Skip to content

Three Quick Facts: Tesco, THG and Speedy Hire


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

#1. Tesco profits jump despite claims of price cuts

Tesco LON:TSCO has issued full year results this morning, with group sales up broadly in line with inflation at 7.4%, but there will doubtless be pushback against the fact statutory profits at the retail giant have more than doubled to £2,821m, although the adjusted figure shows a more reasonable 13% uptick. Shareholders are set to benefit from an 11% increase in dividend payments and the company adds that is has also delivered its largest ever increase in colleague pay. Retail profit expectations are broadly unchanged for FY24/25.

#2. Solid headline numbers, FX headwinds in play for THG

THG LON:THG finally appeared to find some love from the City in a recent broker note so today’s full year numbers will be under close scrutiny to see if the support is warranted. Adjusted EBITDA came in at £120.4m, fractionally above the guidance published in January and management note the business has a strong balance sheet with £600m of cash and facilities to hand. The meaningful reduction in administrative costs will be welcomed, although there’s a lot in the report to work through and the weakening Yen is noted as impacting sales for THG nutrition.

#3. Speedy Hire full year numbers set to be at lower end of guidance

Speedy Hire LON:SDY, the UK’s leading tools and equipment hire services company, has published a year end trading update. The group notes a resilient performance in challenging conditions, with revenues down 5%. Ultimately numbers are now set to come in towards the lower end of board expectations, but recent contract wins are offering promise for FY25.

Looking for great investing ideas? Sign up to our free newsletter.

This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

'How to' Guides

Our latest in-depth company reports

Detailed reviews of selected companies and investment trusts.

On the podcast

Sign up for great investing stock tips

Thanks to our Site Partners

Our partners are established, regulated businesses and we are grateful for their support.

CME Group
FP Markets
Back To Top