#MER Panmure raise PBT expectations to £61m from £58m. FY26 and 27 unchanged currently. TP 499p.

#MER issues a TS before a more detailed TS and goes a bit GAWesque. FY PBT expected at top end of guidance.

#CKN Latest BDI shows quite an uplift in H2. ChatGPT data analysis is suggesting to me this isn’t reflected in current forecasts based on historic correlation even with adverse exchange rate movements. TS expected January. Please DYOR.

Its my 10 year #GAW-versary today! Initial purchase 611p 07/12/15. Share price +3214% Total Return +3644% Dividends per share paid to date - 2670p. Rule 1: Never Sell #GAW Rule 2: See Rule 1.

#TPFG Canaccord maintain TP of 637p with a slight FY25 increase of 2% and FY26/FY27 unchanged. Cavendish also increase FY25 2% leaving forecasts unchanged until results with TP 710p.

#SPA NUAR Contract with OS. I spoke with them about this issue at Mello about this last year. Much needed given the patchwork coverage and delay we have getting records. Good to see it progress. (I don’t hold)

#WOSG Barclays raises TP to 595p from 510p

#WOSG H1 Results. Revenue and PBT increased. H2 has started well and in line with expectations. Reiterates FY26 guidance.

#TPFG FY TS. Reports “significant organic growth” and expects PBT to be “at least in line with expectations”. Expects further growth in FY26.

#OTB Deutsche Bank raise TP to 345p from 320p.

#BMY announce strategic collaboration with Google Cloud leveraging AI tools.

#MONY TS. FY expectations unchanged. Continued to deliver growth, SuperSaver club at 2m members with significant potential, expects easing headwinds in FY26.

#OTB FY Results. Record TTV with adj. PBT increased 20% to £35m with cash at £91.7m. 14% of share capital purchased un buybacks. Winter 15% ahead YOY, Summer already 8% ahead and building. Confident of delivering FY26 in line.

#WYN FY TU. PBT expected modestly ahead as Project Genesis drives efficiencies. Current year trading inline.

#RNWH FY Results. In line with TU with record revenue and order book with modest net cash. Scale of opportunity in Transmission and Distribution has “exceeded our expectations”. Strong position for remainder of CP7.

I hereby give fair warning that against my better judgement, I have been coerced into putting the Xmas Decorations up early. I take no credit or responsibility if this subsequently results in an early Santa Rally or a large correction. Bah humbug.

#XPS. Cavendish updated their Broker Note yesterday reiterating their Buy with 410p TP and a further note today entitled “Share Price Reaction Unjustified”. I agree but maybe trying too hard?

Happy “Good Games Win” Divi Day to all those observing. #GAW #GDWN

#KGH TU. Revenue increase 30% to £103.2m with underlying PBT at £16.4m. Looks like a stronger H2 expected which would put it ahead of consensus though states confident in delivering full year in line with expectations.

#XPS Canaccord raise TP to. 469p from 459p.

#XPS H1 Res. Revenue +13% with Adj PBT +5%. Trading in line with FY expectations. Pensions industry changes expected to unfold over many years, driving increasing need for services.

#GAW TU. H1 PBT expected at not less than £135m vs £126.8m in the same period last year. 100p divi announced.

#GFRD Cavendish notes the positive AGM statement and leaves TP unchanged at 670p discounting back from 2030 targets. Notes FCF yield of 6-8% and Divi Yield at 4-5% over the next 3 years.

Noting the announcement by #SSE yesterday of £33bn of investment in the electricity network by 2030. While SSE are so far the worst Ive come across for capacity, I suspect other DNOs will follow. If only there was a company that has this reinforcement capability.. #RNWH

#GFRD Panmure maintain Buy with 580p TP. Expects further national progress and confidence in consensus estimates.

#PSN Q3 TU. In line with expectations, sales rate, forward sales, sales outlets all increased over the same period last year.

#BTRW. CFO Mike Scott steps down with immediate effect and is thanked. I hope all is well with him.

#KIE AGM TS. In line with expectations, H2 weighted as previous, 94% of FY26 secured with order book now at £11.6bn

#GFRD AGM TS. Trading is in line with expectations with positive momentum. 92% of FY26 and 75% of FY27 revenue secured.

#JET2 adds Gatwick service from March 2026. “…once in a generation opportunity to accelerate our growth…”

#TW. TU. Expects FY in line with previous guidance despite recent softer sales rate ahead of the budget. Well positioned for an improving planning environment.

#VLX H1 Results. Revenue and Profit increased over the same period last year. H2 expected consistent with H1 and expects FY in line.

#GAW Jefferies raises TP to 18300p from 11850p

#HFG Shore Capital lower FY25 PBT 4% to £73m and FY26 17% to £67m

#HFG Q3 TS. Guides PBT lower at £72m to £75m with consensus around £77m as regulatory restrictions to the US impact the fish business. Expects profit progression in 2026 to be ‘difficult’.

#FOUR TS. Revenue at the upper end of forecasts at 2% below last year with PBT above forecast range. Order intake 3% below with gross margin just below 33% as tariff impact phased later than expected. Expects to continue to navigate market conditions.

#MEGP FY TU. Record PBT albeit a marginal miss on expectations by the looks. Laundry still growth area with slight reduction in photo. Strategic review ongoing.

#KIE hosting a trip out to a WTW. Wonder why they aren’t going to a STW - be far more entertaining….where there’s muck there’s brass and all that.

#VTY TU. Expectations unchanged with sales rate up 11% over the same period last year. Order book at £4.3bn, build cost inflation in line at low single digit %. Net debt reduction expected at December. Significant medium term opportunities.

#NFG terminates discussions with Epiris

#TRN H1 Results. Increased ticket sales, revenue, Op profit and EPS. “Europes most downloaded rail app”. Further growth and profitability expected as guidance raised. Rival threat overblown?

#BTRW AGM TU. ‘Resilient’ (flat) performance against the same period last year. FY guidance unchanged.

#TUNE H1 Results. Sales growth and revenue increase with Gross Margin after US tariff mitigations measures. Outlook in line with healthy demand for products.

#ZTF Q3 TU. Q3 similar to strong period last year after strong first half. FY PBT expected in line with expectations.

#BBSN confirm press speculation regarding a £50m offer for M+C Saatchi Performance. Expected to be materially accretive to be funded by £25m new bank facility and a further placing.

#BBSN news.sky.com/story/murdoc...

Weekend away in Richmond (Yorks) for Mrs TMs birthday. A lovely Autumnal walk after a fantastic meal out last night (with far too much wine). Love this place.

#RNWH renews RCF and increases to £140m on “improved terms” for 4 years.

#GDWN TU. What a great statement and possibly the only positive use of the word “However” Ive seen. 100% increase in profit and a Special Dividend of 532p.

#ALU Cavendish reduce FY26 EPS 5.9% and FY27 1.9% but maintain TP of 442p as shares remain at 18% discount to peers.