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. Tight focus on cost boosts performance at Marshalls
Building products manufacturer Marshalls LON:MSLH published interim results this morning which have arguably given investors something to cheer in what remains a depressed broader market. Management herald a sharper execution of self-help actions, which has translated into a 0.5% revenue decrease but a 13.2% uptick in adjusted pre-tax profits and a 13.6% rise in the interim dividend. With no improvement in the underlying market seen in the near term, the tight cost control is the only lever the company has but full year profit forecasts remain unchanged.
2. Plus500 eyes increased contribution from non-OTC business
Interims are also out from the online trading firm Plus500 LON:PLUS. Over the half year the numbers look impressive with revenues up 12% and new customers up 17%, but stripping that down to just the second quarter’s performance told a different story, with revenues just 5% ahead and new customer numbers down 12%. The non-OTC side of the business as the company looks to leverage prediction markets is however delivering improved returns, now contributing 15% of group revenue and this will be a metric worth watching going forward. A $100m share buyback has also been launched to accompany the dividend payment, which is fractionally lower than the comparative.
3. Major order secured at Thruvision
Thruvision Group LON:THRU, the walk-through security solutions provider as used by many airports, announced this morning that it had won a further £3m+ contract from a client in South East Asia. It’s the third major contract win in the region in the last 14 months and the order represents a significant percentage of annual revenues, which peaked at £12m in 2023 but posted just £6m last year.
A note from our partner
Trade US and EU stocks commission-free with MEXEM, only £2 flat UK share trades and FX fees of 0.25% with our Stocks & Shares ISA. Trade directly on 160+ global exchanges with true direct market access through Mobile, Web and Desktop platforms powered by Interactive Brokers UK. You can also invest beyond your ISA allowance with a General Investment Account with trading commission starting from just $0.8/£0.8. MEXEM Financial Services UK Ltd is FCA-authorised (FRN 1009371), with eligible client assets protected by FSCS. Capital at risk.
In case you missed it
We start with the near-collapse of Leopold Aschenbrenner’s AI focused hedge fund which offers some important lessions for traders.
An income strategy can work very effectively for both retirees and long-term investors. We take a look at how you can make it work.
In equities news, AIM listed Thor Explorations has reported high-grade gold finds, boosting prospects for an underground mine and longer asset life.
For our latest tip, we bring you one of consumer retail’s most consistent long-term growth stories. In our view, the stock has been oversold and represents an attractive value play. Sign up for your free trial to Plus+ to find out more.
In the company diary today, tlook out for updates from Caledonia Mining, HgCapital Trust, Plus500 and TSMC.
Leave a comment