A trading update from the FTSE-250 listed specialist measuring company Spectris this morning saw management tighten guidance for the full year, noting that adjusted operating profits were now likely to be or marginally below the bottom end of consensus expectations. A number of factors are in play here including weaker demand in China and slowing EV sales. Shares were almost 9% lower less than an hour into the day.
At the top end of the FTSE-250, Games Workshop had a robust start to the day following the publication of its year-end trading update. Revenues continue to grow and licensing income has also returned to growth after last year’s contraction. The outperformance has seen the company’s staff share an £18m bonus pool, with shares up by more than 9% in early trade.
Shares in the global professional services business JTC found support this morning following news published last night that it intended to acquire FFP for a consideration of up to $110m. This broadens JTC’s scope and provides a new core pillar of activity. FFP generated $30.7m in revenues last year, JTC’s shares are up 5% in early trade.
Headlines we expect on Thursday
CMC Markets Final Results
This time last year Operating Income £288.4m, Pre-tax profit £52.2m, Dividend 7.4p
Smith (DS) Final Results
This time last year Pre-tax profit £79.7m, EPS 18p, Dividend 8.8p
