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. Discretionary consumer spend feels the pinch at JD Sports
JD Sports Fashion [LON:JD.] issued full year results this morning with the company noting organic sales up 2.1%, margins flat and operating profits down 5.8%. Management see that as a resilient performance against an uncertain consumer backdrop, and with that theme set to persist the company is widening its guidance for FY27, with profit before tax and adjusting items not seen as landing above this year’s figure.
A 20% increase in the dividend and the launch of a rolling share buyback might provide some solace but this perhaps underlines the stresses seen in the discretionary consumer sector moving forward.
2. IHG sees continued growth despite Middle East conflict
Q1 numbers from hotel group IHG [LON:IHG] saw moderate RevPAR – revenue per available room – growth across all key markets, growth in East Asia & Pacific was an impressive 11.5% and occupancy rates are 1.5% higher, too. Whilst the situation in the Middle East is weighing, this is being more than offset by growth in other geographies. The current $950m share buyback programme continues to progress on track.
3. Coca-Cola HBC posts revenue, market share gains in Q1
Coca-Cola HBC [LON:CCH] released its Q1 update this morning as well. Again the theme of growth continues here with an 11.6% increase in organic revenues and an expansion of market share, too. The acquisition of Coca-Cola Beverages Africa remains on track and despite the backdrop of uncertainty, full year guidance has been reiterated.
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In case you missed it
Today we start with Gold which has been rangebound since the start of the Middle East conflict. Fund Manager YH Wong looks at the fundamentals behind the precious metal – and what could happen once hostilities end.
