Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Just Eat Takeaway.com
Just Eat Takeaway.com [LON:JET] has published first quarter results this morning, posting yet more strong growth as orders placed during the period surpassed 200 million. Beyond that however the update is lacking in much additional detail. The UK has been the strongest performing territory over the quarter, but with COVID lockdowns being reversed and consumers likely to find additional demands on their discretionary income in the coming months, the real test will be how much of this growth sticks around.
JD Sports Fashion
JD Sports Fashion [LON:JD] has published full year results for the 52 weeks to January 30th this morning. Revenues are up around 1% whilst margins have also expanded by a similar amount, showing that the company has put in a resilient performance through the lockdowns, thanks in some part to an agile multimedia strategy. The company adds that it is confident over the coming year and believes it is well positioned, expecting to post headline profits for the period to January 2022 of £475m to £500, well ahead of this year’s print.
Revolution Bars Group
With pubs and restaurants reopening for outdoor dining yesterday, it only seems appropriate that we look at Revolution Bars Group [LON:RBG] which published interim results for the 26 weeks to December 26th yesterday. Some 20 bars have opened already, with the remainder set to go live on May 17th and the company notes that forward bookings are exceptionally strong, providing confidence that it can maintain the solid market position it had built pre-COVID. The combination of pent-up demand along with some competitors having closed their doors is providing confidence although the company is wary that the debts accrued during the pandemic will take some time to repay, suggesting that further government support in the form of long term VAT cuts and/or business rates reviews may be necessary.
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