Here are three developing stories you need to know about at the UK stock market open, from Tony Cross.
1. Ibstock on track, smoother road ahead
Building products manufacturer Ibstock LON:IBST have this morning issued a full year trading update, noting performance in line with expectations – revenues are down but that tallies with broader headwinds faced by the sector – and forecasting an improvement in the year ahead.
2. Dunelm margins improve as digital shift continues
There’s a half year trading update out from Dunelm LON:DNLM which shows sales up 2.4%, but momentum was slowing in the second quarter, reflecting the challenging market conditions. Gross margins have however improved, with continued support for digital sales being noted too, now accounting for 40% of revenue. Full year forecasts remain on track.
3. Pearson profits up and flag AI deployment
And a full year trading update has also been released by Pearson LON:PSON, with underlying sales growth of 3% being noted. Profits are 10% up from the 2023 position and that equates to a margin of 16.8%. Deployment of AI technologies are noted as supporting the broader proposition and also underlining the opportunities that lie ahead. Full year results are due to be published at the end of next month.