The food processing and retail company which also owns fashion chain Primark issued a trading update this morning that appeared to be somewhat lacking in festive cheer. Volatility in the food business caused by ongoing consumer weakness hampered sales, whilst discounting at Primark also took a toll. The summation here is that group adjusted operating profits will come in below the level seen last year and investors have been quick to mark down the stock. The Associated British Foods share price was trading down 11% shortly after the open.
Keeping with the retail theme and grocer Tesco also published its Christmas trading update. Despite strong sales, growth in market share and tightening guidance on the upside, the stock still suffered on Thursday morning. Free cashflow guidance was unchanged, suggesting operating expenses are maybe running higher than had been forecast and the Tesco share price was down almost 5% in early trade.
The technology services provider announced this morning that it would acquire AgreeYa Solutions for $120m. The business is focused on providing enterprise level solutions for US customers. The move helps accelerate Computacenter’s growth I North American as well as providing valuable exposure into the Indian market. The Computacenter share price was almost 5% higher by 8.45am.
Most read news on Investegate this morning
Tesco PLC Q3 & Christmas Trading Statement 2025/26 - - Tesco (TSCO)
