Medical equipment manufacturers Smith & Nephew published full year results this morning. Whilst markets were clearly expecting news of headwinds from China, the underlying performance remained robust with operating margins being marginally ahead of the previously offered guidance. The dividend was unchanged but management were optimistic that trading profit margins will see further improvements in the current financial year. By mid-morning the stock was leading the FTSE-100, up just over 3%.
The online travel agent saw its shares jump this morning in the wake of news that it had struck a long term distribution partnership with Ryanair. The low-cost airline had been doing battle with travel agencies who were attempting to package ground products with its flights but the terms of this deal evidently provide a meaningful way ahead, bolstering consumer choice in the process. OTB’s shares were some 11% higher a couple of hours into the day’s trade.
The manufacturer and supplier of cleaning products saw its shares jump this morning in response to the publication of half year results. Revenues are up by around 10% whilst the loss reported at the half way point a year ago has been transformed into a £30m profit. The increased demand which has driven the success here has been maintained into the second half, with full year operating profits now expected to be some 10-15% ahead of previous forecasts. Off the back of this, the share price had advanced by more than 16% in early trade.
Headlines we expect on Wednesday
Taylor
Wimpey final results
This time last year Group completions 14,154, UK average selling price £352k, dividend 9.4p
Just Eat
Takeaway final results
This
time last year Orders processed 984 million, Gross transaction value
€28.2bn, EBITDA €19m, forecast EBITDA €225m, upgraded to €320m January 2024
