The manufacturer of a range of branded alcoholic drinks C&C Group issued a full year trading update this morning which served up a salutary reminder over the state of the consumer economy. Blaming budget uncertainty, the company saw a softer than expected through November and December, and whilst there was some respite over the Christmas peak, weakness has returned as 2026 gets underway. As a result, full year adjusted operating profits are expected to be in the EUR70-73m range, below the EUR77m reported a year ago. The C&C share price was down more than 10% shortly after the opening bell.
The luxury watch retailer had a good start to the week’s final session as the market responded to last night’s news that it had acquired an 88% interest in a business with four showrooms in the US. Further terms of the deal, beyond the fact WOSG has the option to purchase the remaining 12%, are lacking, but last year the business generated $67m in revenues. The Watches of Switzerland Group share price is up 4% in early trade.
The defence engineering specialists Babcock issued a Q3 trading update this morning with more good news on the company’s trajectory. Management are confident that full year targets will be met, whilst the outlook is likely to be improved if a recently inked deal with Indonesia can be booked this year. However, a second update advised that the CEO – who has been attributed wit turning around the company’s fortunes – is to retire by the end of 2026 and that appears to have rattled sentiment. Losses in early trade were exceeding 3% although as the morning session progressed the outlook was improving a little.
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