11th Jun 2026 07:57
(Alliance News) - Halma raises its dividend as profit jumps, Wizz Air omits guidance for its new financial year amid uncertainty from the Middle East conflict, while Schroder Asian Total Return is set to merge with Pacific Assets Trust.
Here is what you need to know before the London market open on Thursday:
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MARKETS
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FTSE 100: called down 0.3% at 10,224.51
GBP: lower at USD1.3377 (USD1.3397 at previous London equities close)
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BROKER RATINGS
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Barclays cuts Vodafone to 'equal weight' (overweight) - price target 110 (120) pence
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Barclays starts Trustpilot with 'overweight' - price target 350 pence
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COMPANIES - FTSE 100
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Halma raises its dividend as it reports higher full-year earnings. The Amersham, England-based safety products manufacturer says pretax profit jumps 28% to GBP490.7 million in the 12 months to the end of March from GBP384.3 million a year earlier. Revenue climbs 15% to GBP2.58 billion from GBP2.25 billion. The company declares a final dividend of 15.11 pence per share, up 7.0% from 14.12p a year ago. This raises the total full-year dividend by 7.0% to 24.74p from 23.12p. Halma reports "record" revenue, and notes growth across all sectors and subsectors, including on an organic basis. Looking ahead, Halma says it has made a positive start to financial 2027, with a strong order book and order intake ahead of revenue and last year. It expects to deliver low double-digit percentage organic constant currency revenue growth in financial 2027, including premium growth of around five percentage points in the photonics business. It forecasts the adjusted earnings before interest and tax margin to be in line with financial 2026. The adjusted Ebit margin widens to 23.0% in financial 2026 from 21.6% in the previous year. Chief Executive Marc Ronchetti says: "This performance enabled us to reinvest at a record level of over GBP600 million for future growth, continuing to make substantial investments organically, in talent and capabilities, and through acquisitions."
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Intertek agrees to extend the deadline for a firm offer from suitor QT Fund Management Sarl to next Thursday. Last month, the assurance, inspection, product testing and certification firm backed a final proposal from EQT worth GBP60 per share in cash. The tilt values Intertek at GBP9.40 billion. Since then, EQT's due diligence and the agreement of definitive transaction documentation has been progressed. Intertek says EQT has requested a period of additional time to complete confirmatory due diligence and governance process. EQT confirms to Intertek that the financial terms of the final proposal remain unchanged. EQT now has until next Thursday to announce a firm intention to make an offer, or that it does not intend to make an offer.
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COMPANIES - FTSE 250
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Wizz Air reports higher full-year earnings but says it is not giving guidance due to a lack of visibility across trading seasons and uncertainty caused by the conflict in the Middle East. The Budapest-based budget carrier says pretax profit jumps 37% to EUR27.0 million in the financial year to the end of March from EUR19.7 million a year prior. Revenue climbs 8.0% to EUR5.69 billion from EUR5.27 billion, while total operating expenses rise 8.9% to EUR5.55 billion from EUR5.10 billion. Operating profit falls 17% to EUR139.7 million from EUR167.5 million, but earnings before interest, tax, depreciation and amortisation jumps 16% to EUR1.32 billion from EUR1.13 billion. The firm says it carried a record 69.7 million passengers in the year, up from 63.4 million in the previous year. Revenue per available seat kilometre falls 0.4% to 4.31 cents from 4.33 cents. "The actions taken during [financial 2026] have further strengthened our resilience and the foundations of our business. With a clear strategy, a highly efficient operating model, a young fleet and financial resilience we are well positioned to deliver sustainable growth and create value over the long term," says Chief Executive Officer Jozsef Varadi. Looking ahead, the company says it is not giving guidance for financial 2027 due to the lack of visibility across its trading seasons, and uncertainty from the conflict in Iran and the Strait of Hormuz closure. It expects a 15% rise in available seat kilometres in the first quarter, with a 20% increase in the second quarter. It expects the load factor to be flat on-year across the first half of financial 2027. Wizz Air says first quarter revenue per available seat kilometre will be down by a mid-to-high single digit percentage, and "flattish" in the second quarter. It says costs per available seat kilometre excluding fuel will be flat to up a low single digit percentage in the first half. Wizz Air did not declare a dividend, unchanged from last year, and says its strategy is to hold significant cash and liquid funds.
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Schroder Asian Total Return Investment and Pacific Assets Trust agree the terms of a proposed combination. The investors in the Asia Pacific region say Pacific Assets shareholders will be entitled to receive new shares in Schroder ATR. They will also have the option to participate in a cash exit, which will be limited to 25% of Pacific Assets' share capital and will be offered at a 2% discount. "The scheme will create a combined entity with significant scale, which is expected to deliver cost efficiencies for both ATR and continuing Pacific Assets shareholders," the two firms say. The enlarged ATR is expected to have a pro forma net asset value of around GBP1.1 billion. "With greater scale, it is anticipated that ATR will be attractive to a wider range of investors, who may have been constrained by ownership restrictions, and that the secondary market for its shares will be more liquid," it says. The enlarged ATR will put forward a 15% performance-related tender offer to its shareholders if, over the five-years to the end of 2030, ATR's NAV total return does not exceed the total return of the MSCI AC Asia Pacific ex Japan index. The two firms says they aim to convene general meetings later in 2026 with the scheme become effected no later than the fourth quarter of 2026. ATR Chair Sarah MacAulay says: "The proposed combination will provide shareholders with the scale and liquidity that is increasingly desired in the investment trust industry. The board believes that the proposed combination is compelling for Pacific Assets, ATR and prospective shareholders and will position ATR for future growth as the pre-eminent Asia Pacific investment company." Pacific Assets says it concludes its strategic review with the combination with ATR.
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OTHER COMPANIES
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Concurrent Technologies secures its largest single contract to date, worth around GBP17 million. The Colchester, England-based designer and manufacturer of computer products for use in critical embedded applications says the four-year order from a "major European defence equipment prime contractor" eclipses by far last year's previous largest order of USD6.2 million. The "long-standing" customer is a leading provider of ground-based air defence systems and is expanding its production capacity to support increasing demand, Concurrent says. The contract is for the supply of three variants of an established VME-based computer boar, with a total volume of other 3,400 units. "This covers existing customer demand, spares and anticipated future demand for the next four years, enhancing revenue visibility for the company," it says. The contract includes an upfront milestone payment to fund procurement of components. "This order represents our largest ever contract win and demonstrates the longevity of our product set and the strength of our long-standing customer relationships," says Chief Executive Officer Miles Adcock.
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Heathrow Airport says May passenger numbers fall 1.2% to 7.1 million. Passenger numbers for the Middle East market sink 31% to 450,000, due to the ongoing conflict in the Middle East. Passenger figures to the EU rise 2.1% to 2.6 million, with North America passengers are up 1.3% to 1.9 million while Asia Pacific climbs 2.8% to 928,000. Cargo traffic was up 2.1% in May. The airport says May 22 set a record for its busiest day in May ever, with 262,000 passengers.
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By Michael Hennessey, Alliance News reporter
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Related Shares:
VodafoneTrustpilotHalmaIntertek GroupWizz AirSchroder AsianPacific Assets TrustConcurrent Technologies