Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Crest Nicholson profits set to slide as sales slow
Crest Nicholson [LON:CRST] has published a trading update this morning, noting profits for the full year are expected to come in around the £50m mark, well down from the previously stated £73m. Whilst the reduction here will be of little surprise given macroeconomic headwinds, sales per outlet per week have come in at just half the forecast rate, suggesting that the downside pressures here will persist in the short term. Management are maintaining the 17p dividend.
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#2. Fulcrum Utility Services losses grow, delisting proposed
Fulcrum Utility Services [LON:FCRM] have published full year results to 31st March. Numbers are seen as being in line with expectations, with revenues off 18% and a close on doubling in pre-tax losses. The company is now looking to delist from AIM in a bid to significantly reduce costs, simplify the business and improve its agility.
#3. Renalytix product included in global best practice guidelines
Renalytix [LON:RENX] has this morning advised that one of its products has been included in a draft of global guidelines for the management of kidney disease. The company believes that inclusion would be significant in terms of broader acceptance and reimbursement for its products in the US and overseas.