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Target Healthcare Reit (THRL)’s interim results pointed to the resilience of the healthcare sector. The care home landlord reported a 1.8 per cent increase in like-for-like rental income to ÂŁ30mn, while adjusted earnings per share rose 8.5 per cent to 3.4p. 

Target’s portfolio valuation was up 3.1 per cent on a like-for-like basis during the year to ÂŁ895mn. The company also sold 10 properties for ÂŁ94mn at an average 12 per cent premium to book value, and purchased two more for ÂŁ45mn. 

“[This is] the highest six-month return since the Group’s launch in 2013, driven by the active asset management of its carefully curated, best-in-class portfolio,” said chair Alison Fyfe.

The Reit has not issued specific guidance for the 2026 financial year, but hiked its quarterly dividend by 2.5 per cent to 1.508p. Shares rose 2 per cent in early trading.

BHP (BHP) chief executive Mike Henry will bow out at the end of the miner’s current financial year, ending a six-year run in the top job.

His legacy includes the removal of BHP’s dual-company structure and the failed bids for Anglo American (AAL), while also building a project pipeline for copper that looks to be among the best in the business.

His replacement is Brandon Craig, currently in charge of BHP Americas.

That division includes the all-important Escondida copper mine in Chile, and various new mines in the pipeline. Arranging the Vicuña joint venture with Lundin Mining (CA:LUN) looks to be a critical flag in his cap, given its importance to BHP’s top spot in the copper rankings.

Read the full story here

Moonpig (MOON) shares jumped 8 per cent in early trading after the online card and gifts group unveiled a ÂŁ65mn buyback for its 2027 financial year, and said adjusted earnings per share (EPS) was now expected to be at the top end of its 8 to 12 per cent growth guidance.

The upgrade was supported by ÂŁ60mn in buybacks in 2026, but also by free cash flow generation. Moonpig said it expects high-single-digit revenue growth and mid-single-digit growth in adjusted Ebitda for the full year.

Greetz, Moonpig’s Dutch online platform for personalised greeting cards and gifts, has maintained low single-digit revenue growth in constant currency. The Experiences business traded ahead of expectations but was expected to decline by mid-single digits.

Prudential (PRU) expects to deliver $1.3bn (ÂŁ977mn) of capital returns in 2027 after it kicked off a new $1.2bn share buyback in January, as the Asia-focused insurer delivered double-digit new business growth in its annual results and raised its dividend by 15 per cent.

The FTSE 100 group plans to return more than $7bn to shareholders between 2024 and 2027, from buybacks, dividends and proceeds from the December IPO of its 10 per cent stake in India asset management joint venture IPAMC. The current $1.2bn buyback programme is expected to be completed by December.

New business profit (a metric of new policies sold) rose 12 per cent to $2.8bn last year, while the respective margin was up 2 percentage points to 42 per cent. Both were better than the market expected. Prudential’s margin lags that of rival AIA (HK:1299).

Shares in Diploma (DPLM) jumped more than 17 per cent this morning after a major upgrade to the FTSE 100 distributor’s 2026 guidance. 

The organic growth target was lifted from 6 per cent to 9 per cent, while the operating margin outlook was increased from 22.5 per cent to 25 per cent. The company said that represents an upgrade of around 13 per cent to analysts’ consensus operating profit of ÂŁ377mn. 

Peerless, a New York-based speciality fasteners distributor that Diploma acquired for ÂŁ236mn in 2024, is still doing the heavy lifting. The business has become the star performer, largely due to a massive backlog in aircraft manufacturing.

Management expects another “outstanding” organic growth performance in the first half, with the second half returning to more typical growth rates against very strong comparators. Other businesses in the controls arm, such as Windy City Wire, are also performing well.

Excluding Peerless, the group said organic growth is “strong” and “well ahead” of its financial model. International seals is still the laggard, particularly in the UK, and is expected to hold back the overall growth rate of the seals arm in the first half. 

The outlook for net acquisition growth was unchanged at 3 per cent, but should increase if more acquisitions are made. The company guided for earnings growth of more than 20 per cent and “strong” returns on capital this year.

Read why we’re bullish on Diploma here.

Fevara (FVA), the livestock supplement supplier formerly known as Carr’s Group, has completed the acquisition of a new production facility in São Paulo state for £4.3mn.

This purchase is the second such transaction for the company in Brazil, after the purchase of Macal, a manufacturer of minerals for livestock, for ÂŁ5mn in December.

The Carlisle-headquartered company said the deal will support its strategy of “expansion into high-potential markets” and was financed entirely from cash. Brazil recently overtook the US to become the world’s largest beef-producing country.

The move comes after Fevara sold its engineering division to Cadre Holdings for ÂŁ75mn in April, and rebranded in September following the arrival of new boss Josh Hoopes from Associated British Foods (ABF), as part of its pivot to a pure agriculture focus.