A pre-close trading update from the fast fashion play ASOS was released this morning, with management noting a significant improvement in underlying profitability, evidently bolstered by selling less at a higher margin. Expectations for FY26 have been reiterated with further gross margin improvement of at least 100bps forecast and that’s giving investors something to cheer. In early trade, the ASOS share price was up more than 15%.
The housebuilder Crest Nicholson published a trading statement ahead of today’s AGM, noting that the group has seen a sustained improvement in sales rates over the last two months and full year expectations remain unchanged. The note adds that the company’s pivot from being a volume housebuilder to one focused on mid-premium is progressing well, whilst efficiency drives are also yielding results. The Crest Nicholson share price was up 12% shortly after the open.
Critical data and power specialists Volex also issued a trading update on Wednesday morning, with the £800m AIM-listed company noting that continued strong trading was upgrading expectations for the full year. The success is largely attributed to the high demand for high-speed data transmission products and full year data centre revenues are expected to be twice the $118m achieved a year ago, whilst margins are also running above top-end estimates. The company is also considering a migration onto the main board of the LSE and the combined strength of these messages mean the Volex share price was up 12% by 8.45am.
Most read news on Investegate this morning
Director/PDMR Shareholding - - Getbusy (GETB)
Result of Fundraise - - Cobra Resources (COBR)
Agreement with Ritchie Exploration - - Mendell Helium plc (MDH)
