Losses for Legal & General this morning despite news that the company had posted strong core operating profit growth at the half year point and was delivering synergies across the business. The company remains on track to deliver against commitments to return capital to shareholders too, but were investors expecting more? A weaker dollar did take something of a toll, although management remain upbeat over the outlook. The Legal & General share price was down 3% shortly after the open.
Despite some strong revenue growth seen largely off the back of price increases as opposed to volume increases, consumer packaged goods company Coca Cola HBC saw its stock hammered in early trade. The strong first half performance also saw management pointing full year guidance higher, with this now expected to land at the upper end of previously stated ranges both in revenue and EBIT growth. Emerging markets are winning out and whilst there are some currency headwinds in play, are investors focusing on the unpredictable macroeconomic backdrop? The Coca Cola HBC share price was off more than 7% in early trade.
A modest bump for THG this morning as the consumer brands group THG announced it had disposed of Claremont Ingredients for £103m, following the acquisition of the division for £52m just five years ago. Proceeds will be used to reduce leverage and borrowing costs as the company pursues its target of a neutral net cash position. The THG share price had jumped more than 5% by 8.30am.
Most read news on Investegate this morning
L&G Half Year Results 2025 - - Legal & General Group (LGEN)
Disposal, H1 trading and Nutrition update - - THG (THG)
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