Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Food producers Cranswick [LON:CWK] have published a Q3 update this morning, complete with the news that profits for the full year are now expected to be higher than current market forecasts. Strong export sales, driven by an outbreak of swine fever in China, have bolstered the position, although the company notes that this situation could change if the infection reaches the UK. Full year results to 31st March will be published in late May.
Keeping with food, Premier Foods [LON:PFD] has also issued a Q3 update today showing continued growth for the company. Group sales are up 2.6% for the period, with Mr Kipling sales ahead by an impressive 10% over the period. One line that catches attention in particular is the 8.8% jump in non-branded sales for sweet treats compared to a year ago. However this was against weak comparatives and international business also struggled, down 17% on the same period a year ago. The company remains confident that it can deliver progress for the financial year as a whole.
Rounding out the week is a Q3 update from Experian [LON:EXPN], described as a ‘global information services company’ but perhaps better known as the credit checking giant. Total revenue growth for the period was up 9% on a constant currency basis, helped along by a series of acquisitions which have been made globally. Whilst the company should be fairly well insulated against any economic downturn, it’s worth noting that sluggish UK performance was in one part attributed to a lacklustre automotive market. However, given its geographic and industrial spread, the business should be well enough diversified to ride out any speedbumps like this.