Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Purplebricks
There’s a quick trading update out from Purplebricks this morning, the ‘hybrid estate agent’. Guidance given back in February for group revenues remains unchanged at £130m-£140m and cash balance of no less than £62m has been declared. The company has also announced that its founder and CEO is stepping down, with COO Vic Darvey taking the helm.
G4S
Speculation that Garda World Security was to make a bid for G4S has been put to bed this morning, with both parties issuing statements declaring that talks have been terminated. That big jump in the G4S share price almost a month ago could be squeezed this morning.
Dominos Pizza
Q1 numbers from Dominos Pizza show the company continuing to make good progress in the UK & Eire market, but international growth remains challenging. The note adds that overseas operations are not expected to become profitable this year despite the added management focus that has been deployed. On the basis that many of these markets are uncontested by international branded operators, this is likely to continue confounding investors. Sales in Sweden are something of a stand-out, up by over 15% on the same period a year ago.
