Below we take a look at the most frequently traded shares through Redmayne-Bentley over the last couple of weeks and consider why they have been so popular.
Galliford Try (GFRD)
Index: FTSE 250
Sector: Construction and Materials
Market Capitalisation: £1,088m
Shares in construction and homebuilding group
Galliford Try were in favour with investors last week following a strong set of final results. Pre-tax profit rose by 18 per cent to £135m for the year to the end of June, as revenue climbed from £2.39bn to £2.5bn. This enabled the group to hike its full-year dividend by 21 per cent to 82p per share. The group said that, despite the uncertainty caused by the EU referendum, trading has remained positive, helped by “the substantial infrastructure maintenance and improvement required in the UK”.
Morrisons (MRW)
Index: FTSE 100
Sector: Food & Drug Retailers
Market Capitalisation: £5,086m
Investors were cheered last week by an encouraging set of first-half results from
Morrisons. For the 26 weeks to the end of July, the group recorded like-for-like sales growth of 1.4 per cent, and an increase in pre-tax profit from £126m to £143m. Although revenue dipped slightly as a result of the closure of some underperforming stores, profit was boosted by a decrease in administrative expenses. Consequently, the group increased its interim dividend from 1.5p to 1.58p per share. However, some investors looked to capitalise on the stock’s recent good run and sold the shares.
Sepura (SEPU)
Index: FTSE SmallCap
Sector: Technology Hardware & Equipment
Market Capitalisation: £63.8m
Sepura designs, develops and supplies digital radio solutions. In a trading statement this month the group warned that full-year revenue would be hit by delays in a number of its key markets. This resulted in the group experiencing liquidity issues, although it said it is able to meet its cash forecast needs. The group lowered its expectations for earnings before interest, tax, depreciation and amortisation (EBITDA) by 60 per cent. However, some investors were buying the stock, with
Liberum analysts speculating that the group could be the target of a takeover.
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Please note that this communication is for information only and does not constitute a recommendation to buy or sell the shares of the companies mentioned.