It was a slightly unsteady start for student accommodation provider Unite Group this morning with the market attempting to price in the latest earnings release. A Q2 trading update highlighted lower levels of forward bookings and rent increases compared with a year ago, but management added that full year expectations remained on track. On top of this, independent valuations of the two property portfolios had both recorded modest increases. Shortly after the open however and the Unite share price was down by almost 1%.
The insolvency specialists Begbies Traynor published final results today with the double digit growth in revenue and EBITDA presumably being another wake up call over the state of too many UK businesses in 2025. The vast majority of revenue growth was organic and management are proposing both an 8% increase in dividends along with a further share buyback. The positive trading momentum is expected to continue, with profits in line with expectations and revenues coming in at the upper end of forecasts, helping the business offset rising costs. The Begbies Traynor share price was up more than 5% in early trade.
A Q3 update from the high performance polymer solutions company Victrex rattled confidence this morning as rising sales volumes were more than offset by weaker pricing, along with management noting concerns over the outlook. They are targeting H2 pre-tax profits as being slightly improved on H1 but if the price/volume mix is sustained then that could well prove to be too ambitious. The Victrex share price was down more than 8% by 8.30am.
Most read news on Investegate this morning
Directorate change: CEO succession - - Victrex plc (VCT)
Final Results - - Begbies Traynor Group (BEG)
Final Results, Analyst Briefing & Investor Pres - - Solid State (SOLI)
