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. Management minded to recommend public offer for Spire
Spire Healthcare [LON:SPI] issued a trading statement this morning, but the news was accompanied by a second release confirming that a revised offer had been tabled by PE play Toscafund of 250p per share – a level which management would offer their support for a takeover. The usual caveats apply but the stock is likely to see a bounce at the open.
2. Premier Foods sees upbeat FY performance, divi lifted by 20%
Premier Foods [LON:PFD] issued full year results this morning, with revenues up 2.5%, trading profits 6.7% higher and net debts down by around one third. The profit delivery came in ahead of the previously offered guidance, reflecting gains in both efficiency and market share. The final dividend is being increased by 20% whilst management have also advised that an interim dividend will be payable from next year.
3. Strong studios revenue helps ITV in Q1, World Cup fever looms
A Q1 update from broadcaster and producer ITV [LON:ITV] saw studios revenue more than outperform the decline in advertising, whilst the company expects an upbeat outlook with this summer’s World Cup set to boost income. Full year guidance has bene reiterated despite the impact of the Middle East conflict, although there are caveats attached with that and margins are now set to land at the lower end of the previously set range.
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In case you missed it
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