Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s a trading statement out from ASOS [LON:ASC] this morning, covering the four months to the end of June. Total sales are up by 11% for the period, although the company does flag concerns over performance in the EU (ex-UK) and North America. New distribution networks are causing problems which have left the company to factor in a further £12 million of transformation cost. That’s going to knock profits significantly for the year as a result.
EasyJet [LON:EZJ] has published a Q3 trading statement this morning, illustrating good progress for the airline, despite some tough comparatives. Total passenger income is up by over 11%, with per seat revenue adding 0.7%. That has been driven by the timing of the Easter holidays, a move to a new accounting standard and also higher ancillary sales. Brexit uncertainty continues to weigh, but the company expects full year profits to be in line with previously stated expectations.
Moneysupermarket.com [LON:MONY] has published half year results today, showing solid progress for the company. Sales are up 15% but profits have outperformed, rising 18%. That’s going to result in a 5% dividend increase for shareholders and the company is confident that full year expectations will be delivered against.