Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Full year numbers from Card Factory suggest that headwinds which have dogged the business in recent years are abating with profits printing in line with expectations. Revenues are up 3.3% and the dividend is being maintained at last year’s level. The company is pushing into online channels although results here are mixed and the decline in earnings per share is also cause for concern. The dust might not be settling for the High Street quite yet.
JD Sports has also published full year numbers today. Analysts had been eyeing a strong uptick in revenues, but the company managed to beat this print by around 5% anyway. Store roll outs continue across Europe and Asia, whilst the company is convinced that its acquisition of the Finish Line business in the US is also capable of delivering improved levels of profitability.
Recruitment specialists Hays have published Q3 results this morning showing 6% fee growth year-on-year and a generally good performance across global territories. Performance in the UK is ticking higher despite Brexit uncertainty, with a notable uptick in public sector fees. Australia and New Zealand is the laggard, although the company is battling against some tough comparatives. The global macro situation could inject some uncertainty here, but for now the outlook seems positive.