Gains for the housebuilder Bellway were seen this morning after publishing full year results. Headline figures made for difficult reading reflecting underlying macroeconomic challenges whilst the lack of clarity regarding the forthcoming budget is also seen as challenging. However there’s optimism that the outlook may now be improving so despite a hefty reduction in the dividend, the shares were trading almost 7% higher just over an hour into the day.
The FTSE-250 listed manufacturer of customised electronics issued a trading update for the first half of the year. These numbers reiterated guidance that the company was still on track for the full year and whilst destocking by some clients was still challenging, this is now happening at a lesser rate. The note added that with an excellent pipeline of design wins and acquisition opportunities supported by high cashflow, the Group is well positioned to build on its strong through-cycle growth record and deliver on its strategic objectives as market conditions stabilise. The Discoverie share price was almost 6% higher in early trade.
Interims from the software, security and AI services specialist received a muted reaction from investors. The numbers were something of a mixed bag with strong demand from new and existing clients alike paving the way for higher dividends but a decline in hardware sales took a toll on revenues. The Bytes Technology share price was 5% lower in early trade.
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Victoria Half year trading update
