12th Aug 2026 07:55
(Alliance News) - Infrastructure firms Balfour Beatty and Hill & Smith have both lifted their 2026 guidance and upped their first-half dividends, while gambling firm Evoke reports a slightly wider half-year loss as its takeover nears.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called down 0.2% at 10,817.99
GBP: lower at USD1.3506 (USD1.3509 at previous London equities close)
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ECONOMICS
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UK Prime Minister Andy Burnham has said he wants to go "further" in supporting high street businesses at the budget with their business rates, after announcing plans to slash the tax for pubs, clubs and venues. The 20% rates relief for pubs and other similar venues was among the first announcements the PM made when he came into office, as part of a series of cost-of-living related measures. Speaking to BBC Radio 5 Live's Wake Up To Money programme, Burnham suggested he wanted to go further with business rates relief at the budget on October 28. He told the programme: "We are going to bring forward the VAT cuts on electricity, we are bringing forward the business rate cuts for pubs, we're going to look at business rates more broadly for high street businesses in the budget, so there's plenty more that we can do."
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BROKER RATINGS
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Kepler Cheuvreux raises Melrose Industries to 'buy'
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Berenberg starts Raspberry Pi with 'hold' - price target 670 pence
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COMPANIES - FTSE 250
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Balfour Beatty says it now expects a 2026 performance "slightly ahead of prior guidance", and the infrastructure construction firm has lifted its first-half dividend. Pretax profit in the first six months of 2026 edged 2.3% lower to GBP129 million from GBP132 million, the firm says, though revenue climbed 8.0% to GBP5.56 billion from GBP5.15 billion. "Balfour Beatty enters the second half with real momentum. Our strong first-half performance reflects the quality of our business, the discipline of our execution and, above all, the exceptional contribution of our people in delivering for our customers," Chief Executive Philip Hoare says. Underlying pretax profit improved 46% to GBP139 million from GBP95 million. Underlying profit from operations was 42% higher at GBP153 million from GBP108 million a year earlier, and for the whole of 2026, Balfour Beatty now expects "low double digit percentage". Its previous view was for "high single-digit percentage growth". "Supported by a GBP23 billion order book, attractive growth markets and strong operational momentum, Balfour Beatty is well positioned to deliver these programmes safely, efficiently and at scale," the CEO adds. Balfour Beatty has lifted its interim dividend by 12% to 4.7 pence per share from 4.2p.
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Hill & Smith reports it has lifted its annual guidance, after a first half performance driven by US trading, but trading conditions in the UK were more "challenging". The infrastructure products provider says pretax profit in the six months to June 30 declined 16% to USD69.2 million from USD82.4 million, with revenue up 8.1% to USD606.7 million from USD561.1 million. Hill & Smith says it has booked non-underlying items of USD26.9 million, rising markedly from USD7.2 million, keeping a lid on profit. These items include business reorganisation costs, impairments, amortisation and the loss on subsidiary disposals. Underlying pretax profit is up 7.3% to USD96.1 million from USD89.6 million, while underlying operating profit climbs 7.7% to USD102.9 million from USD95.5 million. For the whole of 2026, it now expects "underlying operating profit to be modestly ahead of our previous expectations". Its previous view was for an outcome around USD212 million, which would have represented a 6.2% hike from USD199.7 million. Hill & Smith says it has upped its first half dividend by 6.8% to 25.0 cents per share from 23.4 cents. CEO Rutger Helbing says: "This has been another period of strong progress for Hill & Smith, led by double-digit organic growth in the US and continued strong demand across our infrastructure end markets. Our recent acquisitions of Freeberg and Hentech are performing well, and the on-track commissioning of Freeberg's new Arizona facility further enhances our capability in a key strategic market. While UK trading conditions remain challenging as expected, we are taking decisive portfolio and operational actions to improve resilience and margins over time."
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Atalaya Mining investor Urion Investment Holdings has sold 16.8 million shares in the operator of the Proyecto Riotinto copper mine in Spain. Urion, part of the Trafigura group, sold the shares at 915 pence each, raising GBP154 million in total. The shares represented just under 11% of Atalaya. The move means Trafigura has sold its remaining Atalaya stake. JP Morgan acted as sole global coordinator and joint bookrunner in connection with the secondary placing. BMO Capital Markets Ltd acted as joint bookrunner. Atalaya did not receive any proceeds from the sale. Trafigura in February sold 14.0 million Atalaya shares, an 8.5% chunk at the time, at 945p, worth GBP132 million. Trafigura is a Singapore-based commodities supply chain firm.
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OTHER COMPANIES
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William Hill, 888 and Mr Green owner Evoke hails a "resilient" first half, in the face of a tougher regulatory backdrop in the UK. The gambling firm's pretax loss in the first half of 2026 widened slightly to GBP80.0 million from GBP77.7 million a year earlier, and it reports flat revenue on-year of GBP887.5 million from GBP887.8 million. "The first half demonstrated the resilience of the business in a significantly more challenging operating environment following substantial increases in gaming duties introduced across some of our core markets, most notably in the UK," CEO Per Widerstrom says. Adjusted earnings before interest, tax, depreciation and amortisation fell 10% to GBP150.2 million from GBP165.9 million, an outcome in line with expectations, Evoke says. Evoke notes "significantly improved underlying profitability year-on-year offset by a GBP46 million year-on-year increase in gaming duties, predominantly in the UK". It adds: "Over half of this gross duty headwind during the period was offset through lower but more effective marketing investment, improved promotional efficiency and operational cost savings." Evoke reports "strong levels of engagement throughout the FIFA World Cup providing a good foundation ahead of the upcoming football season". The World Cup concluded on July 19, so some of the tournament's rounds took place after the first half of 2026. Evoke in June agreed to a GBP243 million takeover offer from Bally's Intralot. "The recommended acquisition remains subject to the relevant shareholder, regulatory and other approvals, including approval by evoke shareholders at the court meeting and general meeting scheduled for 17 August 2026," it adds.
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Recently-listed Bravura Solutions reports a slight decline in annual pretax profit, despite revenue rising. The provider of enterprise software for the wealth management and funds industries, which was already listed in Sydney, debuted on AIM last month. Pretax profit in the year to June 30 declined 19% to AUD74.9 million, around GBP39.2 million, from AUD92.9 million, though revenue rose 9.6% to AUD283.6 million from AUD258.7 million. "Our dedicated team of approximately 950 made a strong impact in FY26," it says. Bravura announces it has entered into new debt facilities with HSBC worth AUD100 million. In addition, it announces a share buyback of up to AUD50 million. "The buy back will be funded from existing cash reserves and as required, Bravura's debt financing, referred to above. Bravura will maintain a strong balance sheet following completion of the buy back and the board will continue to assess its capital management strategy," it adds. It announces an 8.31 cents per share final dividend and 6.69 cents special payout.
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By Eric Cunha, Alliance News news editor
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MelroseRaspberry PiBovis HomesEvoke PlcAtalaya MiningHill & SmithBalfour Beatty