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