Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Pendragon
There’s an interim management statement out from car retailer Pendragon this morning. The company has all bases covered, selling both new and used cars, whilst also offering an after sales service. Revenues are up but profits have fallen, with challenging trading conditions eroding margins. The company has announced it will undertake a review of its operational and financial prospects – investors may not take that too well.
SEGRO
SEGRO has released a trading statement today, which seems to be peppered with good news. Strong demand has seen vacancy rates drop to 4.4% from 5.2% at the end of last year, although the decline in new headline rent compared to a year ago may serve to raise a few eyebrows. The full numbers aren’t due until late July, but in the event there’s any big shortfall in margin here, it’s is unlikely to be well received.
Bunzl
There’s a trading statement out from Bunzl this morning, showing group revenues up 4% compared to Q1 a year ago. The report notes sluggish growth in North America but the company is optimistic over its plan to make further acquisitions in order to help grow the business.
We’re going to take a short break over the Easter weekend, in light of market holidays and the fact that the news agenda will likely dry up, too. Three quick facts will return on Wednesday April 24th.
