Three things you need to know in the financial markets this morning from investment writer, Tony Cross
JD Sports
Another glimmer of hope for the retail sector this morning with half year results from JD Sports. Revenues against the same period last year are up 35% whilst there has been a modest margin improvement, too.
The company continues to roll out an international store network, both across Europe and South East Asia, whilst they’re also looking at rebranding the Finish Line chain they bought in the US under the JD banner.
Interestingly however there has been no upgrade to the full year expectations.
Hilton Food Group
Interims from packaging specialists Hilton Food Group are out this morning too and again there are upbeat messages here.
Revenues are up by almost a quarter on the same period last year and operating profits are managing to outshine this by a fraction, too.
Expansion is being conducted both organically and through acquisition, and shareholders are being rewarded with a 12% uptick in dividend.
Ashtead Group
First quarter numbers out today from Ashtead Group, the equipment leasing company, and again it’s a strong picture from the business.
Rental revenue is up by almost 20% and earnings per share have close on doubled.
With weaker sterling continuing to flatter the figures, the expectation now that full year results will be ahead of expectations and the business remains confident over the medium term outlook.
