Investing.com -- Here is a summary of regulatory news releases from the London Stock Exchange on Thursday, 21st November. Please refresh for updates.
Home builder Countryside Properties (LON:CSPC) raised its dividend by 51% to 16.3 pence a share after reporting a 14% rise in full-year net profit to 170.4 million pounds on the back of a 33% rise in completions.
Retiring CEO Ian Sutcliffe said the new financial year had also started well, with net reservation rates for the first seven weeks ahead of the same period last year.
“With new site openings in the first half, we expect delivery to be weighted to the second half,” Sutcliffe said. “Potential economic and political uncertainty aside, we remain confident of delivering further earnings growth in 2020.”
The company said its forward order book had risen 30% year-on-year to stand at 1.17 billion pounds.
Metals group Johnson Matthey (LON:JMAT) said it’s on track to hit market expectations for profit in the year ending next March, after posting a 3% rise in underlying revenue to 2.12 billion pounds in the first six months.
However, underlying operating profit fell 5% to 265 million pounds and underlying earnings per share fell 12% to 95.8 pence. Net debt was higher than expected and cash flow slightly weaker than expected as surging prices for precious metals such as palladium saddled it with higher working capital requirements.
CEO Robert MacLeod said the group expects a stronger second half, free of one-off effects and is sticking by its medium-term target of “mid- to high single-digit growth” in annual earnings per share.
- Water utility Severn Trent (LON:SVT) said underlying pretax profit fell 4.3% to 286.3 million as a result of increase investment, partly offset by a 20 basis point drop in its borrowing costs to 3.7%.