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. Reservation rates up and build cost inflation in check at Barratt Redrow
Barratt Redrow [LON:BTRW] published a trading update this morning noting a solid performance against a challenging trading backdrop. Highlighting weak consumer confidence, the ongoing structural shortage of housing supply continues to bode well. Reservation rates are up from the comparative, full year pre-tax profits are set to be in line with expectations and there are no shocks expected in build cost inflation.
2. Sales higher but some margin pressures at B&M
B&M LON:BME issued a quarterly trading update, noting group revenues up 4.4% YoY but adding that actual selling price deflation had resulted in lower margins on some general merchandise categories. Otherwise the picture looks positive across all channels.
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3. Genus ups profit guidance
The animal genetics company Genus LON:GNS issued a trading update with a strong underlying performance with trading ahead of expectations and this has been sufficient to see the company revise its full year pre-tax profit forecasts to at least £72m, up from the previously stated £63m and helped in part by a milestone payment.
