Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Britvic revenues up 15%
Full year numbers from Britvic LON:BVIC show revenues up 15% and pre-tax profits having advanced by more than 45% for the soft drinks maker. That comes despite what management describe as significant headwinds, although given the macroeconomic outlook, uncertainty means it’s somewhat challenging to forecast demand in the near term.
#2. Pets at Home: upbeat outlook despite economic headwinds
Interim results are out from Pets at Home LON:PETS with a 7.3% uptick in H1 sales and pre-tax profit guidance being maintained. Revenues growth was even more pronounced in the Vet Group, with sales adding some 12.4%. An interim dividend of 4.7p per share is on offer up by almost 5% from a year ago and management believe the prospects for the business remain strong.
#3. De La Rue revenues down but turn around nears completion
De La Rue LON:DLAR has its half year numbers out today, with operating profits in line with guidance. Revenues are down a little over 8% but with the company nearing the end of its three year turn around plan, management are hailing the success of this, with a number of significant cost savings also having been realised. Adjusted operating profits for the full year are set to come in around the £30m mark with net debt expectations unchanged.
