Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Strong Q1 for Computacenter despite tough comparatives
Computacenter LON:CCC issued its Q1 trading update this morning noting performance has been broadly in line with expectations. There has been a normalisation in terms of contract wins against a tough comparative but management did highlight the awarding of a new technology sourcing deal towards the end of the period. Further progress is anticipated over the year.
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#2. Next full price sales ahead of forecasts
Fashion and home furnishings retailer next LON:NXT published its trading statement for the 13 weeks to 27th April this morning. Full price sales were up 5.7%, ahead of the 5% guidance offered and full year profit forecasts remain at £960m. Finance interest income rose by 6.4% and management also note that they expect to see a modest contraction in sales during Q2 as a result of the exceptionally warm weather last May driving shoppers in 2023.
#3. Smith & Nephew revenue growth in line, stronger 2nd half seen
Smith & Nephew LON:SN. also have a Q1 trading update out, with revenues up 2.9% as expected. Orthopaedics outperformed and there was some softness in the advance wound management division, but full year guidance remains unchanged with revenue growth of 5%-6% and a trading profit margin of 18%, weighted into the second half of the year.
