The FTSE-250 listed high tech manufacturing company Senior issued a Q1 trading update, noting a strong start to the year and performance being ahead of expectations. Revenues are up 3% against the comparative and management note that the impact of tariffs is both limited and manageable. The full year outlook remains unchanged and good growth is expected across the group. The Senior share price was up just over 3% in early trade.
Keeping with the mid-caps and Inchcape, the multinational auto distributor, issued a Q1 trading update this morning. Revenues were lower although this had been anticipated with headwinds in some specific markets being a driver here. Full year guidance remains unchanged although there’s a caveat here that it excludes any potential tariff impact, with the exact shape of these still up for debate and if current conditions prevail there’s an expectation that it will hamper supply. The Inchcape share price was down as much as 6% shortly after the open although losses were quickly pared.
The fast fashion group ASOS published interim results this morning with management heralding the success of the revamped commercial model. Whilst revenues are down, margins improved significantly and the sales trajectory is developing as had been anticipated. The note specifically mentions growth in the US market where orders are now being fulfilled from the UK. Again the tariff question is posed and the agility of the business is seen as key to being able to respond as the picture maps out, but better visibility of the global trade situation would certainly help. The ASOS share price had traded as much as 5% lower before reverting close to unchanged.
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