Three things you need to know in the financial markets this morning from investment writer, Tony Cross
There’s a half year trading update from PZ Cussons out today, showing a less than stellar picture for the business. Revenues are down 10% and pre-tax profits are showing a 20% decline after a challenging period in the Nigerian market. Europe and Asia both performed well and the company is committed to maintaining its dividend.
Hargreaves Lansdown has published its six month update today, showing growth essentially across the board. A sluggish underlying market is the biggest challenge here, with Assets under Administration falling 6% from last summer despite another 45,000 clients signing up, but with profitability up 4% and a modest increase in the dividend, the company remains positive over the outlook despite the geopolitical uncertainty at home and abroad.
A Q4 trading statement from Dominos Pizza paints another upbeat picture for discretionary retail spend, at least in the UK. Sales are up 4.5% in the domestic market and 7.5% in Ireland, although international markets including Norway continue to struggle while Switzerland was scuppered by strong comparatives. Online sales continue to creep higher however, illustrating the company’s multi-channel commitment.