Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Interim results have been published by Burberry [LON:BRBY] this morning, showing that the company remains on track to meet expectations for the full year, despite the decline in sales seen in the Hong Kong market. Revenues are up 5% but margin improvement has helped drive operating profits significantly higher. Shareholders will see a 3% increase in the mid-year dividend.
Young & Co’s Brewery
Half year numbers have been printed by brewers Young & Co [LON:YNGA] today, too. Despite some tough comparatives after the vintage summer of 2018, the business has fared well over the last six months. Revenues are up over 7% whilst adjusted earnings per share are up 3.7%. Despite the uncertainty of the economic backdrop hitting sentiment amongst consumers, the business remains confident that it can continue to deliver long term growth. The interim dividend has been increased by 6%, reflecting this confidence.
A Q3 trading update has come from the Card Factory [LON:CARD] this morning. Year to date revenue growth is up 5%, supported by new stores being opened and growth of the online site. The business continues to face pressure from external factors such as minimum wage legislation and rising storage costs, but the full year performance is expected to be in line with previous expectations.