Three things you need to know in the financial markets this morning from investment writer, Tony Cross
AA
The AA has published half year numbers this morning and despite the extreme cold weather at the start of the year, the business is on track to meet expectations for the full year.
That’s despite some significant hits taken by higher costs and increased workload relating to the harsh winter.
Progress in the wholesale B2B market for roadside assistance is worthy of note with fee income here up 5%, whilst the number of motor insurance policies written jumped 7%.
SSP
There’s a pre-close trading statement from SSP, the operators of bars and retail outlets in many airports and stations worldwide.
A growing number of global air passengers is serving to bolster trade in airports, but with rail travel numbers remaining stagnant there’s little to report on the other side of the business.
Ultimately this is a business that is very reliant on factors it has no control of. So long as the global economy keeps growing and people keep travelling, then growth appears to be assured.
Boohoo
Half year results from Boohoo, who were making headlines last week over the proposed bonus award for its newly appointed CEO if share price performance targets were met.
With revenues up 50%, gross profit up 56% and margins improved by 2%, he’s certainly off to a good start.
Full year guidance has been increased with revenues expected to be around 3% higher than previously forecast.
Assuming shareholders aren’t distracted by the idea of a £50m payout for the boss if all goes well, today’s news should be well received.
