Associated British Foods reported a 5% increase in annual profit and forecast “meaningful progress” in its 2023/24 financial year. The profit growth in 2023/24 would be driven by substantial improvement at its sugar business and a strong recovery in Primark’s margin thanks to lower material and freight costs. They reported an adjusted operating profit of £1.51bn, up from the £1.44bn made in 2021/22.

Beazley report that its written premiums rose 9% in the nine months to September, thanks to steady demand in its cyber and property risks unit and higher policy rates. Premiums written for the period rose to $4.33bn, up from $3.98bn YoY.

Direct Line Insurance says their total group gross written premium and associated fees came in at £1,282.4m. They state that claims from weather events, including recent storms are currently estimated to be within the group’s assumption.

Galliford Try receives an £87m contract for BTR development at Brent Cross Town.

Persimmon said it would build more homes this year than its earlier expectation, even as elevated mortgage costs and a prolonged cost-of-living squeeze kept buyers away. They now expect to build 9,500 homes in 2023, above its August forecast of 9,000 units, as it pointed to improved sales since the start of October.

RS Group report a H1 pretax profit of £126m.

Vistry inks a £819m partnerships deal with Leaf living and Sage Homes.

Watches of Switzerland plans to more than double its sales and profits by FY28.

Investec Downgrades ASOS to Hold (4 Buys / 7 Holds / 3 Sells)

Jefferies Downgrades Hikma Pharmaceuticals to Hold from Buy (6 Buys / 4 Holds / 0 Sells)