Full year results are out from the construction materials group Breedon this morning, with the note highlighting how the company’s move into the US has bolstered revenues despite a decline in volumes. Management are bullish on the outlook, noting that the UK market likely hit its floor in 2024, giving confidence to increase dividends by 7%. The company also announced the acquisition of Lionmark Construction in the US for $238m in what it described as an earnings enhancing transaction, more than doubling the company’s US revenues. Shares in Breedon were 10% higher shortly after the open.
Asset managers Quilter published their full year numbers this morning, with a 17% increase in adjusted profits plus a 200 basis point rise in operating margins. Net inflows were also strong and a 13% increase in the full year dividend has been proposed, too, in line with the EPS growth. The Quilter share price was up more than 7% in early trade.
It was the briefest of trading updates which management at Games Workshop published this morning, but it certainly delivered an impact. The FTSE-100 miniature wargame manufacturer noted that a solid start to calendar year 2025 had positioned it well for the full year and they now expect pre-tax profits to be ahead of expectations. Games Workshop shares were up 8% by 8.30am.
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Trading Update - - Games Workshop Group (GAW)
