Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Fevertree Drinks still finding room for growth in saturated market
Fevertree Drinks LON:FEVR has published a full year pre-close trading update this morning. Despite the group’s omnipresent nature, they’re still finding growth with revenues up 6% and the most promising market remains the US where sales advanced by 22%.
The UK was ahead of guidance with improved market share and whilst the rest of world stats may look disappointing, this was driven by the transition to a new subsidiary set up in Australia. Further growth is eyed for 2024, both in terms of revenues and margins.
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#2. Fullers bumper festive period sets upbeat mood
Pub Co Fullers LON:FSTA issued a trading update for the 42 weeks to 20th January, noting particularly strong sales over the festive period, up 21.6% against the comparative. Over the accounting year to date, revenues are up by 11.5% and the underlying message from management is one of optimism and a business that is in great shape, with only a passing nod being made to the ongoing economic challenges.
#3. PPHE’s full year numbers upgraded as pre-pandemic patterns return
Hotel operator PPHE [LON:PPHE] has issued a year end trading update, heralding a string financial performance and noting that FY23 results are expected to be above forecasts with revenues of at least £413m and EBOTDA of £127m. That’s up from £400m and £120m respectively.
Reported RevPAR was 25.5% higher, reflecting sustained improvements in occupancy levels, forward bookings are in line with where they stood a year ago and perhaps most insightfully, the business/leisure booking mix is normalising towards pre-pandemic levels.
