Updates from Royal Bank of Scotland and Tracsis

Updated: 
A very modest recovery for the FTSE 100: the Board climbed five points yesterday, up +0.08%, to 6,304. Miner Evraz climbed +5.10% to 119.5p while RBS, following boss Stephen Hester's ejection, fell -3.26%.

Across the water, the Dow Jones finished +1.21% up at 15,176 points yesterday while, overnight, the Nikkei is up +2.0% at 12,693.

We commence with an update on RBS, following the surprise news of boss Stephen Hester's departure. As of last night shares finished at 315p, a -3.3% drop, though its share price had fallen more than -7% earlier in the day.

Some investors are concerned Hester's departure leaves more question marks about future operations. Officially, Hester says his departure provides "a window for the company to put in place a chief executive that can give fresh energy to the challenge of leading RBS."

So far it's claimed the decision to push Hester out was made by the RBS Board and that George Osborne was not involved. It's expected Osborne will reveal more details about RBS' planned privatisation next week - likely before the next election.

Next, unaudited annual numbers for Walker Crips Group up to 31 March. The financial services group says the disposal of Walker Crips Asset Managers Ltd fund management subsidiary in April 2012 saw a one-off gain of in excess of £11.7m.

This helped deliver record pre-tax profits of £9.1m (2012: £0.6m) and earnings per share of 25.21p (2012: 0.77p). Group revenue stable at £20.3m (2012: £20.3m) with year before revenue of £3.5m.

There's a record dividend of 8.87p per share (2012: 1.84p per share) including 7.5p per share special interim dividends (2012: nil) paid from disposal profits.

Finally, software and tech transportation player Tracsis. The integration of Sky High is underway and progressing well claims the company. The elimination of surplus PLC related overheads combined with other synergies has enabled cost savings and performance improvements, the company claims.

Looking ahead, the Group predicts revenues for the year ending 31 July are forecast to be in excess of £10m and underlying profits in line with market expectations.

"We look forward to updating the market in due course," says chief exec John McArthur, "on further developments, and in concurrence with the positive industry indicators, we will work to drive further shareholder value through organic growth and acquisition."

SPONSORED FINANCIAL CONTENT