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. New £500m share buyback at Reckitt
Consumer goods company Reckitt Benckiser [LON:RKT] issued half year numbers this morning. Thet company’s turn around strategy appears to be on track with solid growth being reported in emerging markets and whilst margins have been squeezed, these continue to run ahead of expectations. The interim dividend is up 5% and a new share buyback of up to £500m over the next twelve months has also been announced. The full year outlook is unchanged.
2. On a roll – revenue, profits and market share up at Greggs
Bakers to fast food retailer Greggs [LON:GRG] has issued interim numbers this morning with sales up 7% and operating profits adding 23%. Whilst that’s against what the note terms a soft comparative, strong cost control was also in play. The estate now stands at 2,773 shops with management noting scope for at least 3,500, whilst other franchise channels are also pursued. The company also continues to grow market share and notes the full year outlook as unchanged.
3. Sage sees revenues advance with N America leading the charge
A nine-month trading update from Sage Group [LON:SGE] was out this morning with revenue growth accelerating, up 11% at a group level. Expansion was notably strong in North America which continued to outperform with the company’s continued expansion of AI capabilities lending further support. Full year revenues are expected to be at least 9% higher, with management focused both on efficiency and scaling the group.
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