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Three Quick Facts: Mears, On The Beach and British American Tobacco

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

#1. Mears full year forecasts upgraded

A quiet day – you’d be tempted to say it’s beginning to look a lot like Christmas – but a trading update from Mears LON:MER notes that the company is continuing to perform well and management expect full year results to come in ahead of full year expectations. The company has now completed its transition plan to become a housing solutions provider and given these numbers, it appears to have been a successful pivot.

#2. On The Beach margins pressure but strong start to FY23

Travel agents On The Beach LON:OTB have full year numbers out today, running to the end of September, and these look exceptionally punchy but that’s off the back of COVID restrictions ending. Against 2019 figures, sales are however 15% higher, although profits have been squeezed. Despite the widely reported macroeconomic challenges, the company notes that it has started FY 2023 with a healthier outlook than was the case in FY 2020.

#3. BAT guidance intact despite macro headwinds

There’s a half year update out from British American Tobacco LON:BATS ahead of the close period which starts next month. Management note they are confident in delivering on full year guidance despite macroeconomic challenges and a normalisation of consumption patterns post-COVID. The note is light on detail but adds that next generation/non-combustible products have seen some 3.2 million new consumers added over the last nine months.

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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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