24th Sep 2025 07:55
(Alliance News) - London's FTSE 100 is called to open lower on Wednesday, as investors weigh a cautious stance from the US Federal Reserve and gold prices continue to rise.
In early corporate news, JD Sports Fashion reports interim profit growth, boosted by acquisitions, while Baltic Classifieds reduces its earnings guidance following a tax blow in Estonia.
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 0.1% at 9,211.92
GBP: down at USD1.3499 (USD1.3509 at previous London equities close)
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BROKER RATINGS
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Barclays raises Smiths Group price target to 2,330 (2,265) pence - 'equal weight'
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JPMorgan cuts Wizz Air price target to 1,050 (1,100) pence - 'neutral'
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Citigroup raises Phoenix Group price target to 769 (730) pence - 'buy'
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COMPANIES - FTSE 100
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JD Sports Fashion reports pretax profit of GBP138 million for the 26 weeks to August 2, rising 9.5% from GBP126 million the year before. Revenue grows 18% to GBP5.94 billion from GBP5.03 billion, driven by its acquisitions of Hibbett and Courir during the period, while selling and distribution expenses increase 20% to GBP2.14 billion from GBP1.79 billion. JD Sports Fashion declares an interim dividend of 0.33 pence per share, unchanged on-year. "In an environment of strained consumer finances and evolving brand product cycles, operating and financial discipline remains a core focus for JD, and we are controlling our costs and cash well," says Chief Executive Officer Regis Schultz. "Whilst we remain cautious on the trading environment for the second half, we expect limited impact from US tariffs this financial year, and our full year profit before tax and adjusting items to be in line with current market expectations." The company remains cautious due to "continued pressure on consumer finances, elevated unemployment risk and the ongoing transition in the footwear product cycle", it explains. The firm will begin its second GBP100 million share buyback programme "soon". JD Sports Fashion expects full-year pretax profit before adjusting items to be in line with a company-compiled market consensus for around GBP878 million, which would be down 4.9% from GBP923 million the year before. Pretax profit before adjusting items for the first half fell 14% to GBP351 million from GBP406 million.
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COMPANIES - FTSE 250
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Baltic Classifieds Group PLC notes the Estonian car market has been "depressed" by the new vehicle transaction and ownership tax, with "early signs of recovery" stalling and resulting in a continued reduction in revenue within its Auto24 arm. The company now expects revenue and profit growth for the full year ending April 30 to be 3% to 4% below its previous expectations. Baltic Classifieds had previously guided for revenue growth close to the year before, with the second half performing more strongly than the first. The firm reported revenue of EUR82.8 million in financial 2025, up 15% from EUR72.1 million in financial 2024.
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OTHER COMPANIES
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On the Beach Group reports a third consecutive year of growth for the year ending September 30, with total transaction value of holidays booked up 11% from the year before at GBP1.23 billion. Full-year adjusted pretax profit on a continuing basis, excluding business-to-business, is expected between GBP34.5 million and GBP35.5 million. The company is winding down its B2B segment, trading as Classic Collection, which made "a small loss" during the year "to focus on the higher growth potential of the B2C business trading as On the Beach", it says. The firm announces a further share buyback programme for up to GBP25 million, building on the GBP30 million already returned to shareholders during financial 2025. ""It remains clear that customers are still prioritising their holidays with our winter [2025] bookings up 12% and we are confident that summer [2026] will continue to build, notwithstanding the later booking patterns," says CEO Shaun Morton. "The board and management team remain focused on delivering the group's medium-term ambition of TTV of GBP2.5 billion, [earnings before interest, tax, depreciation and amortisation] of GBP100 million and adjusted pretax profit of GBP85 million and I look forward to updating further at our final results in December." On the Beach also enters a new four-year credit facility of GBP120 million with Lloyds, NatWest and HSBC, with a GBP30 million accordion. This replaces the previous facility which was due to expire in 2027.
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Beauty Tech Group announces a price range of 251p to 291p per share for its planned initial public offering on the London Stock Exchange's Main Market, which implies an estimated market capitalisation of around GBP280 million to GBP320 million. The offer comprises up to 11.6 million new shares to raise primary capital of around GBP29 million, to ensure a debt-free position upon admission with sufficient working capital. The IPO will also include the sale of 29.3 million existing shares by shareholders. Admission to the London market is expected in October. The Beauty Tech Group sells at-home treatment technology including laser devices and LED face masks through the brands Tria Laser, CurrentSkin and Ziip Beauty. Project Glow is the group's parent company.
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By Emily Parsons, Alliance News reporter
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Related Shares:
Smiths GroupWizz AirPhoenix Group HoldingsJD SportsBaltic Classifieds GroupOn The Beach