Discount footwear retailer Shoe Zone has seen its shares take another kicking this morning following the publication of interim results. Revenues for the first half are down 12%, more than doubling the pre-tax loss for the period, but the full year outlook remains as stated a couple of weeks ago in the trading update. Additional detail is lacking but Shore Zone shares were trading around 3% lower at the open.
The outsourced catering company Compass issued half year results this morning which painted an upbeat picture and allowed management to revise full year guidance higher. Client retention stood at 96%, organic revenues added 7.2% and new business wins were up 14% from a year ago. That all combined to make for a strong first half performance, with investors seeing a 13% rise in the interim dividend. The Compass share price was up 3% in early trade.
Fast fashion retailer ASOS offered investors a boost this morning with news that the company had sold its Litchfield distribution centre to M&S. The deal is worth £66m and will present annual cost savings of £6m. After adjustments this will deliver an estimated £85m pre tax profit and is expected to complete before the end of FY26. Proceeds will be used to ‘maintain financial flexibility’ and the ASOS share price was up more than 10% shortly after the open.
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