7th Apr 2026 07:41
(Alliance News) - JTC reports a swing to an annual profit, Hunting announces deal wins and Volex confirms it plans to move to the Main Market.
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called down 0.2% at 10,418.59
GBP: down at USD1.3235 (USD1.3238 at previous London equities close)
----------
ECONOMICS
----------
Britain will host a meeting of allied military officers to discuss plans for securing the Strait of Hormuz as US President Donald Trump's deadline for Iran to reopen the waterway looms. The US president has given Tehran until 8pm on Tuesday Washington time, 1am on Wednesday UK time, to end its blockade of the strait or be bombed "back to the Stone Ages". At a press conference on Monday, Trump reiterated his threat to attack Iran's civilian infrastructure, including power plants and bridges, dismissing the suggestion that such actions would constitute a war crime. The UK government has pledged to stay out of any offensive action against Iran. Ahead of Tuesday's deadline, Britain's Permanent Joint Headquarters at Northwood, outside London, will host a meeting of military planners to discuss long-term measures to secure the Strait of Hormuz. The strait, a vital shipping route for oil and gas, has been effectively blockaded by Tehran since the outbreak of war, causing major disruption to oil supplies and threatening fuel shortages across the world. Tuesday's meeting is expected to focus on plans for an international coalition to make the strait safe for shipping once hostilities have ended.
----------
BROKER RATINGS
----------
Peel Hunt raises Antofagasta to 'reduce' (sell) - price target 3,155 (3,285) pence
----------
COMPANIES - FTSE 250
----------
Professional services company JTC reports a swing to annual profit, as it looks ahead to "transitioning from public to private". JTC's shareholders back in January backed a GBP2.7 billion buyout by Papilio Bidco Ltd, indirectly owned by funds advised by Permira Advisers LLP and the Canada Pension Plan Investment Board. JTC says pretax profit in 2025 amounted to GBP8.4 million, swinging from a loss of GBP7.4 million. Revenue climbed 25% to GBP381.9 million from GBP305.4 million. "This is most likely the last time that I will present a CEO review as a listed business. I would like to take this opportunity, both personally and on behalf of everyone at JTC, to say that we have enjoyed our time as a public company immensely," Chief Executive Officer Nigel Le Quesne says. "While our overall ownership structure may be transitioning from public to private, our culture of shared ownership remains firmly at the heart of what makes JTC a special and unique business." JTC declares no dividend, amid the looming takeover. Its total dividend for 2025 is 5 pence per share, down from 12.54p in 2024.
----------
Hunting says it has won USD63.5 million worth of orders for its titanium stress joint products, for an offshore development in Guyana. "The award will be completed by the group's Subsea Spring business unit and will be delivered through to May 2028, with revenue being recognised from H2 2026," the provider of equipment and engineering services to oil and gas industry says. "These orders demonstrate the success of Hunting's TSJ solution, which is used on floating production, storage and offloading vessels. They also underline Hunting's strategic ambition to deliver a range of solutions for FPSO vessels used in offshore developments to capture a larger portion of projected spending on major subsea projects."
----------
OTHER COMPANIES
----------
Volex announces the launch of a GBP40 million share buyback and confirms it plans to move to the Main Market from AIM. The maker of power and data transmission products in March said it was considering the move. It is targeting admission before August 4, meaning it would meet the 20-day minimum trading requirement to be eligible for inclusion in the next FTSE Russell index review. With a market capitalisation of GBP876.9 million, it would be a contender for FTSE 250 entry. The buyback, meanwhile, "is to reduce the company's share capital and return surplus capital to the company's shareholders". It adds: "The board regularly reviews the group's cash performance, ongoing capital requirements and approach to capital allocation, and considers the share buyback programme to be in the best interests of the company and its shareholders, providing a further means of returning surplus capital, whilst maintaining the financial flexibility to continue to invest in the group's strategy."
----------
Victoria says it has struck a sale and leaseback deal for its Belgian distribution centre. The designer, manufacturer and distributor of flooring products says the deal has been made with a fund managed by Alirec. Victoria stands to receive EUR34.4 million in cash. "The net cash proceeds will initially be retained on the company balance sheet. Alongside two additional surplus property disposals, the proceeds are expected to fully fund the exceptional costs and capital expenditure associated with the transfer of manufacturing to Turkey," it adds. "The distribution centre will remain the key European distribution hub for Balta Rugs following the relocation of the majority of that company's manufacturing to Turkey."
----------
Lords Group says it has refinanced its existing GBP75 million lending facilities. The GBP75 million, which consisted of a GBP50 million revolving credit facility and a GBP25 million receivables financing facility. These have now been cancelled and repaid. Repayments have been funded by drawings of a new GBP65 million worth of facilities provided by HSBC and NatWest. "The new facilities are more closely aligned with the group's trading activities and demonstrate its diversified customer base and track record in converting receivables into cash. The refinancing is expected to result in material interest cost savings for the group over the life of the facilities," it adds.
----------
Beeks Financial Cloud Group has won a deal worth GBP2.1 million with a "large foreign exchange broker". The five-year deal is for the provision of the Proximity Cloud offering, the cloud computing and connectivity provider for financial markets says. Beeks adds: "Having been a Private Cloud customer since September 2025, the broker is now expanding its use of Beeks' infrastructure, moving to Proximity Cloud, a high‑performance, dedicated and client‑owned trading environment, across multiple locations."
----------
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
VolexAntofagastaJtc PlcHuntingVictoriaLords Grp TrBeeks Financial CloudHSBC HoldingsNatwest