MoPh Markets

Legal & General Report Increased Profits, IHG Benefit From Travel Rebound, Crestchic Surge 17.3%

Here are the top stories from London Listed Stocks on Tuesday…

Legal & General

  • Reported an operating profit of £1.16 billion, an 8% increase from £1.08 billion in H1 2021.
  • Earnings per share also gained 8% to 19.28p.
  • In addition, the company announced a dividend of 5.44p, a 5% boost from 5.18p in the previous year.

InterContinental Hotels

  • The hotel company reported revenue of $1.79 billion, a growth of 52% from the same period in the prior year.
  • Meanwhile, operating profit rose 162% to $361 million after travel rebounded.
  • Furthermore, IHG announced its share buyback program of $500 million after healthy profits.
  • Shares of IHG fell 2% on Tuesday morning.

Bellway

  • The property developer reported record housing revenue, which rose by 13% to over £3.5 billion.
  • Furthermore, Bellway announced a strong forward sales position, with an order book comprising 7,223 homes at a value of £2.11 billion.
  • Bellway has recovered the majority of its losses after its share price fell considerably.

Crestchic

  • Crestchic has reported a trading update that is significantly ahead of previous expectations.
  • Trading momentum has accelerated, and the group benefitted from securing its largest ever hire contract.
  • This record contract win and the strength of ongoing trading have led the Board to significantly increase its profit expectations for the year as a whole.
  • Crestchic shares have surged 17.3% on Tuesday following the update.

Leave a Reply