Proactive Investors - FTSE 250-listed manufacturing group Marshalls PLC (LON:MSLH) has disclosed its financial results for the year ended 31 December 2023.
Revenues fell from £719.4 million in 2022 to £671.2 million in 2023, marking a 7% decline.
Adjusted profit before tax saw a significant decrease, falling by 41% to £53.3 million in 2023.
Marshalls decided to slash its full-year dividend by 42% to 5.7p as a result, contributing to a total year dividend decrease of 47% to 8.3p.
Aviva exits Singapore Life
Aviva (LON:AV) this morning announced the completion of its exit from Singapore Life Holdings through a £937 million disposal.
The FTSE 100-listed insurance firm first announced the exit of its 25.9% stake in Singapore Life to Sumitomo Life in September 2023.
Aviva’s chief executive Amanda Blanc said it was to simplify the business’ global operations while focusing on the UK, Ireland and Canada markets.
FTSE 100 to open higher
The FTSE 100 is expected to open 13 points higher at 7,745 this Monday after closing flat on Friday.
Inflation data is due this Wednesday, with hopes pinned on a successful year-on-year fall to 3.6%.
This print will set the scene for Thursday’s Bank of England gathering, when policymakers will declare whether interest rates hold at 5.25% or fall for the first time since August 2023.
Though the BoE is widely expected to hold at 5.25%, the attention will be on forward guidance and any indication of a policy pivot in the near future.
On the company news front, Seeing Machines (LON:M2Z) has its interims out this morning, while Marshalls PLC (LON:MSLH) publishes its annual results.