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Debenhams

Yet more bad news from the high street with Debenhams producing a trading update this morning. The statement accompanying the numbers makes for bleak reading, noting that trading in May and June has been below plan despite weak comparatives (numbers from a year ago). The company has been forced to revise down its pre tax profit estimates for the full year to £35-£40m, against market expectations of around £50m. That will likely be interpreted as a profit warning and shares should expect to be squeezed again today.

FlyBe

Regional airline FlyBe has published full year results this morning and although many metrics are still pointing in the right direction, the company continues to post losses. Revenues are up 8.3%, revenue per seat is up more than 10% and the load factor is up 6%. However, the cost per seat is also up by almost 11% as rising maintenance charges and a weaker pound take a toll. This remains a tough business to be in, even for a niche carrier.

Hornby

Hornby, the model train maker and every headline writer’s favourite stock has posted full year results this morning. It’s more a case of ‘off the rails’ than ‘full steam ahead’ however, with insufficient stock impacting recent sales. Gross margins are ticking higher, but with pre-tax losses up from £9.5 million to £10.1 million, the business still has work to do to get it back onto the right track.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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