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Expert View: ITV, Petrofac, Centrica, Carillion & Avingtrans
Markets
by Gavin Lumsden on Feb 28, 2013 at 05:01
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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- ITV PLC (ITV.L)
- Centrica PLC (CNA.L)
- Avingtrans PLC (AVG.L)
- Carillion PLC (CLLN.L)
- Petrofac Ltd (PFC.L)
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