Three developing stories at the UK stock market open.
1. Full year profit achieved for Deliveroo
Full year numbers are out from Deliveroo LON:ROO this morning, with the company noting a good year of growth, Gross transaction value was up 6% with a weighting into the second half of the year. Adjusted EBITDA came in at the top end of guidance and the outlook is upbeat, too, with GTV expected to be in high single digits, moving to mid-teens in the medium term. The company also posted its first ever full year profit.
2. Volution notes market outperformance against difficult backdrop
There’s a trading statement out from Trainline LON:TRN this morning with the company reporting yet more growth. Net ticket sales are up 12% with UK domestic growth continuing to lead the way, whilst impressive revenue gains for its ‘solutions’ business have been notable, although 80% of income here is from internal business lines. The company has also announced a further £75m share buy back scheme. There is a note regarding the impact of the GB Rail roll-out, management are confident that Trainline still has a role to play here, but this remains a dynamic landscape.
3. £75m share buyback on track at Trainline
Volution Group LON:FAN has interim numbers out today with revenues up 8.9%, adjusted operating profits some 10.4% ahead and the company is declaring a half-year dividend of 3.4p. Management note market outperformance, with the performance bolstered by the recent acquisition of Fantech and although acknowledging broader macroeconomic woes, they note that tighter building regulations and better awareness of the importance of indoor air quality both bode well for the business.
