Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Shepherd Neame 10% revenue uptick
Shepherd Neame [AQS:SHEP] has this morning published preliminary results for the year to 24th June. Revenues grew by 9.7%, whilst underlying profits advanced by 3.8%. A significant uptick in investment was also reported although margin creep also took a toll here. Shareholders are being rewarded with an 8% increase in the dividend.
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#2. Tasty: casual dining sector continues inflation fight
AIM listed restaurant operator Tasty LON:TAST has interims out to 25th June. Revenues are barely higher with losses mounting to £6.2m for the period and a cash balance of just £2.8m. The company is debt free and overall contraction in the hospitality sector is seen as lending some support but there’s still a difficult path for the company to chart ahead.
#3. Saga revenues up, supported by travel divisions
Interims from Saga LON:SAGA are out today, showing the cruise and travel businesses helping drive double digit revenue growth. Sales are up 15% although underlying profits are down by 4% using the comparative structure. Management note that insurance sales remain challenging with inflation continuing to take a toll on payouts but an overhaul of the division is underway offering a more optimistic mid-term outlook.
