Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Trainline strong sales growth as digital rail ticket popularity grows
There’s a trading statement out from Trainline LON:TRN noting sales growth of more than 20% for the first six months of the year. The UK market continues to perform very well, with a trend for domestic rail passengers to switch into digital tickets being seen as a key driver. Full year expectations have been reconfirmed, although the lower bound of revenue growth at just 13% does seem rather cautious given the H1 performance.
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#2. MJ Gleeson modest drop in sales, mortgage market stability welcomed
Housebuilder MJ Gleeson LON:GLE has published full year results today, noting a robust performance despite the widely reported macroeconomic situation. Home sales are down but with just a 4% drop being recorded this looks quite solid. Profits have however been eroded quite significantly and reservation rates are down by 20%, too, although a steadying of mortgage rates is giving management the confidence to think better times lie ahead. Full year dividend payments are set to be trimmed to 14p from 18p a year ago.
#3. THG disposals see margins improve but losses persist
Half year numbers from THG LON:THG are also out today. The key takeaway here is that disposals of underperforming divisions have seen revenues decline year on year, but margins have seen the benefit as a result. Profitability still remains elusive however with the operating loss growing by more than £10m to £99.5m. Sales trends remain positive and management eye further improvement in margin in H2.
