The FTSE 100 is down this morning, undoing yesterday’s gains. Ocado is reporting flat revenue and a loss for 2022 of £500mln, news which has knocked nearly 10% of its share price this morning.
Investment group Abrdn says its agreed to sell its discretionary fund management arm to LGT, a private banking group owned by the Liechtenstein royal family, for £140mln. The sale involves the transfer of some £6.1bn worth of assets.
Travis Perkins (LSE:TPK) reported a fall in operating profits despite a 9% uptick in revenue. The builder’s merchant put this down to lower property profit and higher restructuring charges.
Elsewhere, earnings at aquaculture biotechnology company Benchmark Holdings grew by 61% in its first quarter - the group says the outlook for the full year is encouraging.
That’s all for this morning, today’s report was written by Jai Singh and presented by me, Thomas Warner.