Three things you need to know in the financial markets this morning from investment writer, Tony Cross
There’s a half year update from the vehicle and plant leasing firm, Ashtead, out this morning. Revenues are up 18% and pre-tax profits have risen 19% over the period, sufficient to leave the group to upgrade its full year expectations. Investors are being rewarded with an 18% uptick in the dividend.
More good news in a trading update from RM, the tech provider servicing many educational outlets. Following a successful acquisition and strong international growth, the company is now achieving double digit profit margins. The board now expects full year results – which will be released in early February – to come in slightly ahead of expectations.
Flooring specialists Carpetright have published half year results today. The company has been battling for survival this year, having been through a CVA and raising emergency cash to keep the business ticking over. The numbers however still don’t look great – 65 underperforming stores have been closed, yet like for like sales are down almost 13%. Mainland Europe operations are performing better than the UK, but with the domestic market still accounting for 75% of revenue, this may offer little comfort to shareholders.