Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
MJ Gleeson
There’s a trading update out from MJ Gleeson LON:GLE this morning, the low-cost housebuilder and strategic land specialist. Results for the year to June 30th are now expected to be ahead of expectations as a result of strong demand bolstering selling prices, something which has more that outstripped recent increases in materials costs. Its strategic land business is also faring well, with demand for ‘consented’ land now back at pre-COVID levels.
Cineworld Group
Cineworld Group LON:CINE has issued a note highlighting a strong performance for the first weekend of reopening of venues in the UK. Attendance at Peter Rabbit 2 was well ahead of expectations and the note highlights that concession sales were strong too, with viewers keen to get the full cinema experience. New releases due in the coming days mean that the company has upbeat expectations over next weekend’s sales, too.
Hilton Food Group
There’s a broad trading update out from Hilton Food Group LON:HFG this morning ahead of the company’s AGM. There’s certainly no stand out theme in here, with growth in some sub-markets being countered by production issues elsewhere. Overall the narrative looks to be weighted on the positives and the company notes its strong financial position, but there’s a definite note of caution running through this.
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