Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
B&M European Value Retail
B&M European Value Retail [LON:BME] have updated the market with Q1 figures this morning. The company saw sales up 3.1% for the 28th March-26th June period against the 2020 figure, so the fact there’s still growth being recorded at a group level as “non-essential” retail has reopened is something worth noting. Overall sales also remain significantly above pre-pandemic levels.
Full year numbers from airline and tour operator Jet2 [LON:JET2] are out today. The company notes losses of £373m, down from a profit of £264m a year earlier and with the overseas leisure travel market largely shuttered this is no surprise. Passenger numbers for the year to March 31st were 91% lower than the comparable period. The company notes that results for the current financial year will be very much dependent on changes made to UK travel restrictions, so today’s government announcement may have a far greater influence over the share price than these results which whilst disappointing will have been well-anticipated.
Fuller, Smith & Turner
Pub Co Fuller, Smith & Turner [LON:FSTA] has published full year numbers to March 27th today. Again it’s a tough read with the estate having been closed for an average of 71% of the year, whilst sales slumped from £319m to £73m. The situation has however improved with all premises now reopened and sales for the 12 weeks to July 3rd running at 76% of 2019 levels. Debt is lower than it was pre-pandemic whilst the company continues with a pipeline of both refurbishment and rolling out new sites. There’s optimism that an end to social distancing requirements in 11 days’ time will provide a further boost to business.
Sign up for three quick facts and more with our Free Daily Digest newsletter, every weekday morning.