The soft furnishings chain Dunelm issued full year results this morning which had some impressive headlines given the difficult economic backdrop, but the news evidently left investors cold. Total sales rose by almost 4% and margins were 60 basis points higher but costs ticked up and debt grew, too. The estate continues to expand and management are confident that given the current momentum in a challenging climate, there’s cause for optimism in the medium term. Investors however didn’t seem so sure with the Dunelm share price trading around 4% lower by 8.30am.
Half year numbers from the FTSE-250 listed communications services provider Gamma were published today. Revenues added 12%, gross profits were 18% higher and shareholders are set to receive a 14% uptick in the half year dividend. Adjusted EPS guidance for the full year has been upped with recent acquisitions also noted as performing well. The cash position has left management eyeing further acquisition opportunities and the Gamma share price was 10% higher shortly after the open.
Transport operator and owner of the National Express marque Mobico issued interim results this morning. Whilst there were highlights here including 7% revenue growth and the full year outlook remaining on track, H1 performance was impacted by the underperformance of two UK contracts. The note also highlighted the potential for simplification within the group which would improve financial and operational performance but despite this the Mobico share price was some 24% lower in early trade.
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