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Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

Greggs

There’s a Q4 trading update out from Greggs [LON:GRG] this morning, covering the period to January 2nd 2021. Despite the huge uncertainty of last year, the company has put in an admirable performance with sales for the period of £293m against £344m in the comparable quarter of 2019. The company is also developing its online delivery partnership with Just Eat, which accounted for 5.5% of company managed shop sales in Q4. CCFF loans from the Bank of England have already been repaid and the company has some £37m in cash although the ongoing impact of COVID on the business mean that profitability isn’t likely to recover before 2022.

Topps Tiles

Topps Tiles [LON:TPT] have a Q1 update out today, covering the period to December 26th. Sales were up 19.9% against the previous year, a number that appears to have benefitted from a soft comparative and also likely pent-up demand from the summer. Stores remain operational through the current lockdown although on a limited basis and this is anticipated to hit both sales and margins. The company notes that it is now debt free, has £28.5m of cash on hand and remains committed to its target of owning 20% of the UK tile market by 2025.


Aggreko

Some good news from Aggreko [LON:AGK], the mobile power supply company, this morning. They have agreed revised terms with the Tokyo Olympics organisers that will see the company work on contracts valued at around $315m, up from the $200m originally slated. This is a major event for the company and one that needs to proceed as planned if the full year pre-tax profit target of £170m-£190m is to be met.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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