Three things you need to know in the financial markets this morning from investment writer, Tony Cross
Interim results from Telford Homes have been published today and whilst the headline numbers are still rising, there are signs that margins have been squeezed. Turnover is up by almost a third compared to the same period a year ago but pre-tax profits are up by a mere 16%. The company’s focus on build to rent could be behind this drive, as institutional investors will arguably be far more exacting over ensuring they can extract a meaningful return from any property.
On The Beach
After yesterday’s disappointment from the travel sector, online holiday specialist On The Beach has published its full year results. Revenues are up by almost 25% and earnings per share have risen by almost 20%. Shareholders are being rewarded with an 18% increase in dividends. It hasn’t all been plain sailing for the company – the hot summer in Scandinavia impacted sales in the region – but the company seems confident that its platforms remain popular with holidaymakers.
IT infrastructure providers Softcat have published a trading update for the first quarter today, although it’s remarkably light on detail. Customer numbers and profit per customer are both advancing, and the expectation is that following a strong start to the second quarter, expectations for the full year remain in tact.