Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Sales growth maintained at Dunelm
Interim results from Dunelm LON:DNLM are out today, noting total sales up another 4.5% against the comparative with digital gaining ground as a channel. Margins have also been bolstered by a further 160 bps making room for a dividend of 16p plus a special payment of 35p per share. Management note a resilient start to H2 and that full year PBT expectations remain unchanged.
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#2. Bumper revenue growth for Coca Cola HBC
Coca Cola HBC LON:CCH has full year numbers out today, clocking some 16.9% of organic revenue growth, equating to a third consecutive year of double digit expansion. That post pandemic rebound however appears to be normalising, with management noting that revenue growth for FY24 will be in the 6-7% range. A dividend of €0.93 per share is proposed, that’s up 19/2% from a year ago.
#3. Heavy rainfall leaves United Utilities caught short
United Utilities LON:UU. have a trading update out today. The key point in the note is the Outcome Delivery Incentive situation, which is a credit the water utilities receive for achieving performance benchmarks (or more cynically doing their job). The note highlights that excessive levels of rainfall seen since the end of September have impacted their ODI performance by around £25m, meaning that the payout for the current financial year is now expected to be £40m.
