Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Lookers H1 numbers impress again
Automotive retail and service group Lookers LON:LOOK has published first half numbers this morning which continue to run ahead of expectations. The post-pandemic momentum has continued, although comparatives are going to be tough to match so despite a profit upgrade, forecasts now suggest pre-tax of £45m for the period against £50.1m a year ago. Vehicle supply constraints are expected to persist during the second half and management also acknowledge that the year will be substantially weighted into H1.
#2. B&M European Value Retail sees core revenue decline
B&M European Value Retail LON:BME has reported figures for Q1 up to 26th June. Core revenue decline of 9.1% has been noted against tough comparatives, although this situation has improved as the quarter progressed, leaving the company committed to delivering the previously stated EBITDA figures for the full year. The performance of the significantly smaller French division has been notable with revenues up by almost a third over the period.
#3. Moonpig revenues down 17% YoY, growth off acquisition hoped for
Full year results from Moonpig LON:MOON are out today, with group revenues down 17% on a year ago, but up 76% on the pre-pandemic comparative. However profitability also remains strong and the company notes there has been no material impact on gross margins from cost inflation so far. Revenues for the current FY are expected to come in up around 15%, a number which has been augmented by acquisition activity.
