18th Sep 2025 07:57
(Alliance News) - Next's half-year profit rose but the retailer decided against another guidance hike, as growth in the UK is expected to ease. C&C Group's finance chief will leave to join Domino's Pizza Group which announced a series of changes as it "embarks upon a period of accelerated activity".
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called up just 3.6 points at 9,211.97
GBP: lower at USD1.3600 (USD1.3661 at previous London equities close)
----------
ECONOMICS
----------
Keir Starmer will host Donald Trump at his grace & favour country home on Thursday, as the prime minister continues his campaign to woo the US president during his unprecedented second state visit to Britain. The UK prime minister is hoping to keep the focus of the visit on an influx of American investment into the UK, all while both his government and the Trump administration are plagued by scandals related to the paedophile financier Jeffrey Epstein. Overnight, Starmer announced the prospect of some GBP150 billion flowing into the UK from big US firms such as Blackstone and Palantir.
----------
BROKER RATINGS
----------
Berenberg starts 3i Group with 'outperform' - price target 5,200 pence
----------
COMPANIES - FTSE 100
----------
Retailer Next says it says maintained annual guidance after a first half earnings improvement, though it expects a slowdown in growth in the UK in the second half of the year. The clothing and homewares retailer's pretax profit in the six months to July 26 improved 18% to GBP509.0 million from GBP432.1 million a year prior. Revenue advanced 9.9% to GBP3.14 billion from GBP2.86 billion. Full price sales during the period improved 11%, Next says. For the full-year it still expects full price sales of GBP5.44 billion, a rise of 7.5% on-year. Pretax profit of GBP1.11 billion is still predicted, a rise of 9.3% on-year. UK sales growth of 1.9% is expected for the second half, easing from 7.6% in the first. "We expect UK employment opportunities to continue to diminish as we enter the second half, with the effects of April's national insurance changes continuing to filter through into the economy as the year progresses. We believe that this will increasingly dampen consumer spending in the second half of the year," Next says. It also adds that the second half comparative is stronger than the first and second quarter trading was boosted by warmer weather "and trading disruption at a major competitor". Fellow retailer Marks & Spencer Group had halted in April online orders following a cyber attack. Next declared an 87p per share interim dividend, up from 75p a year prior.
----------
COMPANIES - FTSE 250
----------
C&C Group expects annual profit in line with expectations, after a first half that went to plan. In addition, the firm's finance chief plans to step down. In a trading statement, the cider maker says net revenue for the first half to August 31 declined 4% on-year at constant currency. This reflects "the impact of lower distribution revenues following the previously disclosed transfer of control of AB InBev Off Trade Beer distribution in the Republic of Ireland". It also notes the exit of "some lower margin business in the period". Underlying operating profit in the range of EUR41.5 million to EUR42.0 million is expected, in line with its expectations. Underlying operating profit in the first half of the prior year amounted to EUR40.3 million. "Despite the challenging macroeconomic backdrop, we will continue to invest in the business to improve performance, support growth and ensure we deliver for all our customers and consumers," C&C says. "Whilst the macroeconomic environment remains challenging and we have the all-important Christmas trading period ahead of us, we remain on track to achieve operating profit in line with market expectations." C&C's Chief Financial & Transformation Officer Andrew Andrea is to leave the position "no later than March 13" to move to fellow FTSE 250 listing Domino's Pizza Group. "The search for a new CFO will start immediately in line with the C&C succession plan, and a further update will be issued in due course," C&C says.
----------
Domino's Pizza Group has tapped C&C's Andrea as its next finance chief. The master franchise holder in the UK and Ireland for pizza delivery firm Domino's Pizza Inc will join DPG on March 16, after serving a notice period. "Andrew is a proven FTSE CFO with highly relevant sector experience. Prior to joining C&C Group, he spent nearly 22 years with Marstons PLC, including 12 years as CFO. He has extensive experience of M&A and of operating in franchise models at both Marstons and, earlier in his career, the optician chain Dollond & Aitchison. Andrew was a non-executive director of Portmeirion Group PLC from 2017 to 2024," DPG says. Edward Jamieson, DPG's current CFO, leaves by mutual agreement with effect Thursday. He has served as CFO since 2022. Richard Snow will take over as interim CFO with immediate effect. Over the past year, Snow has "worked with DPG on strategic projects". He previously served in CFO roles at Ladbrokes and Cavendish Corporate Finance. In addition, DPG says Senior Independent Director Lynn Fordham will take on a new position of "special adviser to the board" as the company "embarks upon a period of accelerated activity". Fordham has stepped down from the board as a result but may rejoin it again. DPG still expects annual underlying earnings before interest, tax, depreciation, and amortisation in the range of GBP130 million to GBP140 million.
----------
Renishaw upped its dividend and hailed "record" revenue despite "challenging market conditions". The provider of manufacturing technologies, analytical instruments, and medical devices says pretax profit in the year to June 30 faded 3.7% to GBP118.0 million from GBP122.6 million. On an adjusted basis, however, it improved 3.8% to GBP127.2 million. Revenue rose 3.1% to GBP713.0 million from GBP691.3 million, Renishaw says. "I am pleased to report record revenue in FY2025, combined with an increase in adjusted profit before tax in what remain challenging market conditions. We continue to make solid progress with our innovation-led growth strategy, introducing many exciting new products this year and equipping our expanded manufacturing facilities for future growth," Chief Executive Officer Will Lee says. "There has been a steady start to FY2026, in line with our expectations. Despite the continued global uncertainty, the structural drivers that underpin our markets are presenting growth opportunities across our businesses and at this stage we are expecting to achieve further steady revenue growth in the year ahead." Renishaw has upped its interim dividend by 3.2% to 61.3 pence per share from 59.4p. Its total dividend is 2.5% higher at 78.1p.
----------
OTHER COMPANIES
----------
Developer of maritime awareness systems SRT Marine has been awarded a deal with a "new sovereign customer". SRT will supply a "substantial maritime surveillance system" as part of a contract worth roughly USD200 million. "The award is subject to completion of the project contract and a project financing package: neither of which is guaranteed and is likely to take many months," SRT adds. The customer faces an "array of maritime domain challenges". "From smuggling and illegal border incursions to illegal fishing all of which are a material risk to economic and social development of the country. The SRT-MDA System being acquired will provide extensive maritime intelligence and insight which will enable the relevant marine agencies to adopt an intelligence led operations doctrine and assist in detecting, neutralising and deterring such events," SRT adds. "When active, this new contract will add to the existing active contract book of approximately GBP330 million which we are currently implementing for five sovereigns. We are pleased to take this opportunity to report that all are making steady progress in accordance with our contracted obligations, project plans, customer payment schedules and milestone deliverables."
----------
Begbies Traynor says it has made a "good start" to its new financial year, with first quarter trading in line with expectations. The financial advisory has seen "encouraging activity levels and positive momentum". Results for the first quarter to July 31 "were in line with our expectations, and overall, we are confident of delivering market expectations for the full year," Executive Chair Ric Traynor will say in the firm's annual general meeting on Thursday. Begbies puts market expectations at a range of GBP23.7 million to GBP24.9 million for adjusted pretax profit, and GBP163 million to GBP164 million for revenue.
----------
By Eric Cunha, Alliance News news editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
3i GroupBegbiesSrt Marine Sys.RenishawDominosC&C GroupNext