Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Bellway sees healthy order book
Preliminary results are out from Bellway [LON:BWY] this morning for the year ended 31st July. Revenues bounced back well, but failed to match the level set in 2019 which may be a cause for some concern if the builder has failed to capitalise fully on the pent up demand which has been widely reported. Arguably however it’s more important to look forward, so the fact the company is noting a healthy order book, up around £100m on a year ago and more than £600m on the 2019 figure is likely to find support.
#2. 888 Holdings total revenues are up 7% in Q3
888 Holdings [LON:888] has issued a Q3 trading update today, covering the three months to 30th September. Total revenues are up 7% for the period and 28% for the year to date. The B2C betting comparator has shown a decline for the quarter, but that comes against tough comparatives which saw a condensed sporting calendar in the same period a year ago. Performance was in line with management expectations although the fact the company has stopped providing services in the Netherlands is set to take a toll on EBITDA in the short term.
#3. Wise transfers up 36% on last year
Cross border payments provider Wise [LON:WISE] has published Q2 numbers today, with the company reporting transfers of £18bn, up 36% on a year ago and 10% on the previous quarter. There’s not too much detail here given the nature of the update, but falling customer costs of an average 5bps could point to a squeeze in margins. However, the narrative suggests this has been an exceptionally large decrease in charges for such a short time frame and so long as volumes keep marching higher at this rate, there’s unlikely to be much concern from investors.