We had a nice chuckle at James Murdoch’s expense yesterday, about his mention in the Campbell Diaries, but today you have to applaud him. BSkyB has added 90,000 net new customers in the fourth quarter, way ahead of expectations. Some analysts had expected just 60,000. The shares, up about 30 per cent this year, are soaring, up more than 5 per cent this morning.
Moneysupermarket has said it will price this month’s IPO at 170p-210p, raising £388m at the mid-point of that range and valuing the price comparison website at just under £1bn. Worth remembering that one of the co-founders, Duncan Cameron, sold a 45 per cent stake last month to the chief executive and co-founder, Simon Nixon, for just £162m.
We have a trading statement from J Sainsbury but frankly it’s a bit dull so we’ll have to see if Justin King, the chief executive, can say anything to liven it up a bit.
We also have strong Q1 revenue growth at Burberry, much of it from overseas; news of a very strong first quarter from the London Stock Exchange; and a reasonably upbeat trading statement from Barratt.