BUSINESS LIVE: Kingfisher cuts profit forecast, Ocado sales rise and Trustpilot shares rise
From This Is Money
Updated:
The FTSE 100 was up 0.1 percent in morning trade. Companies with reports and trading updates today include Ocado, Kingfisher, Trustpilot, Tui, Henry Boot and Hargreaves Lansdown. Read the Business Live blog from Tuesday September 19th below.
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FTSE 100 update
The FTSE 100 index rose 10.71 to 7663.65 at 10:45 a.m.
P&O Cruises weathers the storm
Even as the cost of living hits families, Brits are still eager to spend some money in the winter, says the boss of P&O Cruises.
Britain’s biggest cruise company has seen a renewed influx of passengers onto its ships, while parent company Carnival said bookings were at an “all-time high”.
Trustpilot shares are rising sharply
Shares in Trustpilot rose sharply on Tuesday morning after the group said it had beaten profit expectations following record first-half results.
The reviews website raised its profit forecast above upper market expectations to $99.2 million after a 16 percent rise in bookings.
“Inflation is expected to fall to 3% next year”
Chancellor Jeremy Hunt said: “Today the OECD set out a challenging global picture, but it is good news that it expects UK inflation to fall below 3 per cent next year.”
“Only by halving inflation can we achieve higher growth and higher living standards.”
“We were among the G7 countries that recovered fastest from the pandemic and the IMF (International Monetary Fund) has said that in the long term we will grow faster than Germany, France and Italy.”
Hargreaves Lansdown reports higher profits
Hargreaves Lansdown has reported a 50 per cent rise in profits this year as rising interest rates pushed customers towards its savings offer.
The group said its profit before tax rose 50 per cent to £402.7 million in the 12 months to June 30, while sales rose 26 per cent to £735.1 million.
Kingfisher lowers profit forecast
B&Q owner Kingfisher has cut its profit forecast for the year, citing low consumer confidence.
Kingfisher, which also owns Screwfix, has cut its profit forecast for the year to £590m from £634m.
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Drew Weisholtz is a Worldtimetodays U.S. News Reporter based in Canada. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. Drew Weisholtz joined Worldtimetodays in 2023 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing: DrewWeisholtz@worldtimetodays.com.
