Pub operator Marston’s issued a trading update for the 17 weeks to 24th January this morning. Despite the news being generally upbeat with continued growth and outperformance in evidence, along with a record-breaking performance being set on Christmas Day, the market failed to warm to the news. Full year guidance was also reiterated, but at least some investors were ready to call time on the stock and book profits as it flirted with levels not seen in almost four years. Shortly after the open the Marston’s share price was down more than 13%.
The “Vets and Pets” group Pets at Home issued a Q3 trading statement this morning. Whilst retail sales were down, the company noted a 5% uplift in revenues from the Vets side of the business, with subscription revenues remaining strong, too. The full year outlook remains on track with consensus estimates too and the Pets at Home share price was up more than 3% in early trade.
Transport provider Mobico, previously known as National Express Group, issued an update to the market this morning confirming media speculation that the company was in the advanced stages of agreeing terms with five German public transport authorities. Successfully concluding this process would be expected to deliver a sustainable business going forward. The Mobico share price was 10% higher in early trade.
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