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. Losses reversed in H1 and trading ahead of forecasts at Saga
Interim results were published by over-50s lifestyle company Saga LON:SAGA this morning. Revenues added 9%, and the pre-tax losses of the comparative were eradicated. The period saw trading ahead of expectations, increasing prospects for the full year despite facing higher financing costs. Management believes previously stated targets of achieving underlying profitability of at least £100m by 2030 are on track.
2. Minimal tariff impact seen at JD, full year on track
Athleisurewear retailer JD Sports LON:JD. issued interims today with sales 18% ahead although this has come at the expense of a 60bps gross margin erosion with operating profits down 8.2%. Management note that the performance comes against a strained consumer backdrop with market share gains being reported on both sides of the Atlantic. The full year outlook remains as previously guided and there’s limited impact from US tariffs expected this year.
3. £25m share buyback as On The Beach outperforms market
Travel agency On The Beach LON:OTB published a pre-close statement for the full year this morning noting an 11% increase in total transaction value and a 12% uptick in the number of bookings, showing meaningful outperformance. The picture is slightly less optimistic going forward as market trends are for bookings to be made closer to departure, but demand for the winter 25 rotation is 12% up YoY. Management have elected to launch a further £25m share buyback.
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