Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Fuller, Smith & Turner
Fuller, Smith and Turner, the pub group and brewers more commonly known just as Fullers, have published their half year results this morning. Like for like sales are up across the board, but arguably the most interesting line here is in beer and cider volumes for the brewery division. The amount sold increased by a mere 0.2%, but revenues rose 7% and operating profits jumped 9%. Front loading the investment program has taken a toll on profits, although with a growing property estate, this should soon yield dividends.
Interserve
Support services and constriction group Interserve has published a Q3 update this morning. The company continues to trade in line with management expectations and although the energy from waste division has hit some problems, as a relatively small part of the company – plus one which should have long term potential – investors may be willing to overlook any shortfall here.
Ibstock
There’s a trading update from brick manufacturer Ibstock out today, announcing the sale of its US business for $110 million with proceeds being used to pay down debt. The company remains on course to meet full year expectations and despite the uncertainty associated with Brexit, is upbeat about the ongoing prospects for the UK house building market.
