Three developing stories at the UK stock market open.
1. Pre-tax profits up 25% at Barclays
Full year numbers are out from Barclays LON:BARC this morning with the bank noting RoTE of 10.5% and total capital distributions of £3bn, achieving full year targets and setting the company on course to deliver in 2026. Credit impairment charges were slightly higher, although this can be more than explained by the book picked up as part of the Tesco acquisition, although the note does hint at a slight deterioration in 2025. Pre-tax profits added almost 25% and group income increased by 6%.
2. Unilever full year numbers include new share buy back
Unilever LON:ULVR issued its full year numbers today as well, with underlying profits up 12.6% and sales up 4.2%, led by 2.9% volume growth. The quarterly dividend is up by more than 6% and the demerger of the ice cream business remains on track. Sales growth for 2025 is expected to fall within the stated range and a modest improvement in operating margin for the full year is also forecast. A new share buy back program of up to $1.5bn has also been initiated.
3. Solid growth at Coca-Cola despite uncertain macro backdrop
Coca-Cola Hellenic LON:CCH also has its full year numbers out, with organic revenue growth of almost 14% being recorded. Operating profits advanced by an impressive 24% with the strong performance coming despite broader macroeconomic uncertainty. Whilst challenges are expected to persist here, management still expect to deliver a further 6% to 8% of organic revenue growth in the year ahead.
