The company may be in the midst of being taken over by Keysight Technologies, but an update provided today on divestments needed to gain the necessary regulatory approvals for the deal to proceed provided a small bounce for the share price in an otherwise becalmed market. There are still some hurdles to be overcome here, but the Spirent share price added around 5% in early trade.
A report in the weekend media that a major investor was pushing for boardroom reform was sufficient to produce a response from the company this morning, laying out is shareholder engagement process and highlighting again how last week’s results showed the company making market share gains against a difficult backdrop. That resulted in a slightly choppy start for the Topps Tiles share price on Monday, moving in a range of around 5% but sitting close to unchanged by 9am.
The software provider for the fashion and retail industry saw its share price jump higher this morning after news of a disposal was announced. The company is to divest its NexSys Solutions entity for £36m, with a substantial proportion of the proceeds being returned to shareholders in the first half of 2025. The valuation being given to the business was in excess of the group’s market capitalisation on Friday night and the K3 share price is up 45% shortly after the open.
Headlines we expect on Tuesday
Marston’s Final Results
This time last year Revenue £872m, Pre-tax profit £35m. Operating margin 14.3%
SSP Final Results
This time last year Revenue £3bn, Operating profit £164m, Operating margin 5.4%
