Three things you need to know in the financial markets this morning from investment writer, Tony Cross
We have full year results from JD Wetherspoon out this morning and yet again, the Chairman has prioritised offering his political thoughts over Brexit rather than an update on the company’s finances.
Pick beyond this however and there are some numbers worth cheering on the books.
Like for like sales are up 5%, earnings per share have risen almost 15% and the full year dividend is being maintained.
The company spans two sectors which have faced a rough ride of late owing to rising competition and wavering economic confidence amongst consumers. This seems like something worth raising a glass to.
Avon Rubber makes a rather esoteric mix of equipment for milking cows and gas masks for the military. They have published a pre-close trading update this morning ahead of the year end and the company is sending a positive message out. Both divisions are doing well in terms of sales, with a recovery in the North American dairy market being cited as a stand out.
Profits – due to be announced mid-November – are set to be in line with expectations.
Technology recruitment business SThree has published a quarterly update this morning with gross group profit rising by 13% year-on-year. This is maintaining the pace of expansion seen in Q2, with specific growth being highlighted beyond the UK.
Domestic expansion is sluggish, but the local market only accounts for 16% of profit, down from 20% a year ago.
The company sees Q4 as its most significant but remains confident of full year prospects.