The brewery and distilling group Diageo published a Q3 trading statement this morning which appears to have been well received by the market. The company reported net sales up by almost 3%, adding that the improvement here should be sustained through the second half and also laid out plans for delivering accelerated cash returns, targeting $3bn by FY26. The note also highlights the forecast impact of US tariffs, with management adding that they are well experienced when it comes to navigating such levies globally. The impact is forecast to be $150m a year, with mitigations covering around half of that. The Diageo share price was almost 3% higher shortly after the open.
The AIM listed mineral exploration and development company issued a note this morning rebutting media speculation that exports had been blocked at their flagship lithium project in Southern Mali. This project is continuing as planned and relations with the government remain positive. The impact has been that the Kodal share price jumped as much as 8% in early trade, although some of those gains are already looking vulnerable.
The FTSE-250 listed IT services company published full year results this morning. A challenging start to the year saw management revise expectations lower and today’s update delivered here, but the material contract on many of the headlines, including revenues down 4%, pre-tax profits down 25% and EPS down 27% appeared to dominate. There were some signals to be optimistic about including a 20% increase in recurring revenues whilst the improved cash position saw a 4% jump in dividend and a further £30m share buyback being launched but the initial market reaction was to push the Kainos share price down by as much as 4%.
Most read news on Investegate this morning
Statement re Possible Combination - - Assura (AGR)
Diageo issues fiscal 25 Q3 trading statement - - Diageo (DGE)
Further Results from the Flow Testing of Megrez-1 - - Pantheon Resources (PANR)
