Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Entain full year EBITDA upgraded off Q4 numbers
There’s a Q4 update out from Entain LON:ENT, which has posted a record period both in terms of net gaming revenue and active customer numbers. That’s lead to an upgrade in full year EBITDA forecasts by around 12% to just shy of £1 billion. Management note that the success has come off the back of global expansion and broadening customer appeal. Whilst they also note strong momentum is being carried into the new year, there’s no concern – or even acknowledgement – of pressures on discretionary spending.
#2. Virgin Money Q1 trading update shows solid uptick in lending deposits and margins
Virgin Money LON:VMUK has posted a Q1 trading update. Perhaps most crucially, the bank notes that arrears remain broadly stable across key leading segments, although bad debt provisions are being increased as the current situation appears below normal. Lending and deposits increased across the board, whilst net interest margin also advanced by three basis points as base rates tracked higher.
#3. GSK’s solid Q4 results put full year sales ahead of forecasts
Q4 numbers from Pharmaceuticals giant GSK LON:GSK impressed this morning, coming in ahead of analyst expectations. Full year sales were almost £30bn, up 13% on constant exchange rates, whilst total EPS more than doubled. The business is confident in terms of the outlook for FY23, with turnover expected to grow by a further 6%-8% and EPS to add 12% to 15%. Dividend payout forecasts for the year ahead remain unchanged.
