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. Greggs on a roll as value proposition keeps ringing true
The prolific food-to-go chain Greggs [LON:GRG] issued an update this morning covering the first 19 weeks of the year. Total sales rose 7.5% to hit £800m and good progress is expected in terms of profitability for the first half following the launch of a new distribution centre in Derby. The uptick in revenue comes despite the well reported challenging economic climate and cost inflation remains as expected, although the company – like the wider sector – is bracing for pressures here towards the end of the year and into 2027.
2. Imperial Brands posts revenue growth but is macro backdrop a cause for concern?
Interims from Imperial Brands [LON:IMB] were released this morning with the company noting revenue growth in both legacy and next gen products, adding that the full year guidance remained on track. Whilst management acknowledge the risk posed by the Middle East, they add that this isn’t impacting projections although the combined impact of price momentum, broader inflation and squeezed consumers could arguably stress the company going forward. The interim dividend is up 4%.
3. Three year transformation plan at Vodafone yielding results
Full year numbers from Vodafone [LON:VOD] are out this morning with the company noting that the three year transformation plan to make a simpler proposition has now been completed, accounting for changing customer demands. The operating loss reported a year ago has been flipped to a healthy profit, revenues are up 8% and EBITDAaL came in at EUR11.6bn, the top end of guidance. Can the efficiency gains now be maintained and scaled?
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