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. Bellway sees completions, profits up for FY26
Housebuilder Bellway LON:BWY issued a full year trading update this morning noting completions up 11% with underlying operating profits expected to improve from £303m a year ago to £320m. The balance sheet has been bolstered significantly over the last 12 months, although margins have contracted as a result of higher volume bulk sales. Buyer uncertainty continues to drag on the outlook although management also note that internal mitigations are being deployed to ensuer shareholder returns are maximised.
2. Market outperformance posted by Spirax, FY guidance reiterated
The FTSE100 manufacturing company Spirax LON:SPX released interim results this morning, noting revenues up 5%, operating profits some 44% higher and operating profit margins improved by almost 500bps, although restructuring has seemingly bolstered this metric. The performance is however well ahead of sector peers, with management noting that momentum is being sustained. That’s underpinning the outlook for the second half of the year and has resulted in full year guidance being reiterated.
3. H1 posts record EBITDA at Atalaya, buoyed by high underlying prices
Atalaya Mining LON:ATYM issued Q2 and H1 numbers today, noting the highest ever recorded EBITDA figures in the company’s history as a result of high copper prices. That’s seen management up the interim dividend by 25% although the note does caution that production for the full year for both copper and silver will be at the lower end of previously guided ranges.
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In case you missed it
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In the company diary today, look out for updates from Bellway, Genuit, IHG, S4 Capital and Spirax.
The AIM All Share started the week on the front foot yesterday, managing to outperform the main board and even make a brief foray back above 800 for the first time in almost two months, although early gains were largely eroded as the session continued. By the bell the index was up just under one point at 796.77.
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