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Home » Regular Columns » Three Quick Facts » Three Quick Facts: PZ Cussons, Saga and Flutter Entertainment

Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.

#1. PZ Cussons pre-tax profits ahead of expectations

Consumer goods group PZ Cussons [LON:PZC] has this morning released full year results to 31st May. Revenues advanced 2.7%, although that jumps to 7.1% on a constant currency basis and earnings per share rose by almost 8%. Adjusted pre-tax profits came in fractionally ahead of expectations and investors are being rewarded with a 5% increase in dividend. The company is heralding the performance in light of it being against tough comparatives when demand for hygiene products soared off the back of COVID-19 driven changes in consumer habits.

#2. Saga sees return to positive operating cash flow

Saga [LON:SAGA] has published interim results for the six months to 31st July. Performance has been in line with expectations although critically the company has seen a return to positive operating cash flow in the wake of it resuming cruise operations. Monthly cash burn on the travel side of the business is also sitting below previous forecasts and the company is optimistic over the outlook whilst being mindful of the fact COVID-19 volatility is still a risk. Whether the market will be buoyed by these numbers remains to be seen.

#3. Flutter Entertainment court settlement reached

A short note from Flutter Entertainment [LON:FLTR], the sports betting company. They have reached an agreement with the Commonwealth of Kentucky as part of a long running case that started over a decade ago and relates to accusations levelled against a company it went on to acquire, for activity taking place as far back as 2006. Including interest, the initial claim was $1.3 billion, Flutter appealed to the supreme court and settlement has now been reached for a total of $300 million. Shares already jumped during yesterday’s trade but with the company now considering the matter closed, is there more upside to be seen?

Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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