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Three Quick Facts: Lloyds, ScS, Boohoo

Three Quick Facts: Lloyds, ScS, Boohoo

Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Lloyds profitability bolstered by lower impairments

Lloyds Banking Group LON:LLOY published its Q3 earnings this morning, headlining with a RoTE of 16.6 for the period, up from 9.6% a year ago. The company notes an impairment charge for the last three months of £187m – down from £668m for the comparative – and broadly stable credit trends. That reduction in bad debt is seen as having helped boosting profitability over the quarter to £1.85bn, up from £576m a year ago.

#2. ScS results stoic despite macro headwinds

Upholstery and flooring specialists ScS LON:SCS have published their full year results to end of July this morning. Sales are broadly flat, but margins have taken a hit of around 1% and this has translated into a big hit on profitability. Clearly the challenging economic backdrop is hampering demand so the fact sales are down by so little is notable. However in light of yesterday’s news of a planned buy out of the business for 270p per share – that’s up significantly from the week’s starting point of 171p – investors will have little cause for concern.

#3. Boohoo: Frasers Group expands holding again

Boohoo group LON:BOO has this morning advised that Frasers Group further extended its stake in the company at the end of last week, taking its holding to 16.5% of the total voting rights.

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This article does not constitute investment advice.  Do your own research or consult a professional advisor.

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