OSB Group shares slide 13.4% as interim profit misses forecasts and net interest margin narrows to 223bps
AI Market Summary
London equities opened firmer on mixed earnings: OSB plunged after weaker profit, higher impairments and reduced net interest margin guidance, while WPP surged on improving revenue trends. FTSE support also came from Metlen, Admiral and Persimmon results, though several flagged tougher conditions. Macro tone is cautious as Iran-related shipping news remains uncertain and US tech weakness weighed on Asia, keeping risk appetite balanced.
Impact level
● Low
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NCCOGOLD2USD/USDT+0.33%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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OSB Group reported interim results with profit after tax below expectations, alongside a narrowing net interest margin to 223bps and a sharp rise in impairments to £16 million. Shares fell 13.4% as profitability came under pressure despite a 1.3% increase in the net loan book and 10% growth in originations. The company also cut guidance for its net interest margin.
