The FTSE-250 listed bill payments company Paypoint provided an update this morning noting that International Distribution Services – the owner of Royal Mail – had acquired 49% of the company’s Collect+ product for £44m. This partnership is seen as critical to the next phase in the product’s growth, and will see more Royal Mail services being provided by the Paypoint partner network. The Paypoint share price was up 8% in early trade.
A full year trading update from the fast fashion retailer Asos was published this morning, noting improved profitability per transaction but this was countered by a challenging consumer backdrop weighing on revenues. The company is on a cost cutting initiative, the adjusted EBITDA was up 60% YoY and the headline outlook for 2026 remains on track, but many investors have been looking to exit positions with the Asos share price down more than 8% by 9am.
Half year results from the gift and greeting card retailer card Factory were issued this morning, with revenues up 5.9%, whilst free cash flow was also improved. However some investment decisions were accelerated and this has served to impact profitability. There’s optimism over the second half which covers the peak Christmas trading season despite broader economic headwinds, and expectations are for full year pre-tax profits to be in line. The Card Factory share price was however down almost 5% shortly after the open.
Most read news on Investegate this morning
Acquisition of UK North Sea asset portfolio - - Serica Energy (SQZ)
Full Year Trading Update - - ASOS (ASC)
Exploration expansion with £4 million raise, TVR - - Wishbone Gold (DI) (WSBN)
