Big losses for Pets at Home this morning after a pre-close trading statement flagged challenges with the underlying economy as being likely to drag on performance in the near term. Whilst the FY25 pre-tax profit numbers remain on track to meet previous guidance, rising costs and pressured consumers mean that the FY26 number is tipped to be around 10% lower, whilst there’s also a degree of uncertainty as to how the ongoing CMA inquiry into vets bills will map out. Management do expect to be able to outperform the market going forward as recent investments deliver, but the Pets at Home share price was down move that 14% in early trade.
The company announced this morning that the CEO of its Primark division had stepped down with immediate effect. The move follows an internal investigation into the behaviour of the former boss towards an employee in a social environment. There’s not much to add here but the abrupt departure and potential disruption whilst a replacement is found has spooked the market. The ABF share price was down 4% shortly after the open.
The luxury sportscar manufacturer struggled last week amidst concern that US tariffs could worsen the company’s financial position but there has been something to cheer as the new trading week gets underway. Significant shareholder the Yew Tree consortium has proposed increasing its holding to around 33%, buying shares at a 7% premium to Friday’s closing price. Aston Martin is also set to sell its stake in the F1 team of the same name and these two actions are expected to improve liquidity by around £125m. The Aston Martin share price had added more than 10% by 8.30am, reversing at least some of last week’s losses.
Most read news on Investegate this morning
Business update - - Wood Group (John) (WG.)
Primark leadership change - - Associated British Foods (ABF)
Southern Rukwa Mining Licence – Formal Acceptance - - Helium One Group Ltd (DI) (HE1)
