Three things you need to know in the financial markets this morning from investment writer, Tony Cross
We have some impressive looking half year numbers from Just Eat released this morning. The takeaway food ordering platform is seeing yet more success off the back of its move to higher value sales. Orders are up 30%, but revenues have jumped 45% on the same period a year ago. The integration of competitor Hungryhouse has been completed and full year revenue guidance has been upped by around 10%.
Keeping with the food theme, Greggs has numbers out for the first half of the year this morning. Sales are up just over 5% from a year ago, although underlying profitability has fallen. The company remains wary over the consumer outlook, but continues to evolve its product offering in a bid to keep stores busier for longer. The interim dividend is being lifted to reward investors and around 100 new stores (net) should be opened through the year.
Half year numbers from Taylor Wimpey this morning as well, with the house builder seeing continued success as demand for properties and the availability of mortgages both remain upbeat. The number of completions was down around 3% from a year ago, with bad weather in the Spring being to blame. Average selling prices continued to tick higher however – up around £8,000 for each of the 6,500 properties sold – giving a healthy bump to pre-tax profits.