The FTSE 100 opened lower this morning, with only one standout performer in London’s blue chip index.
Shares in Dublin-based building material group CRH jumped 11% after it published its full year results that showed a ten percent year on year increase in profits to $2.7bn
House builder Taylor Wimpey reported signs of improved trading but still warned completions will be around 40% lower this year than in 2022. Annual results did, however, show a 22% uptick in profit to £827mln.
ITV on the hand reported a fall in 2022 profits, and warned total advertising revenue will continue to suffer because of the “macroeconomic environment.” Total group revenue grew 7% to £7.3bn for the year ended 31 December.
GSK’s spinoff Haleon declared an inaugural dividend as price increases and efficiencies are enabling higher cash flow and profits, and in small caps Metal Tiger said it is cancelling its AIM listing. The natural resources investor says it needs greater flexibility to manage its portfolio and to implement a new investing policy.