11th Aug 2025 07:50
(Alliance News) - Plus500 announced USD165.0 million of new shareholder returns, while Marshalls maintained its profit outlook, anticipating "no improvement in market activity levels" in the remainder of the year.
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 0.1% at 9,102.63
GBP: higher at USD1.3471 (USD1.3450 at previous London equities close)
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ECONOMICS
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Hiring activity fell further in July as the UK jobs market was weighed down by concerns over the economic outlook and increased labour costs, according to new figures. Growth in starting salaries also slowed to its lowest level for more than four years as firms tightened their recruitment budgets. The monthly KPMG and REC report on jobs showed a "further steep decline" in permanent staff appointment in July. The influential report showed a reading of 40.0 for permanent placements in the UK, improving slightly from 39.1 in June. However, any figure below 50 represents decline in the job market, with levels over 50 showing growth. The data therefore indicated another month of contraction.
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BROKER RATINGS
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JPMorgan cuts Elementis to 'neutral' (overweight) - price target 186 pence
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COMPANIES - FTSE 100
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GSK said its gepotidacin drug has been accepted for priority review in the US as an oral option for the treatment of a form of sexually transmitted infection gonorrhoea. GSK said the submission was supported by "positive" by phase three trial data. The US Food & Drug Administration said the drug has been accepted for priority review to treat uncomplicated urogenital gonorrhoea in patients aged 12 and older. "If approved, gepotidacin would offer a new oral option to US patients currently relying on injectable treatments," GSK said.
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Wealth manager St James's Place said it will launch a share buyback programme of GBP95.5 million. The programme kicks off on Monday and will conclude no later than the end of the year. "The sole purpose of the buy-back programme is to reduce the capital of the company," it said.
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COMPANIES - FTSE 250
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Trading platform operator Plus500 hailed "great progress" in the first half of 2025, and it expects full-year results in line with market expectations. Pretax profit in the first six months of 2025 faded 1.0% to USD181.8 million from USD183.7 million a year prior. Revenue, however, climbed 4.2% to USD415.1 million from USD398.2 million. Selling and marketing expenses rose 2.8% to USD168.8 million, administrative and general expenses rose 19% to USD63.9 million and financial expenses more than doubled to USD5.5 million from USD2.0 million. Chief Executive Officer David Zruia said: "In the first half of the year, the strength of Plus500's globally diversified multi-asset offering was again evidenced by our accelerated operational, financial and strategic results. We delivered great progress during H1 2025 in further diversifying our business and strengthening our operating model." Plus500 declared a USD0.4925 per share interim dividend, up 5.1% on-year from USD0.4686. In addition, it announced a special dividend of USD0.5628, up 5.9% from USD0.5314. In addition, it announced a USD90.0 million share buyback, meaning total shareholder returns unveiled on Monday amount to USD165.0 million. "The USD90.0 million share buyback programme includes an interim buyback programme of USD35.0 million and a special buyback programme of USD55.0 million. These programmes will commence following the completion of the current share buyback programme of USD110.0 million, which was announced and commenced on 18 February 2025," Plus500 adds. Looking ahead, it expects revenue and earnings before interest, tax, depreciation and amortisation in line with market expectations of USD746.2 million and USD345.2 million for 2025. Revenue in 2024 totalled USD768.3 million, and its Ebitda amounted to USD342.3 million. In the first half of 2025, the Ebitda edged up 0.7% to USD185.1 million.
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Marshalls reported an increase in half-year revenue, but its bottom line shrunk on a "less profitable product mix". The maker of landscaping products said pretax profit in the six months to June 30 fell 46% to GBP11.7 million from GBP21.5 million a year prior. Revenue increased 4.2% to GBP319.5 million from GBP306.7 million. Net operating costs were 8.5% higher at GBP301.4 million. "The group returned to revenue growth of four per cent in the first half of the year despite a subdued market. This performance reflects the benefits of our diversified portfolio, with Building & Roofing Products delivering good revenue and operating profit growth, and Landscaping Products reporting solid volume growth during the period although at lower profitability," CEO Matt Palmer said. Marshalls cut its interim dividend by 15% to 2.2 pence per share from 2.6p. Looking ahead, it said: "Mindful of continuing uncertainty in the macro-economic environment, the board currently sees no improvement in market activity levels through the remainder of 2025." It expects adjusted pretax profit for 2025 between GBP42 million and GBP46 million. Adjusted pretax profit in the first half fell 17% to GBP22.0 million.
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OTHER COMPANIES
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Advertising agency S4 Capital said it has received a combination proposal from MSQ Partners, with talks between the duo "at a very preliminary stage". In response to a press report, the firm said a deal, if agreed, would be structured as a buyout of MSQ by S4. MSQ is majority owned by One Equity Partners. Sky News on Saturday reported S4 Executive Chair Martin Sorrell has been contacted by various parties over merger proposals, including private equity firm One Equity Partners. Sky News reported S4 has attracted interest elsewhere, but the identities of those potential suitors could not be immediately established.
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By Eric Cunha, Alliance News news editor
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Related Shares:
ElementisGlaxosmithklineSt James's PlacePlus500MarshallsS4 Cap.