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Three Quick Facts: Lookers, Hilton Foods, Topps Tiles


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

#1. Lookers profit upgrade for FY23

Full year numbers are out from Lookers LON:LOOK this morning. Revenues have added more than 6% although inflation and rising interest rates have taken a toll on profitability, which sits around 10% lower. Shareholders are being rewarded with a 20% uptick in dividends, the new financial year has started in a robust manner and management have as a result upgraded expectations for PBT in FY ’23.

#2. Hilton Food Group revenues jump but inflation erodes margins

Preliminary results from Hilton Food Group LON:HFG are in today with revenues up 16% and volume growth of 4.3% be recorded. However the unprecedented inflation situation compounded by challenges with the company’s UK seafood business took a toll on margins, with this filtering through to profitability.

#3. Topps Tiles record sales run continues

Topps Tiles LON:TPT has issued a trading update for the six months to 1st April. Record revenue performance continues to be achieved, with like for like sales up 4.3% against the comparative although gross margins are under pressure as a result of inflation. An easing of supply chain issues are now however being seen, which is bolstering confidence over the medium term.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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