This Week's Top FTSE 350 RNS Filings
Weekly Market Recap (Jun 16-20): Top FTSE 350 RNS Filings
It’s been another eventful week across the FTSE 350, with a flurry of RNS updates from major names. Below is a summary of the key sector highlights and financial results worth noting.
16 June Highlights:
NextEnergy Solar Fund Ltd- 2025 Annual Financial Report
Financials:
NAV: 95.1p (–9.2% YoY)
NAV: £547.4m | GAV: £1.06bn
Income: £73.2m | Gearing: 48.4%
Cost of debt: 4.9% | Discount rate: 8.0%
Dividends & Buybacks:
FY25 dividend: 8.43p (+1.0%), 1.1x cover
Yield: ~12% | FY26 target: 8.43p
£11.5m buyback (15.6m shares), +0.5p NAV uplift
Operations:
Assets: 101 | Capacity: 937MW
Generation: 830GWh (–5.3% vs budget)
Asset life: 24.8 yrs | Total: 6.6TWh generated
Capital Activity:
£72.5m raised from asset sales (2.76p NAV uplift)
RCF consolidated (120bps over SONIA)
£60.1m RCF undrawn | £3.2m cash on hand
Outlook:
Discount to NAV remains wide (~27%)
Board exploring strategic options & fee realignment
£500m solar & storage pipeline in place
2. Entain PLC- Upgraded FY 2025 Guidance
Trading Update:
Strong momentum continued into Q2 2025, with Net Revenue growth broadly consistent with +34% YoY seen in Q1
Growth driven by strong performance across iGaming and Online Sports, supported by increased handle
Upgraded FY2025 Guidance:
Net Revenue: ≥ $2.6bn (vs prior $2.4bn–$2.5bn range)
EBITDA: ≥ $100m (previously EBITDA-positive only)
Online Sports remains on track to be contribution-positive for FY25
Outlook:
Upgraded guidance reflects a strengthened business model and revised strategic approach
Longer-term pathway to $500m EBITDA reaffirmed
Further detail to be provided in H1 results on 29 July 2025
17 June Highlights:
Ashtead Group plc – Q4 & FY25 Results
Financials:
FY25 Revenue: $10.9bn, +12% (constant currency)
FY25 EBITDA: $5.1bn, margin 47%
FY25 PBT: $2.3bn, +1% YoY
Q4 Revenue: $2.8bn, +5%
Q4 Operating profit: $610m
Dividend & Returns:
Final dividend: 89.25p/share (FY total: 101.0p, +5%)
$1.1bn share buyback completed in FY25
New buyback of $500m launched for FY26
Operational Highlights:
US: +13% revenue growth (Sunbelt US), rental revenue +11%
Canada: +12% rental revenue growth
UK: Flat revenue due to HS2 pause
Investment: $3.8bn capex (FY25), plan to invest $3.0–$3.3bn in FY26
New locations: 185 opened in FY25
Outlook:
Continued momentum in North America
FY26 guidance: +5–8% rental revenue growth
Five-year plan remains on track despite macro headwinds
18 June Highlights:
Speedy Hire Plc – FY25 Results
Financials:
Revenue: £416.6m, down 1.2% year-on-year
Adjusted EBITDA: £97.1m (margin 23.3%)
Adjusted profit before tax: £8.7m, down from £14.7m
Reported loss before tax: £1.5m
Adjusted EPS: 1.41p
Net debt: £113.1m (leverage 1.9x)
Free cash flow: £0.8m, reduced due to higher fleet investment and transformation costs.
Dividend & Returns:
Final dividend: 1.80p/share (full year: 2.60p, unchanged)
No share buyback; focus on investment and maintaining leverage.
Operational Highlights:
Hire revenue up 0.6%; services revenue (excl. fuel) up 4.5%
Lloyds British revenue up 5.8%
£57.5m invested in fleet, ~70% in sustainable products
New multi-year contract wins, ongoing digital transformation, and launch of Temporary Site Solutions in FY26.
19 June Highlights:
NCC Group PLC – Unaudited interim results for the period ended 31 March 2025
Financials:
Revenue: £156.8m for H1 2025, down 4.9% (constant currency)
Cyber Security: £123.5m, down 6.6%
Escode (escrow): £33.3m, up 1.8%
Adjusted EBITDA: £21.5m (down from £25.5m)
Operating Profit: £20.0m (up from £11.7m)
Profit Before Tax: £16.6m (up from £8.4m), driven by £11.3m gain from Fox Crypto disposal
Net Cash: £0.3m (vs. £53.5m net debt in H1 2024)
Dividend & Returns:
Interim Dividend: 1.50p/share (unchanged)
Capital Return: Potential significant return to shareholders if Escode sale completes
Share Buyback: Not announced
Operational Highlights:
Escode: 10 consecutive quarters of revenue growth; strategic review underway, possible sale being discussed
Cyber Security: Revenue down as business pivots to higher-value, strategic engagements (Managed Services, IAM, OT security)
Disposal: Sale of Fox Crypto for £65.6m, eliminating net debt and supporting future M&A options
Transformation: Ongoing shift to global delivery, recurring revenue, and tech partnerships (e.g., Microsoft, Splunk, Google)
Whitbread plc – Q1 FY26
Strategic Progress:
Continued strong execution of the Accelerating Growth Plan in both the UK and Germany.
Ongoing UK network expansion, commercial initiatives, and cost efficiency measures.
Five-Year Plan on track to deliver at least £300m incremental profit by FY30 and over £2bn in shareholder returns.
Financials & Trading:
UK:
Accommodation sales down 2%; RevPAR down 2%.
Outperformed the UK midscale & economy market by 1.7 percentage points on sales and 1.6pp on RevPAR.
London outperformed with accommodation sales +3.9pp and RevPAR +2.4pp ahead of the market.
Food & beverage sales down 16% due to F&B optimisation and room expansion strategy.
Germany:
Accommodation sales up 16% (15% in GBP), driven by estate maturity and commercial actions.
RevPAR up 12% to €63 (established hotels: +17% to €72), significantly ahead of the market.
Food & beverage sales up 22%.
Group:
Total sales down 4% (UK -5%, Germany +16%).
Like-for-like sales: UK -3%, Germany +13%.
Capital Returns:
£250m share buyback underway; £34m spent on 1.2m shares so far.
Operational Metrics:
UK occupancy: 78.6% (-3.3pp YoY), average room rate £78.85 (+1.6%), RevPAR £62.00 (-2.4%).
Germany occupancy: 67.4% (+2.8pp YoY), average room rate €94.11 (+7.1%), RevPAR €63.43 (+11.7%).
Outlook:
Five-Year Plan on track; aiming for £300m profit uplift and >£2bn in shareholder returns by FY30.
UK forward bookings ahead of last year; confident in continued market outperformance.
Germany on course for profitability in FY26, targeting double-digit returns on capital.
Thanks for reading,
Ollz
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.