Barratt Developments, Sports Direct and Trakm8

“The blue-chip index was in negative territory in early trading with investors looking to UK retail figures, industrial and manufacturing production data and the Halifax house price index later this morning,” says AJ Bell Investment Director Russ Mould.

“It has been ‘business as usual’ for housebuilder Barratt Developments since the EU referendum’s Brexit vote. The group made a record pre-tax profit in its year to the end of June and has made a positive start to the new campaign and remains confident in the strong fundamentals of the housing sector. Barratt is in a strong position with a substantial year end net cash balance and healthy forward sales position.

“Sports Direct’s decision to reject chairman Keith Hellawell’s offer to step down over shortcomings in working practices will not sit well with shareholders. They want fundamental changes at the top of the organisation and have criticised him for failing to show sufficient leadership. Sports Direct’s shares were down by more than 8% in early trading. 

“Vehicle tracking specialist Trakm8’s component costs have risen due to sterling’s weakness post the Brexit vote but this should be partly mitigated by its drive to increase sales overseas. Trakm8 has seen no impact on customer confidence in terms of sales activity and order pipeline since the referendum.”

These articles are for information purposes only and are not a personal recommendation or advice.