In early trade it’s shaping up to be a relatively quiet end to the week, but Land Securities was leading the FTSE-100 shortly after the open following the publication of interim results. Noting a combination of rental uplifts and cost efficiencies, the company posted a £243m pre-tax profit against a £193m loss posted for the same period a year ago. The company has as a result upgraded EPS guidance to match the print from last year and the outperformance is set to continue into 2026. Land Securities shares are trading 2% higher 30 minutes into the session.
Shares in the electronic component manufacturer jumped this morning after Volex Plc published a note advising the market of its attempts to buy the company. Two proposed offers have been submitted so far, the second one – a blend of cash and shares – puts a 76% premium on the stock from last night’s closing price, but so far there has been no response from directors. Volex directors note the economies of scale that such a move would deliver and add that the target stock was left trading at a 10 year low. The TT Electronics share price is 34% higher at the time of writing.
A trading update has been published by Solid State this morning. The company which is involved in the specialist manufacturer of computing, power, and communications products, has this morning advised that spending on a significant project by a client has been paused. There’s confidence that this delay is temporary but timings mean that the full year results will now be materially below current expectations and could impact FY25/26 as well. Relations with the client – the UK Armed Forces - are reported as remaining positive.
Headlines we expect on Monday
Cerillion Final Results
This time last year Revenue £39.2m, EPS 46.2p, Dividend 11.3p
Big Yellow Group Interim Results
This time last year Revenues £99.6m, EPS 66.3p, Dividend 22.6p
