Three things you need to know in the financial markets this morning from investment writer, Tony Cross
We have a Q1 trading update out from vehicle leasing firm Northgate this morning, ahead of the company’s AGM. Year on year growth is impressive, with the UK & Ireland division showing an increase in the number of vehicles on hire up 12% from a year ago, although this was against a relatively soft comparative.
The Spanish operation performed similarly, although this division has been seeing consistent growth for some time now. Full year guidance is expected to be met.
Half year results from Spire Healthcare are out this morning. The company already cautioned on its outlook for the full year in a statement at the start of August and this was well placed.
Revenues declined fractionally, but earnings per share fell by more than half. The interim dividend is being maintained, but the update highlights the real issues facing the NHS right now, as work from the public sector dries up – and drives more private patients on a pay-as-you-go basis to the company.
The AIM listed mobile payment company Bango has published interims today, which continue to show impressive growth rates. The company has seen end user spend of almost £220m in the first six months of the year, compared to £270m for the whole of 2017.
Cost of sales has however risen sharply – this is clearly a business that has the potential to succeed so long as it can find the necessary levels of scale.