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. Impairments, net interest margin down at OSB
Amidst thin pickings for corporate news, lending and retail savings play OSB Group LON:OSB issued interim results. The net loan book grew 1.2%, but net interest margin contracted by 7 basis points, although the loan loss ratio was just 2 basis points, half the level reported in the comparative period. Retail deposits also grew but the RoTE contracted to 13.7%, against 17.4% in H2 ’24 and 12.5% in H1 ’24.
2. Angling Direct lures more customers, revenues up
Half year numbers from Angling Direct LON:ANG saw revenues grow 17% although cash reserves were eroded. Store network expansion continues and the sustained growth seen here belies the broader economic backdrop. The board remains confident that the company is trading in line with full year expectations.
3. Lithium plant update from Premier African raises questions
Premier African LON:PREM issued an update on its Zulu lithium plant this morning. Testing continues to proceed as planned and conversations with buyers are also progressing, although remain very much in an active phase. Plans to commission a secondary flotation plant have also been put on hold awaiting further management review. Are there more questions than answers in this update?
