AO World, Impax and Unite: Markets live

Highlighted

April 10

AO World profits to hit top end of guidance

Shares in AO World (AO) jumped 7 per cent this morning after the electronics retailer said full-year profit growth would land at the top end of its already upgraded guidance.

Total group revenue growth should be around 11 per cent, with business-to-consumer (B2C) growth expected to come in at 9.5 per cent thanks to market share gains across all key categories.

Adjusted profit before tax should hit the top end of its 拢45-拢50m guidance. That represents roughly 15 per cent year on year growth despite what management described as 鈥渕aterial cost headwinds鈥�.

The company had already locked in most of its fuel and all of its electricity costs for the 2027 financial year before recent geopolitical tensions. At the period end, the group expects to have around 拢200mn of liquidity and free cash flow of 拢65mn, up from 拢23mn a year earlier.

Full-year results to 31 March are due on 17 June.

April 10

产测听Hugh Moorhead

Unite holds guidance despite portfolio drop

Unite Group (UTG) said it was on track to meet its 2026/27 academic year guidance despite broader concerns about the student accommodation market.

For its legacy portfolio, the student landlord still expects to achieve the lower end of its 93-96 per cent occupancy and 2-3 per cent rental growth. Currently, 74 per cent of beds have been reserved, down from 76 per cent last year and 86 per cent two years ago.

Performance has been weaker in its recent acquisition, Empiric. Reservation rates there are 33 per cent, down from 48 per cent a year ago.

The valuation of the group鈥檚 portfolio declined 2 per cent during the quarter to 拢4.8bn. The company said it had earmarked a further 拢500mn of properties for disposal in the next six to 12 months, in addition to 拢130mn either under offer or already disposed of thus far in 2026.

Chief executive Joe Lister said: 鈥淭he board is exploring options to accelerate our transition to a more focused, higher-quality portfolio.鈥� Shares were flat in early trading.

April 10

产测听Christopher Akers

Impax plunges on outflows and revenue

Impax Asset Management (IPX) shares tumbled 23 per cent in early trading after the environmental, social and governance-focused fund manager cut annual revenue guidance and disclosed another fall in assets under management (AUM) during the second quarter.

The Aim-listed group鈥檚 revenue forecast is now expected to be between 拢109mn-拢113mn, versus the consensus of 拢124mn. It reported revenue of 拢142mn last year.

Impax pointed to continued net outflows and the expected loss of assets from the Impax Environmental Markets (IEM) trust, which is currently going through an 鈥榚xit tender鈥� process, as reasons for the downgrade.

Over the quarter to 31 March, Impax鈥檚 AUM fell 8 per cent to 拢22.3bn on net outflows of 拢2bn. Management said outflows were due to redemptions from a 鈥渟mall number of institutional investors鈥� and said nearly two thirds of its investments beat benchmarks in the quarter.

果冻传媒

AO World, Impax and Unite: Markets live

Read next