This Week's Top FTSE 350 RNS Filings
Weekly Market Recap (Jun 2-6): Top FTSE 350 RNS Filings
We start the weekend strong with a review of some of the major regulatory news service (RNS) announcements from FTSE 350 companies this week. Below are the highlights from key sectors, summarising financial results.
1. British American Tobacco plc (BATS) - 2025 H1 Pre-Close Trading Update
Revenue Performance: Expected to be slightly ahead of previous guidance for H1 2025.
Full-Year Revenue Growth (constant rates): Now expected to be 1-2% (previously ~1%).
Adjusted Profit from Operations Growth (constant rates): Expected to be 1.5-2.5% for FY25, weighted towards H2 due to innovation roll-outs.
U.S. Business: Expected to return to both revenue and profit growth in H1 and FY25, driven by combustibles and strong Velo Plus performance.
New Categories: Low-single digit revenue growth expected in H1, accelerating to mid-single digit for FY.
Operating Cash Flow Conversion: Expected to be in excess of 90% for FY25.
Deleveraging: On track to return to 2.0-2.5x adjusted net debt/adjusted EBITDA target by end 2026.
2. Ninety One plc (N91) - Final Results
Assets Under Management (AUM): Increased by 4% to £130.8 billion (from £126.0 billion at 31 March 2024), driven by positive market and foreign exchange movements outweighing outflows.
Net Flows: Net outflows of £4.9 billion (improved from £9.4 billion in FY24). Notably, H2 saw net inflows of £0.4 billion compared to H1 outflows of £5.3 billion, indicating improving momentum.
Adjusted Operating Profit: Slipped 1% to £187.9 million.
Profit Before Tax: Declined 6% to £204.3 million.
Adjusted Operating Profit Margin: Remained robust at 31.2% (down slightly from 32.0%).
Adjusted Earnings Per Share (EPS): Decreased 3% to 15.5p.
Dividend Per Share: Proposed final dividend of 6.8p, resulting in a full-year dividend of 12.2p per share (marginally down from prior year).
3. B&M European Value Retail SA (BME) - FY25
Group Revenues: Increased by 3.7% to £5.6 billion (£5,571m) for the 52 weeks ended March 29, 2025 (vs. £5,372m for 52 weeks FY24).
Group Adjusted EBITDA (pre-IFRS 16): £620 million (up 0.6% vs. £616m in FY24), hitting the upper half of their guidance.
Profit Before Tax: £431 million (down from £498m in FY24 - a 53-week period), reflecting higher depreciation and increased finance costs.
Adjusted Diluted EPS: 33.5p (down from 35.9p in FY24).
New Stores: Opened 70 gross new stores across the Group (45 B&M UK, 14 Heron Foods, 11 B&M France).
Dividend: Recommended final dividend of 9.7p, leading to a full-year dividend of 15.0p per share.
Wizz Air Holdings plc (WIZZ)- Results for the 12 Months to 31 March 2025
Passengers Carried: 63.4 million (up 2.2% from 62.0 million last year), despite a slight decrease in ASK capacity (down 0.1%).
Load Factor: Increased 1.0 percentage point to 91.2%.
Total Revenue: €5,267.6 million (up 3.8%).
Operating Profit: €167.5 million (a significant decrease from €437.9 million in FY24).
Net Profit: €213.9 million (down from €365.9 million in FY24).
Unit Revenue (RASK): Up 3.9% to 4.33 euro cents.
Total Unit Cost (CASK): Up 10.9% to 4.33 euro cents, with Ex-fuel CASK up 19.9% due to groundings.
Outlook: Expects improvement from FY26 with a return to growth and reduced operational disruption.
Wise plc (WISE) - Results for the financial year ended 31 March 2025
Cross-Border Volume: Increased 23% to £145.2 billion.
Active Customers: Grew 21% to 15.6 million.
Underlying Income: Up 16% to £1.4 billion.
Revenue: Up 15% to £1.2 billion.
Underlying Profit Before Tax: £282.1 million (up 17%).
Reported Profit Before Tax: £564.8 million (up 17%).
Basic EPS: 40.37p (up 18%).
Customer Balances: Increased 33% to £21.5 billion (cash and assets).
Strategic Announcement: Intention to pursue a dual listing in the US to broaden access to capital markets.
Abrdn Diversified Income & Growth Trust plc (ADIG) - Half-Yearly Financial Report 31 March 2025
Net Asset Value (NAV) per share total return: 4.4% for the six months ended March 31, 2025.
NAV per Ordinary Share: Rose 1.4% to 68.42p (from 67.48p at Sep 30, 2024).
Total Shareholders' Funds (Net Assets): £206.1 million.
Share Price: Advanced 8.1% to 48.10p, narrowing the discount to NAV.
Portfolio Performance: Positive contributions from Private Equity (+1.8%), Diversifying Opportunities (+0.9%), and FX (+2.0%), offset by Real Estate (-1.4%).
Wind-down Update: Confirmed ongoing managed wind-down, with a secondary sales process underway for its private markets portfolio to optimize asset realization and return cash to shareholders.
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The information provided in this article is for informational purposes only and reflects my personal opinions and analyses. It should not be considered financial advice or a recommendation to buy or sell any securities. Investing in the stock market involves risks, and past performance is not indicative of future results. Readers are encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. I do not assume any responsibility for any financial losses or consequences that may arise from reliance on the information provided herein.