Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
ITV
ITV LON:ITV has published its Q3 trading update this morning, with the numbers coming in as expected. Registrations for its ITV Hub service have already hit the full year target, whilst a strong performance by the studios division in the second half of the year is also noted, although this will make early 2020 trade more challenging. The rugby World Cup delivered some significant audiences thanks to England making it to the final, although with the vast majority of the tournament happening in the company’s Q4, any upside isn’t reflected here. That robust outlook may offset any concern over the slight fall in revenues, although economic contraction in the medium term is likely the bigger risk.
Experian
Half year numbers from credit agency Experian LON:EXPN are out today, showing healthy growth across the board. Revenues are up 6%, although there are signs of a margin squeeze with pre-tax profits up just 2%. Full year revenue guidance has been refined, pushing this figure towards the upper end of previously stated metrics. The interim dividend is being increased 4% from the same point last year.
Vodafone
Half year numbers from Vodafone LON:VOD are out today noting that revenue growth looks sluggish as it struggles to keep pace with inflation, whilst a EUR1.9 billion loss has been reported largely as a result of an adverse court ruling in India too. Strategic developments are however being made in terms of better utilising assets, with network and tower sharing initiatives both being progressed. Squeezing more out of existing resources ought to deliver additional shareholder value as a result, so outcomes here will be closely followed.
