Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s a very brief trading update out from the online fashion retailer boohoo [LON:BOO] this morning. It notes that recently acquired brands have now been successfully integrated onto the platform and that record sales were seen across the black Friday weekend. The company remains on course to deliver against market expectations.
Media reports at the weekend noted that Cineworld [LON:CINE] was in battle with some shareholders and today’s update could serve to exaggerate the narrative here. Over the last 11 months, total revenues have slumped globally by almost 10% , but the company believes that synergies following the acquisition of the Regal brand in the US will be bigger than previously thought. The dividend policy is being left unchanged, although full year figures are now expected to be slightly below management expectations.
Plumbing supplier Ferguson [LON:FERG] has published its first quarter update this morning, showing revenues up 5.3% and underlying trading profits almost keeping pace, up by 4.8%. Management notes that the company continues to take market share from competitors and its order book remains solid. Full year expectations remain unchanged.