skip to Main Content
enquiries@thearmchairtrader.com

Sign up for our Daily Digest newsletter - receive our daily market analysis and insight every morning

Wetherspoon

We have a third quarter trading update from pubs group Wetherspoon out this morning. Leaving aside the fact its Chairman turns a fair swathe of the note into another platform for Brexit, the underlying position looked reasonably good. Like for like sales over the 13 week period were up 3.5% and with the comparable figure from 2017 covering the early May bank holiday whereas this year’s numbers didn’t, the figure is likely to be slightly understated. The company is – sensibly – making no calls over the impact the football World Cup will have on sales over the summer, but clearly England managing to get beyond the group stages will give the industry as a whole something to cheer.

Provident Financial

Doorstep lenders Provident Financial have published a trading update for the year to date. The company suffered badly last year as a new technology integration meant it was unable to collect payments from many customers, with shares losing 80% of their value as a result. Management have this morning painted an upbeat picture over the company’s recent performance and there’s a commitment to resume dividend payments after last year’s suspension. This might just be sufficient to placate investors.

Imperial Brands

Half year numbers have been published by cigarette maker Imperial Brands and despite the company’s swing towards next generation e-cigarettes, sales are still falling. Revenues are down 0.1%, whilst the operating profit is off 7.6% from the same period a year ago. The adjusted earnings per share have also come up short of expectations but investors are being sweetened with a 10% hike in the dividend.

Share this article

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

Back To Top

Oops! We could not locate your form.

Oops! We could not locate your form.

Oops! We could not locate your form.

Oops! We could not locate your form.

Oops! We could not locate your form.

Sign up for our daily morning digest

Stay ahead with our latest market analysis and insight, direct to your inbox every weekday morning at 8am

  • This field is for validation purposes and should be left unchanged.

 

Market insight and analysis, direct to your inbox

  • This field is for validation purposes and should be left unchanged.

 

Get our morning digest direct to your inbox

Sign up for Three Quick Facts and a wealth of insight & analysis to your inbox every weekday morning at 8am

  • This field is for validation purposes and should be left unchanged.