TUI, Frasers, Kingfisher, Moonpig: Morning Roundup

Tuesday brings the latest news from London-listed stocks, including TUI, Frasers, Kingfisher, and Moonpig.

TUI Group

  • TUI announced the following trading update, with Q4 expected to deliver further stronger progress.
  • Its summer 2022 program totaled 12.9 million bookings, an increase of 1.4 million since its Q3 update. Bookings were also at 91% of summer 2019 levels.
  • The company reaffirmed its guidance to return to significant positive underlying EBIT in 2022.
  • TUI shares increased 2.34% on Tuesday.

Frasers Group

  • Frasers Group reported that Mike Ashley will not be standing for re-election as a Director at this year’s annual general meeting.
  • He will therefore be stepping down from the board on 19 October 2022.
  • Mike Ashley will continue his support for the business, providing £100 million of additional funding.

Kingfisher

  • Kingfisher reported its half-year results on Tuesday.
  • H1 performance was in line with expectations, and sales were significantly ahead of pre-pandemic levels.
  • The company reported a gross profit of £2.5 billion, down 7.4% from the previous year.

Moonpig

  • Moonpig has provided an update, sending its shares plummeting 11%.
  • Overall trading performance was in line with expectations. As a result, they reiterated guidance for the full financial year.
  • The company expects between 58% and 60% of revenue to arise in the second half of the year.

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