WH Smith issued a profit warning, expecting £75m-£90m pre-tax profits, down from £90m-£105m, due to falling shopper numbers in US airports linked to the Middle East war. The retailer raised £102m via a share sale.
Rolling coverage of the latest economic and financial newsStarmer faces fight to survive as Streeting and Rayner eye leadership bidsGovernment bond yields are rising across the board this morning, although UK debt is leading the losses.US and eurozone borrowing costs have also pushed higher, on concerns that the lack of progress towards ending the Iran war will lead to higher oil prices, more inflation, and higher interest rates.Inflationary headwinds as a consequence of the conflict in the Middle East are weighing on a number of UK businesses. We have already heard from companies like Next, Asos, Sainsbury’s and WH Smith which have warned of higher costs. Now shares in Victrex have shed almost 6% today on the back of a profit warning. It anticipates weaker annual profit before tax of between £42m and £44m for fiscal 2026, falling short of estimates for £46.6m. First half underlying pre-tax also profit dropped by 18% to £19m.The UK mid-cap polymer maker says the Iran war will push up energy and raw material inflation. The company is responding by reducing headcount by 10% to cut costs elsewhere. Continue reading...
The ASX is set to slip today as CSL issues a profit warning. More strong earnings news, demand for AI stocks and positive jobs data drove Wall Street higher. Follow the ABC News live markets blog.
The ASX falls sharply as CSL shares tank 20 per cent. More strong earnings news, demand for AI stocks and positive jobs data drove Wall Street higher. Follow the ABC News live markets blog.
International Airlines Group expects to spend £1.7bn more on fuel than planned since US-Israeli attack on IranBusiness news – live updatesThe parent company of British Airways has issued a profit warning and said it expects to spend about €2bn (£1.72bn) more on fuel than planned this year due to the Iran war.International Airlines Group (IAG), which also owns Aer Lingus, Iberia and Vueling, said it has hedged 70% of its expected fuel use for this year with costs expected to be about €9bn, up from previous forecasts of €7.1bn. Continue reading...
Chair Tim Martin says pub chain could miss expectations, in latest sign UK hospitality sector buckling under higher billsBusiness live – latest updatesThe boss of JD Wetherspoon has said the pub chain could miss profit expectations because of rising costs, in the latest sign the UK hospitality industry is buckling under the pressure of higher energy, food, labour and tax bills.The company’s chair, Tim Martin, told investors on Wednesday: “As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs.” Continue reading...
WH Smith has issued a profit warning and suspended shareholder payouts as the travel-focused retailer grapples growing travel disruption caused by the Middle East crisis.
