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Three Quick Facts: Pendragon, City Pub Group and MyHealthChecked

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

#1. Pendragon volumes slowing but revenues still rise.

Pendragon LON:PDG has published half year results this morning, covering the six months to 30th June. Despite supply constraints and inflationary pressures, the company saw like for like revenues advance 3.9% with gross profits up 9.9% although underlying profits did slide by almost 5%. Trading in the first two months of the second half has remained in line with expectations and the company expects to continue delivering profits as forecast during H2.

#2. City Pub Group trade back at pre-COVID levels, acquisitions on the radar

City Pub Group LON:CPC interims for the 26 weeks to 26th June are out today, with the company noting that trade has returned to pre-COVID levels, albeit against a rising cost burden. Net debt is however low, with a hint that this will allow the company to acquire distressed assets when the time is right in the medium term although given the macroeconomic climate, management are keen to stress that the immediate focus is on the existing estate. News that the energy price cap will be applied to businesses is seen as facilitating resilient trade for the remainder of the year.

#3. MyHealthChecked sales beat expectations

MyHealthChecked LON:MHC, the home testing healthcare company, has published its half year report today. Revenues are up three fold, gross profits are up by around 40% and the cash balance now sits at £7m, up from £2.2m at the same point a year ago. That’s ahead of expectations, with private sales of COVID-19 test kits being augmented by a wider range of self-test wellness products.

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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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