Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Retail group Kingfisher [LON:KGF] may be continuing with its turn around plan, but half year results published this morning show that the company continues to struggle. Sales are down £80m although the £24m decline in retail profits is likely to be of greater concern. The outlook remains uncertain, with questions being asked over how consumer demand will fare in the UK with Brexit uncertainty continuing to linger, although the arrival of the new CEO next week could provide some fresh direction for the business.
More concern for the retail sector with half year numbers from car giants Pendragon [LON:PDG] raising a few red flags this morning. Despite sales rising 2.9%, the company has swung to an interim loss of £32m against a backdrop of challenging economic and market conditions. Full year losses are now expected to come in at the lower end of the board’s expectations.
A very brief update from Games Workshop [LON:GAW] ahead of their AGM today shows that trading is in line with the board’s expectations. Details beyond this are scarce but a quarterly dividend of 35p has been declared.