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. IHG eyes continued growth despite macro headwinds
Hotel group InterContinental LON:IHG issued a Q1 update this morning with key metrics all showing good signs of progress aside from falling RevPAR (revenue per available room) in China. Perhaps more critically is the fact that growth trajectories are being maintained for Q2 despite the well reported macroeconomic weakness. Management believes the company remains on track for the full year although acknowledges there’s still some way to go.
2. Eco-friendly product lines boost Mondi’s performance
Packaging firm Mondi LON:MNDI also had a Q1 update out where increased volumes and cost control managed to offset falling prices, with the company’s sustainable product lines being seen as a key differentiator in the market. That’s delivered a significant YoY uptick in EBITDA, whilst on the subject of tariffs, the company believes it is well insulated although acknowledges that it could get caught in what it terms second order impacts as its own clients suffer.
3. FY guidance upped at Next
A better than expected Q1 from homewear and fashion retailer Next LON:NXT was reported this morning, with the result that the company has already upgraded full year pre-tax profit forecasts by £14m. The overperformance is however being attributed to warmer weather which could see purchases having been pulled forward from Q2 so the company is leaving sales guidance unchanged. The company is also working against tough comparatives in H2 and adds that the wider economic impact of increased National Insurance costs will only filter through later in the year, too.
