ITV, Inchcape and Costain

“The FTSE100 was up in early trading as investors mulled US President Donald Trump’s first address to the US Congress and awaited a raft of data on economics front, including the shop-price index and mortgage approvals,” says AJ Bell Investment Director Russ Mould.

“ITV increased its earnings in the year to the end of December despite a declining ad market. External revenue was up 3% and its production business, ITV Studios, is now a global player of scale with 50% of total revenues coming from outside the UK.  The group is building its pay and distribution business and will soon be launching BritBox in a joint venture with its old sparring partner, the BBC. The service, which will feature the best of British TV from both broadcasters, will launch in the US initially before being rolled out internationally.

“Car dealer Inchcape was one of the FTSE250’s biggest risers in early trading after it sustained its track record of growth in 2016. Inchcape is performing well in emerging markets and profits from used vehicles and aftersales are also strong, reflecting the group’s focus to deliver the full potential of all revenue streams. Inchcape’s shares were up by more than 2.3% in early trading.

“Costain has hiked its final dividend after a strong performance in 2016 with significant increases in both revenue and underlying operating profit. The group's success is a direct result of its 'Engineering Tomorrow' strategy and the deliberate acceleration of growth, both organically and by targeted acquisition.” 

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