Strong gains for the hotel operator Whitbread this morning following the publication of third quarter results. The UK continued to post signs of modest growth, whilst German operations were surging with revenues up 12% in local currency terms. Most impressive however was the dramatic downward revision in the charges the company expects to incur from the most recent UK budget, with these now expected to be as much as £15m lower, whilst forecast cost efficiencies are being upped by £10m for FY26. The Whitbread share price was more than 4% higher in early trade.
The internet reviews service Trustpilot published a full year trading update this morning. The stock did struggle in December following criticism of the business but those losses have now been reversed with the company reporting a strong performance and bookings expected to be up 22% YoY. Revenues grew by a similar amount, with the note adding that growth accelerated in the second half of the year. The share buyback was extended by a further £10m and the Trustpilot share price was up 7% shortly after the open.
A year-end trading update from Raspberry Pi provided a year end trading update this morning, confirming that it now expects full year adjusted EBITDA to be ahead of market expectations. However management also caution that chip supply for many of the company’s products is struggling as manufacturers pivot towards other customers, resulting in visibility for H2 FY26 and beyond being somewhat difficult to establish. Full year results will be released at the end of March but the Raspberry Pi share price was down 9% by 8.45am.
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Half-Yearly Report - - Games Workshop Group (GAW)
