14th Sep 2026 07:55
(Alliance News) - GlobalData reports its annual earnings are to fall short of expectations, while MP Evans reports a half-year profit spike but says El Nino could temper production in times to come. Meanwhile, Brave Bison has sweetened its bid for System1.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called up 0.1% at 10,662.34
GBP: down at USD1.3500 (USD1.3523 at previous London equities close)
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ECONOMICS
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Andy Burnham will call for a "culture shift" as he gathers business leaders in Downing Street on Monday to pledge to back entrepreneurs. The UK prime minister is expected to host a series of events in No 10 aimed at pitching his government as a "partner for growth" that can offer a stable platform for investment in the UK. Ahead of the event, Burnham said Britain has "everything it needs to succeed" but requires "a culture shift" in how it does business if it is to "unlock its full potential". He added: "That means putting government firmly on the side of the people who take risks, start companies, create jobs and bring new ideas to life. It means ensuring ambition is rewarded, making it easier to start and grow a business, and giving people the confidence that if they have a great idea, they'll get all the support they need to bring it to life." Monday will see Burnham host a roundtable with entrepreneurs including the founders of Octopus Energy, Revolut and Starling Bank, before welcoming chief executives from some of Britain's largest businesses for a reception in No 10 along with regional mayors. Attendees are expected to include the bosses of HSBC Holdings, Rolls-Royce Holdings, Morrisons, BAE Systems and Shell.
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BROKER RATINGS
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Berenberg raises Antofagasta to 'buy' (hold) - price target 4,400 pence
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COMPANIES - FTSE 100
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Zurich Insurance Group's buy of Beazley has received regulatory approval, paving the way for the deal to be sealed at the start of next month. Back in early March, insurer Beazley announced its acceptance of a GBP8.2 billion takeover approach from Zurich. "Zurich and Beazley are pleased to confirm that the regulatory approvals have now been satisfied," the duo say on Monday. The deal is expected to take effect on October 1.
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COMPANIES - FTSE 250
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GlobalData reports an improvement in half-year revenue, but profit falls on rising finance charges. The data, analytics, and intelligence firm says the first half of the year was one of "organisational progress" but "below our ambitions". Pretax profit in the six months to June 30 declined 6.1% to GBP23.2 million from GBP24.7 million, while revenue improved 4.1% to GBP162.9 million from GBP156.5 million. On an underlying basis, revenue rose 1%, it adds. Finance costs doubled to GBP7.7 million from GBP3.8 million amid "increased bank debt", GlobalData says. Adjusted earnings before interest, tax, depreciation and amortisation rose 5.2% to GBP54.8 million from GBP52.1 million. It maintains its interim dividend at 0.3 pence per share. "While H1 saw substantial organisational progress, revenue and growth remained below our ambitions and the benefits of the transformation have not yet been reflected in our financial performance. The foundations are now in place, and our focus is firmly on execution," Chief Executive Officer Mike Danson says. Looking ahead, it expects annual underlying revenue to be "more muted than expected", though still in line with market expectations. It puts market revenue expectations between GBP325.3 million and GBP335.7 million. Profit will be below forecasts, however. "The reduction in revenue outturn, together with targeted investments through the second half will mean margins are more subdued than market expectations, and in line with the first half adjusted Ebitda margin. Therefore, we expect adjusted Ebitda for FY26 to be below market expectations," it warns. Adjusted Ebitda forecasts range from GBP121.0 million to GBP126.7 million. In 2025, it achieved revenue of GBP322.1 million and an adjusted Ebitda of GBP110.2 million.
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OTHER COMPANIES
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MP Evans has lifted its interim dividend, after a "particularly encouraging" first half for the palm oil producer. Pretax profit in the first half of 2026 jumped 25% to USD78.6 million from USD63.0 million, while revenue improved 9.4% to USD196.3 million from USD179.4 million. "The first half of 2026 has been particularly encouraging for the group, with increases in both crop harvested and extraction rates in our mills. Our focus on efficiency helps us to push down unit costs, and our gross margin has improved again, leading to another increase in earnings. As a result, the board is confident in taking another step in the group's progressive approach to dividends," Chair Peter Hadsley-Chaplin says. MP Evans lifts its interim dividend by 39% to 25p per share from 18p. Crude palm oil output during the first half improved 11% to 192,300 tonnes, MP Evans says, while crop harvested rose 14% to 705,400 tonnes. "The trend of increasing crop has continued as we move into the second half of the year. During the two months to August 2026, the total crop harvested from areas managed by the group was 259,700 tonnes a sizeable increase of 24% on the equivalent period in 2025," the firm says. However, it notes some "changes in weather patterns" in Indonesia due to El Nino conditions in the Pacific Ocean. "This has resulted in lower-than-normal rainfall levels which may lead to a reduction in production levels across Indonesia and Malaysia, albeit with a time lag due to the way in which ffb are formed within oil palms," MP Evans says. "Any changes to production levels in Indonesia and Malaysia may not be noticed until 2027. Should there be a fall in overall production, this may be balanced by an increase in commodity pricing. Management will continue to monitor the situation."
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Cerillion warns of an annual earnings miss, as the billing, charging and customer relationship management software company reports that some new and existing orders have been delayed or deferred. For the year ending September 30, revenue is now expected in a GBP46 million to GBP48 million range, with adjusted Ebitda margin between 43% and 45%. In the prior financial year, revenue was GBP45.4 million and the adjusted Ebitda margin was 50.9%. Its forecast for the current year sits behind consensus, which it puts at GBP52.8 million for revenue and 45.2% for the margin. "The main reason for the shortfall is that some anticipated new and existing customer orders have been delayed or deferred. This included software licence expansions and upgrades. Major implementations are progressing, with the transformation project at UCom nearing completion and software installation having been completed at Omantel. The back-order book remains strong, the new customer pipeline remains healthy and the balance sheet is very robust," Cerillion says.
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Brave Bison upped its bid for fellow London listing System1. Under the terms of the bid, System1 shareholders will receive 135p in cash and 2.394 new shares in advertising and communications agency Brave Bison. The bid values System1 shares at 360p, when using the 20-day average closing price of Brave Bison shares on July 10. It values System1's entire issued, and expected to be issued, share capital at GBP47.5 million. System1 is also an advertising and communications agency. The bid is an 82% premium to System1's undisturbed share price of 198p on February 27, before Brave Bison acquired a 28% stake in the firm. Brave Bison had paid 242p for each System1 share acquired in that investment. Its last offer for System1 had an implied value of 327p. System1 shareholders would own just under 17% of the enlarged firm under the terms of the latest bid. In addition to the stake in System1 it owns, Brave Bison notes it has received letters of intent from around 11% of System1 shareholders to accept the latest bid. The offer has a minimum acceptance condition of greater than 50% of voting rights.
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By Eric Cunha, Alliance News news editor
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Related Shares:
AntofagastaBeazleyGlobalDataM P EvansCerillionSystem1 GroupBrave BisonShellBAE SystemsRolls-RoyceHSBC Holdings