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The FTSE 100 was flat at midday at 7,585.03 as investors weighed the risks posed by interest rates and inflation.
Primark owner Associated British Foods fell 1.5% to £21.00 even as it reported a rise in revenue underpinned by growth in its food and retail businesses despite the impact of cost pressures and Omicron.
Mr. Kipling maker Premier Foods was up 7% to 117.5p after upgrading its annual profit outlook following better-than-expected growth in the third quarter of the year.
Trading profit for this financial year was now expected to be at least £145 million and adjusted profit before tax at least £125 million, following the delivery of 'three strong quarters of trading, and taking good momentum into the final quarter,' the company said.
The upbeat guidance was supported by stronger sales in Q3, with sales up 11.3% on a two year basis.
Shares in assurance solutions provider Spirent Communications rose 5.6% after announcing that it expected to deliver adjusted operating profit 'slightly ahead' of market expectations following a 'strong' performance in the final quarter of the year.
Superdry rallied 7.4% to 267.4p after swinging to a profit in the first half of the year as lower revenue was offset by an improvement in margins as the fashion retailer increased prices .
For the 26-week period from 25 April 2021 to 23 October 2021, pre-tax profit was £4 million compared with a loss of £18.9 million last year, while revenue fell 1.9% year-on-year and 24.9% on a two-year basis.
Gambling company Entain was flat at £17.09 even as it upgraded its outlook on profitability as revenue grew in the fourth quarter of the year, led by a boost from retail growth.
Shares in clay and concrete building products manufacturer Ibstock (IBST) rose 4.2% to 210.8p after announcing that full-year profit was set to be 'modestly' ahead of its previous guidance following strong trading in the final quarter.
Fiscal 2021 earnings before interest, taxes, depreciation, and amortisation, or EBITDA, was expected to be in the range of £875 million to £885 million, ahead of previous expectations.
Takeaways platform Deliveroo gained 2.8% to 174.3p as it reported a 36% rise in the gross value of fourth quarter orders.
Recruitment and professional services company Parity rallied 15% to 7.75p after reporting that it had 'marginally exceeded' market expectations for the full-year following its decision to refocus the business around its core recruitment offering.
For the financial year ending 31 December 2021, revenue was anticipated to be 'slightly ahead' of the £47.6 million target, net fee income in line with expectations of £4.1 million, and the company anticipated a modest adjusted earnings before interest, taxes, depreciation, and amortisation, or EBITDA profit, instead of an expected small loss.
Wiring accessories and Led products maker Luceco fell 3% even as it reported that revenue increased in the fourth quarter of the year, driven by new business wins.