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Three Quick Facts: Currys, Pearson and Ibstock

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

#1. Currys strong UK performance offsets weakness elsewhere

Electrical retailer Currys LON:CURY has this morning published a trading update for the 10 weeks to 7th January. The company saw better than expected levels of trade in the UK & Ireland but that was offset by a less impressive performance in the Nordics. As a result, full year guidance remains unchanged with PBT set to come in between £100m and £125m. Management are confident of the UK & Ireland performance in delivering further momentum despite challenging macroeconomic conditions.

#2. Pearson full year guidance upgraded

Educational publisher Pearson LON:PSON has provided a trading update, noting that full year results are expected to come in ahead of previous forecasts. Underlying sales growth is up 5%, resulting in an 11% uptick in profits. With the company on track to deliver £120m of efficiency gains in the year ahead, this will also help offset inflationary pressures.

#3. Ibstock management upbeat despite macroeconomic outlook

Brickmaker Ibstock LON:IBST has is full year trading update out today, too, ahead of numbers which are scheduled for early March. Full year revenues are up by 25% and EBITDA is set to come in ahead of previous expectations but Q4 did see a slowdown in sales. Regardless of this, management believe they are well placed to deliver against medium term targets, despite the inevitable slowdown as macroeconomic factors weigh on demand.

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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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