Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Q1 results have been published by ITV this morning, with the ongoing political and economic uncertainty taking a toll. Audience figures are up, but advertising revenues remain under pressure as had been previously guided. The late Easter weekend did little to help the numbers either, with the benefit here set to be felt in the second quarter figures. A strong year of programming ahead may be planned, but given last year’s World Cup success, the comparatives will be tough.
A Q3 trading statement is out from Wetherspoons this morning, which is certainly light on detail but ought to impress investors. Like for like sales are up by 7.6% for the period and the business continues to anticipate a trading outcome in line with previous expectations.
Half year numbers from Imperial Brands show the business as being on track to deliver full year results. Tobacco volumes are falling but “NGP” or Next Generation Products like e-cigarettes continue to grow, offsetting the decline. Revenues are up 2.3%, operating profits have jumped by well over a third and investors will be rewarded with a 10% increase in dividends.