Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Unilever’s inflation concerns ebbing
Q3 numbers from Unilever LON:ULVR are out this morning, showing that receding inflationary pressures are moderating price growth although sales growth estimates for the FY remain unchanged at around 5%. However management once again acknowledge that the company’s performance isn’t in line with the stature of its brands so has set out a plan of action to bolster margins and improve capital returns.
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#2. PPHE Hotel Group: strong momentum but occupancy levels still below 80%
There are Q3 numbers out from hotelier PPHE [LON:PPHE] with revenues up 8.8% on the comparative and 16.5% up on pre-pandemic levels. Room rates are reported as being stable following strong momentum in Q2 and occupancy levels continue to edge higher, although still only sit at what seems like a modest 77.5%.
#3. WPP full year outlook revised lower
And Q3 numbers from advertising giants WPP LON:WPP are out today, too. Revenue growth is reported on a like for like basis although weakness is emerging from technology clients and also those based in China resulting in top line performance coming in below expectations. Revenue guidance for the full year has been adjusted lower, with growth now tipped to come in around 0.5%-1% against previous calls of 1.5%-3%. Operating margins are also revised fractionally lower.
