Online retailer boohoo (LON: DEBS) reported full-year results that met expectations. The company successfully implemented cost reductions, leading to a reduced loss of £23.9 million. Panmure Liberum subsequently raised its 2026-27 forecast revenues for boohoo by 8% to £877 million, though its pre-tax profit forecast remained unchanged at £21.2 million. The company expects to halve capital expenditure this year, which should improve cash generation and nearly halve net debt to £47 million by the end of February 2027, even before a potential sale of its Burnley warehouse. Despite these positive developments, boohoo's share price declined by 5% to 23.75p due to market re-evaluations.
Castings (LON: CGS), a Midlands-based iron casting and machining group, saw its shares fall after reporting that full-year revenues decreased by 2.1% to £173.2 million, reflecting subdued demand across its end-markets. Despite the revenue dip, operating profit for the year more than doubled to £10.0 million from £4.8 million. The company maintained its final dividend at 14.19p per share, bringing the full-year payout to 18.4p, consistent with the previous year. Demand from heavy truck customers, which constitute 70% of group revenues, remained at reduced levels compared to the previous year, with European heavy truck demand estimated to be 10% below normal trends. However, the company is actively developing opportunities in electric lighter trucks, wind energy, and agriculture, showing initiatives for future growth.
Tatton Asset Management (LON: TAM) continued to outperform expectations, with full-year revenues increasing by one-fifth to £54.4 million. The company's underlying pre-tax profit reached £28.5 million, slightly exceeding an already upgraded forecast. Tatton also boosted its full-year dividend by 42% to 27p per share. Assets under management grew to £24.2 billion and have since increased to £26.5 billion since March, driven by net inflows of £600,000. Zeus, a financial analyst, raised its 2026-27 pre-tax profit forecast for Tatton by 8% to £34.5 million, anticipating continued net asset inflows of £246 million per month. The company's share price gained 11.5% to 671p, though it is still below its yearly high, indicating investor confidence in its sustained performance.
