11th Sep 2025 07:53
(Alliance News) - Trainline reports a strong first half and announces a GBP150.0 million share buyback, Fevertree's profit falls but it lifts its dividend, while THG says it Beauty and Nutrition units will see second half growth.
Here is what you need to know before the London market open:
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MARKETS
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FTSE 100: called 0.2% at 9,247.99
GBP: lower at USD1.3518 (USD1.3548 at previous London equities close)
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BROKER RATINGS
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Jefferies cuts Ashtead Group to 'hold' (buy) - price target 5,700 (5,900) pence
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COMPANIES - FTSE 250
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Trainline reports it saw a "robust" performance in its first half and the rail ticket selling platform announces a GBP150.0 million buyback. For the six months to August 31, Trainline's revenue increased around 2.6% to GBP235 million from GBP229 million, the firm says in a trading statement. Net ticket sales were 8.3% higher at GBP3.25 billion from GBP3.00 billion, it adds. "Rail liberalisation in Europe continues to demonstrate the value Trainline brings as the preeminent domestic aggregator, most recently in Southeast France where increased carrier competition between Paris, Lyon and Marseille has driven Q2 sales growth of 34%. At the same time, Trainline Solutions has become a GBP1 billion sales business as we help more clients of all sizes, from SMEs to the world's largest travel management companies, ramp up business travel sales across Europe," Chief Executive Officer Jody Ford says. Looking ahead, Trainline expects adjusted earnings before interest, tax, depreciation and amortisation "to track above the top end" of its full-year growth guidance range of 6% to 9%. It affirms its revenue and net ticket sales growth expectations. It still expects a revenue outcome ranging from flat to a 3% rise, and net ticket sales growth between 6% and 9%. Trainline announces that once its current share buyback ends, it will "launch an enhanced repurchase programme" worth GBP150.0 million. "It would imply GBP350 million of shares being bought back and cancelled over a three-year period," it adds. Trainline reports half-year results on November 5.
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Energean reports its half-year earnings have been hit by shutdowns and a weaker Brent price. In the six months to June 30, pretax profit fell 0.5% to USD174.1 million from USD175.0 million a year prior, the exploration and production company says. Revenue declined 7.2% to USD803.8 million from USD866.6 million. It notes that net profit increased, however. Post-tax profit was up by around a quarter to USD110.5 million. "Our business has remained resilient, despite the external geopolitical and market pressures, underpinned by disciplined capital management and cost control, a clear focus on long-term value creation and delivery of operational excellence," Chief Executive Officer Mathios Rigas says. "Despite the temporary suspension of operations in Israel for two weeks during the peak summer months, as ordered by the Ministry due to geopolitical factors, net profit increased during the period and we are therefore pleased to declare our regular quarterly dividend today." Energean says it has maintained its total half-year dividend at USD0.60 per share.
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OTHER COMPANIES
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Fevertree Drinks says it has lifted its half-year dividend and reports a "good start to the second half of the year". Pretax profit in the first six months of 2025 was down 15% to GBP11.2 million from GBP13.2 million, on revenue which fell 17% to GBP144.3 million from GBP172.9 million, the firm reports. "In the UK, the wider On-Trade category continues to face challenges, but our Off-Trade performance has remained robust. Importantly, more than half of the 3.6 million UK households that buy Fever-Tree are now also purchasing products from our broader portfolio such as our Ginger Beer or premium soft drinks, a clear sign that our diversification strategy is resonating with consumers and broadening the occasions in which our brand is enjoyed," CEO Tim Warrillow says. "Together with the operational progress we are making and the strong performance we have seen over the summer months, we are well placed for both the second half of the year and to capture the long-term opportunities ahead." Fevertree lifted its half-year dividend to 5.97p per share from 5.85p. Looking ahead, it says: "The group has made a good start to the second half of the year across our regions and we remain comfortable with full year market expectations."
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THG reports weaker interim earnings but the e-commerce firm says it has "gained momentum throughout the first half". THG's pretax loss in the first half of 2025 widened to GBP66.7 million from GBP56.4 million, it says. Revenue weakened 7.6% to GBP783.4 million from GBP848.1 million. The firm has undergone some changes recently, which leave it well-placed to move to a net cash footing, it adds. "The successful THG Ingenuity demerger at the start of H1 alongside the Q3 disposal of Claremont Ingredients to Nactarome Group for GBP103 million, puts the group on an accelerated path towards a net cash position, with the H1 2025 refinancing securing long-term committed facilities," THG says. "Trading momentum from Q2 into Q3 continues to build positively, with the strategic model changes implemented across both THG Beauty and THG Nutrition throughout 2024 now bearing results. This momentum underpins confidence in full year and medium-term outlook." For the second half, THG Beauty is expected to see revenue growth of 1.0% to 3.0%, improving from a 5.9% decline in the first. A THG Nutrition revenue surge between 10% and 12% is predicted, picking up speed from a 3.1% rise in the first half. THG says: "As we now enter peak trading, THG Beauty has returned to growth, helped in part by annualising the impact of deprioritising selected low-margin European and Asia territories, alongside strengthening home market demand. Advent season has been the strongest launch in history across LOOKFANTASTIC and Cult Beauty edits." It continues: "To drive market share gains across both D2C and offline retail, Myprotein will limit price increases in H2 2025, further supporting growth in new customers and enabling an acceleration of its installed base in global offline retail."
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Fire safety products firm Zenova announces it has entered into non-binding terms to acquire Restoreo International. The possible transaction will be classed as a reverse takeover, so shares in Zenova have been suspended. "The board is confident that by leveraging Restoreo's working capital, existing technology, IP, logistics and distribution capabilities alongside Zenova's existing technology, IP, and manufacturing infrastructure, the enlarged group will be able to drive international growth through a combined product portfolio," Zenova says. Restoreo serves the insulation materials industry, in particular the windows and flooring markets.
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By Eric Cunha, Alliance News news editor
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Related Shares:
Ashtead GroupTrainlineEnergean Oil & GasFevertreeThgZenova Grp