3 ASX 200 shares rising after Q1 trading updates

It has been a busy day for the S&P/ASX 200 Index (ASX: XJO) with plenty of updates hitting the wires.

For example, three ASX 200 shares that have released trading updates today are listed below. Here’s how they are performing in FY 2023:

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up 1.5% to $17.41 following the release of a trading update at the corporate travel manager’s annual general meeting.

Corporate Travel Management revealed that it had a record month in September, with total transaction value (TTV) at approximately $0.8 billion. And while its revenue recovery was only at 75% of pre-COVID levels, it has climbed higher in October. This bodes well, as consensus estimates require a ~80% revenue recovery across FY 2023.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price is up slightly to $42.92. This follows a solid update from the retail giant this morning.

JB Hi-Fi advised that all its businesses have delivered double-digit sales growth during the first quarter of FY 2023. The JB Hi-Fi Australia business posted a 14.6% increase in sales, the New Zealand business delivered a 27.7% increase in sales, and The Good Guys business reported a 12.3% increase in sales.

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price is up 3% to $10.03. This morning the owner of brands including Rebel and Super Cheap Auto released a trading update ahead of its annual general meeting.

That update reveals that like for like sales were up 20% during the first 16 weeks of FY 2023. Though, it is worth highlighting that lockdowns were occurring in the prior corresponding period. As a result, management has warned investors not to extrapolate this growth. Another positive was that its gross margin remains consistent with the same period last year.

Management also warned that “[w]hile current trading remains strong, the Group expects higher mortgage rates and increased cost of living expenses will begin to impact consumer spending.”

The post 3 ASX 200 shares rising after Q1 trading updates appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited and JB Hi-Fi Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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