Three things you need to know in the financial markets this morning from investment writer, Tony Cross
There’s a solid trading update out from the online fashion retailer boohoo this morning. Revenues have jumped an impressive 47% for the 10 months to December 31st, with growth being seen across all operating divisions of the company. Perhaps more notably, margin growth has been seen in the vast majority of operations too. Guidance for the full year has been improved – again, proof that the retail sector isn’t dead, but it’s evolving rapidly.
Funeral operator Dignity has published a trading update today and after the company was rocked by changes to pricing last year, the statement may provide some optimism for investors. Market share remains robust, average income is higher than expected and overheads have been lower than forecast, too. This last point probably needs to be taken in the context of charges being pushed from 2018 into 2019, but the company expects to report full year profits of £79 million, ahead of current market expectations.
A second quarter trading update from the recruitment and staffing company Hays has been posted, covering the last three months of 2018. Fee income growth has been seen across all territories, even the UK despite the ongoing Brexit uncertainty – although the company does concede that this is being measured against easier comparatives.