Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Wetherspoon half year numbers showing strong underlying momentum
Pub operator Wetherspoon LON:JDW has issued preliminary results this morning for the six months to end of January. Revenues are up around 12% with increased footfall having a material impact on profitability, too, with momentum being sustained in the first seven weeks of the new trading period. There are cumbersome references to pre-pandemic revenues dotted throughout but these could be seen as distracting given the significant impact of inflation over the time horizon. Regardless, management is encouraged by underlying conditions and what this means for future performance.
- UK Stock Market News: Wetherspoons, ASOS, Energean
- UK Stock Market News: Cranswick, Prudential, Games Workshop
- Companies Reporting: Prudential, M&G, Wetherspoons
#2. Record revenues from diamond miner Gemfields Group
AIM listed Gemfields Group [LON:GEM] published full year results to 31st December today noting that record revenues were achieved, up 32%, whilst EBITDA grew by 25%. Shareholders are being rewarded with a record dividend payout.
#3. Games Workshop Q3 in line with expectations
There’s a trading update from Games Workshop LON:GAW covering the December-February period which notes that trading has been in line with expectations. A dividend of £1.20 per share has also been declared as the company distributes surplus cash including the remainder of a £12m tax rebate from France. The full year update is expected to be published in June.
