Three things you need to know in the financial markets this morning from investment writer, Tony Cross
JD Wetherspoon LON:JDW
There’s a trading update out from Wetherspoon this morning, which shows the company benefitting from a decent 6.9% increase in like for like sales over the 10-week reporting period. That pattern has also been reflected in year to date performance, but the statement then dives off into its traditional pro-Brexit territory. Given current market nerves over the risk of no-deal, such narrative seems unlikely to provide much confidence for the wider investment community.
Dunelm Group LON:DNLM
Another solid set of quarterly results from Dunelm are out today, with like for like store sales up 12% and online having added 37%. What’s more, margins continue to improve too, with the company not becoming a victim of discounting that had throttled profit growth in much of the retail sector of late. Full year profits are expected to come in at the upper end of the previously forecasted range, around 25% higher than the comparable figure for the previous financial year.
Barratt Developments LON:BDEV
We’ve seen numbers from a slew of housebuilders of late and today, Barratt is posting a trading update ahead of full year numbers due at the start of September. Completions are up and the profit margin is nudging higher too, meaning that pre-tax profits are likely to be ahead of market expectations. The report notes political uncertainty, but adds that the group remains in a strong position with a significant cash balance.
