Big losses for the homebuilder Barratt Redrow this morning after the company posted a trading update. Acknowledging a challenging market backdrop, completions were slightly lower than had been expected but the company believes that the ongoing shortage of housing in the UK will continue to bode well. Investors weren’t so quick to agree however, despite assurances that build cost inflation remained in check and with synergies coming through from the recent merger. The Barratt Redrow share price was 11% lower shortly after the bell.
Another disappointing start for B&M with the market looking straight past the headline of positive quarterly like for like trading performance and instead focusing on falling margins as average selling prices have been squeezed. The company is arguably flexing to meet the strained state of the consumer market in 2025 and store openings continue apace too, but the Chief Exec also acknowledged a need to sharpen commercial and operational execution. The B&M share price was 13% lower in early trade.
The operator of financial planning platform Transact issued a Q3 trading update this morning which was well received. Net inflows were 84% higher, with funds under direction 11% higher. Strong momentum is set to continue into the new financial year and there are expectations that the reduction in revenue margins will now start to slow. Client numbers are up 5% and outflows are also at their lowest level in almost two years. The IntegraFin share price had jumped more than 15% by 8.30am.
Most read news on Investegate this morning
Recommended Cash Offer for Dalata Hotel Group plc - - Dalata Hotel Group (CDI) (DAL)
Barratt Redrow FY25 Trading Update - - Barratt Redrow (BTRW)
Agreement to sell Close Brewery Rentals Limited - - Close Brothers Group (CBG)
