Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Just Eat tough comparatives could picture, EBITDA forecast upgraded
There’s a Q1 trading update from Just Eat Takeaway [LON:JET] and the numbers don’t look great but management are keen to stress that these come against some tough comparatives, as Q1 ’22 was the second best performing quarter of the pandemic. Longer term the company believes that for the full year, GTV will improve by between -4% and +2% and that full year EBITDA estimates have been upgraded from EUR225m to EUR275m – a glass half full view here seems warranted.
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#2. National Express post-COVID recovery continues apace
National Express [LON:NEX] has also issued a Q1 update covering the January-March period. Revenues added 25% which was in line with expectations even given the impact of industrial action in the UK. The resumption of scheduled coach travel in the UK as services were restored post COVID also had a flattering effect on the numbers. Management add that they have been working hard to mitigate against inflationary pressures and are undertaking a number of productivity initiatives to help navigate the current economic uncertainty.
#3. Longer contract terms for MTI
AIM listed MTI Wireless [LON:MTI] has announced two long term contract wins for a subsidiary which are collectively worth $2.2m. That relates to an existing customer agreeing to longer than previously issued contract terms, so whether this is sufficient to move the dial on a company with a £50m market cap remains to be seen.