3rd Jul 2026 07:56
(Alliance News) - Craneware expects to underperform market expectations, Caledonia Investments completes its investment in a garden centre operator while Strategic Minerals gets approval to expand its drilling programme in Cornwall.
Here is what you need to know before the London market open on Friday:
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MARKETS
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FTSE 100: called up 0.3% at 10,683.87
GBP: higher at USD1.3376 (USD1.3367 at previous London equities close)
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BROKER RATINGS
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Shore Capital raises Close Brothers to 'buy' (hold) - price target 495 (490) pence
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RBC raises IMI price target to 2,850 (2,700) pence - 'sector perform'
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COMPANIES - FTSE 250
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Caledonia Investments completes its investment in garden centre operator Blue Diamond. The London-based trust investing in public and private companies invests GBP60 million into Blue Diamond, made up of GBP40 million to support future growth initiatives and GBP20 million to facilitate shareholder liquidity. Caledonia holds a full diluted minority shareholding of 16%. The investment was first announced last month. Caledonia and Blue Diamond also agree a framework to make up to GBP40 million of additional follow-on capital available over the next five years. Blue Diamond operates 54 garden centres across the UK and Channel Islands, and generated around GBP395 million in revenue in 2025, as well as earnings before interest, tax, depreciation and amortisation of of around GBP47 million.
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European Smaller Cos Trust says its dividend policy is to target a total dividend of at least 5% of the net asset value per share at the previous year end. Based on the NAV of 252.4 pence per share at the end of June, it expects to pay a total dividend of at least 12.64p per share for the year to the end of June 2027. This would represent a yield of 5.4% based on the share price at the end of June 2026. The company expects to pay the dividend by four quarterly interim distributions of 3.16p per share in November, February, May and August.
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OTHER COMPANIES
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Craneware expects its financial performance for the 12 months to the end of June to be below market expectations. The Edinburgh-based software solutions provider expects to report revenue between USD205 million and USD208 million, compared to USD205.7 million in financial 2025, and adjusted earnings before interest, tax, depreciation and amortisation between USD65 million and USD67 million, similar to USD65.3 million a year prior. "This change results from the timing of eligible 340B activity and the deferral of a small number of significant enterprise contracts, which are now expected to contribute during FY27," Craneware notes. The company adds that customer retention, demand and cash generation "have remained strong throughout the year". It says trading in the last weeks of the year was "materially impacted" by slower than expected conversion of 340B opportunities into revenue. The firm says the pace at which the opportunities translated into eligible drug purchases "slowed significantly" as pharmaceutical firms expanded and operationalised restrictions on the supply of some 340B-price medicines. Craneware says: "Looking ahead, customer demand is increasingly extending beyond software and analytics towards technology-enabled operational transformation that helps healthcare providers realise the opportunities identified by the group's platform." Chief Executive Officer Keith Neilson says: "Naturally we are disappointed not to have delivered the growth that we expected in FY26. While the short-term complexity in the pharmacy market has impacted the year, the long-term opportunity remains intact." Craneware expects to publish its annual results in September.
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Strategic Minerals says its expanded drilling programme at the Redmoor tungsten-tin-copper project in Cornwall, UK has been approved by Cornwall Council's mineral planning officer. This allows the mobilisation of a further two drill rigs to Redmoor. It expects site setup to start after the submission and approval of pre-commencement documentation by the local planning authority. It allows up to three years of continuous operations, though the current programme is currently planned to be completed in the second quarter of 2027. The approval also permits the option to add a further drill rig to the programme later in the year. " This programme is believed by the company to be the largest, continuous, diamond drilling programme to be undertaken in Cornwall," Strategic Minerals adds. The company says it believes the programme "will represent the largest, single, drilling programme undertaken in Great Britain this century". Managing Director Dennis Rowland says: "Receiving planning permission to begin the largest continuous diamond drilling campaign ever undertaken in Cornwall highlights the high-quality submission and effective process undertaken by CRL, with thanks to the Mineral Planning Authority and others for assistance throughout."
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Marks Electrical says Chief Financial Officer Tom Pallatt has decided to leave the company. The Leicester, England-based electrical retailer says it is starting a process to appoint a successor. Pallatt will continue in his current role, including "supporting and facilitating a smooth transition".
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By Michael Hennessey, Alliance News reporter
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Related Shares:
Close BrosIMIThe European Smaller Companies TrustCaledoniaCranewareStrategic MineralsMarks Electric