Mondi, Dunelm and PageGroup

“The FTSE100 opened higher despite ongoing turmoil in Catalan, further questions over the UK Government's ability to deliver a satisfactory Brexit deal and mixed messages regarding the state of the UK economy from Bank of England governor, Mark Carney,” says AJ Bell Investment Director Russ Mould.

“Packaging and paper group Mondi was the biggest blue-chip faller after warning that its full-year results would be modestly below forecasts. Like-for-like sales are up and average selling prices are generally higher but the group is beset by continuing cost pressures and currency losses. Mondi’s shares were down by more than 5.8% in early trading.

“Home furnishings group Dunelm topped the FTSE250 board after first quarter revenues rose by nearly 25%. The group maintained the good momentum from the final quarter of the previous financial year and like-for-like sales were boosted by favourable weather comparatives. Dunelm continues to outperform the homewares market, with strong growth across the business, especially online. Dunelm’s shares were up by over 5%.

“Recruitment group PageGroup’s shares fell despite an 11.8% rise in third quarter profits. The group was buoyed by strong overseas results which offset challenging conditions in the UK. Growth in gross profits from permanent and temporary recruitment was virtually identical and resulted in a ratio of permanent to temporary recruitment of 75:25. PageGroup’s shares were down by more than 4.3%.”

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