26th Nov 2025 07:54
(Alliance News) - Intertek buys a US provider of testing services for the flooring industry, Pets At Home interim earnings drop while the founder of Judges Scientific is moving from CEO to non-executive chair.
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 0.3% at 9,639.03
GBP: down at USD1.3171 (USD1.3183 at previous London equities close)
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BROKER RATINGS
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UBS cuts Shell to 'neutral' (buy)
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Berenberg starts Genus with 'buy' - price target 3,050 pence
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COMPANIES - FTSE 100
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Intertek buys US-based Professional Testing Laboratory, a provider of testing services for the flooring industry. The London-based provider of assurance, testing, inspection and certification services says PTL is the market leader in testing services for the US flooring market, and adds that the acquisition is complementary to its total quality assurance business in North America. PTL operates from a 30,000 square foot laboratory in Dalton, Georgia and generated revenue of GBP4.3 million in 2024. "The acquisition of PTL is highly complementary to Intertek's comprehensive range of product-related testing and certification capabilities in North America and across the globe, strengthening our presence in an attractive, high-growth, high-margin flooring materials market with compelling growth drivers," says Intertek Chief Executive Officer Andre Lacroix.
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COMPANIES - FTSE 250
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Pets At Home maintains its interim dividend but reports lower earnings for the first half of the financial year amid ongoing softness in the UK pet retail market. The Cheshire, England-based pet product retailer says pretax profit falls 29% to GBP36.2 million in the 28 weeks to October 9, down from GBP51.1 million a year ago. Revenue declines 1.3% to GBP778.3 million from GBP789.0 million. Pets At Home maintains an interim dividend of 4.7 pence per share. It says underlying pretax profit is down 34% to GBP36.2 million from GBP54.5 million. The firm confirms its full year guidance for underlying pretax profit of between GBP90 million and GBP100 million. The company notes that its guidance for underlying pretax profit had been reduced in September. It says trading in the Vet group remains in line with expectations, but slower than the medium-term ambition of "high-single digit" this year. It says Retail performance is "improving sequentially" but remains behind a flat market with no inflation. Its adds that the pet insurance business is on track to launch in 2026. It now expects a financial 2026 loss from the pet insurance business of around GBP5 million, up from GBP3 million. Pets At Home adds that its search for a new chief executive officer continues to progress. "I've spent time visiting over 100 pet care centres and engaging with colleagues at all levels of the business to establish where the challenges are isolated, resulting in the implementation of a retail turnaround plan with four clear priorities of product, price, execution and cost. We are returning to our retailing roots to stabilise and rebuild momentum in our Retail business, and to lay the foundations for a new CEO in due course," says Interim Executive Chair Ian Burke.
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Elementis completes the acquisition of Alchemy Ingredients for an enterprise value of USD22 million. The London-based chemicals maker says Alchemy develops sustainable rheology modifier ingredients for the personal care industry. It says the firm has a "track record of strong organic growth" with financial 2025 revenue expected to reach more than USD6 million with "attractive" margins. "We are delighted to announce the successful completion of this high quality bolt-on acquisition, which is right in our personal care sweet spot and strengthens our position in the growing natural skincare market. The business opens exciting opportunities to expand our skincare portfolio, where the trend toward natural ingredients and enhanced sensory benefits continues to accelerate," says Elementis Chief Executive Officer Luc van Ravenstein.
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OTHER COMPANIES
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Auction Technology swings to a loss due to impairment charges, but revenue rises. The London-based auction market operator reports revenue of USD190.2 million for the 12 months to the end of September, up 9.2% from USD174.1 million a year ago. It swings to a pretax loss of USD145.8 million from a profit of USD18.4 million. It notes an impairment of goodwill worth USD150.9 million, compared to none a year ago. Adjusted earnings before interest, tax, depreciation and amortisation falls 4.0% to USD76.8 million from USD80.0 million. For financial 2026, it expects to perform in line with market expectations. The firm sees revenue growth between 4% and 5%, at constant currency and pro-forma for the consolidation of Chairish. It says revenue growth will be more weighted to the first half of the year. "We are confident in our ability to execute against strategic initiatives and, at the same time, we understand that we must, and will, deliver on our commitments to the market. We believe we have the ability to do both and will also improve the clarity with which we communicate what we see as an exciting plan to deliver value to sellers, to buyers, and to ATG shareholders," says Chief Executive Officer John-Paul Savant.
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Judges Scientific says Founder David Cicurel will step down as chief executive officer to become non-executive chair from February 9, 2026. The London-based buyer and builder of companies in scientific instrument sector promotes Business Development Director Tim Prestidge to CEO. Prestidge joined Judges Scientific in February 2023, after previously holding senior leadership roles at Halma. The firm says the proposal for Cicurel to become non-executive chair was confirmed after consultation with a number of its largest shareholders. Current Non-Executive Chair Ralph Elman will become non-executive deputy chair. "The orchestration of succession is not a short-term activity, and the time to implement a transition is when one has the confidence that the new leadership generation is in place, has the required competence to deliver growth in shareholder value, and has internalised the Judges values which have made our group successful," says Cicurel. "Whilst choosing the perfect timing is never easy, particularly given the present trading environment and the company's recent results, we have been preparing for this transition for several years, and I am delighted that Tim will be taking over the reins. Tim is highly intelligent, focused, hardworking, and has invaluable experience in our sector. I firmly believe that he is the right person to lead Judges going forward."
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By Michael Hennessey, Alliance News reporter
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ShellGenusIntertek GroupPets at homeElementisAuction Technology GroupJudges Scientific