Updates from Tui Travel, Smith & Nephew and Compass Group

The FTSE 100 climbed 12 points yesterday to 6,295. Hargreaves Lansdown, for the second day running, was the biggest gainer, up +11.23%. Going in the opposite direction, Unilever sank -2.00%.

Overnight, Asian stocks were more subdued with the Japanese Nikkei losing around -1%. Ahead of the Chinese Lunar New Year holiday, the Hang Seng slipped -0.41% to 23,163.
We commence Thursday with an Q1 update from Tui Travel. Underlying operating losses have been clipped by £16m to £93m with outperformance from the UK and Nordic markets; overall annual performance is expected towards "the top end of roadmap guidance" for the full year.

There was significant growth in UK cumulative market share with Summer 2013 up 4% and the key January booking period up 2%, gaining on the 7% increase in the same period last year, claims the company. In terms of Winter 2012/13, 83% of holidays have now been sold with higher margins, though average selling prices.

"Our leading position in the UK," says boss Peter Long, "has further benefited from increased market share as a result of higher demand for our unique holidays. Across all our key markets demand for the overseas holiday remains strong, despite the overall economic environment."

Next, Smith & Nephew. The global medical tech business claims "good" underlying growth in Q4 with revenue up 3% at $1,077m and trading profit up 2% at $272m. For the full year there's underlying growth in revenue up 2% to $4,137m; trading profit climbs 6% to $965m.

Full Year trading profit margin rises by 80bps to 23.3% while the final dividend is up 50% to 16.2 cents per share, giving total 2012 dividends of 26.1 cents per share. Addtionally the company claims a new efficiency programme is on track for $150m annual savings in 2014.

"Looking at the Full Year," says CEO Olivier Bohuon, "we generated good revenue and profit growth and a healthy 80 basis points increase in trading profit margin. The acquisition of Healthpoint, a leader in the fastest growing area of advanced wound management, clearly demonstrates our delivery in action."

Lastly, caterer Compass Group. In an interim Compass claims a solid start to the financial year with first quarter organic revenue growth of nearly 6%. Organic revenue growth in North America was particularly strong it says, though the environment in Europe remains "difficult", however its cost reduction plans are on track, it claims.

Latin America and Asia continues to enjoy strong levels of organic revenue growth from both new business wins and like-for-like revenue, with particularly good performances in Australia, Turkey and Latin America it says.

"In the longer term," says Compass, "we remain positive about the significant structural growth opportunities in both food and support services globally and the potential for further revenue and margin growth."

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