UK equities edged higher on Wednesday, while the pound weakened against the dollar, slipping below the $1.34 mark amid a series of corporate updates from major London-listed firms including Unite Group, Serica Energy, and Greencore.
As of 0716 GMT, the FTSE 100 was up 0.2%, with the British pound down 0.2% to just above $1.33. On the continent, Germany’s DAX traded flat, while France’s CAC 40 gained 0.2%.
Marston’s Expects Profit to Beat Forecasts After Another Strong Year
Marston’s PLC (LSE:MARS) reported strong annual results for the 52 weeks ending September 27, noting that underlying profit before tax is set to come in above market expectations. The pub operator—whose portfolio spans more than 1,300 locations—delivered its second consecutive year of substantial profit growth, following a 65% jump in fiscal 2024.
Unite Group Reiterates Full-Year Guidance
Unite Group PLC (LSE:UTG) reaffirmed its full-year adjusted earnings per share guidance of 47.5p to 48.25p, supported by 4% rental growth for the 2025–26 academic year. The UK’s largest developer and operator of purpose-built student accommodation also reported stable property valuations and continued progress in its acquisition of Empiric Student Property plc.
Serica Energy Warns of Lower Output Due to Triton FPSO Shutdown
Serica Energy PLC (LSE:SQZ) said that production at the Triton FPSO, operated by Dana Petroleum, has been offline since September 30 due to an issue with the flare system. The company expects production to resume soon but cautioned that output will remain “severely limited” until the problem is resolved. As a result, Serica now anticipates production will fall short of its earlier guidance of 29,000–32,000 barrels of oil equivalent per day.
Greencore Raises FY25 Profit Guidance After Robust Fourth Quarter
Greencore Group PLC (LSE:GNC) lifted its full-year operating profit forecast for fiscal 2025 to £125 million, up from its prior range of £118–121 million, following a strong fourth-quarter performance. The convenience food manufacturer recorded 8% revenue growth in Q4—slightly below Q3’s 9.9%, but consistent with its full-year average. Greencore credited the performance to new business wins, product innovation, and favorable weather, marking the second time this year it has upgraded guidance.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Leave a Reply