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Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

ASOS

Online fashion retailer ASOS [LON:ASC] has published bumper results this morning, with revenues surging 19% although a slight erosion in margins meant the improvement in gross profit was limited to just 16%. The company notes that it now has warehouse capacity back to normal operational levels even whilst maintaining social distancing and whilst there’s caution over the near-term outlook as a result of the ongoing COVID disruption, the situation is backed by a commitment to further expansion and a strong cash position.

Barratt Developments

Barratt Developments [LON:BDEV] has published a pre-AGM trading update, covering the period of July 1st to October 11th. Sales activity was 20% higher than was seen at the same time last year, although this must reflect some of the pent-up demand following COVID shutdowns in the second calendar quarter. Looking ahead, the company plans to complete up to 15,000 properties in the current financial year, with a medium-term target of 20,000 being eyed.


Just Eat Takeaway.com

Just Eat Takeaway.com [LON:JET] has delivered a short Q3 trading update, showing a further acceleration in sales. Order growth accelerated to 46%, with new partnerships from the likes of Greggs and McDonalds being seen as helping drive the position. Canada posted growth of 98% against the same period last year, whilst Australia managed to see triple digit expansion. The company notes a ‘widening competition gap’ in key countries however – something that could scupper any plans for further acquisitions.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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