Tony Cross
3 min read
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. $1bn share buyback from Experian
Experian [LON:EXPN] issued full year numbers this morning, noting performance at the upper end of the previously forecast range and revenues up 13%. Management have also announced a $1bn share buyback off the strength of surplus capital within the business, whilst the full year dividend is being hiked by 11%, too. For FY27 the company is eyeing revenue growth of a further 8%-11%.
2. Occupancy levels continue to buoy British Land
British Land [LON:BLND] also had full year numbers out today with underlying profits 5% higher and whilst management acknowledge the macro and political situation, they add that central London office take up is at its highest level in 20 years. Further EPS growth is forecast for FY27m with momentum expected to be maintained in the medium term.
3. M&S rebounds after H1 cyber attack
High Street stalwart Marks & Spencer [LON:MKS] is also out with full year numbers this morning, with FY pre tax profits down following that cyber attack early on, but momentum was starting to recover in H2. Shareholders are being sweetened with a hefty 16.7% uptick in dividends and again it was food sales over fashion that delivered the goods. Food is set to continue driving volume into the new year although rising costs from multiple factors are a concern here. Mitigating actions are however being deployed.
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