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. 98% occupancy at Land Securities, write-downs hit profits
Land Securities LON:LAND issued a half year report this morning, noting income 5% higher and costs down by 6%. Asset write-downs on disposal meant that the pre-tax profit figures took a meaningful hit, but the outlook is positive with EPS expected to show further growth, whilst occupancy stands at almost 98% and rental uplifts stand at 10%.
2. Full year guidance reiterated at Melrose
A trading update from Melrose LON:MRO covering the four month period end of September was issued today. This sees full year guidance reiterated following a revenue uptick of 14%, with income set to be around £3.5bn and operating profits of between £620m and £650m. Free cashflow is expected to exceed £100m.
3. MicroSalt FY25 sales set to beat forecasts, ambitious mid-term targets laid down
Down into the small caps and Microsalt [LON:SALT], the recently IPO’d low sodium salt replacement product, also issued a trading update today. Sales for the first 10 months of the year stood at $1.66m, with management confident that the original $2m target can now be exceeded. Looking further ahead, FY26 sales are set to be $7m, rising to $15m in FY27.
This article does not constitute investment advice. Do your own research or consult a professional advisor.
