Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Next
Next has published a quarterly trading update this morning, showing that the warm Easter weekend served up a helpful boost for sales. Online trading continues to outperform the physical channels, whilst finance interest income keeps moving higher too. The company isn’t however rushing to revise full year guidance, again acknowledging the one-off lift given by the weather.
J Sainsbury
Full year results from J Sainsbury have been released this morning, showing a modest decline in like for like sales excluding fuel over the year. Costs associated with the aborted Asda transaction are put at £46 million, but net debt is falling and shareholders are being rewarded with a close on 8% increase in the dividend. The decline in earnings per share may however attract some interest, falling from 13p to just 9p. Mike Coupe appears to be digging in in the wake of the Asda deal failing to complete.
Avon Rubber
A mixed half year trading update from Avon Rubber has been released this morning. The impact of the US government shut down in January is hanging over the business, whilst challenging conditions in the dairy market failed to help, either. However the strength of the current order book means the board remains confident it can still deliver against full year expectations.
