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. Gross sales improve at DFS but high leverage knocks dividend hopes
Furniture retailer DFS LON:DFS issued full year numbers this morning noting gross sales up almost 6%, gross margin 70bps higher and a close on 200% improvement in adjusted pre-tax profits. Leverage does however remain higher than target so management have elected not to propose a dividend, although despite the turbulent macro backdrop, performance for the first 12 week of FY26 has been in line with expectations, whilst previously stated mid-term ambitions remain intact, too.
2. Revenue guidance upped at Halma
Halma LON:HLMA issued a trading update today covering the first half which concludes next week. Management note strong progress, which has been sufficient to allow for an upgrade in revenue guidance. Growth had previously been expected to be in the high single digits, but now a low double-digit percentage uptick is forecast. Currency headwinds are however limiting and adjusted EBIT margin guidance remains unchanged.
3. Babcock remains on track, favourable macro backdrop helping
There’s a pre-AGM trading update out from Babcock LON:BAB this morning. Whilst some divisions have seen order flow increase, this hasn’t been universal with the note flagging lower activity from the rail business, but full year expectations remain on track, helped by a supportive macroeconomic backdrop.
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