The provider of self-serve machinery range for photo booths to laundry machines issued a trading update this morning. Management noted that there had been a softening of market demand in April, with fragile consumer confidence in light of the Middle East conflict being seen as the driver. That’s resulted in a material downgrade in the full year profit outlook, which is now forecast to come in between 69m and £74m against the £78.2m posted for FY25. The ME Group share price was down 25% in early trade.
News broke after the close on Friday night that a Private Equity house was circling the low cost airline easyJet. Airline stocks are depressed right now with the rising cost of fuel and that appears to be a catalyst behind the bid. Management are appealing to investors to do nothing, this is a very early stage move from the suitor Castlelake, and the board reiterated that they believed their plan would deliver in the longer term. Just a spell of turbulence to ride out – the offer window is however now open and the easyJet share price rose 10% shortly after the open.
FTSE-250 listed sports supplement company Applied Nutrition issued an update to the market this morning upgrading full year revenue expectations, advising of a new acquisition and also a collaboration with Mondelez for the production of co-branded products. Demand across the company’s markets is noted as remaining strong and the Applied Nutrition share price was up as much as 15% at the open before handing back some of that upside.
Most read news on Investegate this morning
Response to Possible Offer for easyJet - - easyJet (EZJ) (plus two further EZJ notes)
Offer for Bluefield Solar Income Fund Limited - - Drax Group (DRX)
