Below is a selection of the morning's key market news, earning reports & trending stories - see more here.
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JD Sports (JD.) sidestepped troubles on the British high street with a 35% revenue increase and 19% pretax profit rise in its interims.
The group also posted a record EBITDA increase of 26%, and a like-for-like sales increase of 3%.
Speaking about the results, Executive Chairman Peter Cowgill said: "Against a backdrop of widely reported retail challenges in the UK, it is extremely reassuring that the profitability in the UK and Ireland Sports Fascias has been further enhanced.
“This reflects the value of the investments that we have made over a number of years in developing a dynamic multichannel proposition which marries the best of physical and digital retail enabling customers to interact with us where and when they want and through the channel of their choice.”
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Two recently-listed companies announced impressive results with their maiden half year results today - Team17 and SimplyBiz
Games company Team17 (TM17) posted a very strong revenue of increase of 48% to £15.4m, and a gross profit increase of 25% to £6.9m.
Adjusted EBITDA also grew by 36% to £4.9m, as the company said its performance would still be “second half weighted as expected in line with previous years”.
Team17 CEO Debbie Bestwick said: "We are delighted to announce our maiden interim results as a public company, further demonstrating the strong progress we are making as a business.
“Following our successful IPO, we have a strong base from which to push forward with the business, and continue to grow the footprint and our international fan base.
“We continue to strengthen our international relationships and work with independent developers on exciting new games, and through lifecycle management, ensure the longevity of our back catalogue."
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Elsewhere, SimplyBiz (SBIZ) posted a revenue increase of 13.7% to £24.1m, and a 22% increase in adjusted EBITDA.
Pretax profit also saw a strong 60.8% growth to £4.5m following its £30m IPO on AIM earlier this year.
Ken Davy, Chairman, said: “Our performance in the first half of 2018 has maintained our trading momentum, delivering strong top line organic and acquisition growth of over 13% and increasing our adjusted EBITDA margins to 22%.
"Our IPO in April 2018 has been very well received by our members and partners, and we have already witnessed positive commercial and reputational benefit. We continue to increase the number of members and channel partners that we serve, as well as look to pursue selective acquisitions.”
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Profits at equipment rental company Ashtead (AHT) grew 23% £286m on the back of a weaker pound.
Rental revenue grew 19% as the company announced it will extend its share buyback plans, with full year results predicted to beat current expectations.Ashtead chief executive Geoff Drabble said: "Our business is performing well in supportive end markets. With the benefit of weaker sterling, we expect full year results to be ahead of our expectations and the Board continues to look to the medium term with confidence.
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