Gerald Grimes from Hitachi Capital

Retail point-of-sale lease finance provider ThinkSmart announced the appointment of Gerald Grimes as chief executive officer on Monday.

15:01 Shanta makes good progress at New Luika and Bauhinia Creek

East Africa-focussed gold producer, developer and explorer Shanta Gold announced on Tuesday that first stope ore had been produced from the New Luika Gold Mine underground operation.

14:54 FTSE 100 movers: EasyJet flies higher on RBC upgrade; M&S drops before results

London's FTSE 100 was up 0.2% to 7,508.08 in afternoon trade.

14:31 Suicide bomb attack in Manchester pop concert leaves 22 dead

A suicide bomber killed 22 people, including many children, and injured more than 50 others at the Manchester Arena on Monday night after an Ariana Grande concert.