Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
There are half year numbers out from ITV [LON:ITV] this morning with the broadcaster heralding the 7% decline in revenues as being marginally better than expected. The economic and political environment continues to present challenges to the company, whilst they are also up against tough comparatives for the period with last year seeing both the football World Cup and Saturday Night Takeaway being broadcast. Revenue growth is expected to be maintained from the studios business and also online.
There’s a very brief quarterly update out from Britvic [LON:BVIC] this morning, showing revenues down 1.5% for the period. Globally the picture is mixed, but the company is confident that it can achieve market expectations for the full year, citing the strength of its brand portfolio and exciting commercial plans despite the challenging quarter it has just emerged from.
Pub operator Marston’s [LON:MARS] has also published a trading statement this morning, covering the 42 weeks to July 20th. Modest growth has been seen across the business, but this needs to be taken in the context of last year’s hot summer and the success of England in the World Cup in terms of driving sales. The company has also elected to reallocate up to £30m of its new-build capex into driving higher returns from existing properties in a move that should enhance returns and reduce debt levels quicker than had been expected.