Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Accountancy software company Sage has posted a quarterly trading update this morning with growth essentially across the board. Headline group revenue is up 7.6% and the only reported weakness is in software related services where revenues fell, although the company is making a conscious effort to move away from one off payments to recurring subscriptions. This reflects the first quarter of the financial year, but the company is reiterating its full year guidance as issued in the last annual results.
Premier Foods, the company behind brands including Mr Kipling, has published its Q3 trading statement today. It’s something of a mixed bag as branded sales and grocery sales – including its Batchelors brand – are rising, but its non-branded sweet treats division is struggling, with sales off by over 20% for the period. Full year guidance is unchanged.
Brick manufacturer Ibstock has published a trading update today for the year ending December 31st. Despite Brexit uncertainty, there has been no let up in the house building market and this has been reflected in the numbers. Revenues are up 8% for the full year, reflecting growth both in volume and price. Full results will be published at the start of March.