Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Royal Mail Group
There’s a teaser from Royal Mail Group [LON:RMG] this morning ahead of an update which is due later in the day from the company’s GLS division. That’s the bit responsible for consumer parcel deliveries, something which has performed very well during lockdown and will include medium-term projections for the unit. Bullish growth forecasts are set to be included here – one to watch for the detail.
Irn-Bru makers AG Barr [LON:BAG] have this morning published full year results for the period to January 24th. The closure of hospitality settings has hit the company’s performance, with revenues off by 11% with pre-tax profits before exceptional items taking a similar hit. The note does however highlight some interesting points, specifically that lockdown has seen solid growth in the drink-at-home cocktail market. This has helped drive the company’s Funkin brand of pre-mixed libations, which is now the UK’s No. 1 ready to drink cocktail brand. It is planned to resume dividend payments later in the year.
There’s a trading update out from Imperial Brands [LON:IMB] this morning, although nothing of any note seems to be in there. Some modest growth in tobacco product sales is being reported across key markets, although COVID continues to impact some buying patterns. Longer term, full year results are expected to be delivered in line with previous guidance. Interim results are set to be published in mid-May.
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