Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s a solid set of full year numbers out from AJ Bell [LON:AJB] this morning. Revenues are up 17% whilst profits have soared by 33%. Investors are being rewarded with more than a 30% hike in the dividend and the company believes the outlook for the UK investment platform industry remains positive, despite the uncertainty being caused by political uncertainty.
Keeping with the financial services sector, IG Group [LON:IGG] has published its pre-close trading update. Net revenue for the first half is now expected to be £250m against the £251m a year ago, which is likely to be considered positive given the extensive changes which have been seen in the underlying market. The company notes it has seen a particularly strong performance in Japan and emerging markets.
Dunelm [LON:DNLM] has published a short trading update today, noting that it has completed the migration of all customers onto its new digital platform and that no adverse effect has been seen with the latest iteration of its website. Gross margins are improving and critically this has seen the board upgrade profit expectations for the full year – contingent on there being no adverse effects from next week’s general election. A more detailed trading update is scheduled for January 9th.