Here are three things you need to know in the financial markets this morning from investment writer, Tony Cross.
#1. Vodafone full year results to reach upper half of guidance
Half year numbers are out from Vodafone [LON:VOD] this morning, showing some solid growth across the board. Group revenues advanced 5% with territories consistently reporting upticks in income from roaming against the same period last year, underlining that the world continues to work its way out of the pandemic. The company sees this as having been a good performance, with expectations now that full year results will reach the upper half of the previously forecast EBITDAaL guidance.
#2. Diageo organic net sales growth of 16% expected in first half
Diageo [LON:DGE] has issued a bullish statement ahead of its capital markets day which includes new medium-term guidance for the business. Organic net sales revenue is now expected to increase by between 5% and 7%, with the company also aiming to achieve a 6% share of the total alcoholic beverage market by 2030, up from the 4% it holds today. Organic net sales growth of at least 16% is now expected in the first half of FY22.
#3. Premier Foods revenues up 7.5%, ahead of expectations
There’s an interesting note out from Premier Foods [LON:PFD] covering half year results to 2nd October. The company saw a big uplift in activity off the back of lockdown as stay at home dining surged and whilst today’s numbers perhaps predictably show a marked decline from the 2020 comparatives – revenues down 6.5% – the headline number remains 7.5% up on 2019. Management see this as being ahead of expectations, with the strong momentum being maintained into the second half of the year. The intention to pay a full year dividend has been reiterated, too.