Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. YouGov interims show strong sales pipe
Interims from YouGov LON:YOU are out today, covering the six months to 31st January. Revenues are up 30%, operating profits have risen 58% and margins have improved by 300 basis points. The strong performance came against a difficult macro environment with momentum being maintained but the company also notes that it is seeing a slowdown in some instances in terms of decision making. Management are confident that full year expectations in terms of sales growth will be met.
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#2. SThree’s growing contract work driving growth in Q1
Specialist recruiter SThree LON:STEM has issued a trading update for the three months to 28th February. Fees are up 4% which is in line with expectations and whilst the company notes the uncertain macroeconomic outlook, the focus on shorter term contract work which now represents 81% of the order book should serve to maximise potential.
#3. Kingfisher full year results show YoY decline, dividend maintained
Kingfisher LON:KGF has published full year results to 31st January this morning, with sales down fractionally, gross profits off by almost 3% and margins eroded by 70 basis points. Management see that as in line with expectations, are proposing maintaining the total dividend at 12.4p per share and add that like for like sales sit some 15.6% ahead of pre-pandemic levels, although inflation needs to be accounted for here. Sales in Feb ’23 were better than the comparator and for the year ahead the business is comfortable with analyst expectations in terms of profitability.
