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Three Quick Facts: Pets at Home, Tate & Lyle, Young’s


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

#1. Record sales from Pets at Home

Pets at Home [LON:PETS] has full year results out this morning, noting record sales and pre-tax profits, with revenue growth accelerating during the course of the reporting period. The company now commands a 24% market share and the company is targeting a further 7% p.a. sales growth in the medium term. Management note they are comfortable with current analyst forecasts for FY ’24 PBT.

#2. Tate & Lyle strong FY performance but dividend growth conservative

Full year numbers are also out from Tate & Lyle [LON:TATE] this morning, noting a strong financial performance and significant strategic progress. Revenues are 18% ahead, pre-tax profits are up by 13% and shareholders are being rewarded with a 2.5% uptick in dividends. For the year ahead the company expects to deliver against medium term plans with revenue growth of 4% to 6% and adjusted EBITDA of 7% to 9%.

#3. Young’s margins squeezed but sales uplift dominates

Young & Co’s Brewery [LON:YNGA] has its results for the year to 3rd April out as well. Revenues added almost 20%, adjusted pre-tax profits are up by 8% and shareholders are benefitting from a 9% increase in dividends, reflecting both the fact that the comparative was impacted by the Omicron variant but also illustrating the company’s management of inflationary pressures. The positive momentum continues, too, with pub sales up a further 4.8% over the last seven weeks.

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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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