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Three Quick Facts: AO World, Topps Tiles and Assura

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

#1. AO cash call to support credit lines

AO World (LON:AO) has announced a proposed cash raise this morning in the wake of funding concerns around the business. The company is seeking £40m at a modest discount to last night’s closing price and notes that the performance for the year to date is materially in line with expectations, whilst acknowledging the volatile macroeconomic environment.

#2. Topps Tiles: strong quarterly sales compared to pre-pandemic levels

Topps Tiles (LON:TPT) has issued its Q3 trading update, noting that sales are up 9% from last year and some 28% ahead of pre-pandemic levels. Management added that despite the continuing headwinds from lower consumer confidence, supply chain challenges and high inflation, trading has remained encouraging and in line with expectations.

#3. Assura’s Q3 update highlights NHS infrastructure demands

Primary care property investor and developer Assura (LON:AGR) has published a trading update for the quarter ending 30th June this morning. The company now has 662 properties with an annualised rent roll of £141 million and continues to expand its estate. Management see significant opportunities in terms of supporting the NHS through expansion of primary care infrastructure but notes that it will maintain a disciplined approach to the deployment of capital. Currently net debt stands at £1.1 billion and there are undrawn facilities of a further £266 million.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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