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Three Quick Facts: Sage, Mitchells & Butler, JD Sports


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

#1. Sage: strong growth in recurring revenues

Accounting specialists Sage [LON:SGE] have published six month results today, covering the period to 31st March. Management note a strong performance over the period with the company accelerating revenue growth and increasing profitability, leaving shareholders to be rewarded with a 4% uptick in the interim dividend. Full year organic recurring revenue growth is now expected to be in the region of 11% with operating margins trending upwards, too.

#2. Mitchells & Butler sales up as competitive landscape shrinks

Mitchells & Butler [LON:MAB] has published half year results for the 28 weeks to 8th April. These show strong like-for-like sales growth of 8.5% and whilst costs remain challenging, inflation pressures seem to be abating in the medium term. Those increased costs have however eaten into profitability, although with the worst now seemingly in the past management have confidence that the business is performing ahead of expectations in both the short and medium term. An interesting addendum notes that since March 2020, there has been a 12% decline in the number of pubs & restaurants in the UK.

#3. JD Sports: strong revenue growth sees dividend more than doubled

JD Sports Fashion [LON:JD.] has released unaudited preliminary results for the year to 28th January. Revenues are up by around 20% although percentage gross profit has fallen slightly. Shareholders are set to be rewarded with a more than doubling of the dividend from 0.35p to 0.8p per share. Management note that in the first quarter of the new financial year, sales are up by 15%, hinting at resilient consumer demand, although there is an acknowledgement of those ongoing macroeconomic headwinds. Forecasts for the FY ‘24 remain unchanged.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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