Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Robert Walters profit downgrade
There’s a trading update out from recruiter Robert Walters LON:RWA today, which bakes in a profit warning after net fee income for the first two months of Q2 came in 10% lower year on year. Full year profits are now expected to be significantly lower than previously forecast with falling candidate confidence and extended hiring cycles being cited. The note add that other fundamentals including candidate shortages and job flow remain solid, but understanding which is the leading indicator here will be critical.
- UK Stock Market News: Foxtons, Ibstock, Games Workshop
- Games Workshop’s conquest continues with record profits and licensing boom
- Games Workshop shares soar on strong trading update
#2. Games Workshop 14% revenue uptick, significant dividends paid
There’s a full year trading update out from Games Workshop LON:GAW, with management noting full year revenues should be no lower than £440m against £387m a year ago. Pre tax profits are expected to be at least £170m against £157m. The company notes it returned £136m to shareholders via dividend payments.
#3. Marks Electrical revenue growth continues with margins intact
Marks Electrical LON:MRK, a fast growing challenger in the domestic appliance market, has full year results out today. Revenues added 21% year on year to come in just under £100m and critically margins were maintained. Shareholders are being rewarded with a full year dividend that’s up almost 50% on what was paid a year ago. Management note a strong start to the new FY has been seen with revenues running 30% higher than they were a year ago.
