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Expert View: ITV, Petrofac, Centrica, Carillion & Avingtrans

A roundup of analyst opinion on shares and company news.

 
Expert View: ITV, Petrofac, Centrica, Carillion & Avingtrans

Apologies for the different layout for Expert View today. Harry Brooks is away. Please click on the share tickers to see the company information and factsheets.

ITV impresses with special dividend

ITV (ITV.L) delighted investors with a £156 million special dividend after the commercial broadcaster increased full-year profits by 13% to £520 million and hiked adjusted earnings per share by 16% to 9.2p. Three years into its transformation plan, chief executive Adam Crozier said every department had grown and contributed to the bottom line.

Richard Curr, head of dealing at Prime Markets, said: 'While the rapid share price growth in some way reflects this progress, ITV is still very much work in progress, and along with most analysts, Prime Markets believes there is more to come. As such, the momentum from the impressive result and the ebitda [earnings before interest, tax, depreciation and amortisation] growth today should continue to drive the share price higher to our four-week price target of 130p. Buy.'

ITV shares fell 1% of 1.25p to 119p after Crozier dampened takeover speculation in the wake of Liberty Global's bid for Virgin Media. He said ITV had not been approached.

Next: Petrofac punished for vagueness

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2 comments so far. Why not have your say?

Rightcharlie1

Mar 02, 2013 at 09:31

Maybe it has something to do with the re-engineering and loss of work caused by its persistent use of low cost Indian laboour!!!!

we've already kissed goodbyr to one of their bids because it was to be executed in Chennai and they clearly misinterpreted the design breif!!

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Rightcharlie1

Mar 02, 2013 at 10:01

In addition, there is a trend for many clients who are paying good money wanting a good job. They are imposing passport vetting for those employed on their contracts with stipulations these passports and their holders must be Western! This not without reason (touched on above)!! With Petrofac's head quarter office in Charger and large offices in Chennai, Mumbai and Delhi, and small facilities in Woking and Moscow, they may need to remodel their engineering business sooner rather than later!!

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