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Three things you need to know in the financial markets this morning from investment writer, Tony Cross

SAGA

SAGA has announced full year results this morning and along with this, a wholesale shift in its strategy as it attempts to address a series of long term challenges faced by the business. This however is going to have a big impact on profitability, with the company expecting the headline figure to fall by around one third next year. The proposed dividend is therefore being cut from 9p to 4p and although it may be short term pain for long term gain, investors are unlikely to be welcoming of the news.

AO World

AO World have a trading statement out this morning, which notes that full year performance will likely be in the previous expected range, whilst EBITDA is tipped to come in at the lower end of forecasts. Brexit contingency planning has seen the company build inventory levels on some lines of fast moving goods, whist exceptional costs of £2.5m are also flagged, but overall there appears to be little of concern here.

Entertainment One

Entertainment One, the company behind media brands including Peppa Pig, has published a trading update this morning. Revenue across the ‘Family & Brands’ division – including the eponymous porcine – is up 25%, whilst in China revenues are up 50%, again largely thanks to Peppa. There are no signs of concern over the outlook, although with this being the Chinese year of the Pig, there’s a risk that the company could be setting itself up with some tough comparisons in 2020.

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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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