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Associated British Foods

There’s a trading update from Associated British Foods this morning, the company which owns an interesting range of businesses with Twinings Tea at one end of the spectrum, Primark at the other and AB Sugar somewhere in the middle. Revenues are up for the first three quarters by a respectable 3%, but this has been held back by falling sugar prices. Surplus capacity has seen revenue in this sector drop by 17% in the quarter, overshadowing improvements elsewhere. Year to date sales at Primark were up by 6% – clearly there’s still life in pockets of retail.

Persimmon

No signs of a slowdown in the housing market when it comes to Persimmon’s mid-year update which was released this morning. Revenues for the last six months plus forward sales are both up 5% from a year ago, and the bumper dividend payouts to investors continue apace.

easyJet

Solid passenger numbers for June are out from easyJet this morning, painting a similar picture to those of its peer Ryanair which were released earlier in the week. Traffic is up 2.3% from a year ago despite a sharp increase in the number of cancelled flights, whilst the load factor has bumped up to 95.4%. That’s still a little way short of Ryanair’s 96%, but well ahead of global industry averages around the 80% mark.

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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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