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. Next-gen products continue to signal growth at Imperial Brands
Full year results are out from Imperial Brands LON:IMB this morning. Management note continued strong operational momentum delivering broad based gains, enabling increased shareholder returns as a result.
Next-generation product revenue saw doble digit percentage increases and whilst cigarette volumes fell, strong pricing here enabled revenues to progress, too. The outlook remains unchanged and the continued share buyback programme will continue to bolster EPS growth.
2. Debt up at FirstGroup but strong cashflows to leave position transient
FirstGroup LON:FGP published interim results today with adjusted revenues up 30%, although profit growth was a more modest 3%. The debt position does seem notable, meaningfully up on decarbonisation initiatives and maintaining shareholder returns, but this is expected to ease by the year end. The group anticipates modest full year growth in earnings per share with this figure remaining stable into FY27.
3. Softcat Q1 update shows broad-based growth
IT infrastructure provider Softcat LON:SCT has a Q1 update out this morning. The level of information available is somewhat limited, but notes that trading was good and strong double-digit year-on-year growth in gross profit and underlying operating profit was seen. Growth was broad-based across the market and management have reiterated the outlook given in the last full year release.
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