NatWest has posted above-forecast interim results, lifted its full-year guidance, and announced a £750 million share buyback. For the six months to 30 June, the FTSE 100-listed bank saw its operating pre-tax profit rise by 18% to £3.6 billion, beating the £3.46 billion consensus forecast. Reporting the first results since its return to private ownership after the government sold its remaining stake earlier this year, the lender lifted its dividend by 58% to 9.5p a share, up from 6.0p last year. NatWest forecast its annual income to be above £16 billion, up from earlier guidance of £15.2 million to £15.7 billion. "With positive momentum in our business, we are ambitious for the future and see clear opportunities for further disciplined growth," commented NatWest chief executive officer Paul Thwaite. In early trading, NatWest shares gained 1.9%.
Close Brothers Group has announced the sale of its Winterflood execution services and securities business to Marex Group for £103.9 million in cash. The transaction marks another step in simplifying the FTSE 250-listed group to focus on its core specialist lending business and follows the sale of Close Brothers Asset Management in February 2025. The company said it expects the sale proceeds to benefit its core CET1 ratio by around 30 basis points, increasing it to 14.3% from 14.0%. Winterflood notched up a £1.7 million operating loss in the year ended 31 July 2024, having swung from a £3.5 million profit in 2023. The Marex deal is expected to complete in early 2026 and is subject to regulatory approval. Close Brothers shares were up 9.6% in early trading.
Marshalls warned in a trading update that activity levels in its key markets had softened from the end of May and said it does not see any immediate catalyst for improvement for the remainder of 2025. The landscaping products manufacturer said interim revenues came in at £319.0 million, up 4% year-on-year, with volume growth being partially offset by weaker pricing and product mix. The FTSE 250-listed firm cautioned that landscaping end markets remain challenging, with structural overcapacity in the UK supply chain continuing to exert downward pressure on prices. Marshalls said profitability fell short of original expectations and now, assuming that headwinds continue with no increase in market activity levels, these same headwinds were expected to result in continued pressure on profitability in the second half. In early trading, Marshalls’ shares dropped 19.8%.
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NatWest Group plc Interim Results 2025 - Part 1 - - NATWEST GROUP (NWG)
