28th Jan 2026. 9.01am
Regency View:
Update
Regency View:
Update
It’s been a constructive set of updates across our FTSE Investor positions, with several businesses delivering strong trading momentum into the year-end and early signs that execution is starting to outweigh macro noise. Trading statements dominated the newsflow, with upgrades, confident outlook statements and continued market share gains providing a solid backdrop as we move through the first quarter of 2026.
Computacenter delivers a strong finish to FY25
Computacenter (CCC) ended the year on a high note, with a strong second half driving full-year results comfortably ahead of expectations. Revenue growth was particularly impressive, supported by strong execution in Technology Sourcing and continued momentum in Professional Services, offsetting softer conditions in some European markets.
North America was once again a standout, with sustained growth across both enterprise and hyperscale customers. The UK improved as the year progressed, while Germany recovered in the second half as public sector activity picked up. France remains challenging, but this is now well understood by the market.
The balance sheet finished the year in a very strong position, with around £600m of adjusted net funds, giving Computacenter ample flexibility. The acquisition of AgreeYa further strengthens its US services capability and reinforces the long-term strategy of expanding higher-value services alongside scale in sourcing.
What we are watching next: order intake trends and integration of AgreeYa in the US.
Themes: Trading update | Acquisition
CCC Daily Candle Chart
Currys upgrades guidance after a strong Peak
Currys (CURY) delivered an impressive Peak trading update, with like-for-like growth accelerating across both the UK & Ireland and the Nordics. Market share gains, strong mobile sales and continued growth in services and B2B all contributed to the momentum.
The Nordics were particularly strong, with double-digit like-for-like growth and disciplined margin management as the consumer environment continued to recover. In the UK, growth was steadier but broad-based, with recurring service revenue, credit adoption and iD Mobile all moving in the right direction.
Importantly, management upgraded full-year profit guidance and reiterated its commitment to shareholder returns, with buybacks ongoing and net cash expected to finish above £100m. This reinforces the sense that the turnaround has moved into a more durable phase.
What we are watching next: margin progression and cash generation through FY26.
Themes: Trading update | Upgrade
CURY Daily Candle Chart
Experian maintains steady momentum into Q4
Experian (EXPN) reported a solid third quarter, with organic growth of 8% and continued strength across both B2B and Consumer Services. North America remained the engine room, while Latin America benefited from strong consumer engagement alongside integration progress at ClearSale.
The UK and Ireland were more muted, reflecting softer economic conditions, but there were encouraging signs of sequential improvement, particularly in analytics and fraud-related products. Consumer Services continued to perform well, supported by marketplace growth and product innovation.
Full-year expectations were unchanged, and the update reinforced Experian’s ability to deliver consistent growth through cycles, supported by its data assets, technology platform and expanding AI capabilities.
What we are watching next: acceleration in UK B2B activity and AI-driven product rollout.
Themes: Trading update
EXPN Daily Candle Chart
Premier Foods enjoys a strong Christmas
Premier Foods (PFD) delivered a confident Q3 update, with branded revenue up over 5% and full-year profit now expected at the upper end of expectations. Both Grocery and Sweet Treats gained market share, supported by strong innovation and premium ranges performing well over Christmas.
New categories continued to grow at pace, while acquired brands such as The Spice Tailor, FUEL10K and Merchant Gourmet all delivered double-digit growth. International performance also picked up, particularly in Australia and the US.
The update highlighted Premier Foods’ ability to grow through different consumer environments, balancing value and premium offerings while steadily improving margins and returns.
What we are watching next: sustainability of branded growth and progress in new categories.
Themes: Trading update
PFD Daily Candle Chart
Wise continues to scale at pace
Wise (WISE) reported another strong quarter, with cross-border volumes up 25% and customer balances rising sharply as usage of the Wise account continues to grow. The business is becoming increasingly diversified, with card, account and business revenues all contributing.
Take rates edged lower year-on-year, reflecting ongoing investment in growth, but underlying income growth remained strong and margins are tracking toward the top end of guidance. Infrastructure improvements continue to pay off, with a high proportion of payments now delivered instantly.
The update reinforced Wise’s long-term ambition to become the global network for money, with the upcoming dual listing adding another milestone.
What we are watching next: progress on the dual listing and operating leverage as scale increases.
Themes: Trading update
WISE Daily Candle Chart
Whitbread builds momentum in the UK and Germany
Whitbread (WTB) delivered a solid third quarter, with positive RevPAR growth in both the UK and Germany and continued progress on its strategic initiatives. The UK market returned to growth, with Premier Inn maintaining a healthy premium over the wider market.
Germany continues to move in the right direction, with strong accommodation growth and increasing confidence around reaching profitability this year. Cost efficiency expectations were upgraded, providing some offset to ongoing inflation and budget-related headwinds.
Capital discipline remains a key strength, with property recycling, buybacks progressing well and further updates to the Five-Year Plan expected later this year.
What we are watching next: German profitability milestones and updates to the Five-Year Plan.
Themes: Trading update | Strategy
PFD Daily Candle Chart
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