Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Revenue jumps at Safestay
Hostel operator Safestay LON:SSTY has this morning issued full year results noting revenues up by 18% and an adjusted EBITDA increase of 15% although losses have jumped from £0.1m to £1.3m following a hefty impairment charge against the company’s Bratislava operation. Forward bookings are however strong and the company also announced a new acquisition this morning with a 220 bed property coming on stream.
- SRT Marine Systems confident of 2025 outlook despite short-term challenges
- Companies Reporting: Bellway, LVMH, ASML, Whitbread, Netflix
- Small Cap Stocks: Gfinity, Seeen, Blue Star Capital
#2. Bellway sees average sales prices higher than expected
There’s a trading update out from Bellway LON:BWY today noting strengthening sales and the company also expects average selling prices to be around 3% higher than had been forecast although that’s still below levels reported a year ago. Financial growth is expected to resume in FY25.
#3. Contract delays hit revenues at SRT Marine
SRT Marine LON:SRT have also issued a trading update, cautioning that new product revenue milestones which had been expected to land in the current financial year will now slip. That’s a result of longer than expected contract completion times but management are eager to stress that this doesn’t reflect the underlying fundamentals of the business.
