The retailer behind the B&Q and Screwfix brands in the UK, with other similar operations across Europe, this morning published a Q1 trading update. Despite showing market outperformance across the board and some modest revenue growth in the UK, management also cautioned that consumer sentiment remained mixed. Full year guidance was reiterated, but investors have been marking down the stock. In early trade, the Kingfisher share price was down almost 3% although losses were quickly pared back.
Gains for the IT infrastructure company Softcat this morning after their Q3 trading update saw a modest improvement in forecasts for full year operating profits as a result of an increased number of larger deals being completed. The revision was from low single digit growth to low-teens, so potentially as little as a 1% move higher, but this was still sufficient to bolster confidence. The Softcat share price had gained more than 3% shortly after the open.
AIM listed liquid biopsy company ANGLE issued full year results this morning which noted revenues up 31% whilst operating costs fell 27%, with the consequence that losses have contracted significantly. Management note that demand for ANGLE's best-in-class liquid biopsy solutions from prospective customers is growing and that deals with large scale pharmas are progressing well, however the cash burn rate, market turbulence and reductions in research funding all pose question marks. The ANGLE share price was down almost 20% in early trade.
Most read news on Investegate this morning
FY25 Preliminary Results - - Pets at Home Group (PETS)
