Three things you need to know in the financial markets this morning from investment writer, Tony Cross
The overriding theme in UK retail right now might be one of doom and gloom, but Dunelm Group has this morning published its second quarter trading update and the purveyors of soft furnishings seem to have some good news to report. Total revenue growth across the Dunelm business was 9.6%, whilst margins across the group have picked up by 1.9%. The company notes caution about the consumer outlook but profits for the first half are expected to come in around £70m, up £10m on the same period a year ago.
Avon Rubber, the company that makes products ranging from gas masks for the military to milking teats for farmers, has this morning posted news of another contract win. The deal is worth up to $92.7million over the next seven years, for the supply of oxygen masks for fighter pilots plus related engineering support to the US Department of Defence.
More contract news (it’s Monday, so earnings are thin on the ground) but Equiniti has won a gig with Ofcom. It will be running the Program Making and Special Events (PMSE) grant funding scheme for the communications regulator. Details of the contract size haven’t been disclosed, but with the share price languishing close to 12 month lows, the news is probably to be welcomed by shareholders.