Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. SSP on track for FY24
Catering group SSP LON:SSPG published half year numbers this morning with revenues up 15%, operating profits 21% higher and an unchanged interim dividend of 1.2p per share. The ongoing recovery in rail passenger numbers has been singled out as helping contribute to growth in the UK, although higher levels of industrial action have impacted performance in France and Germany.
Trading momentum remains upbeat and management are confident that the company will deliver against the previously stated planning assumptions for the full year.
- UK Stock Market News: Ocado, Smiths, JD Sports
- Three Quick Facts: Kingfisher, Shoe Zone, Dalata
- Three Quick Facts: Marston’s, On The Beach, SSP
#2. Weak French performance weighs on Kingfisher
Kingfisher LON:KGF has issued a Q1 update this morning with group sales essentially flat year on year. At a regional level, UK and Eastern European sales performed well with France lagging and the full year guidance has been confirmed. However underlying sales trends continue to lag as the new quarter gets underway.
#3. Steady going at Smiths Group
The diversified multinational engineering firm Smiths Group LON:SMIN published its Q3 numbers today and reaffirmed full year guidance too with margins set to land within the medium term range of 4%-6%. Revenue growth for the period expanded by 7.7%.
