A trading statement from marketing merchandise company 4imprint was published this morning, noting that a resilient performance had been delivered over the first 10 months of the year. FY revenues are now expected to land at the upper end of forecasts, whilst pre-tax profits will be above the previously guided range. Margins have also been maintained, thanks to price increases landing later than had been expected, which has been sufficient to push the 4imprint share price up 15% in early trade.
Significant losses on the share price for the packaged food company Hilton this morning in the wake of a trading statement. Caution over the outlook for next year, along with comments over food price inflation plus ongoing operational issues served to rattle sentiment. The note added that an ongoing business review had identified further clear opportunities for growth optimisation – the business recently disposed of its Fairfax Meadow division and there’s seemingly more to follow here – but this news did little to placate investors. The Hilton Food Group share price was down 23% shortly after the open.
The multinational telecoms firm Vodafone issued half year numbers this morning, which included key news about the company’s dividend and a new share buyback programme. This was increased for the first time in 7 years after a new progressive capital returns model was announced, whilst growth in Africa also means the company expects to achieve the upper end of profit and cashflow forecasts. Investors were quick to applaud the news which is seen as proof that the turnaround plan of the last few years has been executed successfully. The Vodafone share price was up more than 6% by 8.30am.
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