Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Taylor Wimpey
There’s a trading statement out from Taylor Wimpey [LON:TW] this morning, showing that despite political uncertainty the company remains on course for another year of growth. Completions for the full year were up 5%, reservations rates had risen whilst build cost pressures are beginning to abate, too. Whilst recognising that the year ahead will remain volatile for the UK, the added political stability is seen as something of a bonus, although the company notes that 2020 will be weighted in the second half.
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Boohoo Group
Another bumper set of numbers from online fashion retailer Boohoo Group LON:BOO, with revenues over the last four months up 44% against the corresponding period a year ago. Margins have taken a modest haircut – off 70 basis points over the reporting period – but investors may well look straight past this. The revenue growth for the full year is expected to be comprehensively ahead of previous estimates, nudging EBITDA marginally higher, too.
DFS Furniture
DFS LON:DFS rounds off today’s list with its interim trading update. Full year pre-tax profits are expected to be in line with expectations, despite a 6% decline in sales for the second half of calendar 2019. Again the company acknowledges that political and economic uncertainty could continue to hamper the market, but cost saving measures are in place to help mitigate any market weakness. Historically the group notes it has done well in softer economic conditions. Full year results will be published in early March.
