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

Tasty

Casual dining operator Tasty Plc [LON:TAST] has published results for the year to December 27th this morning. Government enforced trading restrictions have understandably taken a toll on sales throughout the pandemic, so it’s perhaps commendable that revenues have fallen by less than 50%. The company is now planning a phased reopening starting next month and running through to July. There is however little in the way of guidance, only a note that in the coming months, there will be a better understanding of how the market is likely to look in a post-pandemic world.

Saga

Saga [LON:SAGA] has published its full year numbers for the 12 months to January 31st and it’s been a game of two halves for the over 50’s service provider. Insurance has performed well, with some notable growth in underwriting, but the travel market understandably struggled, posting a £78.5m operating loss, down from a £19.8m profit in the previous year. There’s no dividend to shareholders but in terms of outlook the company intends to restart travel operations by the summer and envisages a return to pre-pandemic levels of cruise passengers in the mid-term.

Ryanair Holdings

There’s an update out from Ryanair [LON:RYA] this morning, noting that for the full year to March 31st, it is revising its expected loss figure. This is now tipped to come in between -EUR800m and -EUR850m, a modest improvement from the previous guidance of -EUR850m to -EUR950m. Perhaps more critically, given the fact that there is still a lot of uncertainty regarding the restarting of aviation, the company notes it still has EUR3.15bn on the balance sheet and well over 80% of the airline’s aircraft are unencumbered. Looking further ahead, the airline believes FY22 will be close to break even, a view which is apparently less optimistic than some have suggested.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

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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