Workplace software provider Sage found itself at the top of the FTSE-100 in early trade on Tuesday following the publication of a quarterly trading update. Revenues were 10% higher with strong growth being reported both in North America and in terms of recurring fees. Full year growth targets were reiterated and the Sage share price was up as much as 5% shortly after the open - although some of those gains were handed back fairly quickly.
Shareholders in the iconic footwear manufacturer took something of a kicking this morning after the company published its latest quarterly update. With less discounting in evidence and a challenging consumer environment, overall revenues have fallen but management note they are prioritising quality of income and profitability. With that in mind, the company remains on track for significant profit growth over the full year. Asset manager Fidelity was separately reported as increasing its stake in the business to more than 8%. The Dr Martens share price was down around 2% in early trade.
Food manufacturer Cranswick also had a quarterly update out today, covering the peak Christmas period to 27th December. Strong revenue growth was reported, with a line about poultry prices being notable. Costs associated with the move to enhanced welfare lower stocking densities is being passed through to the consumer, whilst onboarding of premium retail businesses is also helping. Management are also upbeat over the demand forecasts for the UK market. Cranswick shares opened close on 5% higher but again handed back some of the gains as the session got underway.
Most read news on Investegate this morning
Third quarter trading statement - - Cranswick (CWK)
