Daily Stock Market Report (Mon 17 Mar 2025) - QQ, SAG/RCDO, BKS, MWE
Good morning and welcome back!
Megan published The Week Ahead, the preview for this week's set of announcements, on Friday. Here's the link.
Today's Agenda is complete (we think!).
Companies Reporting
Name (Mkt Cap)RNSSummaryOur view (Author)Phoenix group (LON:PHNX) (£5.3bn)Full Year ResultsOp cash generation +22% to £1.4bn, in line with targets. CSM +14% to £3.3bn. Div +2.5% to 54p.Qinetiq (LON:QQ.) (£2.9bn)TUDelays in UK/US contract awards. FY25 rev exp +2% at 10% margin, vs 11% prev. FY26 downgraded.BLACK (PW) / RED (Roland)I fear today’s profit warning could be the start of a more difficult period for this UK defence group. Comments on difficulties in the US do not seem encouraging to me and I am puzzled by management’s decision to increase cash allocated to buybacks against this backdrop. May’s FY results will hopefully provide further detail and clarity on trading conditions and outlook.Sigmaroc (LON:SRC) (£1.1bn)Full Year ResultsAdj EPS +2.8% to 8.35p, “modestly ahead of consensus”. Outlook: 2025 “started positively”.Bakkavor (LON:BAKK) (£1.0bn) (14 Mar pm)Possible offerGreencore (LON:GNC) has made a possible cash and share offer for BAKK that has been rejected by BAKK’s board.PINKMarshalls...