Three things you need to know in the financial markets this morning from investment writer, Tony Cross
The Restaurant Group
There’s a trading update out from The Restaurant Group this morning, covering the year to December 30th. The World Cup hangover continues to blight performance where England’s success saw consumers swapping food for drink, but the company says that like for like growth has been seen since the summer. Full year profits are expected to be in line with expectations and the company is optimistic that the acquisition of Wagamama will continue to yield results.
Countryside Properties has issued a Q1 trading statement today, showing strong growth from the home builder and urban regeneration specialist. Total completions are up almost 30% on a year earlier whilst the forward order book has jumped an impressive 78%. Operating margins are in line with expectations and despite the political uncertainty of Brexit, the company is convinced it can deliver against medium term guidance.
Fevertree has also updated the market this morning with a full year trading update. Investors may well have something to cheer here, with revenues up by 39% driven in part by bumper sales growth in the UK. The strong performance in the second half of the year has left the company issuing a profit upgrade, with numbers now forecast to be well ahead of expectations.