Dunelm beat annual sales expectations, Bovis shares holding steady and Greene King see record revenues – Finance Friday
Finance Friday – a brief look at this week’s finance and investor news from around the UK
Dunelm, the UK’s leading homeware retailer, has released a brief update with details of trading over the final quarter of its financial year. The shares rose slightly on the news.
Dunelm’s like-for-like sales beat expectations to rise 3.8% in Q4, however profitability is down. Gross margin (excluding Worldstores) dropped 0.75 percentage points in the quarter.
In a brief trading update ahead of half year results (due on 7 September) Bovis has confirmed trading over the first six months has been in line with the expectations set out in February. The shares were little moved on the news.
Associated British Foods
The ABF business, which includes a range of businesses stretching from Primark to Groceries and Sugar, has seen revenues increase 10% in the first three quarters of the year (as constant exchange rates). Third quarter growth was stronger at 13%.
With third quarter growth coming in slightly ahead of expectations, the group has marginally improved its outlook for the year. The shares rose 3.8% following the announcement.
Greene King saw full year revenues rise 6.9% to a record high of £2.2bn, with operating profit up 4.9% to £411.5m.
The full year dividend per share rose 3.6% in the year to 33.2p, with the shares broadly flat following the announcement.
While fourth quarter like-for-like (LFL) sales growth of 2% was behind the 4% seen over the year as a whole, the group says the UK consumer environment seems to be holding up. The shares rose 1.8% on the news.
Business deals from across the South West
Smith & Williamson’s Bristol team advises brick specialists on £31m acquisition
The Bristol office of accountancy, investment management and tax group, Smith & Williamson, provided financial due diligence to Michelmersh Brick Holdings Plc on its acquisition of Carlton Main Brickworks Limited in a deal valued at £31 million.
Smith & Williamson partner David Roper and his team advised long-standing client Michelmersh on the financial aspects of the deal which is expected to increase the Group’s output to 100 million bricks a year.