Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Haynes Publishing Group
Publisher Haynes [LON:HYNS] may have hoisted the for sale flag over its business a few weeks back, so today’s pre-close interim trading statement is likely to be closely followed by any prospective buyers. The details are scant, but profits are expected to be some 37% higher for the first half than they were a year ago. The full numbers will be released on January 30th.
Associated British Foods
Associated British Foods LON:ABF is holding its AGM today, so has published a trading statement ahead of the event. Cost reductions and an increase in EU sugar prices are expected to deliver a material benefit to the business. Margins at Primark are tipped to fall a little, although again cost reductions here are set to mitigate most of the effects of a weaker Pound.
Vodafone
A short note from Vodafone LON:VOD is out today, covering another product innovation after the AWS deal mid-week. This time it’s an environmentally friendly push by the company, who will start selling a range of eco-friendly phone accessories, whilst also changing the size of the plastic sim card carriers that are used. Traditionally these have been the size of a standard credit card, but Vodafone is shrinking the outer carrier (not the SIM itself). This will reduce plastic waste by 340m tonnes per annum and aligns with the company’s commitment to halve its environmental impact by 2025.
