Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
SSP Group
Upbeat news from SSP LON:SSPG in a Q3 trading update this morning. Total group revenues are up by over 10%, with growth being seen across the board. There are some interesting weaknesses emerging with the closure of India’s Jet Airways and the grounding of the Boeing 737 MAX both having taken a toll on the business in specific markets but full year expectations remain unchanged. The company acknowledges there’s a degree of uncertainty over passenger numbers and the stock could therefore be exposed in a global economic downturn, but investors may struggle to find fault with this news.
HomeServe
There’s a very brief trading update from HomeServe LON:HSV released today, ahead of the company’s AGM. Trading is in line with guidance given in the full year results published just two months back. Two positive developments from mainland Europe operations are flagged in the release but these in isolation would seem unlikely to present a material change in outlook in the short term.
Big Yellow
Self storage company Big Yellow LON:BYG has published its Q1 trading update today, with impressive numbers across the board. A combination of rising occupancy levels and rent charges has pushed like for like revenues up 4.4% for the period. The company remains some way below its 90% target occupancy rate and ongoing estate expansion will keep this as something of a challenge, but the numbers continue to point in the right direction.
