Full year numbers have been released from the house builder Crest Nicholson this morning and will likely make satisfying reading for shareholders. However there are also signs that company continues to build its land bank, a move which has seen criticism from the government, but with proposals tabled to boost the dividend by 20%, the short term certainty here is likely to outweigh any slight prospect of government intervention.
More good news from the maker of soft drinks Fevertree, with an update for the second half of the year being served up. Gains in market share have propelled the company to the UK’s number one mixer brand in the off-trade (so excluding pub and bar sales), but will the company’s perceived exclusivity take a hit as a result? Even if this does happen, global expansion continues apace and the company has some well-defined ambitions when it comes to cracking the US market.
It’s been a good Christmas for pub operator JD Wetherspoon, with no signs of Brexit uncertainty in evidence. This was welcomed by the pro-leave chairman of the company, Tim Martin, with like for like sales (so that discounts any new pub openings or closures) for the 12 weeks to January 21st up by a healthy 6% – although once inflation in excess of 3% is taken out, the picture looks a little less rosy. The company has also cautioned that similar outperformance in the next six months will be difficult to achieve so there should be no surprise if the market takes a glass half empty view of these numbers.