Three key news stories unfolding as the UK stock market opens – Sponsored by MEXEM. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
Full year results from BAE Systems [LON:BA.] have reflected the continued demand for defence spending globally with revenues up 10% and the order backlog growing to a record of more than £83bn. That momentum is expected to continue with further sales growth of 7%-9% forecast for the year ahead, shareholders are in course for a 10% increase in the final dividend and total capital returns for FY25 will exceed £1.5bn.
Galliford Try [LON:TRY] has this morning announced its appointment onto the Department for Education’s Construction Framework. This £15.4bn spending commitment is to fund the upgrade of educational facilities in the UK although it’s worth adding that Galliford’s allocation here is in the region of £25m.
A mixed bag from Glencore [LON:GLEN] this morning as whilst the commodity giant’s Copper operations have benefitted from soaring metals prices, that has been overshadowed by weakness in the coal market. So whilst revenues are 7% higher, adjusted EBITDA fell 6% although good progress was evidently made in the second half of the year, too, whilst the cost and efficiency drive which identified $1bn worth of savings is expected to complete by the end of this year, too.
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