24th Feb 2026 07:55
(Alliance News) - Standard Chartered reports a new share buyback but its profit was below consensus, while Croda International hails "early progress".
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 just 1.5 points at 10,686.24
GBP: lower at USD1.3482 (USD1.3505 at previous London equities close)
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ECONOMICS
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Fresh US tariffs on imported goods came into effect Tuesday, as President Donald Trump moved to rebuild his trade agenda after the Supreme Court ruled against a swath of his global duties. The new tariffs, initially set at 10%, are justified as a means "to deal with the large and serious US balance-of-payments deficits," according to a White House released Friday. Trump has since vowed to raise this level to 15%, with exclusions expected to remain for goods covered by sector-specific investigations and the US-Mexico-Canada trade pact. The US president has doubled down on imposing tariffs on trading partners since the high court on Friday struck down many of his sweeping and often arbitrary duties, in a rebuke of his signature economic policy. His sector-specific tariffs on goods like steel and autos remain intact, but the ruling sets the stage for a complex fight for refunds elsewhere.
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BROKER RATINGS
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Barclays cuts Rio Tinto to 'equal weight' - price target 6,600 (6,885) pence
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COMPANIES - FTSE 100
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Standard Chartered says annual and fourth quarter profit increased, though it fell short of consensus, and the lender announces a buyback. Fourth quarter pretax profit edged up 1.8% to USD814 million from USD800 million a year prior, falling short of company-compiled consensus of USD1.06 billion. Reported operating income edged up 2.6% on-year in the final quarter to USD4.93 billion from USD4.80 billion, it says. For the whole of 2025, pretax profit shot up 16% to USD6.96 billion from USD6.01 billion, but was shy of consensus of USD7.21 billion. Operating income rose 7.2% from USD20.94 billion from USD19.54 billion. "2025 was another year of strong momentum. We achieved an underlying return on tangible equity of 14.7%, exceeding our three-year plan a full year early. We have made a good start to the year and continue to benefit from a supportive business environment. We are seeing robust growth in our larger markets, and structural shifts in global trade and investment play to our distinctive strengths serving our clients' cross-border and affluent banking needs," Chief Executive Bill Winters says. StanChart says it has declared a 49 cents per share final dividend, up 75% from 28 cents a year prior. It made for an annual dividend of 61 cents, up 65% from 37 cents. In addition, it announces a USD1.5 billion share buyback, which kicks off immediately.
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Croda International reports a rise in 2025 sales but a decline in profit amid an "uncertain trading environment". The Yorkshire-based speciality chemicals maker says pretax profit in 2025 fell 56% to GBP91.0 million from GBP207.8 million, though sales rose 4.4% to GBP1.70 billion from GBP1.63 billion. Sales beat company-compiled consensus of GBP1.68 billion. Adjusted pretax profit improved 8.4% to GBP276.2 million from GBP260.0 million, ahead of consensus of GBP267.8 million. "I am encouraged by the early progress we have made in 2025 delivering on our plan to grow earnings and improve returns in an uncertain trading environment. Our differentiated business model and higher-growth portfolio have underpinned progress with Consumer Care and Life Sciences both growing sales, adjusted margins and profits. Our efforts to drive more consistent growth and transform the business are beginning to deliver results and whilst there is much more to do, our confidence in realising further improvements in performance is highlighted by the three-year financial framework we have set out today," CEO Steve Foots says. For the period to 2028, it expects compound annual growth in revenue between 3% and 6% and an adjusted operating margin that tops 20%, compared to 17.4% in 2025. Its adjusted operating margin improved from 17.2% in 2024. For 2026 alone, it expects organic sales growth within its outlook range."A further increase in group adjusted operating margin driven by improving profitability in Consumer Care and Life Sciences and the benefits of our transformation programme. Group full year 2026 adjusted operating profit in line with current market expectations1 at constant currency," Croda says. Croda says it has upped its full year dividend by 0.9% to 111 pence from 110p.
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COMPANIES - FTSE 250
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Unite Group reported a decline in net assets in 2025, but lifted its dividend and says it is "making early progress and building momentum". The firm also announced the disposal of a 571-bed property in London, to the Unite UK Student Accommodation Fund, netting GBP126 million of the GBP186 million sale price. The student accommodation firm says IFRS net assets per share declined 1.6% to 966p at December 31 from 982p a year prior. EPRA net tangible assets per share fell 1.7% to 955p from 972p. Pretax profit slumped 78% to GBP97.6 million from GBP444.0 million, as it reported GBP73.7 million worth of valuation losses, compared to a GBP239.6 million gain in 2024. Rental income improved 7.6% to GBP428.2 million from GBP398.0 million. "Unite Students delivered a robust performance in 2025, with strong trading across the majority of our portfolio offset by weaker demand in a small number of cities for the 2025/26 academic year. Growing domestic demand for higher education, improving international mobility and constrained housing supply underpin the long-term prospects for the sector. Students continue to place high value on the residential university experience, supporting sustained demand for the high‑quality accommodation and living experience that we provide," CEO Joe Lister says. "While there is much to do, we are making early progress and building momentum. Delivering the benefits from our plan, together with the Empiric acquisition, provides a strong platform for 2027 and beyond." Unite maintains its final dividend at 24.9p per share, taking the annual payout to 37.7p, up 1.1% from 37.3p. It adds: "The company intends to maintain a stable dividend payout in 2026, distributing 37.7p for the financial year, balancing confidence in the medium-term outlook with the expected reduction in adjusted earnings per share for the year ahead." It sees 2026 adjusted EPS between 41.5 and 43.0p, down from 47.5p in 2025, which had represented 1.9% growth from 46.6p in 2024. In addition, Unite Group notes Unite Students has agreed the sale of St Pancras Way, a 571-bed property in London, to the Unite UK Student Accommodation Fund for GBP186 million. Unite Group's share is GBP126 million. It adds: "The transaction will be funded by existing cash headroom in USAF and the issue of new USAF units, to be fully underwritten by Unite. Subject to existing USAF investors choosing to exercise their pre-emption rights, the USAF equity issue will increase Unite's ownership in USAF from 30% to a maximum of 32% and Unite expects to receive minimum net proceeds of GBP115 million in cash. Unite intends to maintain its ownership in USAF at around 30% over the medium-term."
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OTHER COMPANIES
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essensys says it has agreed to a GBP11.3 million cash takeover by a company backed by its Mark Furness, its non-executive director and founder. Newly-incorporated essensys Bidco Ltd will 17p per share for the company, a 9.7% premium to its 15.5p share price on November 27, the day before the London-based provider of software and technology to landlords and flexible workspace operators revealed it was in talks for a possible takeover. essensys Bidco is backed by Furness and members of a concert party who in total hold just under 37% of the shares in the London listing. The bid has received the support of just 57% of essensys shareholders. "essensys has built a leading position supporting the global flexible workspace sector through its differentiated technology platform and continued product innovation and the essensys board remains confident in the essensys group's long-term strategic opportunity," essensys Chair Jon Lee says. "The essensys independent directors have considered a range of options for essensys's future, in particular both the execution risks and capital requirements associated with delivering the next phase of growth in a public market environment. We believe that the cash offer provides essensys shareholders with a certain value today, while also recognising the strategic merits of the company operating in a private setting. It is our view that private ownership will provide essensys with greater flexibility to focus on long-term strategic priorities, customer delivery and product innovation, without the short-term pressures and reporting requirements associated with being admitted to trading on AIM."
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By Eric Cunha, Alliance News news editor
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Related Shares:
Croda InternationalStandard CharteredUniteRio TintoEssensys