The FTSE-250 listed online trading and investment platform CMC Markets issued interim results this morning, which gave investors something to cheer. The performance was seen as being ahead of market expectations, income added 5% and investors are set to receive a 77% uptick in the dividend. On top of this the note also highlighted strong momentum as the company moves into H2, both with legacy business and new partnerships, a combination which has seen FY income projections being upped by 10%. The CMC Markets share price was 25% higher shortly after the opening bell.
Sticking with FTSE-250 and the financial services sector, PayPoint, the provider of multichannel payment services to UK retailers, issued its interim results this morning as well. Whilst revenue growth was recorded, pre-tax profits fell and underlying EBITDA isn’t growing at quite the pace that had been expected. With the dividend being hiked and management committing to further shareholder returns the question has to be whether today’s drop in valuation is looking a little overdone even in light of UK economic weakness. The PayPoint share price was down 17% in early trade.
Billed as the largest and the “most successful tabletop fantasy and futuristic battle-games company in the world”, the fact the company is listed in the FTSE-100 is testament to its sheer scale. This morning’s interim results offered another rallying cry to investors, even if the word-count was somewhat short. Core revenues for the period are expected to be at least £310m, up from the £269.4m posted a year ago, whilst pre-tax profits are expected to add a little over 5% to £135m. The fact licensing revenues have dipped doesn’t seem to be a cause for concern and by 9am the Games Workshop share price was 11% higher.
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