Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Hollywood Bowl
There’s a trading update out from Hollywood Bowl LON:BOWL, the 10 pin bowling lane operator, this morning. Perhaps most interesting is the idea that a company like this will have the potential to highlight the early signs of an economic slowdown and that’s certainly not in evidence here. Like for like sales are up 5.5% and pre-tax profits are expected to rise by around 10%, a figure that would be slightly ahead of market expectations.
easyJet
easyJet LON:EZJ has published its pre close trading update this morning, providing a little more definition over profit expectations for the full year. This number is now expected to come in somewhere around the £420m-£430m figure, which is in the upper end of the previously forecast range. Bookings for the first quarter of next year show no signs of slowing, and with capacity growth set to be limited in 2020, this may have the potential to allow the business to maintain margins even with the growing economic uncertainty.
Page Group
Recruiter Page Group LON:PAGE has published a Q3 trading update. Profits for the period are up by 2.1% against 7.4% comparative growth in Q2, with the UK and Asia Pacific dragging on overall performance. Macroeconomic and political uncertainty are cited as hampering growth – in the UK it’s Brexit whilst in China, that ongoing trade dispute with the US is taking a toll. The company admits it has limited forward visibility but expects full year profits to be in the £140m-£150m range.
