A bumper start to Wednesday’s session for Diploma after the supplier of technical products and services issued a pointed update to the market. Running under the headline “Significant upgrade to FY26 guidance”, organic net revenue growth is now set to be 9% against previous expectations of 6%, operating margins are improved by 250 basis points and that should deliver a 13% uptick in consensus operating profits. That’s off the back of a bumper first half performance and expectations that the momentum can be sustained in H2. The Diploma share price was 17% higher in early trade, adding around £1bn to the market cap.
Full year numbers were issued by Ithaca Energy this morning with management heralding a strong performance by the business although markets appeared less inclined to agree. Adjusted EBITDA was almost 50% higher following a commensurate increase in production but the $153m profit posted a year ago has morphed into a $84m loss off the back of UK government levies and momentum does appear to be stalling in terms of the outlook. Production is set to flat line next year, and the Ithaca share price is down more than 5% shortly after the open.
The online store for personalised gifts and greetings cards issued a trading update today. Performance has been line with expectations, but adjusted EPS is now set to land at the upper end of the previously guided range whilst cash generation is also set to remain strong. As a result, the company has announced that once the current £60m share buyback completes, a further £65m round will be launched. The Moonpig share price was almost 8% higher by 8.45am.
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