The FTSE-250 listed manufacturer of electrical components DiscoverIE issued full year numbers this morning which presented something of a mixed bag. Global challenges with destocking by clients took a toll on revenues, but meaningful margin improvement helped the company boost profitability. Pre-tax profits added 44% whilst management also note the benefits of falling interest rates and add that there’s a strong pipeline of acquisition activity, too. The DiscoverIE share price was up almost 10% in early trade.
A trading update from WH Smiths covering the 13 weeks to 31st may was published this morning noting continued growth in its travel market. Global revenues were 7% higher on a constant currency basis and 5% up on a like for like basis, with even stronger expansion being noted in the rest of world region as passenger numbers continue to recover. The full year outlook remains unchanged and the WH Share price was trading around 1.5% higher approaching 9am.
The AIM listed provider of data and technology for sports and fitness this morning published an update advising the market it was seeking shareholder approvals to cancel its market listing. Citing the usual issues of low liquidity and limited free float, it’s the company’s intention to migrate to a private market venue, offering transactional capability on a matched bargain basis. The 4Global share price was trading down 45% shortly after the open.
FY25 Preliminary Results - - B&M European Value Retail S.A. (DI) (BME)
Avacta Change in Prelim Date Part 2 - - Avacta Group (AVCT)
CEO announces intention to retire in 2026 - - Hammerson (HMSO)
