skip to Main Content

Free Newsletter: Actionable insight every morning for the self-directed investor. Find out more

Join

Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

British Land Company

Property developers British Land [LON:BLND] have this morning published half year numbers. The sector has had a rough ride through the year as a result of COVID but the note offers some optimism for investors. Portfolio valuations are off by just 7% and recent disposals have been at prices ahead of book values. The company has good liquidity headroom, although EPS has fallen by 35% as adjustment for bad debts in the future are accounted for. The dividend is being reinstated although is down by almost 50% from the interim payment made a year ago.

Speedy Hire

Tool hire business Speedy Hire [LON:SDY] has also published results for the six months to September 30th today. They note that revenues are off by 20%, which has driven the adjusted earnings per share some 65% lower. Demand continues to improve and although rentals in October were still 3.5% down on 2019 levels, utilisation levels were up, suggesting a more efficient operation. All tax deferrals have now been repaid and the company won’t be paying an interim dividend, although a full year payment is expected.


Halfords Group

Halfords [LON:HFD] has announced interim results up to October 2nd. The company fared well through the period, with revenues up almost 10% and pre-tax profits more than doubling. With this in mind, the modest erosion in margins can probably be overlooked. The company is now recruiting new staff to fill a number of service oriented roles across the store network and although the uptick in cycling has helped, the autocentres business also thrived during the period, thanks in part to recent acquisitions.

Sign up for three quick facts and more with our Free Daily Digest newsletter, every weekday morning.

Become a better investor with SharePad Designed to give you the confidence to pick your own investments, Sharepad gives you access to a wealth of information on UK, US & European stocks. Find out more

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

Stocks in Focus

Here are some of the smaller companies we are following most closely. They all represent significant growth stories in our view. Our in-depth reports go into more detail on why we like them.

Comments


Preferred Providers

Our partners are established businesses, regulated by the Financial Conduct Authority, and we are grateful for their support.

Pepperstone
FP Markets
IG
Spreadex
Trade Nation
WisdomTree
ActivTrades
Back To Top