Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Q1 numbers from Topps Tiles show market outperformance
Topps Tiles LON:TPT issued a Q1 trading update this morning with revenues up 3.7%, a number that reflects outperformance of the wider market. Acquisitions are driving further growth potential for the business and management note confidence in posting another year of progress both strategically and financially.
2. Reckitt shareholders set to clean up with £1.6bn special dividend confirmed
Reckitt Benckiser LON:RKT has this morning confirmed it will be returning £1.6bn to shareholders by way of a special dividend, following the disposal of its Essential Home business. This will be accompanied by a modest share consolidation in a move that is designed to mitigate any adverse impact on the share price as a result of the payout.
3. Hallam Land division exceeds 2025 sales targets
Property developers Henry Boot LON:BOOT have this morning announced that their land promotion and planning business Hallam Land have completed the sale of a freehold site near Swindon. This transaction delivered an internal rate of return of 9.2%p.a. and saw the division exceed its sales targets for 2025. Management is also optimistic that regulatory change effected by the new government will accelerate the pace at which Hallam Land can unlock these prime development sites.
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