The owner of Premier Inn, Whitbread, this morning issued Q1 results and whilst growth was sluggish, the company continues to outperform sector peers. Critically the report also highlighted how short-notice leisure bookings in the UK were struggling, highlighting weakness in the broader economy when it comes to discretionary spending. However net inflation is expected to come in at the lower end of previously stated guidance as a result of increased cost efficiencies and investors have bid the stock up around 4% in early trade.




Another FTSE-100 company with numbers out this morning was industrial hire specialist Ashtead who updated on Q4 and the full year performance. Earnings were down and revenue guidance was also lowered with group income expected to rise by only 5%-8%. Critically the update contained no further comment on the idea that the company may move its listing to the US, something that may have also contributed to the sell-off. Shares were down almost 5% shortly after the open but recovered slightly in early trade.


Oxford Biodynamics


And down in the small cap end of the market, Oxford Biodynamics published half year results this morning. Revenues were around 50% higher year on year, but that only came in at £327k, whilst operating losses continued to mount. The company did conclude a fundraise earlier in the year despite difficult market conditions and notes sales are progressing well, but a step change in income needs to be seen. Shares were as much as 27% lower shortly after the open before recovering to sit down 19% at copy time.   


Headlines we expect on Wednesday


Young & Co Brewery Final Results

This time last year Revenue £369m, Net Debt £165m, Dividend 20.52p


Speedy Hire Final Results

This time last year Revenue £441m, Pre-tax profit £1.8m, Dividend 2.6p