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

#1. Royal Mail shows continued strong performance

There’s a half year report out from Royal Mail [LON:RMG] this morning, showing continued strong performance from the company as it benefits from structural change and the post-COVID rebound. Operating margins are notable as they have surged to almost 7%, but one point that could attract criticism is that the full year benefit from the change program is now expected to be £80m, down from the previously stated £100m. However news that a £200m special dividend is to be paid along with a £200m share buy back is likely to soften any blow here.

#2. Biffa sees revenues up almost 40%

Sustainable waste management company Biffa [LON:BIFF] has announced its numbers for the 26 weeks to 24th September. Revenues are up almost 40% on a year ago, but more significantly are ahead of the pre-pandemic numbers, too. The outlook remains in line with previous expectations and the company has noted that after a hiatus it will return to paying an interim dividend of 2.2p, down from the 2.47p declared in 2019.

#3. Naked Wines full year sales revised down slightly

Naked Wines [LON:WINE] also published half year numbers today. The company’s “mail order” model found great popularity during lockdown but critically they seem to have done a good job of retention, with sales up 1% from the comparator and 82% from the pre-COVID figure. Total sales for the FY are however being revised down slightly, although this is seen as a consequence of lower investment in new customers as the company refines its target audience.

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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