Three developing stories at the UK stock market open. See all companies reporting here.
1. Full price sales remain strong at Next
Full year numbers are out from Next LON:NXT this morning, with the company noting full price sales growth of 5.8% and pre-tax profits up by just over 10%, with management noting that the optimistic start to the year as being warranted. A final dividend of 158p per share has been proposed, whilst looking into FY25/26, expectations are for a further £300m+ to be returned ot shareholders via a buyback.
2. Mixed bag from Arbuthnot as impairments weigh but FUM surges
Arbuthnot Banking LON:ARBB issued full year results this morning with pre-tax profits down by around a quarter off the back of flat income. Margins dropped 60 basis points and a notable increase in impairments was recorded against the comparative. The company remains well capitalised with £900m of surplus liquidity and funds under management grew by 30%, too. Dividends have been increased by 7% to reflect the broadly positive nature of the update – will the market be spooked by the bad loan provision?
3. Ambitious growth forecast at Playtech
Playtech LON:PTEC issued final results with revenues up 5% and adjusted EBITDA some 11% higher, a figure that was improved further by removing discontinued operations. The note confirms that the sale of Snaitech remains on track and once completed, a surplus EUR1.7-1.8bn will be returned to shareholders by way of a special dividend. The company notes a strong start of FY25 with new adjusted EBITDA targets of EUR250-300m being set, around double the level achieved in FY24.
