Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. SThree management anticipate performance ahead of market forecasts
The science-focused recruiting business SThree LON:STEM has this morning published half year results covering the six months to May 31st. Although headline revenues are only 3% or so higher, operating profits have been bolstered significantly, largely off the back of elevated demand. The improved cash position means an interim dividend can be reinstated, although the company notes a series of headwinds in the second half including annual leave backlogs. That said, management anticipate a performance ahead of market forecasts for the full year.
#2. DX Group expects revenues to be £6m higher than expected
There’s a trading update out from DX Group [LON:DX] for the 53 weeks to July 3rd. In line with many in the delivery sector, demand has remained upbeat and as a result the company is now expecting to post revenues some £6m higher for the full year than had been anticipated previously. Increased volumes along with productivity investments have benefitted performance, although there’s no word in the note as to whether the widely-discussed driver shortage facing many in logistics will cause problems in the coming months.
#3. Flutter Entertainment completes debt restructuring
Entertainment group Flutter Entertainment LON:FLTR has published a debt financing update this morning, having completed a restructure that significantly reduces its cost of borrowing. Despite negotiating a reduction in the average cost of debt from 4.2% down to approximately 2.5%, demand was brisk – despite that talk of an environment of rising interest rates looming.
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