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. Performance on track at SSP, but management note more to be done
Commercial catering group SSP LON:SSPG published full year numbers this morning, noting revenues up 6%, operating profits 8.3% higher and margins improved by 10 basis points. Management notes however that there’s more to be done in terms of strengthening operational performance especially in continental Europe with a review of the company’s rail operations starting now. Despite macroeconomic uncertainty, FY26 sales have started well, tracking 4% above the comparative.
2. Profits dip at Frasers but luxury channels outperform
Half year results from Frasers LON:FRAS are out today with group revenues up 5%. That’s largely been driven by overseas performance, but an increase in impairments and higher interest costs knocked pre-tax profits 2.8% lower. There’s optimism over the outlook however with improved margins being seen in the luxury lines and despite the challenging consumer environment along with high inventory levels, full year profit forecasts remain on track.
3. Timely reduction in US/Swiss tariffs boosts watch retailer
Watches of Switzerland LON:WOSG issued half year numbers today, noting group revenues up 8% with US sales delivering a notable impact here. The recent reduction in tariffs on Swiss exports to the US has helped and the note adds that sales in the early part of H2 are also performing well. Whilst mindful of broader macroeconomic challenges, the full year outlook has been reiterated.
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