Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. LSE’s Q1 income is up 6.3%
The London Stock Exchange [LON:LSEG] has published Q1 numbers this morning which show continued growth across all key metrics. Total income is up 6.3% and the company notes that it’s on track to meet all financial targets. Headwinds following the suspension of services to customers in Russia are estimated to take £60m off revenues for the full year..
#2. Persimmon Homes margins steady despite rising input costs
Persimmon Homes [LON:PSN] issued a trading statement today, noting that the company continues to perform in line with expectations with average sale prices increasing 2% year-on-year, a £2.8bn order book with demand outstripping supply and the company having for the first time now achieved a 5-star ranking by the HBF. Management expect volume growth of between 4% and 7% for the year whilst maintaining margins, with sales weighted into the second half of the year..
#3. City Pub Group returns to pre-pandemic trade levels
The City Pub Group [LON:CPC] has released full year results for the 52 weeks to 26th December this morning, showing a return to profitability as the company plots its recovery beyond COVID. By November the group reports that it was trading ahead of pre-pandemic levels and trading over the last nine weeks was said to be 98% of 2019 levels, with expectations that this momentum will increase throughout the year, although rising input costs are expected to impact margins in the short term.