The online reviewing platform Trustpilot saw its shares jump this morning following the publication of a full year trading update. Management reported a strong set of numbers with bookings up 21% on a constant currency basis and adjusted EBITDA is expected to be ahead of consensus. As more customers read and write online reviews, Trustpilot is leveraging this growth with new customer acquisition remaining upbeat. The Trustpilot share price was up 12% by 9am.
A half year trading update from Dunelm left the market underwhelmed this morning despite a modest uptick in revenues, margin growth and more digital sales being recorded. Pre tax profits for the full year are still expected to be within the projected range even given the impact of inflationary pressures, however this - combined with the worsening macroeconomic backdrop – is clearly giving some investors cause for concern. The Dunelm share price was down as much as 5% shortly after the open although did manage to recover some of those losses in early trade.
The FTSE-250 listed fresh food supplier Bakkavor published a full year trading update this morning. With strong revenue growth being recorded both off the back of increased sales as well as price recovery and margin improvement, expectations are that full year profits will be at the upper end of the previously guided range at a minimum. A 6% margin target is also still seen as achievable in the medium term with the impact of recent UK wage increases – some £15m – being already accounted for. The Bakkavor share price is up more than 6% in the first hour of Thursday’s session.
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Trading Statement - - Taylor Wimpey (TW.)
