Here are three developing stories you need to know about at the UK stock market open, from Tony Cross.
- Revenues tick higher at Experian
- Margin discipline sees Currys upgrade profit outlook
- Fiinu flags first white label BaaS deal with UK bank
1. Revenues tick higher at Experian
There’s a Q3 trading update out from Experian LON:EXPN this morning, noting another strong period of growth. Global revenues are 8% higher on a constant currency basis, with North America – which accounts for 68% of group income maintaining a steady performance.
2. Margin discipline sees Currys upgrade profit outlook
There’s a profit upgrade form electrical retailer Currys LON:CURY today of fteh back of their trading update covering the 10 weeks to 4th January. UK revenue on a like for like basis over the peak trading period was up 2% but management note that margins have been maintained and the business hasn’t chased a low margin strategy. Market share gains have been achieved in what is a recognised soft underlying market and adjusted pre-tax profits are now expected to come in around the £145m-£155m range, ahead of the £140m consensus.
3. Fiinu flags first white label BaaS deal with UK bank
Fintech provider Fiinu LON:BANK has this morning announced it has signed a heads of terms agreement with a UK bank. This will cover delivery of its flagship Plugin Overdraft product. Details beyond this are scant but the deal is contingent on various prerequisites including testing. Product launch is schedule for Q4 ’25 and after this, royalty payments will be made to Fiinu, based on the bank’s audited profits from the deployment.