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