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Three Quick Facts: Currys, Nightcap, Marshalls

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

#1. Currys FY profits upgraded

Following the bid speculation and lapse of the offer period, Currys LON:CURY has issued a trading statement noting that peak trading – the 10 weeks to 6th January – has been stronger than expected, allowing the group to firm its full year profit expectations to be at least £115m, previously stated as falling in a range of £105-£115m.

All other guidance metrics remain unchanged and the business expects to finish the year in a cash-positive position. Longer term guidance also shows exceptional cash costs falling significantly from next year.

#2. Nightcap revenues up but losses persist. Brighter outlook seen

Bar operator Nightcap LON:NGHT has interim results out today for the 26 weeks to 31st December. Revenues are up more than 40% but losses are persisting, reflecting the turbulent backdrop that has faced the wider leisure sector in recent months.

The uncertainty is tipped to continue in the second half of the year but hopes are building that the economic outlook will improve later in 2024. Synergies as a result of scaling should also be evident, along with benefits from lower inflation, falling borrowing costs, rising disposable incomes and lower energy bills.


#3. Macro backdrop hampers progress at Marshalls

Buildings supplier Marshalls LON:MSLH has its full year numbers out today, with revenues down 7%, pre-tax operating profits off by 41% and the total dividend for the year has been cut almost in half.

Continued weakness has been seen as 2024 got underway although management are optimistic that matters will improve in H2 as the macroeconomic environment improves, although the speed of any rebound is being moderated. The stock has been steadily grinding higher for the last five months – will this knock sentiment?

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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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