Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Imperial Brands pre-close statement offers little cause for excitement
There’s a pre-close trading statement out from Imperial Brands LON:IMB this morning. Not too much to get excited about as everything seems to be running to plan. Critically, cash conversion remains good, allowing the company to continue its deleveraging and growth of its next generation products remains sound, too. The full year outlook remains in line with the numbers offered just a few weeks ago.
#2. Lookers record profits, but cost of living squeeze provides challenges
Full year results are out from Lookers LON:LOOK this morning showing how the shortage of vehicles and upward pressure on prices has made for a record year for the company. Revenues added around 10% but pre-tax profits rose by a factor of seven, resulting in a 2.5p dividend being declared. However the company is cautious over the near term outlook as supply remains constrained – this sitting on top of the cost of living crisis plus geopolitical uncertainties. Momentum may have been sustained but these are going to be tough comparatives to beat.
#3. Hilton Food Group confident full year numbers bolstered by acquisitions
Hilton Food Group LON:HFG has issued preliminary results today. Despite a challenging backdrop in terms of confidence and supply chain issues, the company has recorded another year of growth, with revenues up by more than 20% and pre tax profits adding 13%. A series of recent acquisitions should ensure that growth in the near term remains solid and shareholders are being rewarded with a 14% uptick in total dividends for the year.
