Prudential Share News (PRU)

(Alliance News) - Diploma raises its guidance, Softcat reports higher earnings for the first half of the year and also lifts its guidance, while Moonpig says it will start a new share buyback programme.

Here is what you need to know before the London market open:

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MARKETS

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FTSE 100: called up 2.0 points at 10,405.60

GBP: higher at USD1.3357 (USD1.3345 at previous London equities close)

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BROKER RATINGS

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Jefferies cuts National Grid to 'hold' (buy) - price target 1,410 pence

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COMPANIES - FTSE 100

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Diploma upgrades its guidance for the financial year to the end of September. The supplier of specialised technical products and services says its "great performance" continues through the first half of the year, and it is confident in its momentum for the second half. It now expects organic revenue growth of 9% for financial 2026, up from 6% previously, remaining weighted to the first half. The firm raises its operating margin guidance to around 25% from 22.5%, which represents a 13% upgrade to consensus operating profit. It puts consensus adjusted operating profit for financial 2026 at GBP377 million. Diploma says it expects "another year of sustainable quality compounding" with earnings growth over 20% and strong returns on capital. The company says aerospace demand and supply characteristics are "favourable and sustainable". It says margins continue to expand, driven by accretive contribution from Peerless and steady accretion across the rest of the group. On acquisitions, the company says: "With a healthy short-term pipeline, we feel optimistic about this momentum continuing in the months ahead. Potential acquisitions are not reflected in our guidance."

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Prudential reports sharply stronger 2025 annual results, with higher profit and improved per‑share performance supported by broad growth across its Asian operations. The London-based insurer focused on Asia says pretax profit rises 67% to USD4.94 billion in 2025 from USD2.95 billion the previous year. Prudential declares a second interim dividend of 18.89 US cents per share, 16% higher from 16.29 cents a year earlier, lifting the total dividend by 16% to 26.60 cents from 23.13 cents. The total dividend is above the consensus of 26.23 cents. Annual premium equivalent sales was USD6.66 billion, up 7.4% from USD6.20 billion a year prior. The figure is below the USD6.73 billion forecast according to company-compiled consensus. Chief Executive Officer Anil Wadhwani says: "2025 was a strong year of consistent delivery for Prudential, with double-digit growth reflecting sustained momentum throughout the year. Structural demand for our products in Asia and Africa continued to rise, driven by the increasing protection, retirement and wealth needs of our customers." Looking ahead, Prudential expects to continue delivering double-digit growth in 2026 for new business profit, basic earnings per share based on adjusted operating profit, and operating free surplus.

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COMPANIES - FTSE 250

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Softcat lifts its profit guidance for the full year as it reports higher earnings for the first half of the 2026 financial year. The provider of IT infrastructure products says pretax profit rises 15% to GBP88.2 million in the six months to the end of January from GBP76.7 million a year ago. Revenue jumps 54% to GBP837.5 million from GBP545.6 million. Softcat says the performance in the first half is driven by "broad-based growth". It raises the interim dividend by 11% to 9.9 pence per share from 8.9p a year ago. The company says it now expects high single-digit growth in underlying operating profit in financial 2026, up from low single-digit previously. Underlying operating profit climbs 27% to GBP93.8 million in the first half from GBP73.7 million. "Softcat delivered terrific progress in the first half, with growth in gross profit and underlying operating profit well ahead of expectations alongside excellent cash generation. This reflects the benefits of ongoing investment in our offering over the past few years, as well as sharp execution during the current period, and the benefits we are seeing on customer demand for AI enabled infrastructure and our own operational transformation," says Chief Executive Officer Graham Charlton.

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Moonpig says it expects adjusted earnings per share to be at the top-end of its guidance for the financial year to the end of April. The online greeting card and gifting company says it continues to trade in-line with expectations through the second half of the year. It expects to deliver its adjusted earnings before interest, tax, depreciation and amortisation guidance of mid-single digit percentage growth. It expects adjusted EPS growth at the top-end of the 8% to 12% guidance range. It also expects high single-digit percentage revenue growth for the full year. The company says Experiences has traded "slightly ahead" of its previous expectations and it expects a mid-single digit percentage revenue decrease for the full year. Moonpig says it is on track to complete GBP60 million of share buybacks by the end of the financial year. It plans to start a further share buyback of up to GBP65 million in financial 2027. "Moonpig benefits from a compelling customer proposition and leading market positions in online greeting cards and gifting. Looking ahead, I see a clear opportunity to build on our proprietary data and strong customer relationships to become even more relevant to customers and inspire even greater creativity in how people celebrate and connect," says Chief Executive Officer Catherine Faiers.

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OTHER COMPANIES

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Permanent TSB confirms Vienna-based bank BAWAG Group is one of "a number of parties" participating in the previously announced formal sales process. The Dublin-based lender says the process remains ongoing, and it continues to engage with all parties participating. It notes that this does not represent a firm intention by BAWAG or any other party to make an offer. "The objective of the formal sale process remains the same; to identify a new owner that will enable PTSB to continue building on its recent strategic and financial progress, and to support the Company in the next phase of its growth and strategic development," it says.

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By Michael Hennessey, Alliance News reporter

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