Despite record sales and a 17% increase in operating profits, the computer software reseller Bytes Technology saw its shares hit in early trade on Tuesday. Even the combination of improved dividend payments along with revenues and earnings slightly above forecasts failed to cheer the market although it’s worth noting that the shares had been trading at nine-month highs ahead of today’s update. The bottom line here appears to be one of at least some investors cashing out off the back of good news. The Bytes share price was down 5% in early trade.
The hardware store and interior design company Wickes published a trading update this morning which saw the stock finding support. In what was seen as a strong start to 2025, the company noted revenue growth at a group level of 6.9% with retail outperforming, but momentum on the design side being seen as building following some strategic changes. Management remain mindful of the challenging external environment but are confident that they can continue to deliver against their strategy. The Wickes share price was almost 7% higher just before 9am.
The pub and hotel operator Marston's also updated the market this morning with interim results. Whilst revenues were unchanged, a significant improvement in margin was posted, turning the £0.2m loss a year ago into a £19m profit. Net debt continues to fall and initiatives designed to improve efficiencies across the group appear to be paying off, too. The company remains on track to deliver against targets as laid out in the October 2024 capital markets day and the Marston's share price was more than 7% higher in the first hour of trade.
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