Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Auto Trader results step up another gear with revenue, margin improvement
Full year results from FTSE-100 listed Auto Trader Group LON:AUTO are out today, noting group revenues up 5%, group operating profits up 8% and group operating margins 2% ahead at 63%. In terms of the outlook, the momentum here is expected to continue building with profit margins building further as a result of reduced losses in the Autorama division.
2. Warm, dry spring hampers performance at Hollywood Bowl
Half year numbers are out from leisure operator Hollywood Bowl LON:BOWL with revenues up 8.4%, but pre-tax profits down by 9.4%. The warm and dry weather seen in recent months has hampered performance although management note that the company has been quick to respond and there’s conviction that recent investments will yield dividends over the peak summer period. It’s worth adding that the timing of the Easter break also had an impact here.
3. Buyout offer for Argentex withdrawn
Argentex LON:AGFX issued a statement this morning noting that the buyout that had been mooted just over a month ago has been withdrawn. The stock was suspended from trading for a period and plummeted to the offer price of just under 2.5p when the listing was resumed. Today’s announcement is therefore unlikely to garner any more support…
