Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Begbies Traynor eyeing more revenue growth in the second half
Insolvency specialists Begbies Traynor Group [LON:BEG] have published interim results this morning, covering the six months to 31st October. The company had seen its revenues subdued as a result of government support for struggling businesses through the pandemic, so the close on 50% uptick in revenues was widely anticipated. Further, the company is eyeing more revenue growth in the second half of the year, as acquisition activity and a further increase in insolvencies plays out.
#2. Joules full year forecast revised lower
Lifestyle group Joules [LON:JOUL] has issued a pre-close trading update for the 26 weeks to 28th November this morning. Revenues are up 35% on last year and 15% on the corresponding figure two years ago, although supply chain issues and rising costs are acting as a brake on profitability, with the full year forecast being revised lower as a result.
#3. Ocado on course for its best Christmas ever
There’s a Q4 trading statement out from Ocado Group [LON:OCDO] this morning, which the company sees as setting it on course for its best Christmas ever. Revenues are off a shade from last year, but are up by almost a third from 2019, whilst average weekly order numbers continue to advance, too. Looking ahead, the company is eyeing revenue growth next year at the top end of historical averages.