Thursday morning sees stocks fairly mixed, as investors digest recent US inflation data as well as a weaker UK data such as GDP and manufacturing production contracting in May.

As for stocks, Watches of Switzerland reported record results in its FY23 results, The Gym Group saw positive trends in its pre-close trading update, and Experian showcased resilient Q1 results.

Watches of Switzerland

• WOSG reported record revenue and profitability in its FY23 earnings.
• The group reported revenue of £1.5bn, up 25% YoY.
• Meanwhile, statutory profit before tax grew 23% to 155m.
• WOSG stated that despite macroeconomic sentiment, FY24 guidance remains unchange, with revenue anticipated to grow 8-11% at a constant currency.

The Gym Group

• The Gym Group’s pre-close trading update sees positive trends continuing on from H1, with strong growth in membership and yield.
• The firm announced revenue increased by 18.5% to £99.8m, with memberships of 867,000.
• Finally, The Gym Group stated that like-for-like revenue grew 7% YoY and comparable sites are running at 97% compared to 2019.

Experian

• Experian’s first quarter trading update saw the group deliver strong growth.
• Total revenue grew 5% as well as organic revenue increasing 5%.
• The group’s full year expectations are unchanged, as it anticipates organic revenue of between 4% and 6%.