It was a positive start to the session for the low cost microcomputer manufacturer Raspberry Pi after publication of full year results. Despite a rapid expansion in product lines, sales were down but cash has been conserved and the market is clearly encouraged when it comes to the longer term outlook. The positive response is even more significant given the weaker consumer backdrop but the Raspberry Pi share price was trading up more than 7% just after the bell.
The FTSE-250 listed food manufacturing company Bakkavor saw its shares advance after news that the planned acquisition by rival Greencore had taken another step forward. Greencore’s management announced this morning that the two sides had reached agreement in principal for the terms of valuations and that Bakkavor would now recommend the deal to shareholders. The Bakkavor share price was almost 9% higher in early trade.
An interim trading update from Topps Tiles was published this morning and despite some positive indicators in there of sales momentum having been building during the first half of the year and margins improving following a pricing review, the market failed to warm to the news. Macroeconomic woes continue to hang over the company and there’s also the fact that rising labour costs in the UK will also knock an annualised £4m hole in profits from the start of the new tax year. Shares in Topps Tiles were trading around 4% lower at 8.30am.
Most read news on Investegate this morning
Statement re Possible Offer - - Greencore Group (CDI) (GNC)
FY 2024 Final Results - - Raspberry PI Holdings (WI) (RPI)
Report on Payments to Governments for 2024 - - Gulf Keystone Petroleum Ltd Com Shs (DI) (GKP)
