Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There’s a trading update out from Eve Sleep [LON:EVE] this morning, covering the first six months of the year. Group revenues were up 13% on last year and 15% compared to pre-pandemic levels. The company notes there are some supply chain issues as it had previously anticipated and price inflation is also taking a toll, but management expect an in-line performance for the second half of the year.
Fashion house Burberry Group [LON:BRBY] has published a Q1 trading update, noting an exceptionally strong uplift in sales of 90% on a year ago, although this reflects the early days of the COVID pandemic. More appropriate measures include Q1 sales up 1% from 2019 and full price sales up 26% from two years back as the brand attracted younger shoppers and wound down promotional programs. The company is upping forecasts for wholesale revenues due to a stronger order book, but notes that currency headwinds are likely to be more pronounced.
International marketing group DCC [LON:DCC] has published a short interim management statement covering the three months to June 30th ahead of today’s AGM. Volumes have recovered well across all divisions when put against the comparative period last year and management expect the year to March 2022 to see strong operating profit growth and continued development activity.
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