Shares in the FTSE-250 listed online review website Trustpilot plummeted today in early trade following news of a placing. That was off the back of a major shareholder electing to sell down at 5.6% stake in the company via an accelerated bookbuild. Shares were sold at 214p, reflecting today’s move. The Trustpilot share price was down 11% shortly after the open.
A full year trading update from the software services company Bytes Technology was issued this morning. Performance was in line with the projected outlook although looking ahead, the impact of higher technology costs means operating profits are expected to be flat for FY27. Despite the underlying economic uncertainty, customers are proving willing to adopt new technologies and products but investors appear underwhelmed with the Bytes share price down 11% in early trade, testing fresh all time lows as a result.
The FTSE100 listed operator of DIY stores across Europe including B&Q here in the UK published full year results today. Underlying sales growth was tepid, up by just 1.4%, but market share gains were recorded. Profits were also boosted by gross margin expansion of 80bps with the group’s buying power being seen as a key driver here. Management announced the approval of a further £300m share buyback despite the mixed consumer environment, making for a strong start to the day but the Kingfisher share price soon handed back some of those gains to sit around 2% higher by 8.40am.
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