Travel operator Thomas Cook (LON:TCG) has “got the year off to a good start”, seeing a 7 percent revenue rise in the first quarter of the year. Seasonal underlying operating loss improved by £10 million to £42 million, with its full year outlook remaining in line with expectations. Gross profit increased by £16 million to £376 million, despite a 50 basis point fall in gross margin to gross 21.5 percent due to higher hotel prices in Spain and fewer long haul sales. The group said: “From all that we see so far, customers’ appetite for a summer holiday abroad shows no sign of slowing down. We’ve taken early action to meet strong demand for destinations in the Eastern Mediterranean. This has enabled us to shift capacity out of the Spanish islands where we have seen a continuation of the margin pressures we experienced last summer.” The group’s own airline also saw an improvement in performance, reporting an underlying loss of £13 million – an improvement of £9 million. Peter Fankhauser, chief executive of Thomas Cook, said: “This remains a highly competitive – and, at times, unpredictable – market, as the disruption in the airlines sector in recent months demonstrates. However, based on current trading and the continued progress we are making on implementing our customer-focused strategy for profitable growth, we expect to deliver a performance in line with current expectations for the full year.” Shares in Thomas Cook are currently trading down 2.87 percent on the news, at 121.70 (0846GMT).

Investment manager Ashmore Group (LON:ASHM) reported an 18 percent growth in assets under management on Thursday, boosted by strong performance across the emerging markets. The group reported net inflows of $7.9 billion over the six months to the 31st December, and positive market performance of $3.2 billion. Profit before tax fell by 18.5 percent to £99 million, leading diluted earnings per share to sink 19 percent. However, net inflows investment processes continued to deliver strong investment performance, with 82 percent of AuM outperforming benchmarks over one year, 93 percent over three years and 87 percent over five years. “The favourable environment for Emerging Markets is reflected in Ashmore’s solid operating performance during the period,” said chief executive Mark Coombs. “We expect another good year of performance across the range of Emerging Markets asset classes in 2018, as economic conditions continue to be supportive, valuations remain attractive, and therefore investors continue to increase allocations.” Shares in Ashmore Group are currently down 0.67 percent at 417.20 (0938GMT).

Compass Group (LON:CPG) shares jumped 5 percent on Thursday, after reporting organic revenue growth for the first three months to 31 December of 5.9 percent. The strongest region for the period was North America, which saw an 8.2 percent increase in organic revenue, boosted by a particularly strong performance in the Healthcare & Seniors, Vending and Sports & Leisure sectors. Europe saw revenue growth of 2.1 percent, with organic revenue across the Rest of the World up 4 percent. The hospitality group did note that currency movements were likely to have a negative effect over the remainder of the year, with foreign exchange translation likely to negatively impact 2017 revenue by £1.2 billion and operating profit by £97 million if current spot rates continue for the rest of the year. Looking forward, Compass said its outlook for 2018 is “positive”, and that, in the longer term, it “remains excited about the significant structural growth opportunities globally and the potential for further revenue and margin growth.”  

Beach holiday retailer On The Beach saw revenue rise 23 percent in the three months to the end of January, boosted by both core business and its sunshine.co.uk acquisition.

The group said it had continued to “perform well” over the period, despite price increases in the market year-on-year for winter departures due to the failure of Monarch Airlines.

However, the group said summer 2018 seat prices would remain broadly flat, with other carriers adding incremental capacity from Easter 2018 onwards.

“These pricing factors, together with a return of customer demand for destinations in the Eastern Mediterranean, are helping to drive strong bookings growth for summer 2018 departures,” the group said.

Simon Cooper, Chief Executive of On the Beach Group plc, commented:

“The first four months of the new financial year has delivered another solid period of growth for the On the Beach, Sunshine and ebeach brands. Our strategy of investing in our brands, talent and technology to drive growth has delivered performance in line with the Board’s expectations, with consumers attracted to our wide range of value for money beach holidays. The Board remains confident in the Group’s outlook and will continue to evaluate opportunities to enhance its market share position.”

On The Beach (LON:OTB) shares are currently trading up 0.40 percent at 503.00 (0818GMT).

Rio Tinto (RIO:LON) announced the highest EBITDA margin for ten years helped by a jump in earnings. The diversified miner also released details of a $1 billion share buy-back, a welcome return to shareholder which comes in addition to a full year dividend of 290 cents per share. Rio Tinto have been helped by an upswing in commodity prices as demand for China remains robust and the global economic recovery stays on track. “Today we have announced a strong set of results with operating cash flow of $13.9 billion, a record full year dividend of $5.2 billion and an additional $1 billion share buy-back. This brings total cash returns to shareholders to $9.7 billion declared for 2017. “The strength of our cash flow is a result of resilient prices during the year coupled with a robust operational performance and a focus on mine to market productivity. “Our strong balance sheet, world-class assets and disciplined allocation of capital puts us in the unique position of being able to invest in high-value growth through the cycle, and consistently deliver superior cash returns to shareholders.”

Hargreaves Lansdown (LON:HL) reported strong figures for the six months to the end of 2017, with pre-tax profits benefitting from an increase in client numbers. Assets under administration rose 9 percent over the period to £86.1 billion, with pre-tax profits rising 12 percent to £146.9 million. Net new business hit £3.34 billion during the period, up 43 percent compared to the same period a year ago. The group added 61,000 new clients over the period, to mark a total of 1,015,000 active clients since 30 June 2017. Diluted earnings per share rose 12 percent to 25 pence during the six month period, with interim dividend per share up 17 percent to 10.1 pence. “I’m pleased to report another strong period of growth for Hargreaves Lansdown for client numbers, revenue and profit. We have a significant market opportunity with a clear strategy focused on our clients’ needs and offering great value and service to them,” said Chris Hill, Chief Executive Officer. “Our aim of making it easy and efficient for clients to manage their savings and investments in a secure environment and empowering them to save and invest with confidence is at the heart of our business, and was reflected in our continued growth during the first half of our 2018 financial year.” Hargreaves Lansdown shares are currently trading down 1.61 percent at 1,802.00 (0907GMT), largely as a result of the global share sell-off which took place this morning.

The FTSE plunged to its lowest level in a year on Tuesday morning, after a global stock sell-off hit markets across the world overnight. European markets in Frankfurt and Paris opened down around 3 percent, after seeing Japan’s Nikkei index close down over 4 percent and the Dow Jones lose 4.6 percent of its value. The FTSE followed suit upon opening on Tuesday, trading down 1.98 percent at 0830GMT and continuing to fall. Every share in the FTSE 100 has taken a hit. The sell-off began after positive US jobs data showed the Federal Reserve may need to consider borrowing rates faster than previously expected. It is worth remembering, however, that despite the UK’s uncertainty the FTSE had a strong year last year, gaining 7.6 percent. It has been over a year since a fall of 3 percent, and it may just be a sign that the markets are calming slightly after a period of strong performance.

Ocado shares fell over 6 percent at market open on Tuesday, after pre-tax profit plunged by over £11 million. Pre-tax profit dropped in the year to December’s end, from £12.1 million in 2016 to to £1.0 million in 2017. Total order volumes at the online grocery store rose by 14.3 percent during the period to an average of 263,000 per week, but the group said that the higher revenue was offset by mounting staff costs and investments in its business. Active customers were also rose 11.2 percent to 645,000 but the average basket declined slightly to £107.20, impacted by continued uptake of Ocado Smart Pass and the ongoing trend of ordering on mobile phones. With market conditions remaining stable, the group said it was confident of achieving revenue growth in its retail business of between 10-15 percent in the 2018 financial year as it increased its fulfilment capacity and grew market share in the UK.

“Profitability in the period was adversely impacted by the wage increases partly impacted by increased national living wage, higher costs associated with the opening of Andover customer fulfilment centre, our continued investment in a number of strategic initiatives to aid future growth, and additional depreciation,” the company said.

The group also announced a share placement of around 5 percent of the company’s existing capital, in order to raise funds for expansion.

Ocado shares are currently trading down 6.46 percent on the news at 460.80 (0820GMT).