8th Sep 2025 07:47
(Alliance News) - Phoenix Group unveils a name change, bringing the Standard Life brand back in the forefront, Domino's Pizza announces a new brand and Vistry reports a government tie-up.
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 9,237.71
GBP: lower at USD1.3509 (USD1.3527 at previous London equities close)
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ECONOMICS
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London Underground lines were suspended on Monday as workers went on strike, causing travel disruption for commuters. Members of the Rail, Maritime & Transport union including drivers, signallers and maintenance workers launched a series of strikes over pay and conditions. The action started on Sunday but the biggest impact will be between Monday and Friday. Transport for London warned there will be few or no services between Monday and Thursday. Picket lines were mounted outside Tube stations on Monday. There will also be no Docklands Light Railway services on Tuesday and Thursday because of a strike by RMT members in a separate pay dispute. TfL has offered a 3.4% pay rise which it described as "fair" and said it cannot afford to meet the RMT's demand for a cut in the working week.
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The Irish presidential race is expected to gather pace this week as local authorities hear pitches from candidate hopefuls and big parties set out their election stalls. Polling day has been confirmed as Friday October 24 and nominations for candidates will close a month before that. With seven weeks to go before votes are cast, there are just two confirmed candidates in the race. Fianna Fail is expected to confirmed the third on Tuesday when it hosts a head-to-head between a popular Cork parliamentarian and a Dublin sporting hero. Former Dublin football manager and retired army officer Jim Gavin has the public backing of senior party figures, while MEP and former junior minister Billy Kelleher appears to have more of a battle ahead of him. The parliamentary party will vote for its preferred candidate by secret ballot, possibly offering an element of drama. To run as a presidential candidate, a person must be an Irish citizen over the age of 35 and nominated by either 20 Irish parliamentarians or by four local authorities.
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BROKER RATINGS
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Citigroup raises Marks & Spencer to 'buy' - price target 440 pence
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COMPANIES - FTSE 100
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Retirement savings firm Phoenix Group lifts its payout, hails a "strong first half performance" and announces a name change. It swung to a pretax profit of GBP8 million in the first half of 2025, from a loss of GBP669 million a year prior, Phoenix says. Total income declines 30% to GBP8.60 billion from GBP12.33 billion. Adjusted operating profit shot up 25% to GBP451 million from GBP360 million, while operating cash generation improved 9% to GBP705 million from GBP647 million, the company adds. Phoenix lifts its interim dividend by 2.6% to 27.35 pence per share from 26.65p. "This is a strong first half performance with progress against all key financial metrics we use to drive the business, demonstrating continued momentum towards our 2026 targets. We are increasingly well placed to serve our customers' retirement needs and create further customer and shareholder value as we fulfil our vision to become the UK's leading retirement savings and income business," Chief Executive Officer Andy Briggs comments. In addition, the firm announces it plans to change its name to Standard Life PLC in March. "Changing our name from Phoenix Group Holdings PLC to Standard Life PLC in March 2026 brings our most trusted brand to the forefront and demonstrates our commitment to helping customers secure a better retirement," the CEO says. Looking ahead, it expects mid-single digit growth in operating cash generation for the full-year. Further afield, it predicts GBP1.1 billion in adjusted operating profit in 2026.
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COMPANIES - FTSE 250
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Domino's Pizza Group reports it has launched a new "chicken sub-brand", hailing this a "bold new chapter". The Milton Keynes, England-based master franchise holder in the UK and Ireland for pizza delivery firm Domino's Pizza Inc reports that Chick 'N' Dip will be trialled in 187 Domino's stores in the northwest of England and Northern Ireland. The brand is "designed to capture a share of one of the fastest growing markets in casual dining".
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Housebuilder Vistry has formed a long-term investment joint venture with Homes England, the UK government's housing and regeneration agency. The tie-up aims to "accelerate the development of large-scale residential sites across England". "The joint venture, named Hestia, is backed by GBP150 million of capital investment by Homes England and Vistry and is designed to deliver high-quality, mixed-tenure communities at pace and scale," Vistry says. "Hestia will focus on the acquisition and development of strategic sites, each ranging from 400 to 3,000 homes, and will incorporate vital new infrastructure to support thriving communities. In addition, the joint venture will seek to sell parcels of land on our larger sites to SME developers, reflecting both organisations' commitment to supporting the wider housing sector and enabling greater market participation."
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OTHER COMPANIES
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Extracts and ingredients manufacturer Treatt reports it has agreed to a GBP156.6 million takeover from Natara. Natara is a maker of "aroma ingredients products" and serves the flavour and fragrance industry and its majority owner is Exponent, a UK and European private equity firm. Both Natara and Exponent "have been following Treatt for some time and have long admired the business and its strong heritage", a statement says. Natara will pay 260p cash per Treatt share, a 16% premium to its closing price of 224p on Friday. The sum values the entire issued and to be issued ordinary share capital of Treatt at approximately GBP156.6 million. "While the Treatt directors recognise that improvements in market dynamics and Treatt's execution of its evolving strategy should support a recovery in Treatt's operating and financial performance, they also acknowledge that this could take some time and remains subject to significant uncertainty as to the external factors affecting Treatt's business and the delivery of internal systems and organisational improvements," a statement says.
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IQE, a supplier of advanced wafer products for the semiconductor industry, says it is widening its strategic review to "incorporate the potential sale of the company". IQE says it is now "seeking buyers". The firm started a strategic review in November. "While the strategic review process remains ongoing, IQE is progressing negotiations with multiple parties for the sale of the group's Taiwan operations. Should the sale of Taiwan be concluded, it is expected that the proceeds from such sale will be used to fully repay the group's revolving credit facility with HSBC Bank and convertible loan notes issued in March 2025, as well as providing IQE with cash to invest in its core operations," IQE adds. IQE reports that it is still seeing "weakness in wireless markets". "In addition, delays to federal funding cycles in US military and defence sectors are resulting in the deferral of orders into 2026," it reports. As a result, it sees 2025 revenue between GBP90.0 million and GBP100.0 million. This will result in an adjusted earnings before interest, tax, depreciation and amortisation outcome ranging from a GBP5.0 million loss and GBP2.0 million profit. In 2024, revenue totalled GBP118.0 million and its adjusted Ebitda amounted to GBP8.1 million. For the first half alone, it predicts revenue of GBP44.0 million and an adjusted Ebitda loss of GBP400,000, weakening from revenue of GBP66.0 million an adjusted Ebitda of GBP6.6 million reported a year earlier. IQE releases half-year results on September 23.
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The owner of at-home beauty technology operator Beauty Tech Group is mulling an initial public offering on London's Main Market. Project Glow Topco says an IPO will "enable us to raise awareness and incentivise staff to take the business to the next level". Independent Non-Executive Chair Elaine O'Donnell adds: "I have every confidence that a London-listing, coupled with a solid go-to market strategy, will support The Beauty Tech Group's ambition to grow its distribution while continuing to deliver the next generation of beauty technology products through ongoing research and development." The firm operates the CurrentBody Skin, ZIIP Beauty and Tria Laser brands. These brands offer at-home beauty devices "using aesthetic technologies which have been used in professional clinics for decades". "The group operates in the global AHBD market, which has an estimated value of approximately GBP9 billion - GBP12 billion and is growing rapidly within the GBP464 billion global beauty and personal care market," it adds.
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By Eric Cunha, Alliance News news editor
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Related Shares:
Marks & SpencerPhoenix Group HoldingsDominosVistry GrpTreattIQE