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Thames Water returns to profit but funds to last until year-end


By Dan McGrath

Thames Water has reported a £200m profit in the year to 31 March, after reporting a loss of £1.6bn in the previous year, but only has funds to last until the end of 2026.

The troubled utilities firm stated that its revenue increased by 40.7% to £3.8bn, while its underlying earnings rose by 61.5% to £2.1bn


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Barratt Redrow plans £400m share buyback after solid year

Barratt Redrow plans to return £400m to shareholders in its 2027 financial year, primarily through share buybacks, after delivering annual results in line with expectations despite a challenging housing market

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B&M shares hit following ‘sluggish’ Q1 performance

Shares in B&M have dropped by over 5% after the retailer recorded what analysts have described a "sluggish performance" in Q1

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Gore Street Energy shares fall as NAV plunges

Shares in Gore Street Energy Storage Fund fell about 6.7% after the battery storage investor reported a steep decline in net asset value (NAV)

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BP shares climb on stronger trading outlook despite production hit

Energy giant BP rose nearly 3% today after its second-quarter trading update indicated stronger oil trading performance and a reduction in net debt, offsetting weaker upstream production and a $1bn charge related to parts of its energy-transition business.

The FTSE 100 company said upstream production was expected to fall to between 2.17 million and 2.22 million barrels of oil (boe) equivalent a day from 2.34 million in the first quarter, citing seasonal maintenance in the Gulf of America and disruption in the Middle East.

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Debenhams reports ‘continued positive trading’

Debenhams has stated that it has recorded a continuation in "positive trading", adding that its multi-year turnaround is moving "at pace"

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Watches of Switzerland clocks up record year

Luxury watch retailer Watches of Switzerland reported record annual revenue, higher profits and strong cash generation, while reaffirming its outlook for FY27

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Genus set to land ahead of expectations in FY26

Genus has stated that it expects its full-year results to be "moderately ahead" of market consensus, following "better than anticipated" trading in the second half of its financial year

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System1 rejects Brave Bison's £43.1m takeover approach

Marketing technology company System1 has rejected a £43.1m cash-and-share proposal from its largest shareholder, Brave Bison, arguing the offer significantly undervalues its business

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Grafton posts revenue growth and maintains profit outlook

Building materials distributor Grafton Group saw revenue rise 6.7% to £1.34bn and maintained its full-year adjusted operating profit guidance of £190m-£200m after delivering resilient first-half trading

PageGroup shares jump 15% as it reiterates guidance

Shares in PageGroup increased by almost 15% after it reiterated its full-year expectations
Hugo Boss tells shareholders to reject £1.7bn Frasers bid

Hugo Boss has recommended that its shareholders do not accept Frasers’ voluntary takeover offer, valued at £1.7bn.

The luxury fashion brand said that the offer price of €38 per share from the UK firm "does not adequately reflect" its standalone prospects and future value creation potential
Apollo looks to hijack Castlelake's easyJet transaction

Apollo Global Management has effectively moved to hijack Castlelake's attempt to acquire easyJet by launching a higher £5.7bn bid for the budget airline.

Apollo Global Management, one of the world's largest alternative asset managers and private-equity firms, has agreed key financial terms on a possible £5.7bn cash offer for the airline, prompting the board to withdraw its backing for the rival bidder


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