Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
ASOS
Full year numbers have been released by ASOS LON:ASC this morning and the company continues to face challenges. Growth has been more disruptive than had been anticipated so although sales are up 13%, profits haven’t kept pace with a margin squeeze being seen. The company does however believe that the root causes of these issues have been identified, meaning that it is now well positioned for further growth.
Barratt Developments
Ahead of its AGM later today, housebuilder Barratt LON:BDEV has published a trading update. Sales and new site openings are on track with expectations and full year dividends – including a special payout – are being proposed of 46.4p. With shares currently trading at just over the £6 mark, few investors will balk at the yield.
SEGRO
Commercial property operator SEGRO LON:SGRO has published a quarterly trading update, reporting continued growth from the shifting ‘structural trends of urbanisation and technological revolution’. Rental income is up against the same quarter a year ago, but compared with the corresponding nine month period in 2018, the numbers aren’t quite as flattering.
