Three things you need to know in the financial markets this morning from investment writer, Tony Cross
There’s a solid enough set of numbers in from building supply merchant Travis Perkins this morning, broadly in line with analyst expectations. Dividends are slightly ahead of forecast although impairment charges against the company’s Wickes brand pushed the business to a pre-tax loss for the year.
Hotel Chocolat has this morning announced half year results covering the period to December 30th, 2018. The company had a solid Christmas trading period, with revenues up 13%, profits up 7% and 14 new store openings. The falling margin here may raise some questions, although the company adds that sales growth was driven in part by lower margin, less capital intensive wholesale accounts.
Full year results from the engineering specialists Meggitt have been released today, showing a set of numbers broadly in line with expectations. There doesn’t seem to be much that will rock sentiment here, with organic revenue growth of 9%, underlying margins maintained at almost 18% and currency fluctuations counting in the company’s favour, too.