The operator of franchise food and shopping outlets at global transport hubs this morning published a third quarter trading update, noting a strong period of growth and reiterating expectations for the full year. Thanks to acquisitions, sales in the USA, APAC and EEME (Eastern Europe & the Middle East) were bolstered whilst less transport disruption combined with continued growth in passenger numbers also played to the company’s advantage. Underlying full year operating profits are set to be in the £210-£235m range and shares were trading almost 12% higher an hour into the day.
Homebuilder Barratt issued a full year trading update this morning, noting a fall in completions over the last year and adding that a recovery in this metric wouldn’t be seen until FY26. Adjusted pre-tax profits are expected to be slightly ahead of previous forecasts but even with this upbeat angle, shares still sold off this morning. Just over an hour into the day, the stock was trading around 2.5% lower.
Leading low-cost gym operator The Gym Group issued a pre-close trading update this morning, noting a 12% increase in revenues for the first half of the year. Average revenue per member was up 9%, expansion plans are continuing apace and debt is being paid down. Given the macroeconomic backdrop, this could be one to watch and today’s gains – up 6% in early trade – have been sufficient to push shares to fresh highs for the year.
Headlines we expect on Thursday
Jet2 Final Results
This time last year Revenue £5.03bn, Operating profit £394m, Final dividend 8p
MJ Gleeson Full Year Trading Update
This time last year Completions 1723, Average selling price £186,200
