Three things you need to know in the financial markets this morning from investment writer, Tony Cross
There’s a half year, pre-close trading update out from Wood Group this morning. Performance is up compared to the same period a year ago – revenues are in line although a 5% uptick is tipped for the second half. Some earnings growth has however come about as a result of margin improvement. Expectations going forward remain unchanged, although there is a modest reduction in debt being indicated.
There’s a pre-close trading update from Bunzl this morning. Expectations for the full year remain unchanged and underlying trading remains consistent with the slowing underlying revenue growth highlighted in the last quarterly update. Group revenue is expected to be up by 4%, a figure that is bolstered by exchange rate movements and the company intends to continue its strategy of growth through acquisition.
Following last week’s successful IPO and close on 20% increase in share price, Trainline shares are admitted to the London Stock Exchange this morning. There can be no doubt that the prior owners have done well out of the sale, especially at a time of such economic uncertainty in the platform’s biggest market. Will it remain full steam ahead for the stock, or will it soon hit the buffers? (sorry…)