Tony Cross
3 min read
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. Q1 update from Next beats own guidance – again
Next [LON:NXT] issued a trading update this morning that in a move that seems perpetually true to form, once again the company outperformed the previously offered guidance. Full price sales were up 6.2%, some £28m ahead of forecast, with the strong start to the year having been seen as instrumental in driving the success. That uptick added £8m to profits and full year guidance has been upgraded as a result, with EPS now forecast to add 6.5% for the full year.
2. ‘Spoons continues to outperform market but rising costs a cause for concern
Pub operator JD Wetherspoon [LON:JDW] issued a brief trading update this morning, with the company noting a 43rd consecutive month of outperformance, although growth for Q3 has come in slightly below the year-to-date reading, with total sales up 4.1% against 4.9% over the longer horizon. There’s little to get excited about beyond that however with the note adding that in line with many hospitality operators, substantial cost increases do mean that profits may land slightly lower than expected.
3. Full steam ahead at Trainline as Europe consumer division eyes breakeven
Full year numbers are out from Trainline [LON:TRN] this morning with net ticket sales up 7%, revenues some 2% higher and the operating profit 43% ahead. Increased carrier competition in the rail sector across Europe is seen as a key growth driver for the business and means that the international consumer division is set to reach break even for the first time. Forward guidance appears considered with no significant outperformance expected in FY27, although adjusted EBITDA as a percentage of net ticket sales is set for a 10 basis point improvement.
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