Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Just Eat Takeaway.com orders up 25% from 2020
Just Eat Takeaway.com [LON:JET] has published Q3 results this morning. The big challenge for the business has been trying to ensure that customers picked up during the pandemic remain loyal, rather than reverting to dining out and with orders up 25% from 2020, it looks like this has been achieved. Growth in gross transaction value was only fractionally behind at 23% so probably shouldn’t be of too much concern. Guidance for the full year has been reiterated.
#2. Vertu Motors upgrades profits for the full year
Following a slew of numbers from auto retailers, Vertu Motors [LON:VTU] has posted results for the six months to August 31st today. This shows the same pattern seen elsewhere of bumper sales and margins remaining strong. Profits for the full year have been upgraded from £50m-£55m to at least £65m and the company believes its high margin after sales services will continue to bolster profitability.
#3. Centrica postpones capital markets day
An interesting decision from Centrica [LON:CNA] who have this morning announced that their capital markets day planned for 16th November has been postponed. They stress that performance remains in line with expectations following interim results in July, they are well hedged into the winter and that the balance sheet is strong. Their focus is however on strengthening market-wide structures to ensure the collapse of energy providers doesn’t recur so in light of that, they have pushed back the event. Investor reaction to the news will be interesting to watch after the bell.