Corporate updates this morning centred on reaffirmed guidance rather than surprises, with defence, retail and utilities names all pointing to steady trading against their prior outlooks. QinetiQ (LSE:QQ.)'s record order backlog and the UK's new Defence Investment Plan underpinned confidence in its year ahead, DFS Furniture confirmed an upgraded profit view despite softer second-half demand, and SSE (LSE:SSE) held its financial guidance steady as networks investment accelerated sharply.
QinetiQ backs full-year view on record backlog
QinetiQ said first-quarter trading matched internal expectations, with the defence engineer entering the year carrying a record opening order backlog. Management pointed to the UK government's new Defence Investment Plan as a further support to its outlook, reiterating full-year guidance on the back of that pipeline strength.
DFS confirms upgraded profit guidance
Dfs Furniture (DFS) confirmed upgraded profit guidance despite facing weaker demand through the second half. Chief executive Tim Stacey said a strong profit performance combined with capital discipline had allowed the group to further reduce its net bank debt and improve its leverage position, giving the business what he described as a solid financial foundation to navigate further market volatility.
SSE holds guidance as networks spending jumps 83%
SSE reiterated its full-year financial guidance unchanged, with first-quarter investment in its networks business surging 83% year-on-year. The company also reported higher renewables output, helped by favourable weather conditions over the quarter, adding to the momentum behind its unchanged outlook.
