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. Profits jump at Currys as high margin focus yields success
Full year numbers are out from Currys LON:CURY today with the company noting group revenues up 3% and a notably stronger performance coming from the UK & Ireland. Pre-tax profits were up 37%, net cash was around 80% higher and the outlook remains upbeat. The new trading year has started well, performance is running ahead of market consensus and there’s a commitment to continue focusing on higher margin revenue lines.
2. Strong demand for Watches of Switzerland, but macro woes weigh
Watches of Switzerland Group LON:WOSG has full year numbers out today. These show revenues up 8% and some notable weighting into the second half of the year. Demand for key brands remains strong, consistently outstripping supply, but the note does hint at caution looking ahead. The potential impact of tariffs along with the uncertain macroeconomic backdrop are both cause for concern. Revenue growth of 6%-10% is however still predicted but this may come at the expense of some modest decline in EBITDA.
3. Great Portland Estates sees FY ’25 momentum continuing
Great Portland Estates LON:GPE has a Q1 update out this morning, showing momentum in the business being sustained from last year. Sales in Q1 have come in 6.7% ahead of estimated rental value and the forward pipeline also remains strong. A series of disposals are also slated, at prices ahead of previous booked values.
