The AIM-listed food wholesaler Kitwave published interim results today, showing that revenues were higher following acquisitions and margin improvement had also been recorded. However, on a less positive note for investors, management highlighted faltering consumer sentiment whilst adding that previous expectations of being able to absorb the increase in National Insurance costs were no longer applicable. The rampant profit growth that had been expected for the full year has been dialled back and the Kitwave share price had fallen almost 24% in the first few minutes of trade.
The grocery giant issued a Q1 trading update this morning, noting revenues rising across the board and market share reaching a 10 year high. Full year guidance has been reiterated, with profit deliver expected to be more weighted into the second half that was seen in 2024. The Sainsburys share price has advanced by a little over 2% in early trade, making it the best performer on the FTSE-100.
The high speed packaging and automation solutions company Mpac issued a trading update this morning, noting H1 revenues as being in line with management expectations but adding that order intake had slowed materially through Q2. Uncertainty surrounding US trade tariffs is seen as being behind the shift in sentiment and that has triggered a number of moves in order to try and trim costs, but support is clearly lacking. By 8.30am the Mpac share price was around 23% lower.
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