French Connection, Gulf Marine Services and Flowgroup

“Blue-chips edged lower in early trading following yesterday’s strong start to the week and despite further gains in the US overnight,” says AJ Bell Investment Director Russ Mould.

“French Connection saw an improved performance across all its divisions in the first half of the year but there is still much to do achieve its goal of returning to profitability. Gross margins increased due to higher full price sales of its spring collection and less promotional activity and it has a strong winter order book. French Connection’s shares were down by more than 1.6%.

“Gulf Marine Services was an early faller after first half net profits tumbled in a tough environment. The group has implement a cost reduction programme and its focus now is on increasing vessel utilisation. GMS owns and operates a young and highly flexible fleet and expects to benefit as the market increasingly moves away from older tonnage to more modern technologically-advanced vessels. GMS’s shares were down by over 2.1%.

“Gas and electricity supplier Flowgroup’s shares rose following a 71.6% jump in first half revenues. The group has been bolstered £25.3m fundraising and it has created a firm foundation from which to drive growth and acquire customers moving into the winter period. Flowgroup’s shares were up by more than 1.7%.”

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