Countryside, Patisserie and British Land

“The FTSE100 was lower in early trading as pensive investors awaited UK average earnings and unemployment data, both due out mid-morning, which follow yesterday’s bigger-than-expected rise in inflation,” says AJ Bell Investment Director Russ Mould.

“Home-builder and regeneration partner Countryside Properties was an early riser after upgrading its outlook for this year and next. The group had a strong first half and enters the second half with a record private forward order book. Investors will be encouraged by the bullish update which comes less than 24 hours after Berenberg initiated coverage of the stock with a ‘buy’ rating and a price target of 330p. The group’s performance in the six months to the end of March exceeded forecasts with its Partnerships division once again delivering outstanding growth and returns. Countryside’s shares were up 2.3% in early trading.

“Branded cafe and casual dining group Patisserie Holdings topped the AIM board after interim pre-tax profits rose by 15.7% to £9.7m. Patisserie opened 10 new stores in the first half and the pipeline to the end of the year to achieve its target of 20 new store openings is on track. The group saw growth in revenues and profit and excellent cash conversion despite the challenging market conditions and the current inflationary environment. Patisserie’s shares were up by more than 2.9%.

“British Land's shares slipped in early trading despite good full-year results. Underlying profits rose by 7.4% to £390m in the year to the end of March but the group is operating in an uncertain environment which is likely to continue for some time. British Land’s shares were down by 0.96% in early trading.”

These articles are for information purposes only and are not a personal recommendation or advice.