Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
JD Wetherspoon
Wetherspoons LON:JDW shaking it up a bit this morning with their Q1 trading update. Of late, financial notes from the company have been Brexit heavy with what has often seemed like only a token nod to the numbers. This time round however it’s a lengthy protest over corporate governance, after the pub chain’s tactics over Brexit were called into question by some shareholders. Down to the important bit, like for like sales are up 5.3% and the company notes that it is responsible for paying about £1 in every thousand of all UK taxes. The full statement on the company’s IR website – all 3,700 words – is well worth a look.
Speedy Hire
Equipment and plant hire rental specialist Speedy Hire LON:SDY has published half year results today. Revenues are up almost 6% but earnings per share have risen by around 25%, with the company pursuing growth amongst higher margin SME customers. Despite the political uncertainty which is dominating right now, the company is confident that it can deliver results in line with full year expectations.
Wincanton
Wincanton LON:WIN, the country’s largest third party logistics company, has published half year results this morning. Revenues are up, although growth has been tempered by the termination of some low margin contracts. The business is picking up new deals however including a 5 year contract with supermarket group Morrisons, although the impending general election is serving up a degree of uncertainty when it comes to the outlook.
