Three key news stories unfolding as the UK stock market opens. See the Companies Reporting diary.
1. Profit upgrade at Currys
Electrical retailer Currys LON:CURY has issued a note this morning advising that following a robust start to the year, profit guidance for FY25 is being upped to around £160m from the previously forecast £140m-£145m. The group expects to finish the year in a strong cash position and a full year trading update will be published on 21st May.
2. Chapel Down shows resilience despite weak consumer market
Wine producer Chapel Down [LON:CDG] issued full year results this morning. That’s looking like something of a mixed bag – the exit from the spirits business has bolstered the company’s position, but net sales revenue is still down year on year as expected. Despite the uncertain consumer outlook, the company is trading well ahead of prior expectations and is eyeing strong sales growth for the year with a return to full profitability.
3. Primary Health revises Assura offer
The future of Assura LON:AGR is once again in the spotlight after Primary Health Properties reported that it had made a combined cash and shares bid for the company, which implies a value of 46.2p per Assura share. Assura is also being pursued by private equity businesses so the note goes on to detail the benefits that shareholders can expect from the combined companies. The shares closed last night at 46.48p and the cash component here is lower than the PE offer – although obviously cuts owners from any potential forward earnings.
