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Tesco raises profit guidance as half-year profit rises


By Goran Nastic

Tesco has raised the lower end of its annual profit guidance and increased its share buyback after reporting a better-than-expected a 6.5% rise in interim operating profit to £1.78bn.

The UK's largest supermarket now expects group adjusted operating profit of between £3.15bn and £3.30bn, compared with its previous £3bn to £3.3bn range


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Vodafone upgrades VodafoneThree savings target to £1bn

Vodafone has upgraded its annual cost-savings target for VodafoneThree to £1bn by FY32 from £700m by FY30, as it outlined plans to accelerate growth and cash generation from its UK joint venture

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Imperial Brands launches new buyback for FY27

Imperial Brands has announced that it has launched a new £1.5bn share buyback scheme for the 2027 financial year, following the recent completion of a £1.45bn scheme earlier this month

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Boots sold to Canadian billionaire family for £6.7bn

Boots has been sold to the holding company of Canada’s billionaire Weston family for $8.9bn (£6.7bn).

The deal marks the second time that the pharmacy and retail chain has been acquired in the last 12 months, with Whittington Investments acquiring the British company from the private equity firm, Sycamore Partners

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Royal Mail to cut 2,500 jobs in operational review

Royal Mail has announced that it is to cut up to 2,500 jobs by the end of 2027 as the business implements universal service reform as part of its transformation programme.

The postal service said that the reduction equates to less than 2% of its current workforce, and is subject to a consultation, after briefing the unions on its proposals

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Aberdeen halves stake in Standard Life in £436m sale

Aberdeen has reduced its stake in Standard Life by half to about 5.2%, selling around 52 million shares in the insurer

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Pennon plans £550m rights issue and cuts dividend

Environmental utility infrastructure company Pennon shares fell more than 15% after the company unveiled a £550m rights issue, cut its dividend and announced a major "operational reset" aimed at improving performance, particularly at South West Water

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Kenmare confirms takeover approach from Abu Dhabi-backed investor

Kenmare Resources has confirmed that it has received a non-binding proposal from International Resources Holdings RSC (IRH) regarding a possible cash offer for the entire London-listed company.

The Irish-headquartered miner said talks with IRH are ongoing, but cautioned that there is no certainty that a formal offer will emerge or what terms any bid might contain

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Asos shares drop following alleged hacking

Shares in Asos have fallen by over 13% after the online fashion retailer was allegedly hacked earlier today

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Clarksons ups profit guidance amid ‘record freight rates’

Clarksons has stated that it expects its underlying profit before tax for the full year to not be less than £135m in the year to 31 December

TW Kempton Pension Scheme finalises £1.5m buy-in with Just Group

The TW Kempton Pension Scheme has finalised a £1.5m buy-in with Just Group, securing the benefits of four pensioners and one deferred member
Informa buys Clarion for £2.24bn and plans to offload academic business

Informa has agreed to buy B2B events organiser Clarion from private equity firm Blackstone for £2.24bn as it launches a formal process to separate its academic publishing business, Taylor & Francis, in an effort to sharpen its focus on events
Hammerson appoints AEW exec Gina Szymanski as CFO

FTSE 250 property group Hammerson has appointed Gina Szymanski as CFO and a director, with her expected to join its board by 1 January 2027
UK venture investment reaches £16.9bn but weak exits threaten capital recycling

UK venture-backed companies attracted £16.9bn across 1,417 deals in the first seven months of 2026, but a lack of exits and a concentration of investment in fewer, larger funding rounds could hinder the ecosystem's future growth, according to a NatWest and PitchBook report

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