Three things you need to know as the UK financial markets open, from Tony Cross.
#1. Digital ticket uptake means full steam ahead at Trainline
Trainline LON:TRN has published interim results with the company continuing to make progress across the board. Sales are up 13% at a group level, although international consumer growth is looking comparatively sluggish despite the driver of emerging competition between carriers.
With more UK consumers switching to digital tickets, this resulted in a 15% lift in sales for the region and delivered a 17% uplift in revenues. Guidance for the full year has been increased, with sales and revenues now set to land at the top end of respective guidance ranges and EBITDA tipped to exceed previously forecast levels.
#2. Renishaw revenues flatline, wage costs hit profitability
Engineering firm Renishaw LON:RSW published full year results this morning with these showing flat revenues and profits down by 13%. It’s a lengthy report and the focus seems to be on looking ahead rather than dissecting what’s passed, although currency headwinds and a rising wage bill are cited as factors here. Management note that FY25 has started on a strong footing.
#3. Global diversification gives Fevertree interims some fizz
Fevertree Drinks LON:FEVR issued its interims today noting that revenues are broadly flat with weakness in UK and Europe being offset by growth in other territories. A 520bps margin improvement is also notable, something that has helped deliver a 15% uptick in gross profits. Momentum looks positive too, with full year revenue growth expected to come in between 4% and 5% and further margin improvements towards the 600bps level are also mooted.
