The vet care and pet retailer Pets at Home published interim results this morning. This showed a modest dip in revenues but a significant decline in profits which fell by almost 30%. Tighter margins and reduced discretionary spend combined to make something of a perfect storm for the company. The diversification between animal healthcare and retail does however provide a useful buffer, the dividend is being maintained and a turn around plan to refocus on retail has also launched. With no further downgrades to the full year outlook, investors have found confidence and the Pets at Home share price is up around 4% in early trade.
The tool and equipment rental company Speedy Hire issued half year results earlier today. These showed a modest uptick in revenue but sharp losses also presented themselves as management battled against rising wage costs and a softer market. However with a new commercial deal now in place with ProServe, this is set to deliver £50m in annual revenues and be earnings accretive, too. That’s bolstering the board’s confidence for the FY26 outlook and beyond, sentiments which appear to have been shared by the market. The Speedy Hire share price is 3% higher shortly after the open.
The most read article on Investegate this morning is news of boardroom succession at Judges Scientific, the developer of scientific instruments. The current CEO is to become a non-exec director from early next year, whilst the incumbent Group Business Development Director is elevated to the vacated CEO spot. Markets seen encouraged by the news, although it would be fair to say the enthusiasm stops short of the prolific category. The Judges Scientific share price was as much as 2% higher in early trade before giving back some of the upside.
Most read news on Investegate this morning
Board Succession - - Judges Scientific (JDG)
Project Phoenix - 2026 Production Test Program - - 88 Energy Limited (DI) (88E)
