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. Sales growth at Primark slows, but market share expands
Associated British Foods LON:ABF issued a trading update for the second half of the year this morning. Management note that the backdrop remains challenging owing to a number of macro factors but despite that, performance is set to be in line with the FY24 figures. Sales growth at Primark is slowing but the brand continues to grow its market share in the UK.
- UK Stock Market News: ABF, Smiths News, Domino’s
- Companies Reporting: Associated British Foods, Vistry
2. Vistry profits down by a third as completions wane
Housebuilder Vistry Group LON:VTY issued its half year numbers this morning, headlining with revenues down 6%, completions 12% lower and pre-tax profits down by a third. That is however said to be in line with the previously offered guidance and the full year outlook remains unchanged, too.
3. Profit boosted at Wickes
The home improvement retailer Wickes LON:WIX released interim numbers today with revenues up 5.6% and adjusted pre-tax profits up by 16.7%. Q3 trading is currently reported as in line with expectations, although rising staff costs are still yet to be felt in full. The Design and Installation service has returned to growth, albeit at a modest level and forecasts for the full year remain unchanged.
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