Full year numbers from the currency transfer business Wise were published today which noted a 23% increase in cross border transactions, a 21% increase in the number of customers served and a 16% uptick in underlying income. Reported pre-tax profits added 17% whilst the company also advised that it was to move its primary listing from London to the US. Medium term guidance has been reiterated and the Wise share price was trading 7% higher shortly after the open.
The Eastern European low-cost airline published full year results this morning which clearly rattled the market. Despite a large part of the fleet having been grounded, passenger figures, revenues and load factors all ticked higher but profitability has been hit, with the net figure falling by 41%. However, a number of issues remain and whilst the fleet groundings owing to engine problems are now see as past their peak, geopolitical issues have contributed to the company not offering any forward guidance and this seems to have left some investors uneasy. The Wizz Air share price is down 25% in early trade.
The iconic footwear manufacturer Dr Martens has this morning issued full year numbers which show delivery against all FY25 objectives and have management eyeing a return to profitability in FY26. The direct to consumer channel in the US market has returned to growth and whilst group revenues are lower, this is within the previously guided range. Discounting is expected to reduce further in the year ahead and pre-tax profits remain in line with market forecasts pointing to a significant increase in adjusted pre-tax profits, although the note acknowledges that macroeconomic and tariff uncertainty could influence the outcome here. Approaching 9am and the Dr Martens share price was up 16%.
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