This week has been a turbulent week for markets as economic data continue to swing the pendulum in each direction. This morning saw UK retail sales MoM at -1%, well below forecasts. However, Friday brings news from Supply@ME, TheWorks.co.uk and SSE.
- Supply@ME reported its year-end business update on Friday.
- The group announced growth in the pipeline of client companies, with warehoused goods inventories valued at £343.5m, up from £329.8m as at September.
- The firm stated that progress has been made in securing traditional funding routes in both European and UK markets.
- TheWorks.co.uk reported its interim results for the 26 weeks ended 30 October.
- The retailer of books, arts and crafts and stationary saw total LFL sales strengthen, with sales growth for the 11 weeks ended 15 January up 5.7%.
- Its store LFL sales increased by 9.7% and its online LFL sales declined 14%.
- Overall revenue grew by 2.4% in its interim results and the group reported a loss before tax of £10.7 million.
- SSE announced its Q3 trading statement on Friday, with adjusted earnings per share expectations updated to more than 150p, up from its prior guidance of 120p.
- The group stated they remain on course to deliver record investment in excess of £2.5bn and its update reflects the strength of the group’s business mix.
- Gregor Alexander, Finance Director said: “SSE is performing well in a shifting and volatile energy landscape, underlining the strength of our balanced business mix and the quality of our assets, and we are well placed to deliver a strong financial performance for the full year.”