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. Revenues ramp up at Raspberry Pi
Interim results are out from micro-computer manufacturer Raspberry Pi [LON:RPI] this morning, with the company posting some eye catching growth. Revenues added 90%, gross profits were 79% higher and the volume of units shipped rose by 17%. Five new product releases have been seen and management note that the company has sufficient inventory to meet FY26 production goals. A growing customer backlog means that volumes shipped in H2 are set to be higher still.
2. Despite consumer woes, AO World sees continued growth
Electrical retailer AO World LON:AO. issued a trading state met ahead of the AGM and the release of half year results. The group expects to see H1 revenues add more than 5% whilst pre-tax profits are tipped to grow by more than 20%. Operational improvement in the mobile and MusicMagpie lines are seen as key drivers here, whilst management expect the momentum to be sustained. The filing notes the company’s strong cash position and management also announced today that they had completed the acquisition of photography retailer Jessops, further expanding the AO empire.
3. Vistry guides FY profit lower as strategic overhaul announced
The housebuilder Vistry LON:VTY has had a challenging time of late, so there’s a defensive tone to today’s half year update. The new CEO who arrived in April notes that an extensive review of the business has now completed and actions are now in place to ensure better positioning for future growth. That includes repositioning the business to deliver consistent growth and attractive returns. However that means developing a smaller business with increased geographic focus, moving away from the South East of England. The order book has been refined so now totals £3.3bn vs £3.7bn a year ago although full year profits are now guided some £40m lower.
In case you missed it
We start with Renishaw, where a record year and accelerating semiconductor demand suggest the company is beginning to see the payoff from years of investment.
Saba Capital has continued to make waves in the UK investment trust sector. In this report, we take a look at how its activist strategy has developed and why other investors are now taking a closer interest in their approach.
The UK healthcare sector is in the spotlight next, where we’ve applied our stock screens to identify five shares to watch as we head into Q4. Sign up for your free trial to Plus+ for insight on all five stocks.
In the corporate bond market, SoftBank has launched more than $11bn of senior unsecured notes, comprising $10bn of dollar bonds and €1bn of euro debt. With the financing linked to its investment in OpenAI, it raises questions about how the company is funding its continued AI ambitions.
Look out for updates today from BioPharma Credit, CVS, Halma, On The Beach, Raspberry Pi and Vistry.
The AIM All Share had a quiet session yesterday, closing two points lower on the day at 793.93. Ahead of today’s key Trump-Xi summit, the temptation to sit on hands is probably alluring.
- Ethernity +18%
- Southern Energy +17%
- Potentially AI +10%
- Mothercare -35%
- Orosur -17%
This article does not constitute investment advice. Do your own research or consult a professional advisor.
