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Three things you need to know in the financial markets this morning from investment writer, Tony Cross.

Marks & Spencer

Full year results are out from Marks & Spencer [LON:MKS] this morning, with the retailer posting a notable loss in the wake of lockdowns. Revenues were just shy of £9 billion compared to £10.2 billion in the previous year, with clothing and home sale being hit hard. There was a modest uptick in food sales, although the closure of franchise outlets in transport hubs took a toll here, too. The company notes it is working through its latest transformation plan and that areas such as sales via Ocado and its own online channels are performing well. Some metrics have come in slightly ahead of forecasts but the question has to be whether investors will have been expecting more.

De La Rue

Secure printers De La Rue [LON:DLAR] have published full year numbers this morning as well. Revenues are off by 10% with the disposal of the identity solutions business providing the big drag here, although the adjusted operating profit has come in some 60% higher. Trading for the first two months of the current financial year has been in line with expectations although the business remains in its turn-around phase which is costing cash. That said, the ambition is for dividend payments to resume in FY 2022/23.

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Finsbury Food Group

There’s a profit upgrade out from bakers Finsbury Food Group [LON:FIF]. Management notes that trade in the second half of the year has been strong and pre-tax profits for the full year are set to exceed £15m, ahead of current market expectations. As a result of the outperformance, the plan is to reinstate dividend payments for the current financial year, ending in a month’s time.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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