Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
1. Dr Martens: 18% uptick in revenues, strong outlook
Full year results from (LON:DOCS) are out this morning with the company’s direct to consumer strategy evidently delivering for shareholders. Revenues advanced 18%, driving the underlying EPS up by 21% and leaving investors with a 5.5p dividend per share. The company expects to maintain this high teens revenue growth for the year ahead, with the upgraded guidance coming off the back of planned price increases for the Autumn/Winter range.
2. Dewhurst cyber attack to materially impact profits
AIM-listed Dewhurst (LON:DWHT) has this morning advised the market of a cyber attack which took place earlier last week. It notes that manufacturing facilities have been unaffected but administrative systems currently aren’t fully operational. However the board expects the incident to only have a minimal impact on underlying trading and revenues will remain in line with current expectations, however the exceptional remediation costs mean that profitability will be materially lower.
3. Frasers spends £20m on Missguided purchase
Frasers Group (LON:FRAS) has this morning advised the market that it has purchased certain IP elements from Missguided, the online fashion retailer which is currently in administration. Some £20m in cash has been paid for the assets, with the longer term plan being that Missguided will operate as a stand alone business within the Frasers group.
