10th Aug 2026 07:55
(Alliance News) - Plus500 reports improved half-year earnings and sets out a buyback and increased dividend, Serica Energy has backed out of the rate to acquire Pharos Energy, while Nichols has unveiled a deal of its own.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called down 0.4% at 10,856.89
GBP: lower at USD1.3495 (USD1.3498 at previous London equities close)
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BROKER RATINGS
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Citigroup cuts Legal & General to 'sell' (neutral) - price target 241 (251) pence
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COMPANIES - FTSE 250
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Trading platform operator Plus500 says it achieved a "record" half-year and it sets out a new USD100.0 million buyback. In addition, it lifts its interim dividend by 4.3% to USD0.5135 from USD0.4925 and announces a USD0.6866 special payout, up 22% from USD0.5628 a year earlier. "Today's announcement of USD182.5 million of further shareholder returns is consistent with Plus500's disciplined capital allocation framework and reflects the group's record H1 2026 financial performance, highly cash-generative business model and robust, debt-free balance sheet with cash balances of over USD860 million," the firm says. Pretax profit in the first half of 2026 rises 0.8% to USD183.2 million from USD181.8 million a year prior, with revenue up 12% to USD462.9 million from USD415.1 million. Chief Executive Officer David Zruia says: "H1 2026 was an outstanding period for Plus500. We delivered record results for a six-month period, reflecting the compounding quality and value of our customer base." Customer income is up 24% year-on-year to USD460.8 million, "marking a five-year record high for a six-month period". Trading income, its largest revenue driver, climbs 15% to USD441.8 million. It expects 2026 results in line with current market expectations "following several upgrades earlier this year". It puts revenue consensus at USD811.5 million, and the earnings before interest, tax, depreciation and amortisation forecast at USD365.1 million.
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OTHER COMPANIES
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Offshore oil and gas producer in UK continental shelf Serica Energy says it will not lift its offer for Pharos Energy, with its bid remaining below Ratio Petroleum's GBP146.4 million tilt, as it "retains a highly disciplined approach to M&A". Serica's offer, at 32.6683 pence per share and comprises 28.6683p in cash and a 4.0p dividend, values Pharos as a whole at GBP145.7 million. Pharos Energy, which has assets in Vietnam and Egypt, on Friday withdrew its support for a takeover by Serica Energy and backed a new Ratio Petroleum offer. The recommended takeover offer by Tel Aviv-based Ratio Petroleum values Pharos Energy at GBP146.4 million. "Serica continues to rigorously evaluate a pipeline of opportunities, both in the UK North Sea and other areas in which the company can successfully deliver its strategy," Serica says.
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Marshalls reports a rise in interim profit and maintains its annual outlook, with the building products manufacturer seeing "no material market recovery" in the offing in the second half. Pretax profit in the first half of 2026 climbs 68% to GBP19.7 million from GBP11.7 million, with revenue down 0.5% to GBP317.8 million from GBP319.5 million, amid "subdued end markets". Chief Executive Officer Simon Bourne says: "This reflects our reinvigorated focus on sharper execution, continued financial discipline and the benefits of actions taken through FY25 to create a leaner and more focused operating platform." Net operating costs are 3.0% lower at GBP292.3 million from GBP301.4 million. Bourne adds: "We remain focused on what we can control: service, cost, cash, working capital and disciplined capital allocation. We are not factoring a material market recovery into our second half assumptions, and the operational progress delivered to date, together with the strength of our diversified portfolio, supports the board's confidence in the group's outlook for the full year and our medium-term growth potential." Revenue in 2025 totalled USD792.4 million and the Ebitda USD348.1 million.
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Vimto owner Nichols has forked out EUR75.0 million in cash to acquire drinks brand VitHit. VitHit's products include low-calorie, low-sugar beverages which offer all of the recommended daily allowance of 8 essential vitamins. Nichols expects the deal to be immediately earnings enhancing. "VitHit is an excellent strategic fit for Nichols given its leading market positions in a structurally attractive soft drinks sub-category, complementary asset-light operating model, established profitability and significant growth opportunities," Nichols says. VitHit achieved revenue of EUR26.5 million in 2025 and pretax profit of EUR3.6 million.
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Pensana says its boss Tim George was "one of the few international mining executives" present at a private briefing with President Donald Trump and Secretary of State Marco Rubio, as the US administration pledges investing USD3 billion in critical minerals assets. The meeting "outlined the administration's support for establishing independent US supply chains for rare earths and other critical minerals," the developer of the Longonjo project in Angola says.
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By Eric Cunha, Alliance News news editor
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Related Shares:
Legal & GeneralMarshallsSerica EnergyPlus500Pharos EnergyPensana