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Three Quick Facts: PPHE, Unilever and Lloyds


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

#1. PPHE full year expectations to be exceeded

Hotel owner and operator PPHE LON:PPH has issued a Q3 trading statement today. Revenues for the period are up 71% on last year and 7.1% from pre-pandemic levels, but the note highlights the exceptionally strong demand in London where room rates over the summer were up by 33% from 2019. The momentum seen in Q3 is continuing into the year end and as a result, the group is on track to exceed full year market expectations for EBITDA and revenue.

#2. Unilever full year guidance upped but volumes expected to struggle in Q4

Q3 numbers from Unilever LON:ULVR show underlying sales growth of 10.6% and guidance for the full year being revised higher. Volumes are expected to struggle and the challenges of high inflation are seen as persisting in FY23, but investors are being rewarded with an unchanged quarterly dividend.

#3. Lloyds profits impacted by increased bad debt provision

And a third quarter update from Lloyds Banking Group LON:LLOY shows a statutory net profit of £4bn after tax for the first nine months, down from £5.5bn a year ago, with higher income – driven by higher UK interest rates – being more than offset by impairment charges. These have been impacted by the worsening economic outlook. That has seen the Return on Tangible Equity figure slide from 17.6% to 12.9%, although the target here is 13%, with the previous number being flattered by lower than expected COVID write downs.

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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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