Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Dr Martens [LON:DOCS] has published its first set of full year results as a listed company, for the 12 month period to March 31st. Despite a year of turmoil for many retailers, the company has seen revenues grow by 15%, thanks in part to adding focus on online sales. However as the CEO notes, the product itself has a timeless design and the company sees itself very much as a brand custodian, something which has helped underpin performance. The guidance remains unchanged and the company hopes to start paying a dividend in the current financial year.
The Trainline [LON:TRN] has issued its latest quarterly trading update covering March, April and May. Travel by train took a nosedive during the pandemic, so as the economy opens back up again, the results here are of added interest. There’s been a colossal 269% uptick in sales from the same period a year ago, but arguably what’s more interesting is the fact that in May ticket volumes were 92% of the 2019 (FY2020) figure, showing strong outperformance against industry passenger volumes.
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Restaurant and bar operators Loungers [LON:LGRS] has issued a trading update, highlighting how well the group has performed since the unwinding of some restrictions on indoor hospitality. For the period May 20th-June 16th, sales were 26.6% higher than the equivalent 2019 figure, highlighting pent up demand and the benefits of the VAT reduction. The company’s updates are notable for their pragmatic stance over the ongoing restrictions and management look forward to a return to normality on July 19th. Full year results will be published on July 21st.
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