Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Interim numbers from Superdry [LON:SDRY] are out this morning, showing profitability to have all but vanished for the first half of the year. Revenues are down 11% but profits are a mere £0.2m, down from £12.9m for the same period in 2018. The dividend is being reigned in significantly and whilst the company is keen to paint this as a picture of resetting the business, uncertainty over the broader trading outlook may do little to reassure investors.
There’s an upbeat Q4 trading statement out from Ocado [LON:OCDO] today, showing retail revenue up 10.8%, a figure which is in line with expectations. Investors may be slightly wary over the fact that the average order size is showing no signs of growth, but the company states that the partnership with Marks & Spencer is working well, and believes it is on course for its best Christmas to date.
Keeping with retail, half year numbers from Dixons Carphone [LON:DC] have been published today, too. Adjusted pre-tax profits have fallen from £60m to £24m, although this change was expected given ‘investment in the customer proposition’. Pre-tax profits for the full year are still expected to come in around £210m and the company believes it remains on track to continue its transformation in what has become a tough market. Growth in credit services and an expected turn around in mobile – with the division expected to be profitable by 2022 – are cited as helping deliver the future success.