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. Market share gains across Kingfisher, UK sales shone
There’s a Q1 trading update out from Kingfisher LON:KGF this morning with group sales 3.3% higher, lead by the UK market. Market share gains were also reported in many territories despite some challenging conditions being observed and full year guidance remains unchanged.
The note adds that with little product exposure to the US and no sales across the Atlantic, management expect the tariff moves to have no direct impact, although acknowledge this could feed into inflation and market demand.
2. Pets’ vets division delivers again – despite CMA threat to ruffle feathers
Full year results for Pets at Home LON:PETS are out today with group revenues flat, pre-tax profits up 14% and shareholders receiving a 1.6% uptick in dividend payments. Management note another strong year in the vets business (revenues up 13% against retail consumer revenue down 1.8%) although they also acknowledge the ongoing CMA investigation.
The note adds that the company is building out an insurance option which will likely be loss-making for the first two years, but is capable of delivering 10% to group profits. Subdued consumer confidence plus rising labour costs see the company eyeing a flat performance for FY26.
3. Trading update sees Softcat increase full year guidance by a fraction
IT infrastructure provider Softcat LON:SCT has published a Q3 trading update this morning although details are admittedly in short supply. Critically, however, with a series of larger deals having been landed, the company now expects operating profit growth in the low-teens, up from the previously stated low double-digit uptick. It’s an opaque assessment, but one that shareholders may be ready to applaud.
