Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Trainline half year report shows sales up 116%
A half year report is out from Trainline [LON:TRN] this morning, with net ticket sales up by a shade over 100% and revenues just a couple of percentage points behind that. The company is expanding the number of operators it works with, customers are becoming stickier and product innovation is in play too, with season tickets now on offer for many UK train companies. Whilst the cost of living crisis may bite into sales going forward the company stands by previous guidance and expects three year revenue growth of 18%-27%.
#2. Resilient performance from Sainsbury’s as customers stay loyal
Retailer J Sainsbury [LON:SBRY] has issued its half year report today up to 17th September. Sales are up across the period, with growth weighted into the second half as price increases hit. Guidance for the full year remains unchanged. The company notes that basket sizes are proving more resilient than competitors and they’re seeing less drift to Aldi & Lidl, too. An interim dividend of 3.9p has been declared and the company notes that momentum has remained strong for the first few weeks of H2.
#3. Smith & Nephew Q3 numbers show full year performance on track
Smith & Nephew [LON:SN.] have Q3 numbers out today with revenues up by 4.8% but FX headwinds turning this into a modest decline. Full year growth remains on track and is expected to land in the middle of the previously stated 4%-5% range, with profit margin guidance maintained at 17.5%. All sectors and geographies are performing well according to management with the elective surgery rates that the company relies on clearly normalising post-pandemic.