27th Oct 2026 07:54
(Alliance News) - Severn Trent's chief financial officer Helen Miles is set to leave the water utility to join housebuilder Vistry, while Informa lowers its full-year revenue growth outlook following further disruption in Saudi Arabia. Reckitt Benckiser adjusts its annual revenue growth guidance amid manufacturing constraints and slower demand in China.
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called lower 0.6% at 7,611.87
GBP: lower at USD1.3328 (USD1.3353 at previous London equities close)
----------
ECONOMICS
----------
The UK government plans to end the Carer's Allowance earnings cliff edge as part of a cost-of-living package ahead of Wednesday's Budget. Chancellor John Healey is expected to replace the current system, under which unpaid carers lose their entitlement if they exceed an earnings threshold, with a taper reducing benefits by GBP1 for every additional pound earned. Ministers also plan to make a higher tax-free mileage allowance of 55 pence permanent, cut tariffs on foods including chocolate and beans, and extend parental pay to more than 150,000 parents annually. Separately, the national living wage is expected to rise nearly 4.0% to GBP13.20 from GBP12.71, according to the Times, while the Sun reports that fuel duty will remain frozen at 52p per litre. Prime Minister Andy Burnham says the Budget will provide further support for households and businesses facing high living costs.
----------
BROKER RATINGS
----------
Deutsche Bank Research raises Antofagasta to 'hold' (sell) - price target 3,300 (3,600) pence
----------
Berenberg raises Computacenter price target to 6,750 (6,500) pence - 'buy'
----------
COMPANIES - FTSE 100
----------
Reckitt Benckiser adjusts its full-year 2026 like-for-like revenue growth guidance for its core business to 3.5% to 4.5%, reflecting manufacturing constraints affecting Lysol in North America and slower growth in China's vitamins, minerals and supplements market. The consumer goods group reports third-quarter net revenue of GBP3.36 billion, down 6.9% on a reported basis but up 3.2% like-for-like, with the reported decline primarily reflecting the disposal of its Essential Home business. Core Reckitt revenue rises 3.3% to GBP2.69 billion, driven by 8.0% like-for-like growth in emerging markets, while Europe returns to growth with a 0.8% increase. North American revenue falls 1.3% like-for-like, although Reckitt expects a fourth-quarter recovery as Lysol manufacturing constraints ease. Mead Johnson Nutrition revenue rises 2.7% like-for-like to GBP549 million. Reckitt maintains its full-year adjusted operating profit margin guidance of 24.9% to 25.6% for Core Reckitt and Mead Johnson Nutrition combined, and reiterates its medium-term target of 4.0% to 5.0% annual like-for-like revenue growth for its core business. The company has completed GBP90 million of its GBP500 million share buyback programme as of October 23.
----------
Severn Trent says Chief Financial Officer Helen Miles is stepping down to become CFO of housebuilder Vistry Group, which expects her to join during 2027. The water utility has begun a formal search for her successor, while Miles will remain in her role throughout her 12-month notice period to ensure an orderly transition. Miles has spent 12 years at Severn Trent and has served as CFO since July 2023. Meanwhile, Vistry appoints Robert Allen as interim CFO and board director with immediate effect, pending Miles's arrival.
----------
Informa reports underlying revenue growth of 6.5% in the nine months to September 30, excluding non-recurring data contracts, driven by an 8.0% increase in its business-to-business live events division. Academic Markets revenue rises 4.0%, while Informa TechTarget revenue falls 1.6%. The events organiser maintains its guidance for double-digit underlying earnings growth in 2026 despite disruption in the Middle East, but says full-year underlying revenue growth is now tracking towards around 3.0%, down from its previous expectation of around 6.0%, assuming no further contribution from Saudi Arabia this year. The revised outlook follows further event rescheduling in the country, including Cityscape Global and the Global Health Exhibition. Informa also expects to complete its acquisition of Clarion Events in the first two weeks of December, adding more than 100 business-to-business event brands to its portfolio. Chief Executive Stephen Carter says: "Strong underlying demand for B2B Live Events, combined with the strength of our Brands and operating flexibility, is enabling us to deliver consistent growth and performance, and our international breadth is limiting the impact of specific in-market disruptions."
----------
Rentokil Initial launches a share buyback programme worth up to USD200 million, with purchases beginning immediately and ending no later than February 24, 2027. The pest control company appoints Goldman Sachs International to conduct the programme, which aims to reduce its issued share capital and meet obligations under employee share schemes.
----------
COMPANIES - FTSE 250
----------
NCC Group expects full-year 2026 revenue to meet market expectations and adjusted Ebitda to beat forecasts, as it appoints Chief Financial Officer Guy Ellis as chief executive officer with immediate effect, succeeding Mike Maddison. The cybersecurity company expects revenue from its core Cyber business to rise 3.7% on a constant currency basis to around GBP235 million from GBP227.4 million a year earlier, excluding non-core disposals. Adjusted Ebitda is expected at GBP16.3 million, representing a margin of 6.9%, while gross margin improves to a record 38.4%. Including the disposed Escode business, group revenue is expected at around GBP280 million and adjusted Ebitda at GBP36.0 million. Net cash is expected to reach approximately GBP53 million at September 30. NCC maintains its financial expectations for the year ending September 2027. Group Financial Director Andy Beaver becomes interim CFO following Ellis's appointment. Chair Chris Stone says: "Over the past four and a half years, Mike and the executive team have transformed NCC into a focused and strategically positioned cyber security business. The successful disposal of Escode, the strengthening of our balance sheet and the substantial return of capital to shareholders have created a strong platform for future growth. After delivering our planned transformation, Mike is stepping down as CEO...As the group moves forward, the board concluded, following an internal and external process, that Guy is the right person to lead NCC through this next chapter."
----------
Pennon Group receives valid acceptances for 94% of its GBP550 million fully underwritten rights issue, comprising 207.5 million new shares. The water utility launched the seven-for-15 rights issue at 250 pence per share on October 7, offering a total of 220.3 million new shares. Underwriters Barclays Bank PLC and Morgan Stanley & Co will seek subscribers for the remaining 12.7 million shares, or subscribe for any shares not placed. The new shares are expected to begin trading on the London Stock Exchange on Tuesday.
----------
OTHER COMPANIES
----------
RWS Holdings expects adjusted pretax profit for the year ended September 30 to rise around 9.0%, in line with market expectations, as the artificial intelligence solutions provider returns to revenue growth. Reported revenue is expected to increase 2.0% to approximately GBP700 million, with organic constant currency growth of 3.0%, compared with a 0.7% decline a year earlier. Adjusted pretax profit margin improves to around 9.4% from 8.8%, while net debt stands at approximately GBP38 million at September 30, up from GBP32.5 million at March 31. The Generate division delivers double-digit organic revenue growth, while Protect grows by a mid-single-digit percentage and Transform declines by a similar amount. RWS also expects to complete its acquisition of Acolad within the next two weeks, having secured the necessary French regulatory and works council clearances.
----------
Shoe Zone expects to swing to an adjusted pretax loss of around GBP1.0 million for the 53 weeks ended October 3, from a profit of GBP2.4 million a year earlier, in line with management expectations. The footwear retailer reports revenue down 4.5% to GBP142.4 million from GBP149.1 million, reflecting weaker consumer confidence and a reduction in its store estate to 251 from 269. Product margin improves to 63.1% from 61.0%, while net cash rises to GBP15.1 million from GBP5.9 million. Shoe Zone expects to pay no final dividend and remains cautious about the near-term outlook, warning that trading conditions remain subdued following a slower-than-expected start to the autumn and winter season. The company also flags rising container and fuel prices, alongside a weaker pound against the dollar, as potential pressures on future margins. Chair Charles Smith says: "This was a challenging year, particularly in the first half, as consumer confidence continued to be weak, and fell further following the government's November 2025 budget, with persistent inflation, higher interest rates remaining elevated and reduced levels of disposable income all contributing to a generally negative economic and consumer sentiment in the UK. Sales were good when there was a clear reason to buy, such as the warm summer and the back-to-school season. However, overall discretionary spending remains subdued as consumers exercise greater caution in their expenditure."
----------
By Eva Castanedo, Alliance News senior economics reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Vistry GrpBarclaysSevern TrentReckittInformaRentokil InitialNccPennonRWS HoldingsShoe ZoneComputacenterAntofagasta