Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Adnams revenues up sharply but headwinds loom
Brewer Adnams [LON:ADB] has published an interim trading statement today covering the first half of the year. Revenues are up by almost 50% from the comparative period a year ago, reflecting trade unencumbered by lockdown restrictions, helping significantly trim losses, although these still remain at £0.7m. Variable pub footfall is apparently pressuring some cask beer sales, but with a diversified portfolio, this isn’t too much of a challenge. All outstanding money owed to HMRC has now been repaid although clearly macroeconomic headwinds and concerns of a protracted recession continue to weigh.
#2. Aquis Exchange: rising volatility sees demand slip
Aquis Exchange [LON:AQX] has issued interim numbers today, noting a 21% increase in revenues although significant investments in staff and technology have pared profits by a third. Activity is down a little owing to more volatile market conditions, but modest net issuer growth has been seen. The company notes it is tracking market expectations for the full year.
#3. LON:JD. on track for a bumper full year performance
JD Sports [LON:JD.] has published interim numbers this morning, covering the 26 weeks to 30th July. Revenues are around 14% higher and operating profits have been squeezed a little, although an interim dividend of 0.13p per share has been announced. An array of headwinds mean that the company is cautious about its second half performance, but for now the board is confident that the current financial year will see numbers in line with those reported with the record performance a year earlier.
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