UK Stock Market Update: Coca-Cola HBC, Ibstock, and Legal & General Make Waves
A flurry of fresh interim results hit the UK stock market this morning, setting the tone for investors and analysts alike. The focus? Three major players: Coca-Cola HBC, Ibstock, and Legal & General. Here’s what’s moving the needle in today’s trading session.
Coca-Cola HBC Sees Revenue Surge on Price Hikes
Coca-Cola HBC (LON: CCH) kicked things off with a solid half-year performance. The beverage bottler posted a 9.9% rise in organic revenue, driven largely by price increases. Volume growth? A more modest 2.6%. The figures highlight resilient demand, even as consumers face tighter pockets.
“The strong start to the year has been sufficient to lead management to reiterate full year guidance,” said the company. They expect both organic revenue and EBIT growth to fall at the upper end of their prior estimates.
Though economic conditions remain shaky across various markets, Coca-Cola HBC seems to be weathering the storm well. Its pricing power is clearly holding up. Investors will be keeping a close eye on how inflation continues to shape margins going forward.
Ibstock Begins to Rebuild as Market Recovers
In the construction space, Ibstock (LON: IBST) is showing early signs of a turnaround. The building materials supplier reported that demand is starting to rebound, with volumes creeping higher and an 8.6% uptick in revenue compared to last year.
“Margins are expected to build during the second half of the year,” the company noted. That’s encouraging news, given that profitability has been under pressure. Still, Ibstock is sticking to its dividend, signalling confidence in the rebound.
The company is optimistic about delivering H2 EBITDA ahead of last year’s comparative, assuming current momentum holds. It’s a cautiously positive outlook from a firm long exposed to the UK housing sector’s ups and downs.
Legal & General Delivers a Solid Core EPS
Meanwhile, financial heavyweight Legal & General (LON: LGEN) posted a strong set of interim results. Core operating profit per share hit the top end of guidance, with all segments of the business contributing to the gains.
“Synergies are being delivered and all three sub-businesses are faring well,” said the company in its release. It’s not just talk—the interim dividend is up by 2%, sticking close to earlier forecasts.
With a firm grasp on cost efficiency and solid contributions across insurance, investment management, and retirement solutions, L&G appears to be in good health.
The business outlook? “Positive,” as per the group’s statement, though the market will want to see how macro pressures play out in the second half.
Today’s batch of UK Stock Market updates brings a mix of cautious optimism and strategic resilience. While challenges persist—from inflation to interest rate concerns, major firms like Coca-Cola HBC, Ibstock, and Legal & General are finding ways to adapt and stay ahead.
As earnings season rolls on, investors should keep an eye on the FTSE 350 calendar. There’s more to come, and these early results may set the tone for how UK-listed companies are managing in a cooling economy.
