Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Rolls Royce US military deal to provide B52 replacement engines
Arguably some more good news for Rolls Royce [LON:RR] shareholders with a statement this morning saying that the company has been selected by the US military to provide replacement engines for the B52 bomber fleet. There’s no news on the value of the deal, but this is the result of what is described as having been a vigorous multi-year competition. The contract will last for the next 30 years.
#2. Tasty trading since reopening has exceeded board expectations
Interims from restaurant operator Tasty [LON:TAST] are out today, covering the 26 weeks to 27th June. Despite that period having been heavily impacted by dining restrictions, revenues are up 33% from the previous year and net cash inflow was £1.8m vs £1.4m outflow in 2020. Trading since reopening has exceeded board expectations and the company notes it has adequate resources to continue in operational existence for the foreseeable future.
#3. United Utilities current performance in line with expectations
United Utilities [LON:UU] has published a trading update ahead of interims due in late November. Current performance is reported as being in line with the group’s expectations for the first half of the year, which translates to modest increases in both revenues and profits. There’s also an uptick in expenses forecast but guidance on regulatory performance remains unchanged from the situation posted in May 2021. All told, a comparatively subdued display although given the bond-like performance of the sector, the lack of excitement is arguably something investors will cheer….