Coca Cola Europacific Partners
The packaged goods company CCEP this morning published Q3 results, noting volumes at a group level up by 0.4% but revenues had risen by 2.7% against a macroeconomic backdrop of weakening consumer demand. Forward guidance is broadly unchanged from what was posted with the interims, but it’s worth noting that the cost of sales has been upped slightly. This isn’t seen as impacting and the market appears nonplussed. The Coca Cola Europacific share price was up around 2% shortly after the open.
Interim results from transport booking site Trainline were issued today and showed a strong performance for the business despite the recent cut in commissions payable in the UK. Ticket sales rose 8%, revenues added 2% and management have upgraded profitability expectations for the full year. EBITDA is now set to grow by between 10% and 13%, up from the previous guidance of 6% to 9%. The Trainline share price was trading 10% higher just before 9am.
Pub operator JD Wetherspoon issued a trading update for the 14 weeks to 2nd November this morning, with group revenues up and the trend of market outperformance continuing. However management set a more cautious tone for the full year, citing concerns over what may be contained in the budget at the end of the month. The JD Wetherspoon share price initially fell by around 3.5% before recovering some of those losses in early trade.
Most read news on Investegate this morning
Half-year Financial Report - - Marks & Spencer Group (MKS)
Weichai signs manufacturing licence for SOFC power - - Ceres Power Holdings (CWR)
