MedTech business Convatec issued a trading update for the first 10 months of the year today, noting that they are on track to deliver against FY targets, with double digit EPS growth and further margin expansion also expected in FY27. New product launches were seen as offsetting market headwinds, underlining the resilience of the business. The Convatec share price was 6% higher shortly after the open.
Investment company 3i issued half year results this morning noting a strong performance, highlighting a 13% return on opening shareholder funds and declaring a 36.5p dividend, up almost 20% on the comparative. The company’s private equity portfolio has maintained good momentum too, but the macroeconomic backdrop is making further funding decisions difficult, there’s a definite risk-off air to the outlook and it seems that the tone of the note may have been too cautious for many investors. The 3i share price was down 10% in early trade.
The Eastern European low cost airline issued half year results this morning with passenger numbers up almost 10%, total revenues up 9% and operating profits more than 25% higher. The numbers reflect the positive impact of greater capacity, with the market seemingly quick to welcome the news that the airline is in the process of focusing on lower cost hubs, shuttering Abu Dhabi and Vienna operations. The Wizz Air share price was up 11% in the first half hour of trade.
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Trading Update - - Rolls-Royce Holdings (RR.)
