Latest news with #EToro
The Independent
02-07-2025
- Business
- The Independent
Topps Tiles sales jump amid strong trade demand
Topps Tiles has revealed a jump in sales over recent months amid a boost in demand from trade customers. Shares in the tile and flooring retailer lifted on Wednesday after it highlighted 'strong trading momentum' over the latest quarter. The Leicestershire-based company saw group adjusted sales rise 10.1% in the quarter to the end of June, accelerating from 4.1% growth in the first half of its financial year. As a result, sales for the group, excluding the recently acquired CTD business, were 6.1% higher year-on-year for the three quarters so far. Topps said it benefited from improvements across all its divisions, with sales from its Topps branded stores up 7.3% for the quarter. It highlighted that trade sales have been 'stronger than homeowner sales', but said that there have been signs of improvement from homeowners. It came as the retail firm indicated it would face pressure from rising costs. The company said: 'The cost environment does continue to remain challenging, with around £4 million of further cost increases on an annualised basis from April 2025 as a result of the recent changes to national insurance rates and thresholds, together with the increase in national living wage. 'In addition, the group expects performance-related pay to be higher in the second half, as profits increase.' Adam Vettese, market analyst for EToro, said: 'This resilient performance is particularly impressive given the still-muted UK home improvement market, and investors have agreed. 'The macroeconomic backdrop remains mixed, and any sustained improvement in consumer confidence will be key for further upside. 'If we see more of a recovery in the UK home improvement market, then Topps Tiles could be a well-positioned play.' The company saw shares rise 11.5% in early trading.
Western Telegraph
18-06-2025
- Business
- Western Telegraph
Speedy Hire warns over ‘challenging' conditions amid depot closures
Shares in the equipment hire firm dropped on Wednesday morning as it also reported weaker revenues and swung to a loss for the past year. The Merseyside-based business said it was impacted by 'challenging market conditions' after the Government delayed spending on major infrastructure projects, such as Network Rail's development programme. Speedy Hire said these challenges underpin its commitment to its accelerated transformation plan in order to return to growth. Our transformation is key to our business Dan Evans, Speedy Hire chief executive As part of its turnaround efforts, the company said it shut eight of its depots, leading to a reduction in staff numbers. It said its headcount dropped by 74 at the end of March compared with a year earlier. On Wednesday, the company reported that revenues for the year slipped by 1.2% to £416.6 million for the year to March 31. It said its hire business saw sales edge up 0.6% for the year. Meanwhile, the group also swung to a £1.5 million pre-tax loss from a £5.1 million profit a year earlier. It also saw its net debts grow by £11.8 million to £113.1 million. It's been anything but a smooth ride for Speedy Hire Mark Crouch, market analyst for EToro Dan Evans, chief executive of the business, said: 'Despite the macro-economic challenges, we have remained committed to, and in parts accelerated, the implementation of our velocity transformation strategy during its latest phase, which is setting the foundation for growth opportunities for the benefit of our customers and people, whilst maintaining shareholder returns. 'We are focused on what we can control, and we will continue to manage our cost base and balance our investment decisions through the economic cycle. 'Our transformation is key to our business, ensuring service excellence, innovation and ease of transacting for our customers, from an efficient and systems driven operating model.' Mark Crouch, market analyst for EToro, said: 'It's been anything but a smooth ride for Speedy Hire. 'Grappling with spiralling costs and softening demand, the tool and equipment rental firm has found itself under mounting pressure as challenging economic conditions have pushed the business close to its limits. 'With both revenue and profit falling short of estimates, Speedy Hire's full-year results will have done little to shore up investor confidence. 'The broader trend of businesses tightening their belts is already troubling, but Network Rail's decision to delay spending on its £45.4 billion five-year infrastructure programme has delivered yet another hammer blow.'
Yahoo
05-06-2025
- Business
- Yahoo
Will This Profitable IPO Follow CoreWeave's Lead?
Shares of new issue eToro Group are near new highs as the trading platform shakes off a post-IPO dip and nears a buy point and other IPO stocks rally. EToro stock is forming an IPO base with a 74.28 buy point, according to IBD MarketSurge pattern recognition. Like many new issues, eToro stock has been volatile.
Bloomberg
02-06-2025
- Business
- Bloomberg
Software Remains the Missing Ingredient in US IPO Rebound
May's string of successful technology company debuts is reigniting optimism that the once-prolific enterprise software sector will soon resurface as a significant contributor to the US deal mix. Robust initial public offerings last month from EToro Group Ltd., Hinge Health Inc. and MNTN Inc., as well as strong early demand for this week's IPOs from Circle Internet Group Inc. and Omada Health Inc., point to a much improved market for first-time stock sales from companies spanning fintech, digital health, adtech and crypto. Technology IPOs on US exchanges have raised $3.55 billion in the year to date, a slight increase on the same period last year, data compiled by Bloomberg show.
Bloomberg
15-05-2025
- Business
- Bloomberg
Trading Platform EToro Makes Its Market Debut
EToro CEO Yoni Assia discusses the company's upsized IPO and how it differentiates itself from competitor Robinhood. Assia joins Caroline Hyde and Ed Ludlow on 'Bloomberg Technology.' (Source: Bloomberg)
