Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
A nine-month quarter trading update from funeral provider Dignity [LON:DTY] has been published and despite a 5% fall in mortality from the same period a year ago, revenues are down 8% and profits dipped by an even more marked 30%. The board’s full year outlook remains intact, although the falling mortality rate is clearly providing challenges for the business.
Another bumper set of results from Greggs [LON:GRG] this morning in a short set of interims covering the six weeks to November 9th. Total sales for the period are up 12.4% and as a result there’s a profit upgrade from the baker, too. The sales growth is being driven by increased customer visits and that’s despite working against a strong comparative for the same period a year earlier.
As reported in the weekend’s media, AIM quoted InfraStrata [LON:INFA] has agreed to purchase the famous Belfast ship builder Harland and Wolff from administrators. To fund this, the buyer has committed to a £6m capital raise via an equity placing. The success of this raise can expect to be closely followed, given the iconic nature of the brand. Their history runs back to the 1850’s, with the company having built the Titanic, whilst H&W also played a significant role in building ships for the navy during both World Wars.