Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. 16% rise in Christmas bookings toasted after solid H1 at Fullers
Pub co and hotelier Fuller, Smith & Turner LON:FSTA issued half year numbers today. Revenues were around 7% higher whilst pre tax profits were the best part of 30% up. Management note the exceptional financial performance and shareholders are being rewarded with a 6% increase in the interim dividend.
Christmas bookings are reported as being 16% ahead of the comparative but the note again flags caution ahead of the budget in two weeks’ time. There’s certainly plenty to raise a glass to here, but whether that can be sustained is the big question.
2. Full year guidance upped at Experian
Half year numbers are out from Experian LON:EXPN this morning, with the company noting strong growth, revenues up 12% and pre-tax profits up 36%. All regions contributed to growth with North America leading the pack whilst UK & Ireland was the laggard, up just 1%. The full year outlook has been upgraded with revenue growth set to land at 11%, at the top end of the previously guided range.
3. Economic uncertainty weighing on Taylor Wimpey outlook
Taylor Wimpey LON:TW. issued a trading statement this morning, noting what it called a resilient performance in a challenging market – although the air of economic uncertainty fostered by the government is weighing, Net sales rates for the July-October period were 0.63, down from 0.71.
- Taylor Wimpey stays resilient despite “challenging” housing market
- Taylor Wimpey sets ambitious growth targets on operating assets
The order book is around 7% softer than it was a year ago, underlying pricing is flat and build cost inflation stands in the low single digits. Full year guidance remains on track, but it feels like there’s not that much to cheer here.
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