Home War AWARDS: Compass raises its forecasts; defense values ​​are declining

AWARDS: Compass raises its forecasts; defense values ​​are declining

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(Alliance News) – Here are the main rises and falls among the constituents of the FTSE 100 and 250 indices this Monday.

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Biggest rises in FTSE 100

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Airtel Africa PLC, down 9.1% Ã 400.40 pence

International Consolidated Airlines Group SA, up 5.4% to 405.70p, launches buyback offer for EUR825 million of senior bonds

Metlen Energy & Metals PLC, up 2.2% to EUR 37.08, supported by strong oil prices

Compass Group PLC, up 1.9% to EUR 30.07, raises its annual profit outlook after growth in its half-year results

Vodafone Group PLC, up 1.6% to 120.50p

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Biggest falls in FTSE 100

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Babcock International Group PLC, down 3.1% to 1,019.50p, selling on defense stocks across Europe

JD Sports Fashion PLC, en baisse de 2,9% à 72,92p

Entain PLC, en baisse de 2,7% à 533,20p

BAE Systems PLC, en baisse de 2,4% à 1 888,25p

Weir Group PLC, down 2.1% to 2,448.00p, Citi lowers price target from 3,500p to 3,250p

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Biggest rises in FTSE 250

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AEP Plantations PLC, up 2.6% to 2,035.00 pence

Metro Bank Holdings PLC, down 2.1% Ã 157.20p

Shawbrook Group PLC, up 2.1% to 157.20p, Barclays lowers price target from 520p to 510p

Ithaca Energy PLC, en hausse de 1,8% à 266,90p

Renewables Infrastructure Group Ltd, up 1.6% to 70.10p, agrees to divest GBP400m of assets and cut fees

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Biggest falls in FTSE 250

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Aston Martin Lagonda Global Holdings PLC, down 3.2% to 45.52p

Goodwin PLC, down 2.6% to 11,860.00p

Victrex PLC, down 2.4% to 411.10p, cuts 10% of its workforce, heavy first-half loss marked by an impairment charge in China

Qinetiq Group PLC, down 2.4% to 411.10p

Genuit Group PLC, down 2.2% to 253.20p

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Focus on the movements of the FTSE 100 & 250:

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Compass Group PLC, up 1.9% to EUR 30.07, 12-month range: USD 26.00 – USD 35.52. The group announces that its pre-tax profit for the first half increased to reach 1.47 billion USD against 1.28 billion USD a year earlier, driven by a turnover up 11% to 24.98 billion USD against 22.57 billion USD. On an underlying basis, revenue for the six months ended March 31 grew 9% at constant currencies, while organic growth was 7.2%, supported by a strong customer retention rate of 96% and new contracts worth USD 4.1 billion, up 14% year-on-year. Underlying operating profit increased 12% at constant exchange rates to USD 1.84 billion, with operating margin improving from 7.2% to 7.4%. Underlying earnings per share rose 12% to 72.8 US cents, while operating cash flow rose 14% to US$1.32 billion and free cash flow rose 11% to US$825 million. Compass raises its interim dividend by 13% to 25.5 cents from 22.6 cents. The group says it continues to benefit from strong demand for outsourcing, particularly in its Business & Industry division, while acquisitions including Vermaat in the Netherlands and Pro Care Management in Germany strengthen its European platform. Moving forward, Compass is raising its annual underlying operating profit growth forecast to more than 11%, compared to around 10% previously. It still expects organic revenue growth of around 7%, supported by continued margin growth and contributions from acquisitions.

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Victrex PLC, down 2.4% to 411.10 pence, 12-month range: 515.00p – 882.00p. The group reports a first-half pre-tax loss after taking a GBP60.6 million impairment charge linked to its production unit in China, while announcing plans to cut around 10% of its positions as part of a program to improve profitability. The Lancashire-based polymer solutions provider, which serves the automotive, aerospace, energy, industrial, electronics and medical markets, says its pre-tax profit for the six months to March 31 swung to a loss of 44.0 million GBP, compared to a profit of 17.2 million GBP a year earlier. Underlying pre-tax profit fell 18% to GBP19.0m from GBP23.2m, while underlying earnings per share fell 22.6p to 17.2p. Turnover increased 1% to GBP 147.1 million from GBP 145.9 million, with sales volumes up 6% to 2,137 tonnes from 2,018 tonnes, driven by its Sustainable Solutions division. The interim dividend is maintained at 13.42p per share. Victrex says its profit improvement plan is progressing well, with the first efficiency gains expected in the second half of the year and a target of at least GBP 10 million in annual savings by the 2027 financial year. The group is simplifying its structures and reducing its workforce by around 10%, mainly in central functions, in order to create “a simpler, more differentiated and more customer-oriented company. Chief executive James Routh said the company ‘did not adapt quickly enough to new market conditions and we must now focus relentlessly on improving our execution’. For the full year, Victrex anticipates underlying profit before tax of between GBP 42 million and GBP 44 million. However, he warns of the potential impact of events in the Middle East on global demand and energy costs.

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Renewables Infrastructure Group Ltd, up 1.6% to 70.10 pence, 12-month range: 63.20p – 90.50p. The investor in renewable energy infrastructure takes stock with its shareholders before a continuation vote, detailing plans for increased asset sales and a reduction in management fees. The company will target GBP400 million in disposals over the next 12 months to support share buybacks and debt repayment, while management fees will, from July, be based on market value rather than net asset value. These changes come as the group seeks to absorb a persistent discount compared to its inventory value.

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Unite Group PLC, up 0.3% to 483.60 pence, 12-month range: 442.20p – 874.50p. The Bristol-based student accommodation provider completes the sale of St Pancras Way to the Unite UK Student Accommodation Fund (USAF) and extends its share buyback programme. The company will receive GBP 126 million of the sale proceeds of GBP 186 million, including approximately GBP 115 million in cash, increasing its shareholding in USAF from 30% to 32%. It adds that it has increased its share buyback program from GBP 100 million to GBP 165 million, partly financed by disposal proceeds, as part of its accelerated asset sale programme.

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Games Workshop Group PLC, down 0.4% to 19,530.00 pence, 12-month range: 13,634.00p – 20,330.00p. The Nottingham-based fantasy games miniatures manufacturer is promoting Neil Tomlinson, current group operations director, to the role of deputy chief executive officer (COO), with effect from 31 May. ‘As COO, Neil will be responsible for the company’s design studios, extending his responsibilities across the entire team from design to manufacturing,’ the company says.

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By Eva Castanedo, Alliance News journalist

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