Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Dart Group
Dart Group [LON:DTG], parent company of airline Jet2, has published a trading update to the market this morning. Strong late season bookings and increased demand in the wake of the collapse of Thomas Cook has left the business to say that for the year ending March 31st 2020, it expects profits to exceed the current market expectations. Brexit uncertainty is keeping the longer term outlook in check, but investors may find something to cheer here.
Entertainment One
Q1 results from Peppa Pig owners Entertainment One [LON:ETO] are out today. The business agreed to be acquired by Hasbro back in August and today’s numbers may have many investors breathing a sigh of relief. Revenues have slipped by 7% against the same period a year ago, wiping out profits, with lower broadcast and licensing sales appearing the driver here. The report notes that Peppa has maintained her momentum in core markets – many parents will be relieved to know she’s not going anywhere soon.
TP ICAP
TP ICAP LON:TCAP has this morning advised that it has settled an FCA investigation regarding the actions of some of its former managers. The company has agreed to pay a fine of £15.4 million, which will be reported as an exceptional item in the current year’s accounts. The conclusion of historic issues like this can be seen as a positive by the market as it removes a degree of uncertainty.
