Three things you need to know as the UK financial markets open, from Tony Cross.
#1. Dividend restored at JD Wetherspoon
Full year numbers from ‘spoons LON:JDW are out this morning with the pub group noting meaningful progress and resuming dividend payments. Revenues are up 5.7%, operating profits have risen by just over 30% and a 12p per share dividend has been declared. Showing something of a lack of enthusiasm, Wetherspoons Chairman Tim Martin noted the company expects a reasonable outcome for the current financial year, subject to future sales performance.
#2. Virgin Wines now selling through Ocado
An interesting tie-up here with a strategic partnership between Virgin Wines LON:VINO and Ocado LON:OCDO being announced. Virgin Wines will be offering a selection of its bottles to Ocado customers on a per-bottle basis, as opposed to having to order entire cases. Clearly this also expands the reach of the Virgin Wine brand as well as providing another revenue line for Ocado.
#3. Versarien sees notable order book growth
AIM listed material engineering group Versarien LON:VRS has published a corporate update today. The lengthy note includes quite a few points but the highlight seems to revolve around the pipeline of opportunities having close on trebled over the last year, now standing at just under £5m.
