London stocks are set to open lower on Thursday as investors await U.S. inflation data. U.S. indices closed lower on Wednesday, with the Nasdaq trading down 2.48%. Inflation data is forecasted at 8.1%, a small drop from its prior reading.
This Morning’s Roundup sees earnings from Haleon, National Grid, Auto Trader and B&M.
- Haleon reported its Q3 trading statement on Thursday, which saw another quarter of strong growth for the company.
- Q3 reported revenue came 16.1% higher, with 9m reported revenue up 14.4%.
- The company’s e-commerce was 9% of total revenue as the group continued its momentum.
- Furthermore, Haleon upgraded its full-year guidance, expecting FY22 organic revenue growth between 8% and 8.5%.
- National Grid announced its half-year results in a trading statement on Thursday.
- The company said underlying profit before tax jumped 47% to £990 million and EPS came in at 22.8p, up 42% from the prior period.
- The company increased its dividend to 17.84p per share.
- Auto Trader’s half-year results saw its performance strengthen over the last six months.
- Group revenue came in at £249.8 million, 16% higher than the prior year.
- The company reported a profit of £149.1 million, down 2%.
- The board stated it has confidence for the second half of the year due to consistent trading in October and belief that Auto Trader margins can be maintained at 70%.
- B&M’s half-year report saw another strong quarter for the retail firm.
- Group revenue increased 1.8%, with momentum continuing into Q3.
- Adjusted EBITDA of £232 million was driven by the reduction in gross margin.
- Finally, the company will pay an interim dividend of 5p per share, which is at the same level as the previous financial year.