Here are three developing stories you need to know about at the UK stock market open, from Tony Cross.
1. Double digit sales growth for Diageo’s Guinness posted amidst uncertainty elsewhere
Interims from Diageo LON:DGE were released this morning with the drinks giant reporting growth in organic sales but currency headwinds served to impact here. Medium term guidance has been removed owing to macroeconomic and political uncertainty in many key markets clouding the position, but it’s not all bad news with the Guinness brand achieving double digit growth for an eighth consecutive half year period. The note adds that whilst the business modelled for the potential of US tariffs to impact numbers, the moves from the weekend could go on to impact momentum.
2. Decent underlying revenue growth at Vodafone
Mobile phone operator Vodafone LON:VOD has a Q3 update out today, noting revenue growth of 5.2%. That was supported by growth in the UK, Türkiye and Africa, and whilst Germany struggled against regulatory change, improving customer trends are now being seen. Full year guidance has been reiterated.
3. Crest Nicholson profits fall but optimism over year ahead
House builder Crest Nicholson LON:CRST has published full year results this morning for the 12 months to 31st October. Revenues are down 6% whilst operating profits slipped almost 40% against a 7% drop in completions. Recent sales patterns have pointed towards a recovery and whilst management remain cautious, they anticipate greater stabilisation in the market and believe there’s also pent-up demand building. That’s leading to forecasts of a material improvement in pre-tax profits for FY25.
