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All Market News Today All digested RNS titles 579
DEC logo DEC

Diversified Energy TR-1

Diversified Energy Company PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Barclays PLC', '', 0]
SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['City of London Investment Management Company Limited', '14.950000', '15.020000']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['Morgan Stanley', '5.936702', '6.086446']
BOWL logo BOWL

Holding(s) in Company

Hollywood Bowl Group PLC

<mark style="background-coloryellow">TR1</mark> Buy
['BlackRock, Inc.', '3.990000', 'Below 5']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['Societe Generale', '5.165383', '4.591594']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['HSBC Holdings plc', '10.626000', '9.994000']
IPF logo IPF

Form 8.3

International Personal Finance PLC

SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['1607 Capital Partners, LLC', '2.775756', '9.634830']
SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['Gresham House Asset Management Ltd', '17.23', '16.07']
IAG logo IAG

Launch of €500 million Share Buyback Programme

International Consolidated Airlines Group S.A

**Summary**
International Consolidated Airlines Group (IAG) announced the launch of a €500 million share buyback programme on February 27, 2026, aimed at reducing the companys share capital, pending shareholder approval. The programme, authorized by the 2025 Annual General Meeting, will be executed by Morgan Stanley Europe SE and Goldman Sachs Bank Europe SE, starting on March 2, 2026, and is expected to conclude by May 29, 2026.
Key details include
**Total Value** €500 million, with €374 million allocated for market purchases and €126 million for purchases from Qatar Airways.
**Qatar Airways Participation** Qatar Airways will maintain its 25.1434% stake in IAG by selling shares proportionally to the banks, rather than directly in the market.
**Scope** Up to 310,717,331 ordinary shares (6.57% of issued share capital) will be purchased on the London and Spanish Stock Exchanges.
**Price Limits** Shares will be bought at a price no higher than the lower of (i) the higher of the last independent trade or highest current bid, and (ii) 105% of the 5-day average market value.
**Daily Volume Cap** Purchases will not exceed 25% of the average daily trading volume over the preceding 20 days.
**Post-Purchase** Acquired shares will be held in treasury, with potential cancellation subject to shareholder approval at the next Annual General Meeting.
The programme complies with EU Market Abuse Regulation and related delegated regulations, ensuring transparency and fairness in execution.
Launch
IPF logo IPF

Form 8.3

International Personal Finance PLC

HLCL logo HLCL

Helical and PfL JV forward funds Southwark PBSA

Helical Bar Plc

**Summary**
Helical PLC and Places for London (Transport for Londons property company) have entered into a joint venture (JV) to forward fund and sell a purpose-built student accommodation (PBSA) project in Southwark, London, valued at over £200 million upon completion. The scheme includes 429 high-quality student studios, new retail space, and public realm enhancements, designed by AHMM. It also supports the delivery of 44 affordable homes and community facilities, which have been forward sold to the London Borough of Southwark.
The transaction exemplifies Helicals "equity light" strategy, targeting a return on equity of over 3.0x. Construction is set to begin in 2026, with completion by 2029, in time for the 2029/30 academic year. The JV will receive an initial payment of £35.2 million (Helicals share: £18.0 million) upon Gateway 2 approval, expected in the second half of 2026, returning all committed equity and including an interim profit of £20 million (Helicals share: £10.2 million). No further equity is anticipated, with remaining profits payable upon completion.
Places for London will own the PBSA building, generating sustainable long-term income for reinvestment into Londons transport network. The project is one of three sites being developed by the JV, with additional central London projects in the pipeline, potentially including more student accommodation using a similar equity light structure.
Key executives from both companies highlighted the transactions strategic importance, emphasizing the delivery of high-quality student housing, affordable homes, and its contribution to Londons growth and transport funding.
JV
EVST logo EVST

Final Results

Everest Global PLC

**Summary of Everest Global PLCs Final Results for the Year Ended 31 October 2025**
**Financial Performance**
**Revenue Growth** Revenue increased to £566,755 in 2025 from £437,768 in 2024, driven by the full contribution of a new retail store opened in January 2025.
**Loss Before Tax** The company reported a loss before tax of £1,105,279 in 2025, compared to a loss of £629,780 in 2024. The first half of 2025 showed strong performance, with a return to profitability before one-off items of £75,617.
**Gross Profit Margins** Margins improved due to better supplier terms and a favorable product mix.
**Administrative Expenses** Managed prudently, with a focus on operational discipline and future growth investment.
**Capital Management**
**Convertible Loan Notes (CLNs)** The outstanding balance of CLNs decreased to £2,537,520 in 2025 from £3,570,119 in 2024. In August 2025, £1,500,000 of CLNs were repaid to Surich Real Estate Opportunity Fund SPC (SPC). In November 2025, SPC subscribed for £1,500,000 in new CLNs to support working capital, capital expenditure, and potential acquisitions.
**Capital Re-Organisation** Shareholders approved a capital re-organisation in November 2025, involving the sub-division and re-classification of existing ordinary shares into new ordinary shares. The re-organisation resulted in 1 new ordinary share for every 200 existing shares, reducing the total number of shares from 77,388,855 to 386,945.
**Strategic Initiatives**
**Acquisition Strategy** Focus on expanding through acquisitions, investments, and joint ventures in the food and beverage industry, particularly in beverage distribution and production in the UK and Europe.
**Organic Growth** Scaling existing operations, including increasing stores and product lines for Precious Link (UK) Limited.
**Geographic Expansion** Plans to expand further in London and Southeast England.
**Category Extension** Introduction of premium tobacco, spirits, specialty beverages, and complementary product lines.
**Outlook**
**Growth Focus** Continued emphasis on acquisitions, investments, and joint ventures in the food and beverage sector.
**Capital Structure Management** Active management of the capital structure, including simplifying the CLN position and completing the capital re-organisation.
**Funding Requirements** Additional capital will be needed to invest in strategic opportunities.
**Corporate Governance and Compliance**
**Stakeholder Engagement** Commitment to engaging with customers, suppliers, shareholders, lenders, and staff to ensure alignment with strategic goals.
**Regulatory Compliance** Adherence to national and international laws and regulations, including human rights and social interaction standards.
**Key Performance Indicators (KPIs)**
**Turnover:** Increased to £566755 in 2025 from £437768 in 2024.
**Gross Profit:** Rose to £171362 in 2025 from £108054 in 2024.
**Cash on Hand:** Increased to £1063463 in 2025 from £279725 in 2024.
**Underlying Operating Loss** Improved to £1,085,087 in 2025 from £669,607 in 2024.
**Risks and Uncertainties**
**Financial Risks** Credit risk, liquidity risk, and foreign currency risk are actively managed.
**Operational Risks** Supply chain disruptions, regulatory compliance, and maintaining product quality are key concerns.
**Strategic Risks** Identifying suitable acquisition targets and adapting to changing consumer preferences are critical challenges.
**Conclusion**
Everest Global PLC demonstrated resilience and strategic focus in 2025, despite financial losses. The companys efforts in capital management, strategic acquisitions, and operational efficiency position it for future growth in the competitive food and beverage industry. The Board remains committed to delivering long-term value to shareholders through disciplined capital allocation and strategic expansion.
Here is the HTML table code comparing the financials and debt year on year for Everest Global PLC:
Financial MetricYear Ended 31 Oct 2025Year Ended 31 Oct 2024Change
Revenue£566,755£437,76829.4%
Gross Profit£171,362£108,05458.6%
Operating Loss(£1,085,087)(£669,607)-62.1%
Loss Before Tax(£1,105,279)(£629,780)-75.5%
Cash and Cash Equivalents£1,063,463£279,725280.2%
Convertible Loan Notes (CLNs)£2,537,520£3,570,119-28.9%
Total Debt (incl. CLNs)£2,732,712£3,635,775-24.9%

Notes:

  • Revenue and gross profit increased significantly year-on-year, driven by the full contribution of the new retail store opened in January 2025.
  • Operating loss and loss before tax worsened due to a £379,127 impairment of goodwill related to the acquisition of Precious Link (UK) Limited.
  • Cash and cash equivalents increased substantially due to financing activities, including the issuance of new CLNs and repayment of existing ones.
  • CLNs and total debt decreased as the company repaid £1,500,000 of CLNs in August 2025 and issued new CLNs post-year end.
This table provides a clear comparison of key financial metrics and debt levels between the two years, highlighting the significant changes and their drivers.
IPF logo IPF

Form 8.3

International Personal Finance PLC

SOI logo SOI

Holding(s) in Company

Schroder Oriental Income Fund

TR1 Buy
['Raymond James Wealth Management Limited', '5.000000', '5.010000']
JAR logo JAR

JC&C - 2025 FY Results and Dividend

Jardine Matheson Holdings Limited

Jardine Cycle & Carriage Limited (JC&C) reported its financial results for the year ended December 31, 2025, highlighting stable performance and strategic progress across its portfolio. Here’s a summary of the key points
### **Financial Highlights**
**Underlying Profit** US$1.110 billion, up 1% from 2024, driven by improvements in Vietnam and Singapore, offsetting challenges in Indonesia.
**Revenue** US$21.358 billion, down 4% from 2024, primarily due to lower contributions from Indonesia.
**Proposed Dividend** US¢85 per share (final), totaling US¢113 for the year, a 1% increase from 2024.
### **Regional Performance**
1. **Indonesia**
Contribution to underlying profitUS$945 million, down 8% due to lower contributions from Astra, particularly in mining services, coal mining, and new car sales.
Astra’s strategic initiatives include partnerships in the used car sector (ADMO with Toyota), acquisition of industrial and logistics properties (MMP), and increased stakes in healthcare platforms (Halodoc and Hermina).
United Tractors expanded into gold mining with the acquisition of Arafura Surya Alam.
2. **Vietnam**
Contribution to underlying profitUS$129 million, up 25%, led by strong performances from THACO (real estate) and REE (power generation).
JC&C increased its stake in REE to 41.7%.
3. **Singapore**
Cycle & Carriage reported a 49% increase in contribution to US$48 million, driven by strong commercial vehicle sales and used car business.
### **Strategic Developments**
**Divestments** Sold 4.6% and 3.5% stakes in Vinamilk for US$228 million and US$188 million, respectively, to focus on core portfolio.
**Debt Reduction** Reduced corporate net debt from US$816 million to US$577 million.
**Share Buybacks** Astra and United Tractors completed Rp2 trillion share buyback programs, reflecting confidence in future prospects.
### **Outlook**
**Indonesia** Operating environment remains challenging, but consumer sentiment may see moderate recovery.
**Vietnam** Expected to continue growing, supported by THACO and REE.
**Singapore** Anticipated to deliver resilient earnings.
### **Corporate Governance**
Samuel Tsien assumed the role of JC&C’s first independent chairman.
Ben Birks and Jeffery Tan stepped down as Group Managing Director and Company Secretary, respectively.
### **Conclusion**
JC&C demonstrated resilience in 2025, navigating regional challenges while advancing its strategic objectives. The company remains focused on sustainable value creation and delivering strong shareholder returns, supported by a diversified portfolio and disciplined capital management.
Here is the HTML table code comparing the financials and debt year on year for Jardine Cycle & Carriage Limited:
Metric2025 (US$m)2024 (US$m)Change (%)
Revenue21,35822,298-4%
Underlying Profit1,1101,1021%
Profit Attributable to Shareholders9989465%
Net Debt (excl. Astra's financial services)44235-81%
Net Debt (Astra's financial services)3,9003,7005%
Corporate Net Debt577816-29%

Key Observations:

  • Revenue decreased by 4% year-on-year, primarily due to lower contributions from Indonesia.
  • Underlying profit increased slightly by 1%, driven by improvements in Vietnam and Singapore, as well as foreign exchange gains and lower financing costs.
  • Net debt (excluding Astra's financial services) decreased significantly by 81%, mainly due to proceeds from the partial disposal of Vinamilk.
  • Corporate net debt decreased by 29%, reflecting the Group's focus on reducing debt and building financial flexibility.
**Note:** The above table and observations are based on the provided text. The actual financial statements and notes should be referred to for a comprehensive understanding of the company's financial performance and position.
WIZZ logo WIZZ

Holding(s) in Company

Wizz Air Holdings PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Barclays PLC', 'Below notifiable threshold', '0.170000']
UPL logo UPL

TR1

Upland Resources Ltd

WNX logo WNX

Half Yearly Report and Accounts

Wellnex Life Limited

**Summary of Wellnex Life Limiteds Half-Year Report (H1 FY26)**
**Key Highlights**
**Revenue Growth** Revenue increased by 8% to $12.9 million in H1 FY26 compared to the same period in FY25.
**Gross Margin Improvement** Gross margin rose significantly by 9.4 percentage points to 32.1%, driven by cost control and operational efficiency.
**Operating Breakeven** The company achieved operating breakeven in Q2 FY26, marking a turnaround in financial performance.
**Strategic Turnaround** Wellnex Life implemented a strategic turnaround focused on a leaner, more efficient operation, enhanced management processes, and tighter capital management.
**Funding Review** Post-period, the company is exploring funding options, including settling related party loans.
**Financial Performance**
**Revenue** $12.919 million, up 8% from H1 FY25, with brand sales contributing 72.3% and IP licensing the remainder.
**Loss Reduction** Loss from ordinary activities after tax decreased by 76.2% to $(1.793) million.
**Net Tangible Assets** Decreased slightly to $(13.06) cents per ordinary security from $(12.51) cents in the previous period.
**Operational Updates**
**Pain Away** Maintained market position with $7.0 million in sales, improved gross margin by 7.9%, and gained market share in heat patches and roll-ons.
**Wakey Wakey/Nighty Night** Consolidated underperforming SKUs, ceasing investments in these areas.
**Wagner Health Liquigesic** Launched Australias first TGA-approved soft gel liquid paracetamol, expanding product offerings and strengthening brand recognition.
**Mr Bright** Discontinued natural teeth whitening brand, planning to divest its intellectual property.
**Corporate Governance**
**Board Restructure** Reduced the number of directors from 7 to 3, with Ash Vesali appointed as Executive Chairman.
**Management Changes** Accepted resignations of Joint Chief Executive Officers, with Vesali overseeing both the Board and management during the transition.
**Going Concern**
Despite losses and net operating cash outflows, the company believes it can continue as a going concern, supported by
Stabilizing turnaround trajectory and increasing gross margins.
Potential asset monetization opportunities.
Targeted cost reduction program aiming for $1 million in annualized savings.
Ability to raise additional capital and access debt facilities.
**Conclusion**
Wellnex Life Limited demonstrated significant progress in H1 FY26, achieving revenue growth, gross margin improvement, and operating breakeven. The company remains focused on consistent performance and long-term shareholder value creation, while addressing financial challenges through strategic initiatives and funding exploration.
Here is the HTML table code comparing the financials and debt year on year for Wellnex Life Limited: tr>
Financial MetricH1 FY26 (Dec 2025)H1 FY25 (Dec 2024)Change
Revenue$12.9 million$11.962 million8% increase
Gross Margin32.1%22.7%9.4 percentage points increase
Loss from ordinary activities after tax($1.793 million)($7.526 million)76.2% decrease in loss
Net Tangible Assets per ordinary security (cents)(13.06)(12.51)Minor decrease
Total Current Liabilities - Borrowings$5.215 million$5.708 million8.6% decrease
Total Non-Current Liabilities - Borrowings$4.819 million$0 millionNew borrowing
Related Party Loans$2.969 million$2.856 million4% increase
**Key Observations:** - Revenue increased by 8% year on year, driven by brand sales. - Gross margin improved significantly by 9.4 percentage points due to cost control and operational efficiency. - Loss from ordinary activities after tax decreased by 76.2%, indicating improved financial performance. - Borrowings decreased slightly for current liabilities but increased significantly for non-current liabilities due to new loans. - Related party loans increased marginally. This table provides a concise comparison of key financial metrics and debt levels between the two half-year periods.
RMV logo RMV

Announcement of Non-Discretionary Share Buyback Programme

Rightmove PLC

**Summary**
Rightmove plc, the UKs leading property website, announced a non-discretionary share buyback programme on February 27, 2026. The programme, set to run from March 2 to July 31, 2026, authorizes the purchase of ordinary shares for cancellation, with a maximum aggregate purchase price of £90 million. The buyback will be executed within pre-set parameters, adhering to the companys general authority, EU and UK Market Abuse Regulations, and Listing Rules. UBS AG London Branch has been appointed to manage the programme independently, following irrevocable instructions from Rightmove. The company confirmed it holds no unpublished price-sensitive information at the time of the announcement.
**Key Points**
**Programme Type** Non-discretionary share buyback.
**Duration:** March 22026 – July 312026.
**Maximum Spend** £90 million.
**Manager** UBS AG London Branch.
**Purpose** Purchase and cancellation of ordinary shares.
**Compliance** Adheres to EU/UK regulations and Listing Rules.
BuyBack
PSON logo PSON

Pearson 2025 Preliminary Results

Pearson PLC

**Summary of Pearson 2025 Preliminary Results**
**Financial Highlights and Performance**
**Revenue and Profit Growth**Pearson reported a 4% underlying sales growth to £3,577 million in 2025, with adjusted operating profit rising 6% to £614 million. Adjusted earnings per share increased by 4% to 64.5p.
**Cash Flow**Free cash flow grew by 8% to £527 million, with a strong cash conversion rate of 125%. Operating cash flow remained robust at £571 million.
**Dividends and Share Buybacks**A 5% increase in the full-year dividend to 25.2p per share was announced. A £350 million share buyback program is underway, reducing the share count by 5%.
**Strategic Progress**
**AI Integration**Significant advancements in scaling AI across products and services, improving learner outcomes and educator efficiency. AI is now a foundational capability within Pearson.
**Enterprise Strategy**Secured eight partnerships with industry leaders, including a strategic alliance with Salesforce, to expand into enterprise learning and skills development.
**Acquisitions**Acquired eDynamic Learning, a leading provider of digital Career and Technical Education, for £168 million, enhancing capabilities in early careers and workforce readiness.
**Segment Performance**
**Assessment & Qualifications**4% sales growth, driven by new contracts and digital expansion.
**Virtual Learning**8% sales growth, with strong enrolment increases and AI-driven enhancements.
**Higher Education**2% sales growth, supported by AI tools and Inclusive Access offerings.
**English Language Learning**1% sales growth, with PTE Express and institutional expansions.
**Enterprise Learning & Skills**6% sales growth, led by vocational qualifications and enterprise solutions.
**Outlook for 2026**
**Sales Growth**Mid-single digit underlying sales growth expected.
**Profit Guidance**Adjusted operating profit projected at £640–£685 million, with free cash flow conversion of 90–100%.
**Focus Areas**Continued AI integration, enterprise expansion, and core business strengthening.
**Leadership and Governance**
**Executive Change**: Sally JohnsonGroup CFOwill leave in 2026. Simon Robsoncurrently CFO at Skywill succeed herensuring a smooth transition.
**Conclusion**
Pearson demonstrated strong financial and strategic performance in 2025, driven by AI innovation, enterprise partnerships, and operational efficiency. The company is well-positioned for continued growth in 2026, with a focus on leveraging AI to meet the evolving needs of learners and enterprises.
Here is the HTML table code comparing Pearson's financials and debt year on year:
Metric2025 (£m)2024 (£m)Change
Sales3,5773,552+1% (headline), +4% (underlying)
Adjusted Operating Profit614600+2% (headline), +6% (underlying)
Operating Cash Flow571662-14%
Free Cash Flow527490+8%
Net Debt1,069853+25%
Net Debt / Adjusted EBITDA1.3x1.1xN/A
Adjusted Earnings per Share (pence)64.562.1+4%
Dividend per Share (pence)25.224.0+5%

Key Observations:

  • Sales grew by 1% on a headline basis and 4% on an underlying basis, driven by growth in Assessment & Qualifications, Virtual Learning, and Enterprise Learning & Skills.
  • Adjusted operating profit increased by 2% on a headline basis and 6% on an underlying basis, with margin expansion from 16.9% to 17.2%.
  • Operating cash flow decreased by 14% due to an increase in working capital, while free cash flow increased by 8%.
  • Net debt increased by 25% primarily due to the share buyback program, acquisitions, and dividend payments.
  • Adjusted earnings per share grew by 4%, and the dividend per share increased by 5%.
This table provides a clear comparison of Pearson's key financial metrics and debt position between 2025 and 2024, highlighting both headline and underlying growth rates where applicable.
RAT logo RAT

Rathbones FY2025 Preliminary Results

Rathbone Brothers PLC

**Summary of Rathbones Group PLCs FY2025 Preliminary Results**
**Financial Highlights**
**Profit Before Tax (PBT)** Increased by 53.5% to £152.9 million, driven by synergy delivery and reduced integration costs.
**Underlying PBT** Rose 4.6% to £238.1 million, supported by £76 million in annualized synergy benefits, exceeding the £60 million target.
**Funds Under Management and Administration (FUMA):** Grew 5.9% to £115.6 billion, despite market volatility in the first half.
**Operating Income** Increased 3.1% to £923.3 million, with net interest income rising to £86.7 million due to IW&I client migration.
**Dividend** Total dividend for the year increased 6.5% to 99.0p per share, reflecting confidence in long-term growth.
**Strategic Progress**
**Integration of Investec Wealth & Investment (IW&I):** Successfully completed, with synergy delivery ahead of schedule and integration costs reduced to £39.9 million.
**Share Buyback** Completed a £50 million buyback in February 2026, with an additional £20 million extension announced.
**Operational Efficiency** Progressed towards a 30% underlying operating margin target by Q4 2026, reaching 25.8% in 2025.
**Strategic Priorities**
1. **Client-Centric Focus** Aiming to be the first choice for clients by enhancing investment capabilities, financial planning, and service experience.
2. **Talent Development** Focused on attracting and retaining top talent through a great culture, motivating incentives, and AI-powered tools.
3. **Operational Excellence** Simplifying operations, leveraging data, and consolidating platforms to improve efficiency and scalability.
4. **Brand Reputation** Building a distinctive, trusted brand through leadership, purpose, and effective communication.
**Leadership and Governance**
**CEO Transition** Jonathan Sorrell appointed as Group CEO, bringing fresh perspective and deep experience.
**Board Succession** Planned changes include a new Senior Independent Director and the departure of Sarah Gentleman.
**Outlook**
**Market Position** Competing from a position of strength in a growing market, with significant opportunities ahead.
**Financial Targets** On track to achieve 30% underlying operating margin by Q4 2026, assuming 3% FUMA growth and stable economic conditions.
**Conclusion**
Rathbones Group PLC demonstrated strong financial performance in FY2025, driven by successful integration, synergy realization, and strategic initiatives. The company is well-positioned for future growth, with a clear vision to become the best wealth manager in the UK, supported by a refreshed leadership team and a focus on client, talent, operational, and brand excellence.
Here is a comparison of the financials and debt year on year for Rathbones Group PLC, presented as an HTML table:
Metric20242025Change
Operating Income (£m)895.9923.3+3.1%
Underlying Operating Expenses (£m)(668.3)(685.2)+2.5%
Underlying Profit Before Tax (£m)227.6238.1+4.6%
Profit Before Tax (£m)99.6152.9+53.5%
Earnings Per Share (p)63.0107.9+71.3%
Dividend Per Share (p)93.099.0+6.5%
Funds Under Management and Administration (£bn)109.2115.6+5.9%
Integration Costs (£m)(75.5)(39.9)-47.1%
Net Interest Income (£m)63.986.7+35.7%
Return on Capital Employed (ROCE)4.8%8.3%+73.0%
**Key Observations:** - **Profit Before Tax:** Increased significantly by 53.5% due to synergy delivery, higher average Funds Under Management and Administration (FUMA), and reduced integration costs. - **Earnings Per Share:** Rose by 71.3%, reflecting the improved profitability and share buyback program. - **Dividend Per Share:** Increased by 6.5%, demonstrating the company's commitment to returning value to shareholders. - **Funds Under Management and Administration (FUMA):** Grew by 5.9%, driven by market recovery and successful integration of Investec Wealth & Investment (IW&I). - **Integration Costs:** Decreased by 47.1%, indicating progress in the integration process and realization of synergies. - **Net Interest Income:** Increased by 35.7%, primarily due to the migration of IW&I clients onto the Rathbones banking model and synergy benefits. - **Return on Capital Employed (ROCE):** Improved by 73.0%, reflecting better utilization of capital and increased profitability. This table provides a concise comparison of key financial metrics and debt-related items, highlighting the year-on-year changes and trends for Rathbones Group PLC.
WKS logo WKS

Preliminary Results For Year Ended 31 Dec 2025

Winking Studios Limited

**Summary of Winking Studios Limited Preliminary Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Winking Studios reported a 42.6% increase in revenue to US$45.5 million in FY2025, driven by the acquisition of Mineloader (US$11.4 million contribution) and organic growth of 8.6%. Excluding Mineloader, underlying revenue growth was 7.0%.
**Gross Profit** Gross profit rose 43.2% to US$13.5 million, with a stable gross margin of 29.8%.
**Adjusted EBITDA** Increased by 13.2% to US$5.4 million, despite higher public listing costs and expanded operational costs post-acquisitions.
**Adjusted Net Profit** Rose to US$3.0 million from US$0.3 million in FY2024, reflecting improved operational efficiency and scale.
**Cash Position** Ended FY2025 with US$28.8 million in cash, cash equivalents, and bond investments, maintaining a debt-free status.
**Strategic Highlights**
**Acquisition of Mineloader** Successfully integrated Mineloader, adding AAA console capabilities and significantly expanding the studio network.
**Launch of Vertic Studios** Established a new high-end art production brand in Southeast Asia, focusing on AAA projects with English-speaking teams.
**Expansion of AAA Titles** Increased the number of AAA titles worked on from 14 in FY2024 to 117 in FY2025, supported by Mineloader and the expanded studio network.
**Headcount Growth** Employee count increased by 68.6% to 1,426, reflecting the addition of Mineloader and continued investment in Southeast Asia.
**Geographic Performance**
**Mainland China and Hong Kong** Remained the largest revenue contributor, increasing 51.1% to US$16.7 million.
**United States** Revenue more than doubled to US$7.3 million, primarily due to Mineloaders contribution.
**Repeat Revenue** Represented 32.8% of total revenue, down from 41.4% in FY2024, due to the larger mix of console projects post-Mineloader acquisition.
**Outlook**
**Revenue Visibility** Indicative artist bookings of at least US$48.6 million over the next 24 months, with approximately US$34.6 million expected to be recognized as revenue in FY2026.
**Market Conditions** Global games market is entering a recovery phase, with outsourcing demand exceeding earlier expectations, though price sensitivity remains.
**Strategic Priorities** Focus on establishing an operational presence in Western markets and pursuing selective M&A opportunities.
**Board Confidence** Supported by favorable market drivers, strong revenue visibility, increased capacity, and a robust balance sheet, the Board is confident in the Groups positioning for FY2026 and its ability to execute its growth strategy.
**CEOs Statement**
Johnny Jan, CEO, highlighted FY2025 as a standout year with strong growth, meaningful scaling, and successful integration of Mineloader. He emphasized the recovery in organic momentum in the second half and the step-change in AAA delivery. Looking ahead, the focus is on executing the next stage of growth, including investing in Southeast Asia and establishing a Western market presence. The CEO expressed confidence in the Groups strategy and ability to deliver sustainable value for shareholders, supported by a strong balance sheet and favorable market conditions.
Here’s an HTML table comparing the financials and debt of Winking Studios Limited for FY2025 and FY2024:
MetricFY2025 (US$ million)FY2024 (US$ million)Change (%)
Revenue45.531.9+42.6%
Gross Profit13.59.5+42.1%
Gross Margin (%)29.7%29.8%+0.1 percentage point
Adjusted EBITDA5.44.8+12.5%
Adjusted EBITDA Margin (%)12.0%15.1%-3.1 percentage points
EBITDA3.42.0+70.0%
Adjusted Net Profit3.03.4-11.8%
Net Profit0.30.5-40.0%
Cash, Cash Equivalents, and Bond Investments28.841.3-30.3%
Debt000%
### Key Highlights: 1. **Revenue Growth**: Revenue increased by 42.6% from FY2024 to FY2025, driven by organic growth and the acquisition of Mineloader. 2. **Gross Profit**: Gross profit rose by 42.1%, in line with revenue growth, while gross margin remained stable. 3. **Adjusted EBITDA**: Adjusted EBITDA grew by 12.5%, though the margin decreased due to higher expenses. 4. **Net Profit**: Net profit declined by 40.0%, primarily due to increased operating costs and non-recurring gains in FY2024. 5. **Cash Position**: Cash and cash equivalents decreased by 30.3% due to the acquisition of Mineloader, but the company remains debt-free. This table provides a clear comparison of key financial metrics and debt position year-on-year.
LDG logo LDG

Portfolio NAV Update

Logistics Development Group PLC

**Summary**
Logistics Development Group PLC (LDG) released its quarterly portfolio update on February 27, 2026, announcing an unaudited estimated net asset value (NAV) per share of 26.7 pence as of December 31, 2025, unchanged from the previous quarter. The NAV was assessed by LDGs investment manager, DBAY, using international valuation guidelines.
**Portfolio Highlights**
1. **Finsbury Food Group Ltd (25.31% stake):**
Generated £445 million in revenue (FY June 2025) from its specialty bakery business.
Acquired Lolas Cupcakes, entering the direct-to-consumer market.
Completed a refinancing in January 2026, returning £11.4 million in capital to LDG, reducing exposure to £2.8 million.
2. **SQLI SA (10.73% stake)**
A pan-European IT services company with revenue of €252 million (FY December 2025).
Outperformed market peers with improved EBITDA margins in FY2025.
Implemented operational improvements and AI-driven initiatives to enhance profitability.
3. **Alliance Pharma plc (24.54% stake)**
Delivered £144 million in revenue (FY December 2025) from consumer healthcare products.
Disposed of small prescription brands, reducing debt and de-risking LDGs investment.
Optimized its China go-to-market strategy with a new distributor for Kelo-Cote.
4. **WS Holdco Limited (42.60% stake, increasing to 51.3% post-investment):**
Acquired WS companies and established WS People Providers for staffing services.
Focused on scaling through complementary acquisitions and improving efficiency.
Received a £10 million investment from LDG in January 2026 to support growth.
**Investment Managers Summary**
LDGs portfolio demonstrated solid growth and profitability in FY2025, despite macro volatility. The companys focus on stable, infrastructure-like sectors (e.g., bakeries, consumer health) and AI-driven cost reductions has proven effective. With a fully invested portfolio, LDG is now concentrating on value creation through operational improvements, overhead optimization, and management strengthening. The performance underscores the success of LDGs disciplined investment approach, emphasizing cash generation and attractive valuations.
Below is the HTML table code comparing the financials and debt (where available) year-on-year for the investments in Logistics Development Group PLC's portfolio, based on the provided text:
CompanyLDG's Economic InterestTotal Investment at Cost (£m)Revenue (Latest Financial Year)Revenue (Previous Year)Debt/Refinancing Details
Finsbury Food Group Ltd25.31%14.2£445m (FY June 2025)N/ARefinanced in Jan 2026; £11.4m return of capital, reducing exposure to £2.8m
SQLI SA10.73%13.3€252m (FY Dec 2025, Unaudited)N/AImproved EBITDA margin in FY2025 vs FY2024
Alliance Pharma plc24.54%39.0£144m (FY Dec 2025, Unaudited)N/ADisposed of prescription brands in Jan 2026; proceeds used to pay down debt
WS Holdco Limited42.60% (increasing to 51.3% post-investment)15.0 (additional £10m reallocated in Jan 2026)N/AN/A£10m investment reallocated from Finsbury's return of capital in Jan 2026
Other Minority Interests2.71%2.3N/AN/AN/A
### Notes: 1. **Revenue Comparison**: The table includes the latest revenue figures for each company. Since the previous year's revenue is not provided in the text, it is marked as "N/A". 2. **Debt/Refinancing**: Details on debt reduction or refinancing activities are included where mentioned in the text. 3. **WS Holdco**: Revenue data is not available, hence marked as "N/A". The investment increase is noted in the debt/refinancing column. 4. **Other Minority Interests**: No specific financial or debt details are provided, hence marked as "N/A". This table provides a clear comparison of key financials and debt-related activities for each investment in LDG's portfolio.
BBOX logo BBOX

Results for the year ended 31 December 2025

Tritax Big Box REIT plc

**Summary**
Tritax Big Box REIT plc, a UK-based real estate investment trust, announced its final results for the year ended December 31, 2025, highlighting strong momentum across its growth drivers. The company reported record rental reversion, growing logistics development momentum, and data centers primed for launch. Key financial highlights include a 10.6% increase in net rental income to £305.3 million, a 6.1% rise in operating profit to £281.6 million, and an 11.0% growth in adjusted earnings to £223.8 million. The company also declared a dividend per share of 8.00p, up 4.4% from the previous year.
**Key Points**
1. **Financial Performance**
Net rental income increased by 10.6% to £305.3 million, driven by the full contribution from the UKCM acquisition and asset management initiatives.
Operating profit rose by 6.1% to £281.6 million, and adjusted earnings grew by 11.0% to £223.8 million.
Adjusted earnings per share (excluding additional DMA income) increased by 4.1% to 8.38p.
Dividend per share was raised by 4.4% to 8.00p, with a dividend payout ratio of 95%.
2. **Portfolio Growth and Development**
Total portfolio value increased by 20.5% to £7.89 billion, with a stable equivalent yield of 5.7%.
Contracted annual rent roll grew by 15.1% to £360.9 million, and EPRA Net Tangible Assets per share increased by 1.2% to 187.76p.
The company has a strong development pipeline, with 1.8 million sq ft under construction and a potential rental income of £19.6 million, 53% of which is pre-let.
3. **Strategic Initiatives**
Successful integration of the UKCM logistics assets and the Blackstone portfolio acquisition, creating a 20% exposure to urban logistics.
Launch of a data center program with a power-first approach, assembling a high-quality pipeline and making significant progress.
Capital recycling strategy, with £415.5 million of disposals completed or exchanged, allowing reinvestment into higher-returning opportunities.
4. **Balance Sheet and Credit Rating**
Loan-to-value (LTV) ratio increased to 33.2%, within the target range of <mark style="background-color:yellow">below</mark> 35%.
Upgraded credit rating from Moodys to A3 (stable) from Baa1 (positive).
Inclusion in the FTSE 100 index from March 2, 2026.
5. **Outlook and Growth Drivers**
The company aims to capture record rental reversion, develop best-in-class logistics assets, and generate exceptional returns through data center development.
Targeted to achieve 50% growth in adjusted earnings by the end of 2030.
Anticipated acceleration in adjusted EPS growth rate in 2026, driven by asset management opportunities and development progress.
**Conclusion**
Tritax Big Box REIT plc demonstrated robust financial performance and strategic progress in 2025, positioning itself for continued growth in the logistics and data center sectors. With a strong balance sheet, upgraded credit rating, and inclusion in the FTSE 100, the company is well-placed to execute its growth strategy and deliver value to shareholders.
Here is a comparison of the financials and debt year on year for Tritax Big Box REIT PLC, presented as an HTML table:
Metric20242025Change
Net rental income (£m)£276.0£305.310.6%
Operating profit (£m)£265.3£281.66.1%
Adjusted earnings (£m)£201.7£223.811.0%
Adjusted earnings per share (pence)8.05p8.38p4.1%
IFRS earnings per share (pence)19.67p14.39p-26.8%
Dividend per share (pence)7.66p8.00p4.4%
Total Accounting Return (%)9.0%5.5%-3.5pts
Contracted annual rent roll (£m)£313.5£360.915.1%
Portfolio value (£bn)£6.55£7.8920.5%
Loan to value (LTV) (%)28.8%33.2%+4.4pts
**Key Observations:** - **Net rental income** increased by 10.6%, driven by the full contribution from the UKCM acquisition and asset management initiatives. - **Adjusted earnings** grew by 11.0%, reflecting the increase in net rental income and cost-efficient structure. - **IFRS earnings per share** decreased by 26.8%, likely due to non-recurring items or fair value adjustments. - **Portfolio value** increased significantly by 20.5%, primarily due to the acquisition of the Blackstone portfolio. - **Loan to value (LTV)** increased by 4.4pts, reflecting the debt-financed element of the Blackstone acquisition. This table provides a concise comparison of key financial metrics and debt levels for Tritax Big Box REIT PLC between 2024 and 2025.
MRO logo MRO

FINAL RESULTS

Melrose Industries PLC

Melrose Industries PLC, a global aerospace and defense company, reported strong financial results for the year ended December 31, 2025, with revenue growth of 8% to £3.589 billion and adjusted operating profit up 23% to £647 million. The companys performance was driven by increased demand in the Engines and Defence segments, as well as the successful completion of a multi-year transformation program. Key highlights include
Revenue growth of 8% to £3.589 billion, with like-for-like growth of 8%
Adjusted operating profit up 23% to £647 million, with margins improving by 240 basis points to 18.0%
Free cash flow generation of £125 million, a significant improvement from the previous years outflow of £74 million
Completion of a multi-year transformation program, providing a strong foundation for future growth
Strong commercial progress, including key customer contract wins and new partnerships
Quality and productivity gains achieved in a complex operating environment
New share buyback program of £175 million announced
Increase in final dividend to 4.8p, taking the full-year dividend to 7.2p, a 20% increase
The companys Engines segment saw revenue growth of 15% to £1.632 billion, driven by strong performance in both original equipment and aftermarket sales. The Airframes segment, renamed from Structures, saw revenue growth of 3% to £1.957 billion, with strong performance in the Defence sub-segment.
Melroses CEO, Peter Dilnot, expressed confidence in the companys future prospects, stating that the company is well-positioned to benefit from expected production ramp-ups and ongoing aftermarket expansion. The company expects to deliver further growth in revenue, profit, and cash flow in 2026, with a clear path to achieving its 2029 targets.
In terms of financial metricsMelrose reported
Adjusted diluted EPS up 25% to 32.1 pence
Net debt of £1.407 billionwith leverage of 1.8x
Return on capital employed (ROCE) of 18.0%
The companys strong performance and positive outlook were reflected in its share price, which increased by 5% on the day of the announcement. Overall, Melrose Industries PLCs 2025 results demonstrate the companys successful transformation and strong positioning in the aerospace and defense industry, with a clear strategy for future growth and value creation.
Here is the HTML table code comparing the financials and debt year on year for Melrose Industries PLC:
Metric2025 (£m)2024 (£m)Change
Revenue3,5893,4688% increase
Operating Profit64754023% increase
Profit Before Tax51543821% increase
Free Cash Flow125(74)£199m increase
Net Debt1,4071,321£86m increase
Leverage (x)1.81.90.1x decrease
**Key Observations:** - Revenue increased by 8% from £3,468m in 2024 to £3,589m in 2025. - Operating profit increased significantly by 23% from £540m in 2024 to £647m in 2025. - Profit before tax also increased by 21% from £438m in 2024 to £515m in 2025. - Free cash flow turned positive, increasing by £199m from -£74m in 2024 to £125m in 2025. - Net debt increased by £86m from £1,321m in 2024 to £1,407m in 2025. - Leverage decreased slightly from 1.9x in 2024 to 1.8x in 2025. This table provides a concise comparison of key financial metrics and debt levels for Melrose Industries PLC between 2024 and 2025.
SNR logo SNR

Discussions with Potential Offerors;Buyback update

Senior PLC

**Summary**
Senior PLC announced on February 27, 2026, that it is in discussions with multiple potential offerors regarding a possible takeover offer for the entire issued and to-be-issued share capital of the company. The Board has received several all-cash proposals, including two superior offers from different parties, but no firm offer has been made, and there is no certainty that an offer will materialize. The Board has postponed a planned £40 million buyback program due to these ongoing discussions. The company is now in an "offer period" under the City Code on Takeovers and Mergers, triggering specific disclosure requirements for shareholders and interested parties. The announcement also includes regulatory notices, details of financial advisers, and compliance information.
Offers
BLU logo BLU

Final Results

Blue Star Capital plc

**Summary of Blue Star Capital PLCs Final Results for the Year Ended 30 September 2025**
Blue Star Capital PLC, an investing company focused on blockchain and payments, announced its final results for the year ended 30 September 2025. Key highlights include
### **Financial Performance**
**Pre-tax Loss**Reduced to £665,606 from £4,491,966 in the prior year, primarily due to a significantly lower fair value movement on investments (£346,928 vs. £4,312,519 in 2024).
**Net Assets**Increased materially to £2,865,895 (2024: £937,381), driven by new equity capital raised and the increased carrying value of the investment in SatoshiPay Limited.
**Valuation of Investments**Increased to £1,553,643 (2024: £970,394), with the carrying value of the SatoshiPay investment at £1,526,492.
### **Strategic Investments**
**SatoshiPay Limited**Increased exposure through
A €75,000 subscription via a SAFE instrument.
Acquisition of 4,531 shares (22.0% of SatoshiPays issued share capital) in exchange for 4,412,096 new ordinary shares in Blue Star.
A £1000000 secured loan to SatoshiPaywith a fair value gain of £15246 recognized in profit or loss.
**Other Investments**Reduced carrying values of Dynasty Gaming & Media and Paidia Esports Inc. to £13,965 and £13,186, respectively, due to ongoing uncertainty.
### **Capital Activities**
**Share Consolidation and Subdivision**Completed a 200:1 share consolidation and subdivision, facilitating equity fundraisings, including £1.15 million raised in July 2025.
**Cash Position**Improved to £313,236 (2024: £5,828), with prudent cash management and alignment of directors remuneration with long-term shareholder value.
### **Operational Highlights**
**SatoshiPays Vortex Platform**Launched a fiat-to-crypto infrastructure platform, operational in Brazil, Europe, Argentina, and expanding to the US. Achieved over $10 million in transaction volumes in January 2026.
**Nabla.fi**Successfully integrated with DEX aggregators, generating yield on crypto tokens.
### **Outlook**
**Focus on Vortex**The success of Vortex and its impact on SatoshiPays valuation are critical to Blue Stars future. The Board believes its 58% stake in SatoshiPay could provide significant returns.
**Cost Management**Continued focus on eliminating non-essential spending and aligning directors remuneration with equity-linked instruments.
### **Corporate Governance**
**Annual General Meeting (AGM)**Scheduled for 24 March 2026 at Cairn Financial Advisers LLP, London. Shareholders are encouraged to vote via proxy.
### **Chairmans Statement**
Tony Fabrizi, Executive Chairman, emphasized the significant progress made by SatoshiPay, particularly through its Vortex platform, and the potential for substantial returns for Blue Star shareholders. The Board remains confident in SatoshiPays growth prospects despite valuation challenges.
### **Auditors Report**
Adler Shine LLP provided an unqualified opinion, highlighting key audit matters including the valuation of investments and going concern considerations. The Company is reliant on future fundraisings to continue operations, with material uncertainty noted.
### **Financial Statements**
Detailed financial statements, including the Statement of Comprehensive Income, Statement of Financial Position, and Cash Flow Statement, were provided, showing improvements in net assets, cash position, and investment valuations.
### **Post Balance Sheet Events**
Subscribed for additional €250000 in SatoshiPay via SAFE Notes.
Directors awarded warrants as partial remuneration in lieu of salary.
Settled the loan to SatoshiPay with a combination of SAFE Notes and cash repayment, reflecting the decline in the digital asset portfolios value.
Blue Star Capital remains focused on its strategic investments, particularly in SatoshiPay, with a cautious yet optimistic outlook for future growth and shareholder value.
Here is a comparison of Blue Star Capital's financials and debt year-on-year, presented as an HTML table:
Metric20242025Change
Pre-tax Loss (£)4,491,966665,606(85%)
Net Assets (£)937,3812,865,895206%
Cash Position (£)5,828313,2365,271%
Valuation of Investments (£)970,3941,553,64359%
Loan Receivable (£)01,015,246N/A
Administrative Expenses (£)162,309193,25719%
Share-based Payment Charge (£)0126,700N/A
Net Cash from Financing Activities (£)100,0001,585,0001,485%

Debt Comparison

Debt Type2024 (£)2025 (£)Change
Loan to SatoshiPay01,000,000N/A
Loan Repayment (2026)N/A-115,000N/A
SAFE Agreements (2026)N/A658,634N/A

Notes:

  • The loan to SatoshiPay was advanced in 2025 and partially repaid in 2026, with the remaining balance converted into SAFE agreements.
  • The SAFE agreements are not considered debt but rather a form of equity investment, as they provide downside protection and a valuation cap.
  • The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
**Key Takeaways:** * Blue Star Capital significantly reduced its pre-tax loss from £4.49 million in 2024 to £0.67 million in 2025, primarily due to lower fair value movements on investments. * Net assets and cash position increased substantially in 2025, driven by new equity capital raised and increased carrying value of investments. * The company advanced a £1 million loan to SatoshiPay in 2025, which was partially repaid in 2026, with the remaining balance converted into SAFE agreements. * Administrative expenses and share-based payment charges increased in 2025, reflecting higher professional costs and transaction activity. * The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
ARK logo ARK

Warrants Exercise & Website Launch

Arkle Resources PLC

**Summary**
Arkle Resources PLC (AIMARK), a multi-commodity exploration company focused on energy metals (uranium, lithium, zinc), announced the issuance of 10,000,000 new ordinary shares at 0.35 pence per share following the exercise of warrants, raising GBP 35,000. Post-admission of these shares on AIM (expected around March 4, 2026), the company’s total issued shares and voting rights will increase to 1,478,977,664. Arkle also launched a new website (www.arkleresources.com) reflecting its forward strategy and plans to release an updated investor presentation and host a webinar soon. The company highlighted its recent transformative acquisition of Namibia Uranium, which positions it as a leading explorer in energy metals, with projects in Namibia, Botswana, and Ireland.
**Key Points**
1. **Warrant Exercise:** 10000000 new shares issued at 0.35 penceraising GBP 35000.
2. **Total Shares Post-Admission** 1,478,977,664 ordinary shares.
3. **Website Launch** New website reflects updated strategy and includes project maps.
4. **Strategic Repositioning** Recent Namibia Uranium acquisition enhances Arkle’s focus on energy metals exploration.
5. **Upcoming Activities** Investor presentation and webinar planned for near future.
Launch
JUST logo JUST

Results for the year ended 31 December 2025

Just Group plc

**Summary of Just Group PLCs Final Results for the Year Ended 31 December 2025**
Just Group PLC reported its financial results for the year ended 31 December 2025, highlighting a year of strategic execution, disciplined pricing, and preparation for future growth amidst a competitive market. The company announced a proposed combination with Brookfield Wealth Solutions Ltd (BWS), expected to complete in the first half of 2026, which is seen as a significant opportunity for customers, shareholders, and colleagues.
**Financial Highlights**
**Underlying Operating Profit** Decreased by 39% to £305 million, primarily due to lower new business margins on reduced sales, partially offset by higher recurring in-force profit.
**Retirement Income Sales** Fell by 18% to £4.3 billion, with a strong growth in Guaranteed Income for Life (GIfL) sales partially offsetting a decline in Defined Benefit (DB) sales.
**GIfL Sales** Increased by 23% to £1.3 billion, reflecting improvements in the advisor proposition.
**DB Sales** Decreased by 28% to £3.1 billion, due to fewer medium-sized transactions in a competitive market.
**New Business Margins** Lower at 5.7%, impacted by increased competition, tighter spreads, lower volumes, and business mix.
**Solvency II Capital Coverage Ratio** Remained robust at 179%, despite a fall from the previous years 204%, due to new business growth and non-operating items.
**IFRS Performance** Tangible net assets increased to £2.7 billion, and adjusted profit before tax was £120 million, leading to an IFRS loss before tax of £(118) million.
**Strategic Developments**
**Proactive Capital Management** Just Group deliberately reduced volume in the DB market to manage capital resources and maintain pricing discipline.
**Market Outlook** Anticipates a rebound in the DB market in 2026, driven by renewed demand and a strong pipeline. The retail guaranteed income market is also expected to offer significant long-term growth potential.
**Sustainability** Achieved net zero emissions in its own operations (Scope 1 and 2) by 2025 and is on track to reduce Scope 3 emissions by 50% by 2030.
**Operational Excellence**
**DB Transactions** Completed a record 130 transactions, maintaining its position as the number one DB provider by deal number.
**Retail Business Growth** GIfL sales grew by 23%, benefiting from an improved advisor proposition and strong market demand.
**Future Prospects**
**Combination with BWS** Expected to enhance Just Groups reach, offering, and investment capabilities, positioning the company for continued growth and value creation.
**Market Opportunities** Well-positioned to capitalize on the DB market rebound and the long-term growth potential of the retail guaranteed income market.
In conclusion, Just Group PLCs 2025 results reflect a year of strategic discipline and preparation for future growth, with the proposed combination with BWS marking a significant step towards enhancing its market position and value proposition.
Here is the HTML table code comparing the financials and debt year on year for Just Group PLC:
RMV logo RMV

Annual Financial Report

Rightmove PLC

**Summary of Rightmove Plcs Annual Financial Report (2025)**
Rightmove Plc, the UKs leading property portal, reported strong financial and operational performance for the year ended 31 December 2025, highlighting accelerated innovation and clear value recognition from partners and consumers.
**Key Financial Highlights**
**Revenue and Profit Growth** Revenue increased by 9% to £425.1 million, with underlying operating profit up 9% to £297.7 million. Operating profit rose 12% to £287.9 million.
**Strategic Growth Areas** Combined revenue from Commercial Property, Mortgages, and Rental Services grew by 25% to £29.1 million.
**Earnings Per Share (EPS)** Basic EPS increased by 15% to 28.1p, and underlying EPS grew by 11% to 29.1p.
**Dividends and Share Buybacks** A final dividend of 6.59p per share (up 8%) was announced, with a total dividend of 10.64p. A £90 million share buyback program was also initiated, to be completed by 31 July 2026.
**Operational Achievements**
**Partner Engagement** Agency membership grew by 2%, with the second-highest retention rate in over 10 years. New AI-enabled products like Online Agent Valuation saw rapid adoption.
**Consumer Engagement** Record time spent on Rightmove (89% Comscore
75% SimilarWeb/data.ai/Sensor Tower) with over 85% of traffic direct and organic. AI-powered features enhanced user experience.
**Technology Innovation** Launched 24% more products/features, including conversational search and AI-driven tools, supported by a multi-year collaboration with Google Cloud.
**Market Trends and Outlook**
**Property Market** Supportive conditions with falling interest rates and mortgage costs. Sales transactions increased by 10% to 1.2 million, while rental demand remained strong.
**2026 Guidance** Revenue growth of 8-10% is expected, with strategic growth areas projected to grow by 20-30%. Underlying operating profit margin is forecast at 67% due to increased investment in innovation.
**Strategic Focus**
Rightmove is accelerating investment in AI-powered operations, consumer and partner innovation, and new growth initiatives to sustain double-digit growth. The company aims to deepen its role in digitizing the UK property market ecosystem, enhancing value for all stakeholders.
**Leadership and Sustainability**
CEO Johan Svanstrom emphasized Rightmoves commitment to innovation, sustainability, and community support, while Chair Andrew Fisher highlighted the companys resilience and strategic focus on long-term growth.
**Conclusion**
Rightmove Plc demonstrated robust financial performance, strategic innovation, and strong market positioning in 2025, setting a positive trajectory for continued growth and value creation in 2026 and beyond.
Here is the HTML table code comparing the financials and debt year on year for Rightmove Plc based on the provided text:
Metric20242025Change
Underlying operating profit (£m)504305(39%)
Retirement Income sales (£bn)5.34.3(18%)
New business profit (£m)460249(46%)
New business margin (%)8.7%5.7%(34%)
Solvency II capital coverage ratio (%)204%179%(12%)
Tangible net assets (£bn)2.62.74%
Cash generation (£m)1191309%
New business strain (% of premium)1.3%2.7%115%
Metric20252024Change% Change
Revenue£425.1m£389.9m£35.2m+9%
Operating Profit£287.9m£256.3m£31.6m+12%
Underlying Operating Profit£297.7m£273.9m£23.8m+9%
Final Dividend per Share6.59p6.10p0.49p+8%
Basic Earnings per Share28.1p24.4p3.7p+15%
Underlying Basic Earnings per Share29.1p26.2p2.9p+11%
Total Debt (not explicitly mentioned, but cash position is provided)£0 (debt-free)£0 (debt-free)£00%
Cash and Money Market Deposits£42.9m£41.3m£1.6m+4%
**Notes:** - The table includes the key financial metrics mentioned in the text, comparing 2025 and 2024. - Since the text does not explicitly mention debt, it is assumed that Rightmove Plc is debt-free based on the statement "Throughout the period, the Group was debt-free". - The cash position is included to provide insight into the company's liquidity. - All values are in GBP (£) and percentages are calculated based on the provided data.
SRT logo SRT

New $20.5m Systems Contract

SRT Marine Systems plc

Please provide the text you would like me to summarize. Im ready when you are!
NewContract
VOX logo VOX

Half-year Financial Report

Vox Valor Capital Ltd.

**Summary of Vox Valor Capital Limiteds Half-Year Financial Report (February 2026)**
**Overview**
Vox Valor Capital Limited (LSEVOX) released its unaudited interim financial statements for the six months ended 30 November 2025. The Group operates in mobile marketing and advertising through its subsidiaries: Mobio Global Limited (UK), Mobio Singapore Pte Ltd, and Mobio Global Inc. (US). The Group employs 30 contractors and employees across its subsidiaries.
**Financial Highlights**
**Revenue**USD 5.2 million (H1 2024: USD 6.2 million). The decline reflects a strategic shift to prioritize the US market, leading to reduced focus on lower-margin activities in the UK.
**Revenue Breakdown**
Mobio SingaporeUSD 3.2 million (H1 2024: USD 3.6 million).
Mobio Global USUSD 1.1 million (H1 2024: USD 0.6 million), showing significant growth due to increased investment.
Mobio Global UKUSD 0.9 million (H1 2024: USD 2.0 million), reflecting a strategic reduction in lower-margin activities.
**Operating Expenses**USD 4.6 million (H1 2024: USD 5.9 million), primarily due to cost management and reduced UK operations.
**Operating Profit (Loss)**USD 0.094 million (H1 2024: Loss of USD 0.255 million).
**Net Profit (Loss)**USD 0.004 million (H1 2024: Loss of USD 0.610 million).
**Strategic Focus**
The Group is prioritizing the US market, its largest addressable market, leading to increased investment in Mobio Global US.
Reduced emphasis on lower-margin activities in the UK, resulting in lower revenue and operating expenses in that region.
**Outlook**
The Board is cautiously optimistic about continued revenue growth and expense control despite inflationary pressures.
Evaluating acquisition and partnership opportunities in the mobile marketing and advertising sector, including Web3 and blockchain.
**Financial Position**
**Cash Balances**: USD 65000 as of 30 November 2025.
**Total Assets**USD 14.6 million.
**Total Equity**USD 8.6 million.
**Total Liabilities**USD 5.9 million, including long-term loans of USD 3.4 million.
**Risks and Uncertainties**
Principal risks remain unchanged from the annual report for the year ended 31 May 2025.
Exposure to foreign currency riskcredit riskand liquidity risk.
Monitoring geopolitical risks, including the impact of the Russia-Ukraine conflict.
**Corporate Governance**
DirectorsJohn G Booth (Chairman), Rumit Shah (Non-Executive Director), and Konstantin Khomyakov (Finance Director until 23 December 2025).
The Board confirmed the financial statements give a true and fair view of the Groups financial position.
**Conclusion**
Vox Valor Capital Limited is strategically refocusing on the US market, leading to revenue growth in the US but overall revenue decline. The Group is managing costs effectively and remains optimistic about future growth, while actively exploring expansion opportunities in the mobile marketing sector.
Here is the HTML table code comparing the financials and debt year on year for Vox Valor Capital Limited:
Financial MetricPeriod Ended 30 Nov 2025 (USD)Period Ended 30 Nov 2024 (USD)Change
Revenue5,170,7516,207,479(1,036,728)
Operating Expenses4,552,6935,850,502(1,297,809)
Operating Profit (Loss)94,211(254,613)348,824
Net Non-Operating Result431,9041,644430,260
Net Financial Result(449,616)(363,101)(86,515)
Profit (Loss) Before Tax76,499(616,070)692,569
Profit/(Loss) For The Period3,921(610,011)613,932
Total Comprehensive Income/(Loss)(214,106)(527,075)312,969
Cash and Cash Equivalents64,80953,23511,574
Total Debt (Long-term + Short-term)3,454,1433,247,952206,191

Debt Breakdown:

Debt Type30 Nov 2025 (USD)31 May 2025 (USD)Change
Long-term Debt3,421,3763,217,313204,063
Short-term Debt32,76730,6392,128

Notes:

  • Revenue decreased by USD 1,036,728, primarily due to a shift in focus towards the US market and reduced emphasis on lower-margin activities in the UK.
  • Operating expenses decreased by USD 1,297,809, mainly due to cost management and repositioning of the operating model.
  • Total debt increased by USD 206,191, with long-term debt increasing by USD 204,063 and short-term debt increasing by USD 2,128.
This HTML code creates two tables: 1. The first table compares key financial metrics year on year, including revenue, operating expenses, profits, and cash balances. 2. The second table breaks down the debt into long-term and short-term components, showing the changes between the two periods. The notes below the tables provide additional context for the changes in revenue, operating expenses, and debt.
REE logo REE

USTDA Grant Agreement for Monte Muambe Signed

Altona Rare Earths PLC

**Summary**
Altona Rare Earths PLC, a London-listed exploration and development company focused on critical raw materials in Africa, has signed a significant grant agreement with the United States Trade and Development Agency (USTDA) for its Monte Muambe rare earths project in Mozambique. The USTDA will provide a $1.875 million grant to fund the metallurgy and process engineering components of the projects prefeasibility study. This includes drilling, metallurgical <mark style="background-color:yellow">test</mark>ing, environmental and commercial studies, engagement with potential US off-take partners, and financial modeling. The partnership strengthens US supply chain security for critical minerals while supporting Mozambiques goal of becoming a major player in the global critical minerals market.
Key highlights
**Grant Agreement**USTDA provides $1.875 million for Monte Muambe rare earths project prefeasibility study.
**Strategic Partnership**Collaboration with US Government advances Altonas ambition to become a major Western source of magnet rare earths.
**Project Scope**Funding covers drilling, metallurgical testing, environmental studies, and engagement with US off-take partners.
**Critical Minerals Focus**Rare earths are essential for defense, technology, and clean energy applications.
**Company Portfolio**Altonas diversified strategy includes fluorspar, gallium, and copper-silver projects across Africa.
This agreement marks a transformative step for Altona, aligning with US strategic priorities and positioning the company for long-term growth in the critical raw materials sector.
Agreement
MDZ logo MDZ

Final Results

MediaZest plc

**MediaZest Plc Annual Financial Report Summary (FY25)**
**Financial Highlights**
**Revenue Growth** Increased by 35% to £4.154 million (FY24: £3.074 million).
**Gross Profit** Rose 47% to £2.346 million (FY24: £1.595 million), with a gross margin improvement to 56% (FY24: 52%).
**EBITDA:** Surged to £331000 (FY24: £14000).
**Profit After Tax** Returned to profitability at £98,000 (FY24: £214,000 loss).
**Earnings per Share** Improved to 0.0058 pence (FY24: 0.0133 pence loss).
**Cash Position** Strengthened to £99,000 (FY24: £64,000).
**Operational Highlights**
Delivered strong performance in the last four months of FY25, with significant projects for clients like First Rate, Pets at Home, Lululemon Athletica, Arcteryx, Kia, Hyundai, and Duty Free.
Signed a major contract with First Rate for digital currency board installations across 1,200 UK locations.
Continued expansion in Europe with projects for Lululemon Athletica and Arcteryx.
Appointed Keith Edelman as new Chairman in June 2025.
**Post Year-End Highlights**
**Debt Restructuring** Successfully restructured debt, writing off £529,000 in interest and repaying £785,609 over six years.
**Fundraising** Raised £215,000 through equity issuance, with Dr Graham Cooley as a new significant shareholder.
**Outlook**
Strong demand across retail, automotive, and corporate sectors, with FY26 targeting revenue of £5 million and profit after tax exceeding £250,000.
Focus on long-term recurring revenue contracts and potential M&A opportunities to enhance growth.
**Key Financial Metrics (FY25 vs FY24)**
**Metric**
**FY25 (£’000)**
**FY24 (£’000)**
Revenue
4154
3074
Gross Profit
2346
1595
EBITDA
331
14
Profit After Tax
98
(214)
Cash
99
64
**Conclusion**
MediaZest Plc demonstrated significant financial and operational improvement in FY25, returning to profitability and strengthening its balance sheet. With a robust pipeline of projects and strategic initiatives, the company is well-positioned for continued growth in FY26.
Below is the HTML table code comparing the financials and debt year on year for MediaZest Plc based on the provided text: < lang="en">MediaZest Plc Financials and Debt Comparison

MediaZest Plc Financials and Debt Comparison (FY25 vs FY24)

MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue4,1543,0741,08035%
Gross Profit2,3461,59575147%
EBITDA331143172,264%
Profit after Tax98(214)312-146%
Cash99643555%
Debt Principal (Post Restructuring)785.61,283(497.4)-39%
Interest Written Off529-529N/A
### Explanation: 1. **Revenue**: Increased by £1,080,000 (35%) from FY24 to FY25. 2. **Gross Profit**: Increased by £751,000 (47%) from FY24 to FY25. 3. **EBITDA**: Increased significantly by £317,000 (2,264%) from FY24 to FY25. 4. **Profit after Tax**: Improved by £312,000, turning from a loss of £214,000 in FY24 to a profit of £98,000 in FY25. 5. **Cash**: Increased by £35,000 (55%) from FY24 to FY25. 6. **Debt Principal**: Reduced by £497,400 (39%) post-restructuring in FY25 compared to FY24. 7. **Interest Written Off**: £529,000 was written off in FY25 as part of the debt restructuring. This table provides a clear comparison of key financial metrics and debt restructuring details between FY25 and FY24.
AI 1 news title 1
Acquisitions 2 news titles 2
Agreement 1 news title 1
REE logo REE

USTDA Grant Agreement for Monte Muambe Signed

Altona Rare Earths PLC

**Summary**
Altona Rare Earths PLC, a London-listed exploration and development company focused on critical raw materials in Africa, has signed a significant grant agreement with the United States Trade and Development Agency (USTDA) for its Monte Muambe rare earths project in Mozambique. The USTDA will provide a $1.875 million grant to fund the metallurgy and process engineering components of the projects prefeasibility study. This includes drilling, metallurgical <mark style="background-color:yellow">test</mark>ing, environmental and commercial studies, engagement with potential US off-take partners, and financial modeling. The partnership strengthens US supply chain security for critical minerals while supporting Mozambiques goal of becoming a major player in the global critical minerals market.
Key highlights
**Grant Agreement**USTDA provides $1.875 million for Monte Muambe rare earths project prefeasibility study.
**Strategic Partnership**Collaboration with US Government advances Altonas ambition to become a major Western source of magnet rare earths.
**Project Scope**Funding covers drilling, metallurgical testing, environmental studies, and engagement with US off-take partners.
**Critical Minerals Focus**Rare earths are essential for defense, technology, and clean energy applications.
**Company Portfolio**Altonas diversified strategy includes fluorspar, gallium, and copper-silver projects across Africa.
This agreement marks a transformative step for Altona, aligning with US strategic priorities and positioning the company for long-term growth in the critical raw materials sector.
Agreement
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Announcement of Non-Discretionary Share Buyback Programme

Rightmove PLC

**Summary**
Rightmove plc, the UKs leading property website, announced a non-discretionary share buyback programme on February 27, 2026. The programme, set to run from March 2 to July 31, 2026, authorizes the purchase of ordinary shares for cancellation, with a maximum aggregate purchase price of £90 million. The buyback will be executed within pre-set parameters, adhering to the companys general authority, EU and UK Market Abuse Regulations, and Listing Rules. UBS AG London Branch has been appointed to manage the programme independently, following irrevocable instructions from Rightmove. The company confirmed it holds no unpublished price-sensitive information at the time of the announcement.
**Key Points**
**Programme Type** Non-discretionary share buyback.
**Duration:** March 22026 – July 312026.
**Maximum Spend** £90 million.
**Manager** UBS AG London Branch.
**Purpose** Purchase and cancellation of ordinary shares.
**Compliance** Adheres to EU/UK regulations and Listing Rules.
BuyBack
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HLCL logo HLCL

Helical and PfL JV forward funds Southwark PBSA

Helical Bar Plc

**Summary**
Helical PLC and Places for London (Transport for Londons property company) have entered into a joint venture (JV) to forward fund and sell a purpose-built student accommodation (PBSA) project in Southwark, London, valued at over £200 million upon completion. The scheme includes 429 high-quality student studios, new retail space, and public realm enhancements, designed by AHMM. It also supports the delivery of 44 affordable homes and community facilities, which have been forward sold to the London Borough of Southwark.
The transaction exemplifies Helicals "equity light" strategy, targeting a return on equity of over 3.0x. Construction is set to begin in 2026, with completion by 2029, in time for the 2029/30 academic year. The JV will receive an initial payment of £35.2 million (Helicals share: £18.0 million) upon Gateway 2 approval, expected in the second half of 2026, returning all committed equity and including an interim profit of £20 million (Helicals share: £10.2 million). No further equity is anticipated, with remaining profits payable upon completion.
Places for London will own the PBSA building, generating sustainable long-term income for reinvestment into Londons transport network. The project is one of three sites being developed by the JV, with additional central London projects in the pipeline, potentially including more student accommodation using a similar equity light structure.
Key executives from both companies highlighted the transactions strategic importance, emphasizing the delivery of high-quality student housing, affordable homes, and its contribution to Londons growth and transport funding.
JV
Launch 2 news titles 2
IAG logo IAG

Launch of €500 million Share Buyback Programme

International Consolidated Airlines Group S.A

**Summary**
International Consolidated Airlines Group (IAG) announced the launch of a €500 million share buyback programme on February 27, 2026, aimed at reducing the companys share capital, pending shareholder approval. The programme, authorized by the 2025 Annual General Meeting, will be executed by Morgan Stanley Europe SE and Goldman Sachs Bank Europe SE, starting on March 2, 2026, and is expected to conclude by May 29, 2026.
Key details include
**Total Value** €500 million, with €374 million allocated for market purchases and €126 million for purchases from Qatar Airways.
**Qatar Airways Participation** Qatar Airways will maintain its 25.1434% stake in IAG by selling shares proportionally to the banks, rather than directly in the market.
**Scope** Up to 310,717,331 ordinary shares (6.57% of issued share capital) will be purchased on the London and Spanish Stock Exchanges.
**Price Limits** Shares will be bought at a price no higher than the lower of (i) the higher of the last independent trade or highest current bid, and (ii) 105% of the 5-day average market value.
**Daily Volume Cap** Purchases will not exceed 25% of the average daily trading volume over the preceding 20 days.
**Post-Purchase** Acquired shares will be held in treasury, with potential cancellation subject to shareholder approval at the next Annual General Meeting.
The programme complies with EU Market Abuse Regulation and related delegated regulations, ensuring transparency and fairness in execution.
Launch
ARK logo ARK

Warrants Exercise & Website Launch

Arkle Resources PLC

**Summary**
Arkle Resources PLC (AIMARK), a multi-commodity exploration company focused on energy metals (uranium, lithium, zinc), announced the issuance of 10,000,000 new ordinary shares at 0.35 pence per share following the exercise of warrants, raising GBP 35,000. Post-admission of these shares on AIM (expected around March 4, 2026), the company’s total issued shares and voting rights will increase to 1,478,977,664. Arkle also launched a new website (www.arkleresources.com) reflecting its forward strategy and plans to release an updated investor presentation and host a webinar soon. The company highlighted its recent transformative acquisition of Namibia Uranium, which positions it as a leading explorer in energy metals, with projects in Namibia, Botswana, and Ireland.
**Key Points**
1. **Warrant Exercise:** 10000000 new shares issued at 0.35 penceraising GBP 35000.
2. **Total Shares Post-Admission** 1,478,977,664 ordinary shares.
3. **Website Launch** New website reflects updated strategy and includes project maps.
4. **Strategic Repositioning** Recent Namibia Uranium acquisition enhances Arkle’s focus on energy metals exploration.
5. **Upcoming Activities** Investor presentation and webinar planned for near future.
Launch
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SRT logo SRT

New $20.5m Systems Contract

SRT Marine Systems plc

Please provide the text you would like me to summarize. Im ready when you are!
NewContract
Offers 2 news titles 2
SNR logo SNR

Discussions with Potential Offerors;Buyback update

Senior PLC

**Summary**
Senior PLC announced on February 27, 2026, that it is in discussions with multiple potential offerors regarding a possible takeover offer for the entire issued and to-be-issued share capital of the company. The Board has received several all-cash proposals, including two superior offers from different parties, but no firm offer has been made, and there is no certainty that an offer will materialize. The Board has postponed a planned £40 million buyback program due to these ongoing discussions. The company is now in an "offer period" under the City Code on Takeovers and Mergers, triggering specific disclosure requirements for shareholders and interested parties. The announcement also includes regulatory notices, details of financial advisers, and compliance information.
Offers
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Reports 17 news titles 17
WNX logo WNX

Half Yearly Report and Accounts

Wellnex Life Limited

**Summary of Wellnex Life Limiteds Half-Year Report (H1 FY26)**
**Key Highlights**
**Revenue Growth** Revenue increased by 8% to $12.9 million in H1 FY26 compared to the same period in FY25.
**Gross Margin Improvement** Gross margin rose significantly by 9.4 percentage points to 32.1%, driven by cost control and operational efficiency.
**Operating Breakeven** The company achieved operating breakeven in Q2 FY26, marking a turnaround in financial performance.
**Strategic Turnaround** Wellnex Life implemented a strategic turnaround focused on a leaner, more efficient operation, enhanced management processes, and tighter capital management.
**Funding Review** Post-period, the company is exploring funding options, including settling related party loans.
**Financial Performance**
**Revenue** $12.919 million, up 8% from H1 FY25, with brand sales contributing 72.3% and IP licensing the remainder.
**Loss Reduction** Loss from ordinary activities after tax decreased by 76.2% to $(1.793) million.
**Net Tangible Assets** Decreased slightly to $(13.06) cents per ordinary security from $(12.51) cents in the previous period.
**Operational Updates**
**Pain Away** Maintained market position with $7.0 million in sales, improved gross margin by 7.9%, and gained market share in heat patches and roll-ons.
**Wakey Wakey/Nighty Night** Consolidated underperforming SKUs, ceasing investments in these areas.
**Wagner Health Liquigesic** Launched Australias first TGA-approved soft gel liquid paracetamol, expanding product offerings and strengthening brand recognition.
**Mr Bright** Discontinued natural teeth whitening brand, planning to divest its intellectual property.
**Corporate Governance**
**Board Restructure** Reduced the number of directors from 7 to 3, with Ash Vesali appointed as Executive Chairman.
**Management Changes** Accepted resignations of Joint Chief Executive Officers, with Vesali overseeing both the Board and management during the transition.
**Going Concern**
Despite losses and net operating cash outflows, the company believes it can continue as a going concern, supported by
Stabilizing turnaround trajectory and increasing gross margins.
Potential asset monetization opportunities.
Targeted cost reduction program aiming for $1 million in annualized savings.
Ability to raise additional capital and access debt facilities.
**Conclusion**
Wellnex Life Limited demonstrated significant progress in H1 FY26, achieving revenue growth, gross margin improvement, and operating breakeven. The company remains focused on consistent performance and long-term shareholder value creation, while addressing financial challenges through strategic initiatives and funding exploration.
Here is the HTML table code comparing the financials and debt year on year for Wellnex Life Limited: tr>
Financial MetricH1 FY26 (Dec 2025)H1 FY25 (Dec 2024)Change
Revenue$12.9 million$11.962 million8% increase
Gross Margin32.1%22.7%9.4 percentage points increase
Loss from ordinary activities after tax($1.793 million)($7.526 million)76.2% decrease in loss
Net Tangible Assets per ordinary security (cents)(13.06)(12.51)Minor decrease
Total Current Liabilities - Borrowings$5.215 million$5.708 million8.6% decrease
Total Non-Current Liabilities - Borrowings$4.819 million$0 millionNew borrowing
Related Party Loans$2.969 million$2.856 million4% increase
**Key Observations:** - Revenue increased by 8% year on year, driven by brand sales. - Gross margin improved significantly by 9.4 percentage points due to cost control and operational efficiency. - Loss from ordinary activities after tax decreased by 76.2%, indicating improved financial performance. - Borrowings decreased slightly for current liabilities but increased significantly for non-current liabilities due to new loans. - Related party loans increased marginally. This table provides a concise comparison of key financial metrics and debt levels between the two half-year periods.
RMV logo RMV

Annual Financial Report

Rightmove PLC

**Summary of Rightmove Plcs Annual Financial Report (2025)**
Rightmove Plc, the UKs leading property portal, reported strong financial and operational performance for the year ended 31 December 2025, highlighting accelerated innovation and clear value recognition from partners and consumers.
**Key Financial Highlights**
**Revenue and Profit Growth** Revenue increased by 9% to £425.1 million, with underlying operating profit up 9% to £297.7 million. Operating profit rose 12% to £287.9 million.
**Strategic Growth Areas** Combined revenue from Commercial Property, Mortgages, and Rental Services grew by 25% to £29.1 million.
**Earnings Per Share (EPS)** Basic EPS increased by 15% to 28.1p, and underlying EPS grew by 11% to 29.1p.
**Dividends and Share Buybacks** A final dividend of 6.59p per share (up 8%) was announced, with a total dividend of 10.64p. A £90 million share buyback program was also initiated, to be completed by 31 July 2026.
**Operational Achievements**
**Partner Engagement** Agency membership grew by 2%, with the second-highest retention rate in over 10 years. New AI-enabled products like Online Agent Valuation saw rapid adoption.
**Consumer Engagement** Record time spent on Rightmove (89% Comscore
75% SimilarWeb/data.ai/Sensor Tower) with over 85% of traffic direct and organic. AI-powered features enhanced user experience.
**Technology Innovation** Launched 24% more products/features, including conversational search and AI-driven tools, supported by a multi-year collaboration with Google Cloud.
**Market Trends and Outlook**
**Property Market** Supportive conditions with falling interest rates and mortgage costs. Sales transactions increased by 10% to 1.2 million, while rental demand remained strong.
**2026 Guidance** Revenue growth of 8-10% is expected, with strategic growth areas projected to grow by 20-30%. Underlying operating profit margin is forecast at 67% due to increased investment in innovation.
**Strategic Focus**
Rightmove is accelerating investment in AI-powered operations, consumer and partner innovation, and new growth initiatives to sustain double-digit growth. The company aims to deepen its role in digitizing the UK property market ecosystem, enhancing value for all stakeholders.
**Leadership and Sustainability**
CEO Johan Svanstrom emphasized Rightmoves commitment to innovation, sustainability, and community support, while Chair Andrew Fisher highlighted the companys resilience and strategic focus on long-term growth.
**Conclusion**
Rightmove Plc demonstrated robust financial performance, strategic innovation, and strong market positioning in 2025, setting a positive trajectory for continued growth and value creation in 2026 and beyond.
Here is the HTML table code comparing the financials and debt year on year for Rightmove Plc based on the provided text:
Metric20252024Change% Change
Revenue£425.1m£389.9m£35.2m+9%
Operating Profit£287.9m£256.3m£31.6m+12%
Underlying Operating Profit£297.7m£273.9m£23.8m+9%
Final Dividend per Share6.59p6.10p0.49p+8%
Basic Earnings per Share28.1p24.4p3.7p+15%
Underlying Basic Earnings per Share29.1p26.2p2.9p+11%
Total Debt (not explicitly mentioned, but cash position is provided)£0 (debt-free)£0 (debt-free)£00%
Cash and Money Market Deposits£42.9m£41.3m£1.6m+4%
**Notes:** - The table includes the key financial metrics mentioned in the text, comparing 2025 and 2024. - Since the text does not explicitly mention debt, it is assumed that Rightmove Plc is debt-free based on the statement "Throughout the period, the Group was debt-free". - The cash position is included to provide insight into the company's liquidity. - All values are in GBP (£) and percentages are calculated based on the provided data.
VOX logo VOX

Half-year Financial Report

Vox Valor Capital Ltd.

**Summary of Vox Valor Capital Limiteds Half-Year Financial Report (February 2026)**
**Overview**
Vox Valor Capital Limited (LSEVOX) released its unaudited interim financial statements for the six months ended 30 November 2025. The Group operates in mobile marketing and advertising through its subsidiaries: Mobio Global Limited (UK), Mobio Singapore Pte Ltd, and Mobio Global Inc. (US). The Group employs 30 contractors and employees across its subsidiaries.
**Financial Highlights**
**Revenue**USD 5.2 million (H1 2024: USD 6.2 million). The decline reflects a strategic shift to prioritize the US market, leading to reduced focus on lower-margin activities in the UK.
**Revenue Breakdown**
Mobio SingaporeUSD 3.2 million (H1 2024: USD 3.6 million).
Mobio Global USUSD 1.1 million (H1 2024: USD 0.6 million), showing significant growth due to increased investment.
Mobio Global UKUSD 0.9 million (H1 2024: USD 2.0 million), reflecting a strategic reduction in lower-margin activities.
**Operating Expenses**USD 4.6 million (H1 2024: USD 5.9 million), primarily due to cost management and reduced UK operations.
**Operating Profit (Loss)**USD 0.094 million (H1 2024: Loss of USD 0.255 million).
**Net Profit (Loss)**USD 0.004 million (H1 2024: Loss of USD 0.610 million).
**Strategic Focus**
The Group is prioritizing the US market, its largest addressable market, leading to increased investment in Mobio Global US.
Reduced emphasis on lower-margin activities in the UK, resulting in lower revenue and operating expenses in that region.
**Outlook**
The Board is cautiously optimistic about continued revenue growth and expense control despite inflationary pressures.
Evaluating acquisition and partnership opportunities in the mobile marketing and advertising sector, including Web3 and blockchain.
**Financial Position**
**Cash Balances**: USD 65000 as of 30 November 2025.
**Total Assets**USD 14.6 million.
**Total Equity**USD 8.6 million.
**Total Liabilities**USD 5.9 million, including long-term loans of USD 3.4 million.
**Risks and Uncertainties**
Principal risks remain unchanged from the annual report for the year ended 31 May 2025.
Exposure to foreign currency riskcredit riskand liquidity risk.
Monitoring geopolitical risks, including the impact of the Russia-Ukraine conflict.
**Corporate Governance**
DirectorsJohn G Booth (Chairman), Rumit Shah (Non-Executive Director), and Konstantin Khomyakov (Finance Director until 23 December 2025).
The Board confirmed the financial statements give a true and fair view of the Groups financial position.
**Conclusion**
Vox Valor Capital Limited is strategically refocusing on the US market, leading to revenue growth in the US but overall revenue decline. The Group is managing costs effectively and remains optimistic about future growth, while actively exploring expansion opportunities in the mobile marketing sector.
Here is the HTML table code comparing the financials and debt year on year for Vox Valor Capital Limited:
Financial MetricPeriod Ended 30 Nov 2025 (USD)Period Ended 30 Nov 2024 (USD)Change
Revenue5,170,7516,207,479(1,036,728)
Operating Expenses4,552,6935,850,502(1,297,809)
Operating Profit (Loss)94,211(254,613)348,824
Net Non-Operating Result431,9041,644430,260
Net Financial Result(449,616)(363,101)(86,515)
Profit (Loss) Before Tax76,499(616,070)692,569
Profit/(Loss) For The Period3,921(610,011)613,932
Total Comprehensive Income/(Loss)(214,106)(527,075)312,969
Cash and Cash Equivalents64,80953,23511,574
Total Debt (Long-term + Short-term)3,454,1433,247,952206,191

Debt Breakdown:

Debt Type30 Nov 2025 (USD)31 May 2025 (USD)Change
Long-term Debt3,421,3763,217,313204,063
Short-term Debt32,76730,6392,128

Notes:

  • Revenue decreased by USD 1,036,728, primarily due to a shift in focus towards the US market and reduced emphasis on lower-margin activities in the UK.
  • Operating expenses decreased by USD 1,297,809, mainly due to cost management and repositioning of the operating model.
  • Total debt increased by USD 206,191, with long-term debt increasing by USD 204,063 and short-term debt increasing by USD 2,128.
This HTML code creates two tables: 1. The first table compares key financial metrics year on year, including revenue, operating expenses, profits, and cash balances. 2. The second table breaks down the debt into long-term and short-term components, showing the changes between the two periods. The notes below the tables provide additional context for the changes in revenue, operating expenses, and debt.
Results 26 news titles 26
EVST logo EVST

Final Results

Everest Global PLC

**Summary of Everest Global PLCs Final Results for the Year Ended 31 October 2025**
**Financial Performance**
**Revenue Growth** Revenue increased to £566,755 in 2025 from £437,768 in 2024, driven by the full contribution of a new retail store opened in January 2025.
**Loss Before Tax** The company reported a loss before tax of £1,105,279 in 2025, compared to a loss of £629,780 in 2024. The first half of 2025 showed strong performance, with a return to profitability before one-off items of £75,617.
**Gross Profit Margins** Margins improved due to better supplier terms and a favorable product mix.
**Administrative Expenses** Managed prudently, with a focus on operational discipline and future growth investment.
**Capital Management**
**Convertible Loan Notes (CLNs)** The outstanding balance of CLNs decreased to £2,537,520 in 2025 from £3,570,119 in 2024. In August 2025, £1,500,000 of CLNs were repaid to Surich Real Estate Opportunity Fund SPC (SPC). In November 2025, SPC subscribed for £1,500,000 in new CLNs to support working capital, capital expenditure, and potential acquisitions.
**Capital Re-Organisation** Shareholders approved a capital re-organisation in November 2025, involving the sub-division and re-classification of existing ordinary shares into new ordinary shares. The re-organisation resulted in 1 new ordinary share for every 200 existing shares, reducing the total number of shares from 77,388,855 to 386,945.
**Strategic Initiatives**
**Acquisition Strategy** Focus on expanding through acquisitions, investments, and joint ventures in the food and beverage industry, particularly in beverage distribution and production in the UK and Europe.
**Organic Growth** Scaling existing operations, including increasing stores and product lines for Precious Link (UK) Limited.
**Geographic Expansion** Plans to expand further in London and Southeast England.
**Category Extension** Introduction of premium tobacco, spirits, specialty beverages, and complementary product lines.
**Outlook**
**Growth Focus** Continued emphasis on acquisitions, investments, and joint ventures in the food and beverage sector.
**Capital Structure Management** Active management of the capital structure, including simplifying the CLN position and completing the capital re-organisation.
**Funding Requirements** Additional capital will be needed to invest in strategic opportunities.
**Corporate Governance and Compliance**
**Stakeholder Engagement** Commitment to engaging with customers, suppliers, shareholders, lenders, and staff to ensure alignment with strategic goals.
**Regulatory Compliance** Adherence to national and international laws and regulations, including human rights and social interaction standards.
**Key Performance Indicators (KPIs)**
**Turnover:** Increased to £566755 in 2025 from £437768 in 2024.
**Gross Profit:** Rose to £171362 in 2025 from £108054 in 2024.
**Cash on Hand:** Increased to £1063463 in 2025 from £279725 in 2024.
**Underlying Operating Loss** Improved to £1,085,087 in 2025 from £669,607 in 2024.
**Risks and Uncertainties**
**Financial Risks** Credit risk, liquidity risk, and foreign currency risk are actively managed.
**Operational Risks** Supply chain disruptions, regulatory compliance, and maintaining product quality are key concerns.
**Strategic Risks** Identifying suitable acquisition targets and adapting to changing consumer preferences are critical challenges.
**Conclusion**
Everest Global PLC demonstrated resilience and strategic focus in 2025, despite financial losses. The companys efforts in capital management, strategic acquisitions, and operational efficiency position it for future growth in the competitive food and beverage industry. The Board remains committed to delivering long-term value to shareholders through disciplined capital allocation and strategic expansion.
Here is the HTML table code comparing the financials and debt year on year for Everest Global PLC:
Financial MetricYear Ended 31 Oct 2025Year Ended 31 Oct 2024Change
Revenue£566,755£437,76829.4%
Gross Profit£171,362£108,05458.6%
Operating Loss(£1,085,087)(£669,607)-62.1%
Loss Before Tax(£1,105,279)(£629,780)-75.5%
Cash and Cash Equivalents£1,063,463£279,725280.2%
Convertible Loan Notes (CLNs)£2,537,520£3,570,119-28.9%
Total Debt (incl. CLNs)£2,732,712£3,635,775-24.9%

Notes:

  • Revenue and gross profit increased significantly year-on-year, driven by the full contribution of the new retail store opened in January 2025.
  • Operating loss and loss before tax worsened due to a £379,127 impairment of goodwill related to the acquisition of Precious Link (UK) Limited.
  • Cash and cash equivalents increased substantially due to financing activities, including the issuance of new CLNs and repayment of existing ones.
  • CLNs and total debt decreased as the company repaid £1,500,000 of CLNs in August 2025 and issued new CLNs post-year end.
This table provides a clear comparison of key financial metrics and debt levels between the two years, highlighting the significant changes and their drivers.
JAR logo JAR

JC&C - 2025 FY Results and Dividend

Jardine Matheson Holdings Limited

Jardine Cycle & Carriage Limited (JC&C) reported its financial results for the year ended December 31, 2025, highlighting stable performance and strategic progress across its portfolio. Here’s a summary of the key points
### **Financial Highlights**
**Underlying Profit** US$1.110 billion, up 1% from 2024, driven by improvements in Vietnam and Singapore, offsetting challenges in Indonesia.
**Revenue** US$21.358 billion, down 4% from 2024, primarily due to lower contributions from Indonesia.
**Proposed Dividend** US¢85 per share (final), totaling US¢113 for the year, a 1% increase from 2024.
### **Regional Performance**
1. **Indonesia**
Contribution to underlying profitUS$945 million, down 8% due to lower contributions from Astra, particularly in mining services, coal mining, and new car sales.
Astra’s strategic initiatives include partnerships in the used car sector (ADMO with Toyota), acquisition of industrial and logistics properties (MMP), and increased stakes in healthcare platforms (Halodoc and Hermina).
United Tractors expanded into gold mining with the acquisition of Arafura Surya Alam.
2. **Vietnam**
Contribution to underlying profitUS$129 million, up 25%, led by strong performances from THACO (real estate) and REE (power generation).
JC&C increased its stake in REE to 41.7%.
3. **Singapore**
Cycle & Carriage reported a 49% increase in contribution to US$48 million, driven by strong commercial vehicle sales and used car business.
### **Strategic Developments**
**Divestments** Sold 4.6% and 3.5% stakes in Vinamilk for US$228 million and US$188 million, respectively, to focus on core portfolio.
**Debt Reduction** Reduced corporate net debt from US$816 million to US$577 million.
**Share Buybacks** Astra and United Tractors completed Rp2 trillion share buyback programs, reflecting confidence in future prospects.
### **Outlook**
**Indonesia** Operating environment remains challenging, but consumer sentiment may see moderate recovery.
**Vietnam** Expected to continue growing, supported by THACO and REE.
**Singapore** Anticipated to deliver resilient earnings.
### **Corporate Governance**
Samuel Tsien assumed the role of JC&C’s first independent chairman.
Ben Birks and Jeffery Tan stepped down as Group Managing Director and Company Secretary, respectively.
### **Conclusion**
JC&C demonstrated resilience in 2025, navigating regional challenges while advancing its strategic objectives. The company remains focused on sustainable value creation and delivering strong shareholder returns, supported by a diversified portfolio and disciplined capital management.
Here is the HTML table code comparing the financials and debt year on year for Jardine Cycle & Carriage Limited:
Metric2025 (US$m)2024 (US$m)Change (%)
Revenue21,35822,298-4%
Underlying Profit1,1101,1021%
Profit Attributable to Shareholders9989465%
Net Debt (excl. Astra's financial services)44235-81%
Net Debt (Astra's financial services)3,9003,7005%
Corporate Net Debt577816-29%

Key Observations:

  • Revenue decreased by 4% year-on-year, primarily due to lower contributions from Indonesia.
  • Underlying profit increased slightly by 1%, driven by improvements in Vietnam and Singapore, as well as foreign exchange gains and lower financing costs.
  • Net debt (excluding Astra's financial services) decreased significantly by 81%, mainly due to proceeds from the partial disposal of Vinamilk.
  • Corporate net debt decreased by 29%, reflecting the Group's focus on reducing debt and building financial flexibility.
**Note:** The above table and observations are based on the provided text. The actual financial statements and notes should be referred to for a comprehensive understanding of the company's financial performance and position.
PSON logo PSON

Pearson 2025 Preliminary Results

Pearson PLC

**Summary of Pearson 2025 Preliminary Results**
**Financial Highlights and Performance**
**Revenue and Profit Growth**Pearson reported a 4% underlying sales growth to £3,577 million in 2025, with adjusted operating profit rising 6% to £614 million. Adjusted earnings per share increased by 4% to 64.5p.
**Cash Flow**Free cash flow grew by 8% to £527 million, with a strong cash conversion rate of 125%. Operating cash flow remained robust at £571 million.
**Dividends and Share Buybacks**A 5% increase in the full-year dividend to 25.2p per share was announced. A £350 million share buyback program is underway, reducing the share count by 5%.
**Strategic Progress**
**AI Integration**Significant advancements in scaling AI across products and services, improving learner outcomes and educator efficiency. AI is now a foundational capability within Pearson.
**Enterprise Strategy**Secured eight partnerships with industry leaders, including a strategic alliance with Salesforce, to expand into enterprise learning and skills development.
**Acquisitions**Acquired eDynamic Learning, a leading provider of digital Career and Technical Education, for £168 million, enhancing capabilities in early careers and workforce readiness.
**Segment Performance**
**Assessment & Qualifications**4% sales growth, driven by new contracts and digital expansion.
**Virtual Learning**8% sales growth, with strong enrolment increases and AI-driven enhancements.
**Higher Education**2% sales growth, supported by AI tools and Inclusive Access offerings.
**English Language Learning**1% sales growth, with PTE Express and institutional expansions.
**Enterprise Learning & Skills**6% sales growth, led by vocational qualifications and enterprise solutions.
**Outlook for 2026**
**Sales Growth**Mid-single digit underlying sales growth expected.
**Profit Guidance**Adjusted operating profit projected at £640–£685 million, with free cash flow conversion of 90–100%.
**Focus Areas**Continued AI integration, enterprise expansion, and core business strengthening.
**Leadership and Governance**
**Executive Change**: Sally JohnsonGroup CFOwill leave in 2026. Simon Robsoncurrently CFO at Skywill succeed herensuring a smooth transition.
**Conclusion**
Pearson demonstrated strong financial and strategic performance in 2025, driven by AI innovation, enterprise partnerships, and operational efficiency. The company is well-positioned for continued growth in 2026, with a focus on leveraging AI to meet the evolving needs of learners and enterprises.
Here is the HTML table code comparing Pearson's financials and debt year on year:
Metric2025 (£m)2024 (£m)Change
Sales3,5773,552+1% (headline), +4% (underlying)
Adjusted Operating Profit614600+2% (headline), +6% (underlying)
Operating Cash Flow571662-14%
Free Cash Flow527490+8%
Net Debt1,069853+25%
Net Debt / Adjusted EBITDA1.3x1.1xN/A
Adjusted Earnings per Share (pence)64.562.1+4%
Dividend per Share (pence)25.224.0+5%

Key Observations:

  • Sales grew by 1% on a headline basis and 4% on an underlying basis, driven by growth in Assessment & Qualifications, Virtual Learning, and Enterprise Learning & Skills.
  • Adjusted operating profit increased by 2% on a headline basis and 6% on an underlying basis, with margin expansion from 16.9% to 17.2%.
  • Operating cash flow decreased by 14% due to an increase in working capital, while free cash flow increased by 8%.
  • Net debt increased by 25% primarily due to the share buyback program, acquisitions, and dividend payments.
  • Adjusted earnings per share grew by 4%, and the dividend per share increased by 5%.
This table provides a clear comparison of Pearson's key financial metrics and debt position between 2025 and 2024, highlighting both headline and underlying growth rates where applicable.
RAT logo RAT

Rathbones FY2025 Preliminary Results

Rathbone Brothers PLC

**Summary of Rathbones Group PLCs FY2025 Preliminary Results**
**Financial Highlights**
**Profit Before Tax (PBT)** Increased by 53.5% to £152.9 million, driven by synergy delivery and reduced integration costs.
**Underlying PBT** Rose 4.6% to £238.1 million, supported by £76 million in annualized synergy benefits, exceeding the £60 million target.
**Funds Under Management and Administration (FUMA):** Grew 5.9% to £115.6 billion, despite market volatility in the first half.
**Operating Income** Increased 3.1% to £923.3 million, with net interest income rising to £86.7 million due to IW&I client migration.
**Dividend** Total dividend for the year increased 6.5% to 99.0p per share, reflecting confidence in long-term growth.
**Strategic Progress**
**Integration of Investec Wealth & Investment (IW&I):** Successfully completed, with synergy delivery ahead of schedule and integration costs reduced to £39.9 million.
**Share Buyback** Completed a £50 million buyback in February 2026, with an additional £20 million extension announced.
**Operational Efficiency** Progressed towards a 30% underlying operating margin target by Q4 2026, reaching 25.8% in 2025.
**Strategic Priorities**
1. **Client-Centric Focus** Aiming to be the first choice for clients by enhancing investment capabilities, financial planning, and service experience.
2. **Talent Development** Focused on attracting and retaining top talent through a great culture, motivating incentives, and AI-powered tools.
3. **Operational Excellence** Simplifying operations, leveraging data, and consolidating platforms to improve efficiency and scalability.
4. **Brand Reputation** Building a distinctive, trusted brand through leadership, purpose, and effective communication.
**Leadership and Governance**
**CEO Transition** Jonathan Sorrell appointed as Group CEO, bringing fresh perspective and deep experience.
**Board Succession** Planned changes include a new Senior Independent Director and the departure of Sarah Gentleman.
**Outlook**
**Market Position** Competing from a position of strength in a growing market, with significant opportunities ahead.
**Financial Targets** On track to achieve 30% underlying operating margin by Q4 2026, assuming 3% FUMA growth and stable economic conditions.
**Conclusion**
Rathbones Group PLC demonstrated strong financial performance in FY2025, driven by successful integration, synergy realization, and strategic initiatives. The company is well-positioned for future growth, with a clear vision to become the best wealth manager in the UK, supported by a refreshed leadership team and a focus on client, talent, operational, and brand excellence.
Here is a comparison of the financials and debt year on year for Rathbones Group PLC, presented as an HTML table:
Metric20242025Change
Operating Income (£m)895.9923.3+3.1%
Underlying Operating Expenses (£m)(668.3)(685.2)+2.5%
Underlying Profit Before Tax (£m)227.6238.1+4.6%
Profit Before Tax (£m)99.6152.9+53.5%
Earnings Per Share (p)63.0107.9+71.3%
Dividend Per Share (p)93.099.0+6.5%
Funds Under Management and Administration (£bn)109.2115.6+5.9%
Integration Costs (£m)(75.5)(39.9)-47.1%
Net Interest Income (£m)63.986.7+35.7%
Return on Capital Employed (ROCE)4.8%8.3%+73.0%
**Key Observations:** - **Profit Before Tax:** Increased significantly by 53.5% due to synergy delivery, higher average Funds Under Management and Administration (FUMA), and reduced integration costs. - **Earnings Per Share:** Rose by 71.3%, reflecting the improved profitability and share buyback program. - **Dividend Per Share:** Increased by 6.5%, demonstrating the company's commitment to returning value to shareholders. - **Funds Under Management and Administration (FUMA):** Grew by 5.9%, driven by market recovery and successful integration of Investec Wealth & Investment (IW&I). - **Integration Costs:** Decreased by 47.1%, indicating progress in the integration process and realization of synergies. - **Net Interest Income:** Increased by 35.7%, primarily due to the migration of IW&I clients onto the Rathbones banking model and synergy benefits. - **Return on Capital Employed (ROCE):** Improved by 73.0%, reflecting better utilization of capital and increased profitability. This table provides a concise comparison of key financial metrics and debt-related items, highlighting the year-on-year changes and trends for Rathbones Group PLC.
WKS logo WKS

Preliminary Results For Year Ended 31 Dec 2025

Winking Studios Limited

**Summary of Winking Studios Limited Preliminary Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Winking Studios reported a 42.6% increase in revenue to US$45.5 million in FY2025, driven by the acquisition of Mineloader (US$11.4 million contribution) and organic growth of 8.6%. Excluding Mineloader, underlying revenue growth was 7.0%.
**Gross Profit** Gross profit rose 43.2% to US$13.5 million, with a stable gross margin of 29.8%.
**Adjusted EBITDA** Increased by 13.2% to US$5.4 million, despite higher public listing costs and expanded operational costs post-acquisitions.
**Adjusted Net Profit** Rose to US$3.0 million from US$0.3 million in FY2024, reflecting improved operational efficiency and scale.
**Cash Position** Ended FY2025 with US$28.8 million in cash, cash equivalents, and bond investments, maintaining a debt-free status.
**Strategic Highlights**
**Acquisition of Mineloader** Successfully integrated Mineloader, adding AAA console capabilities and significantly expanding the studio network.
**Launch of Vertic Studios** Established a new high-end art production brand in Southeast Asia, focusing on AAA projects with English-speaking teams.
**Expansion of AAA Titles** Increased the number of AAA titles worked on from 14 in FY2024 to 117 in FY2025, supported by Mineloader and the expanded studio network.
**Headcount Growth** Employee count increased by 68.6% to 1,426, reflecting the addition of Mineloader and continued investment in Southeast Asia.
**Geographic Performance**
**Mainland China and Hong Kong** Remained the largest revenue contributor, increasing 51.1% to US$16.7 million.
**United States** Revenue more than doubled to US$7.3 million, primarily due to Mineloaders contribution.
**Repeat Revenue** Represented 32.8% of total revenue, down from 41.4% in FY2024, due to the larger mix of console projects post-Mineloader acquisition.
**Outlook**
**Revenue Visibility** Indicative artist bookings of at least US$48.6 million over the next 24 months, with approximately US$34.6 million expected to be recognized as revenue in FY2026.
**Market Conditions** Global games market is entering a recovery phase, with outsourcing demand exceeding earlier expectations, though price sensitivity remains.
**Strategic Priorities** Focus on establishing an operational presence in Western markets and pursuing selective M&A opportunities.
**Board Confidence** Supported by favorable market drivers, strong revenue visibility, increased capacity, and a robust balance sheet, the Board is confident in the Groups positioning for FY2026 and its ability to execute its growth strategy.
**CEOs Statement**
Johnny Jan, CEO, highlighted FY2025 as a standout year with strong growth, meaningful scaling, and successful integration of Mineloader. He emphasized the recovery in organic momentum in the second half and the step-change in AAA delivery. Looking ahead, the focus is on executing the next stage of growth, including investing in Southeast Asia and establishing a Western market presence. The CEO expressed confidence in the Groups strategy and ability to deliver sustainable value for shareholders, supported by a strong balance sheet and favorable market conditions.
Here’s an HTML table comparing the financials and debt of Winking Studios Limited for FY2025 and FY2024:
MetricFY2025 (US$ million)FY2024 (US$ million)Change (%)
Revenue45.531.9+42.6%
Gross Profit13.59.5+42.1%
Gross Margin (%)29.7%29.8%+0.1 percentage point
Adjusted EBITDA5.44.8+12.5%
Adjusted EBITDA Margin (%)12.0%15.1%-3.1 percentage points
EBITDA3.42.0+70.0%
Adjusted Net Profit3.03.4-11.8%
Net Profit0.30.5-40.0%
Cash, Cash Equivalents, and Bond Investments28.841.3-30.3%
Debt000%
### Key Highlights: 1. **Revenue Growth**: Revenue increased by 42.6% from FY2024 to FY2025, driven by organic growth and the acquisition of Mineloader. 2. **Gross Profit**: Gross profit rose by 42.1%, in line with revenue growth, while gross margin remained stable. 3. **Adjusted EBITDA**: Adjusted EBITDA grew by 12.5%, though the margin decreased due to higher expenses. 4. **Net Profit**: Net profit declined by 40.0%, primarily due to increased operating costs and non-recurring gains in FY2024. 5. **Cash Position**: Cash and cash equivalents decreased by 30.3% due to the acquisition of Mineloader, but the company remains debt-free. This table provides a clear comparison of key financial metrics and debt position year-on-year.
BBOX logo BBOX

Results for the year ended 31 December 2025

Tritax Big Box REIT plc

**Summary**
Tritax Big Box REIT plc, a UK-based real estate investment trust, announced its final results for the year ended December 31, 2025, highlighting strong momentum across its growth drivers. The company reported record rental reversion, growing logistics development momentum, and data centers primed for launch. Key financial highlights include a 10.6% increase in net rental income to £305.3 million, a 6.1% rise in operating profit to £281.6 million, and an 11.0% growth in adjusted earnings to £223.8 million. The company also declared a dividend per share of 8.00p, up 4.4% from the previous year.
**Key Points**
1. **Financial Performance**
Net rental income increased by 10.6% to £305.3 million, driven by the full contribution from the UKCM acquisition and asset management initiatives.
Operating profit rose by 6.1% to £281.6 million, and adjusted earnings grew by 11.0% to £223.8 million.
Adjusted earnings per share (excluding additional DMA income) increased by 4.1% to 8.38p.
Dividend per share was raised by 4.4% to 8.00p, with a dividend payout ratio of 95%.
2. **Portfolio Growth and Development**
Total portfolio value increased by 20.5% to £7.89 billion, with a stable equivalent yield of 5.7%.
Contracted annual rent roll grew by 15.1% to £360.9 million, and EPRA Net Tangible Assets per share increased by 1.2% to 187.76p.
The company has a strong development pipeline, with 1.8 million sq ft under construction and a potential rental income of £19.6 million, 53% of which is pre-let.
3. **Strategic Initiatives**
Successful integration of the UKCM logistics assets and the Blackstone portfolio acquisition, creating a 20% exposure to urban logistics.
Launch of a data center program with a power-first approach, assembling a high-quality pipeline and making significant progress.
Capital recycling strategy, with £415.5 million of disposals completed or exchanged, allowing reinvestment into higher-returning opportunities.
4. **Balance Sheet and Credit Rating**
Loan-to-value (LTV) ratio increased to 33.2%, within the target range of <mark style="background-color:yellow">below</mark> 35%.
Upgraded credit rating from Moodys to A3 (stable) from Baa1 (positive).
Inclusion in the FTSE 100 index from March 2, 2026.
5. **Outlook and Growth Drivers**
The company aims to capture record rental reversion, develop best-in-class logistics assets, and generate exceptional returns through data center development.
Targeted to achieve 50% growth in adjusted earnings by the end of 2030.
Anticipated acceleration in adjusted EPS growth rate in 2026, driven by asset management opportunities and development progress.
**Conclusion**
Tritax Big Box REIT plc demonstrated robust financial performance and strategic progress in 2025, positioning itself for continued growth in the logistics and data center sectors. With a strong balance sheet, upgraded credit rating, and inclusion in the FTSE 100, the company is well-placed to execute its growth strategy and deliver value to shareholders.
Here is a comparison of the financials and debt year on year for Tritax Big Box REIT PLC, presented as an HTML table:
Metric20242025Change
Net rental income (£m)£276.0£305.310.6%
Operating profit (£m)£265.3£281.66.1%
Adjusted earnings (£m)£201.7£223.811.0%
Adjusted earnings per share (pence)8.05p8.38p4.1%
IFRS earnings per share (pence)19.67p14.39p-26.8%
Dividend per share (pence)7.66p8.00p4.4%
Total Accounting Return (%)9.0%5.5%-3.5pts
Contracted annual rent roll (£m)£313.5£360.915.1%
Portfolio value (£bn)£6.55£7.8920.5%
Loan to value (LTV) (%)28.8%33.2%+4.4pts
**Key Observations:** - **Net rental income** increased by 10.6%, driven by the full contribution from the UKCM acquisition and asset management initiatives. - **Adjusted earnings** grew by 11.0%, reflecting the increase in net rental income and cost-efficient structure. - **IFRS earnings per share** decreased by 26.8%, likely due to non-recurring items or fair value adjustments. - **Portfolio value** increased significantly by 20.5%, primarily due to the acquisition of the Blackstone portfolio. - **Loan to value (LTV)** increased by 4.4pts, reflecting the debt-financed element of the Blackstone acquisition. This table provides a concise comparison of key financial metrics and debt levels for Tritax Big Box REIT PLC between 2024 and 2025.
MRO logo MRO

FINAL RESULTS

Melrose Industries PLC

Melrose Industries PLC, a global aerospace and defense company, reported strong financial results for the year ended December 31, 2025, with revenue growth of 8% to £3.589 billion and adjusted operating profit up 23% to £647 million. The companys performance was driven by increased demand in the Engines and Defence segments, as well as the successful completion of a multi-year transformation program. Key highlights include
Revenue growth of 8% to £3.589 billion, with like-for-like growth of 8%
Adjusted operating profit up 23% to £647 million, with margins improving by 240 basis points to 18.0%
Free cash flow generation of £125 million, a significant improvement from the previous years outflow of £74 million
Completion of a multi-year transformation program, providing a strong foundation for future growth
Strong commercial progress, including key customer contract wins and new partnerships
Quality and productivity gains achieved in a complex operating environment
New share buyback program of £175 million announced
Increase in final dividend to 4.8p, taking the full-year dividend to 7.2p, a 20% increase
The companys Engines segment saw revenue growth of 15% to £1.632 billion, driven by strong performance in both original equipment and aftermarket sales. The Airframes segment, renamed from Structures, saw revenue growth of 3% to £1.957 billion, with strong performance in the Defence sub-segment.
Melroses CEO, Peter Dilnot, expressed confidence in the companys future prospects, stating that the company is well-positioned to benefit from expected production ramp-ups and ongoing aftermarket expansion. The company expects to deliver further growth in revenue, profit, and cash flow in 2026, with a clear path to achieving its 2029 targets.
In terms of financial metricsMelrose reported
Adjusted diluted EPS up 25% to 32.1 pence
Net debt of £1.407 billionwith leverage of 1.8x
Return on capital employed (ROCE) of 18.0%
The companys strong performance and positive outlook were reflected in its share price, which increased by 5% on the day of the announcement. Overall, Melrose Industries PLCs 2025 results demonstrate the companys successful transformation and strong positioning in the aerospace and defense industry, with a clear strategy for future growth and value creation.
Here is the HTML table code comparing the financials and debt year on year for Melrose Industries PLC:
Metric2025 (£m)2024 (£m)Change
Revenue3,5893,4688% increase
Operating Profit64754023% increase
Profit Before Tax51543821% increase
Free Cash Flow125(74)£199m increase
Net Debt1,4071,321£86m increase
Leverage (x)1.81.90.1x decrease
**Key Observations:** - Revenue increased by 8% from £3,468m in 2024 to £3,589m in 2025. - Operating profit increased significantly by 23% from £540m in 2024 to £647m in 2025. - Profit before tax also increased by 21% from £438m in 2024 to £515m in 2025. - Free cash flow turned positive, increasing by £199m from -£74m in 2024 to £125m in 2025. - Net debt increased by £86m from £1,321m in 2024 to £1,407m in 2025. - Leverage decreased slightly from 1.9x in 2024 to 1.8x in 2025. This table provides a concise comparison of key financial metrics and debt levels for Melrose Industries PLC between 2024 and 2025.
BLU logo BLU

Final Results

Blue Star Capital plc

**Summary of Blue Star Capital PLCs Final Results for the Year Ended 30 September 2025**
Blue Star Capital PLC, an investing company focused on blockchain and payments, announced its final results for the year ended 30 September 2025. Key highlights include
### **Financial Performance**
**Pre-tax Loss**Reduced to £665,606 from £4,491,966 in the prior year, primarily due to a significantly lower fair value movement on investments (£346,928 vs. £4,312,519 in 2024).
**Net Assets**Increased materially to £2,865,895 (2024: £937,381), driven by new equity capital raised and the increased carrying value of the investment in SatoshiPay Limited.
**Valuation of Investments**Increased to £1,553,643 (2024: £970,394), with the carrying value of the SatoshiPay investment at £1,526,492.
### **Strategic Investments**
**SatoshiPay Limited**Increased exposure through
A €75,000 subscription via a SAFE instrument.
Acquisition of 4,531 shares (22.0% of SatoshiPays issued share capital) in exchange for 4,412,096 new ordinary shares in Blue Star.
A £1000000 secured loan to SatoshiPaywith a fair value gain of £15246 recognized in profit or loss.
**Other Investments**Reduced carrying values of Dynasty Gaming & Media and Paidia Esports Inc. to £13,965 and £13,186, respectively, due to ongoing uncertainty.
### **Capital Activities**
**Share Consolidation and Subdivision**Completed a 200:1 share consolidation and subdivision, facilitating equity fundraisings, including £1.15 million raised in July 2025.
**Cash Position**Improved to £313,236 (2024: £5,828), with prudent cash management and alignment of directors remuneration with long-term shareholder value.
### **Operational Highlights**
**SatoshiPays Vortex Platform**Launched a fiat-to-crypto infrastructure platform, operational in Brazil, Europe, Argentina, and expanding to the US. Achieved over $10 million in transaction volumes in January 2026.
**Nabla.fi**Successfully integrated with DEX aggregators, generating yield on crypto tokens.
### **Outlook**
**Focus on Vortex**The success of Vortex and its impact on SatoshiPays valuation are critical to Blue Stars future. The Board believes its 58% stake in SatoshiPay could provide significant returns.
**Cost Management**Continued focus on eliminating non-essential spending and aligning directors remuneration with equity-linked instruments.
### **Corporate Governance**
**Annual General Meeting (AGM)**Scheduled for 24 March 2026 at Cairn Financial Advisers LLP, London. Shareholders are encouraged to vote via proxy.
### **Chairmans Statement**
Tony Fabrizi, Executive Chairman, emphasized the significant progress made by SatoshiPay, particularly through its Vortex platform, and the potential for substantial returns for Blue Star shareholders. The Board remains confident in SatoshiPays growth prospects despite valuation challenges.
### **Auditors Report**
Adler Shine LLP provided an unqualified opinion, highlighting key audit matters including the valuation of investments and going concern considerations. The Company is reliant on future fundraisings to continue operations, with material uncertainty noted.
### **Financial Statements**
Detailed financial statements, including the Statement of Comprehensive Income, Statement of Financial Position, and Cash Flow Statement, were provided, showing improvements in net assets, cash position, and investment valuations.
### **Post Balance Sheet Events**
Subscribed for additional €250000 in SatoshiPay via SAFE Notes.
Directors awarded warrants as partial remuneration in lieu of salary.
Settled the loan to SatoshiPay with a combination of SAFE Notes and cash repayment, reflecting the decline in the digital asset portfolios value.
Blue Star Capital remains focused on its strategic investments, particularly in SatoshiPay, with a cautious yet optimistic outlook for future growth and shareholder value.
Here is a comparison of Blue Star Capital's financials and debt year-on-year, presented as an HTML table:
Metric20242025Change
Pre-tax Loss (£)4,491,966665,606(85%)
Net Assets (£)937,3812,865,895206%
Cash Position (£)5,828313,2365,271%
Valuation of Investments (£)970,3941,553,64359%
Loan Receivable (£)01,015,246N/A
Administrative Expenses (£)162,309193,25719%
Share-based Payment Charge (£)0126,700N/A
Net Cash from Financing Activities (£)100,0001,585,0001,485%

Debt Comparison

Debt Type2024 (£)2025 (£)Change
Loan to SatoshiPay01,000,000N/A
Loan Repayment (2026)N/A-115,000N/A
SAFE Agreements (2026)N/A658,634N/A

Notes:

  • The loan to SatoshiPay was advanced in 2025 and partially repaid in 2026, with the remaining balance converted into SAFE agreements.
  • The SAFE agreements are not considered debt but rather a form of equity investment, as they provide downside protection and a valuation cap.
  • The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
**Key Takeaways:** * Blue Star Capital significantly reduced its pre-tax loss from £4.49 million in 2024 to £0.67 million in 2025, primarily due to lower fair value movements on investments. * Net assets and cash position increased substantially in 2025, driven by new equity capital raised and increased carrying value of investments. * The company advanced a £1 million loan to SatoshiPay in 2025, which was partially repaid in 2026, with the remaining balance converted into SAFE agreements. * Administrative expenses and share-based payment charges increased in 2025, reflecting higher professional costs and transaction activity. * The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
JUST logo JUST

Results for the year ended 31 December 2025

Just Group plc

**Summary of Just Group PLCs Final Results for the Year Ended 31 December 2025**
Just Group PLC reported its financial results for the year ended 31 December 2025, highlighting a year of strategic execution, disciplined pricing, and preparation for future growth amidst a competitive market. The company announced a proposed combination with Brookfield Wealth Solutions Ltd (BWS), expected to complete in the first half of 2026, which is seen as a significant opportunity for customers, shareholders, and colleagues.
**Financial Highlights**
**Underlying Operating Profit** Decreased by 39% to £305 million, primarily due to lower new business margins on reduced sales, partially offset by higher recurring in-force profit.
**Retirement Income Sales** Fell by 18% to £4.3 billion, with a strong growth in Guaranteed Income for Life (GIfL) sales partially offsetting a decline in Defined Benefit (DB) sales.
**GIfL Sales** Increased by 23% to £1.3 billion, reflecting improvements in the advisor proposition.
**DB Sales** Decreased by 28% to £3.1 billion, due to fewer medium-sized transactions in a competitive market.
**New Business Margins** Lower at 5.7%, impacted by increased competition, tighter spreads, lower volumes, and business mix.
**Solvency II Capital Coverage Ratio** Remained robust at 179%, despite a fall from the previous years 204%, due to new business growth and non-operating items.
**IFRS Performance** Tangible net assets increased to £2.7 billion, and adjusted profit before tax was £120 million, leading to an IFRS loss before tax of £(118) million.
**Strategic Developments**
**Proactive Capital Management** Just Group deliberately reduced volume in the DB market to manage capital resources and maintain pricing discipline.
**Market Outlook** Anticipates a rebound in the DB market in 2026, driven by renewed demand and a strong pipeline. The retail guaranteed income market is also expected to offer significant long-term growth potential.
**Sustainability** Achieved net zero emissions in its own operations (Scope 1 and 2) by 2025 and is on track to reduce Scope 3 emissions by 50% by 2030.
**Operational Excellence**
**DB Transactions** Completed a record 130 transactions, maintaining its position as the number one DB provider by deal number.
**Retail Business Growth** GIfL sales grew by 23%, benefiting from an improved advisor proposition and strong market demand.
**Future Prospects**
**Combination with BWS** Expected to enhance Just Groups reach, offering, and investment capabilities, positioning the company for continued growth and value creation.
**Market Opportunities** Well-positioned to capitalize on the DB market rebound and the long-term growth potential of the retail guaranteed income market.
In conclusion, Just Group PLCs 2025 results reflect a year of strategic discipline and preparation for future growth, with the proposed combination with BWS marking a significant step towards enhancing its market position and value proposition.
Here is the HTML table code comparing the financials and debt year on year for Just Group PLC:
MDZ logo MDZ

Final Results

MediaZest plc

**MediaZest Plc Annual Financial Report Summary (FY25)**
**Financial Highlights**
**Revenue Growth** Increased by 35% to £4.154 million (FY24: £3.074 million).
**Gross Profit** Rose 47% to £2.346 million (FY24: £1.595 million), with a gross margin improvement to 56% (FY24: 52%).
**EBITDA:** Surged to £331000 (FY24: £14000).
**Profit After Tax** Returned to profitability at £98,000 (FY24: £214,000 loss).
**Earnings per Share** Improved to 0.0058 pence (FY24: 0.0133 pence loss).
**Cash Position** Strengthened to £99,000 (FY24: £64,000).
**Operational Highlights**
Delivered strong performance in the last four months of FY25, with significant projects for clients like First Rate, Pets at Home, Lululemon Athletica, Arcteryx, Kia, Hyundai, and Duty Free.
Signed a major contract with First Rate for digital currency board installations across 1,200 UK locations.
Continued expansion in Europe with projects for Lululemon Athletica and Arcteryx.
Appointed Keith Edelman as new Chairman in June 2025.
**Post Year-End Highlights**
**Debt Restructuring** Successfully restructured debt, writing off £529,000 in interest and repaying £785,609 over six years.
**Fundraising** Raised £215,000 through equity issuance, with Dr Graham Cooley as a new significant shareholder.
**Outlook**
Strong demand across retail, automotive, and corporate sectors, with FY26 targeting revenue of £5 million and profit after tax exceeding £250,000.
Focus on long-term recurring revenue contracts and potential M&A opportunities to enhance growth.
**Key Financial Metrics (FY25 vs FY24)**
**Metric**
**FY25 (£’000)**
**FY24 (£’000)**
Revenue
4154
3074
Gross Profit
2346
1595
EBITDA
331
14
Profit After Tax
98
(214)
Cash
99
64
**Conclusion**
MediaZest Plc demonstrated significant financial and operational improvement in FY25, returning to profitability and strengthening its balance sheet. With a robust pipeline of projects and strategic initiatives, the company is well-positioned for continued growth in FY26.
Below is the HTML table code comparing the financials and debt year on year for MediaZest Plc based on the provided text: < lang="en">MediaZest Plc Financials and Debt Comparison

MediaZest Plc Financials and Debt Comparison (FY25 vs FY24)

Metric20242025Change
Underlying operating profit (£m)504305(39%)
Retirement Income sales (£bn)5.34.3(18%)
New business profit (£m)460249(46%)
New business margin (%)8.7%5.7%(34%)
Solvency II capital coverage ratio (%)204%179%(12%)
Tangible net assets (£bn)2.62.74%
Cash generation (£m)1191309%
New business strain (% of premium)1.3%2.7%115%
MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue4,1543,0741,08035%
Gross Profit2,3461,59575147%
EBITDA331143172,264%
Profit after Tax98(214)312-146%
Cash99643555%
Debt Principal (Post Restructuring)785.61,283(497.4)-39%
Interest Written Off529-529N/A
### Explanation: 1. **Revenue**: Increased by £1,080,000 (35%) from FY24 to FY25. 2. **Gross Profit**: Increased by £751,000 (47%) from FY24 to FY25. 3. **EBITDA**: Increased significantly by £317,000 (2,264%) from FY24 to FY25. 4. **Profit after Tax**: Improved by £312,000, turning from a loss of £214,000 in FY24 to a profit of £98,000 in FY25. 5. **Cash**: Increased by £35,000 (55%) from FY24 to FY25. 6. **Debt Principal**: Reduced by £497,400 (39%) post-restructuring in FY25 compared to FY24. 7. **Interest Written Off**: £529,000 was written off in FY25 as part of the debt restructuring. This table provides a clear comparison of key financial metrics and debt restructuring details between FY25 and FY24.
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Suspension 1 news title 1
TR1 41 news titles 41
DEC logo DEC

Diversified Energy TR-1

Diversified Energy Company PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Barclays PLC', '', 0]
SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['City of London Investment Management Company Limited', '14.950000', '15.020000']
BOWL logo BOWL

Holding(s) in Company

Hollywood Bowl Group PLC

<mark style="background-coloryellow">TR1</mark> Buy
['BlackRock, Inc.', '3.990000', 'Below 5']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['HSBC Holdings plc', '10.626000', '9.994000']
SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['1607 Capital Partners, LLC', '2.775756', '9.634830']
SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['Gresham House Asset Management Ltd', '17.23', '16.07']
SOI logo SOI

Holding(s) in Company

Schroder Oriental Income Fund

TR1 Buy
['Raymond James Wealth Management Limited', '5.000000', '5.010000']
WIZZ logo WIZZ

Holding(s) in Company

Wizz Air Holdings PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Barclays PLC', 'Below notifiable threshold', '0.170000']
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Updates 14 news titles 14
LDG logo LDG

Portfolio NAV Update

Logistics Development Group PLC

**Summary**
Logistics Development Group PLC (LDG) released its quarterly portfolio update on February 27, 2026, announcing an unaudited estimated net asset value (NAV) per share of 26.7 pence as of December 31, 2025, unchanged from the previous quarter. The NAV was assessed by LDGs investment manager, DBAY, using international valuation guidelines.
**Portfolio Highlights**
1. **Finsbury Food Group Ltd (25.31% stake):**
Generated £445 million in revenue (FY June 2025) from its specialty bakery business.
Acquired Lolas Cupcakes, entering the direct-to-consumer market.
Completed a refinancing in January 2026, returning £11.4 million in capital to LDG, reducing exposure to £2.8 million.
2. **SQLI SA (10.73% stake)**
A pan-European IT services company with revenue of €252 million (FY December 2025).
Outperformed market peers with improved EBITDA margins in FY2025.
Implemented operational improvements and AI-driven initiatives to enhance profitability.
3. **Alliance Pharma plc (24.54% stake)**
Delivered £144 million in revenue (FY December 2025) from consumer healthcare products.
Disposed of small prescription brands, reducing debt and de-risking LDGs investment.
Optimized its China go-to-market strategy with a new distributor for Kelo-Cote.
4. **WS Holdco Limited (42.60% stake, increasing to 51.3% post-investment):**
Acquired WS companies and established WS People Providers for staffing services.
Focused on scaling through complementary acquisitions and improving efficiency.
Received a £10 million investment from LDG in January 2026 to support growth.
**Investment Managers Summary**
LDGs portfolio demonstrated solid growth and profitability in FY2025, despite macro volatility. The companys focus on stable, infrastructure-like sectors (e.g., bakeries, consumer health) and AI-driven cost reductions has proven effective. With a fully invested portfolio, LDG is now concentrating on value creation through operational improvements, overhead optimization, and management strengthening. The performance underscores the success of LDGs disciplined investment approach, emphasizing cash generation and attractive valuations.
Below is the HTML table code comparing the financials and debt (where available) year-on-year for the investments in Logistics Development Group PLC's portfolio, based on the provided text:
CompanyLDG's Economic InterestTotal Investment at Cost (£m)Revenue (Latest Financial Year)Revenue (Previous Year)Debt/Refinancing Details
Finsbury Food Group Ltd25.31%14.2£445m (FY June 2025)N/ARefinanced in Jan 2026; £11.4m return of capital, reducing exposure to £2.8m
SQLI SA10.73%13.3€252m (FY Dec 2025, Unaudited)N/AImproved EBITDA margin in FY2025 vs FY2024
Alliance Pharma plc24.54%39.0£144m (FY Dec 2025, Unaudited)N/ADisposed of prescription brands in Jan 2026; proceeds used to pay down debt
WS Holdco Limited42.60% (increasing to 51.3% post-investment)15.0 (additional £10m reallocated in Jan 2026)N/AN/A£10m investment reallocated from Finsbury's return of capital in Jan 2026
Other Minority Interests2.71%2.3N/AN/AN/A
### Notes: 1. **Revenue Comparison**: The table includes the latest revenue figures for each company. Since the previous year's revenue is not provided in the text, it is marked as "N/A". 2. **Debt/Refinancing**: Details on debt reduction or refinancing activities are included where mentioned in the text. 3. **WS Holdco**: Revenue data is not available, hence marked as "N/A". The investment increase is noted in the debt/refinancing column. 4. **Other Minority Interests**: No specific financial or debt details are provided, hence marked as "N/A". This table provides a clear comparison of key financials and debt-related activities for each investment in LDG's portfolio.
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Trading Floor
2026-02-27
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2026-02-27 23 picks
80 Positive
IAG
International Consolidated Airlines Group S.A
Positive
**Summary:** International Consolidated Airlines Group (IAG) announced the launch of a €500 million share buyback programme on February 27, 2026, aimed at reducing the companys share capital, pending shareholder approval. The programme, authorized by the 2025 Annual General Meeting, will be executed by Morgan Stanley Europe SE and Goldman Sachs Bank Europe SE, starting on March 2, 2026, and is expected to conclude by May 29, 2026. Key details include: - **Total Value:** €500 million, with €374 million allocated for market purchases and €126 million for purchases from Qatar Airways. - **Qatar Airways Participation:** Qatar Airways will maintain its 25.1434% stake in IAG by selling shares proportionally to the banks, rather than directly in the market. - **Scope:** Up to 310,717,331 ordinary shares (6.57% of issued share capital) will be purchased on the London and Spanish Stock Exchanges. - **Price Limits:** Shares will be bought at a price no higher than the lower of (i) the higher of the last independent trade or highest current bid, and (ii) 105% of the 5-day average market value. - **Daily Volume Cap:** Purchases will not exceed 25% of the average daily trading volume over the preceding 20 days. - **Post-Purchase:** Acquired shares will be held in treasury, with potential cancellation subject to shareholder approval at the next Annual General Meeting. The programme complies with EU Market Abuse Regulation and related delegated regulations, ensuring transparency and fairness in execution.
**Summary**
International Consolidated Airlines Group (IAG) announced the launch of a €500 million share buyback programme on February 27, 2026, aimed at reducing the companys share capital, pending shareholder approval. The programme, authorized by the 2025 Annual General Meeting, will be executed by Morgan Stanley Europe SE and Goldman Sachs Bank Europe SE, starting on March 2, 2026, and is expected to conclude by May 29, 2026.
Key details include
**Total Value** €500 million, with €374 million allocated for market purchases and €126 million for purchases from Qatar Airways.
**Qatar Airways Participation** Qatar Airways will maintain its 25.1434% stake in IAG by selling shares proportionally to the banks, rather than directly in the market.
**Scope** Up to 310,717,331 ordinary shares (6.57% of issued share capital) will be purchased on the London and Spanish Stock Exchanges.
**Price Limits** Shares will be bought at a price no higher than the lower of (i) the higher of the last independent trade or highest current bid, and (ii) 105% of the 5-day average market value.
**Daily Volume Cap** Purchases will not exceed 25% of the average daily trading volume over the preceding 20 days.
**Post-Purchase** Acquired shares will be held in treasury, with potential cancellation subject to shareholder approval at the next Annual General Meeting.
The programme complies with EU Market Abuse Regulation and related delegated regulations, ensuring transparency and fairness in execution.
Launch
13:28
80 Positive
HLCL
Helical Bar Plc
Positive
**Summary:** Helical PLC and Places for London (Transport for Londons property company) have entered into a joint venture (JV) to forward fund and sell a purpose-built student accommodation (PBSA) project in Southwark, London, valued at over £200 million upon completion. The scheme includes 429 high-quality student studios, new retail space, and public realm enhancements, designed by AHMM. It also supports the delivery of 44 affordable homes and community facilities, which have been forward sold to the London Borough of Southwark. The transaction exemplifies Helicals "equity light" strategy, targeting a return on equity of over 3.0x. Construction is set to begin in 2026, with completion by 2029, in time for the 2029/30 academic year. The JV will receive an initial payment of £35.2 million (Helicals share: £18.0 million) upon Gateway 2 approval, expected in the second half of 2026, returning all committed equity and including an interim profit of £20 million (Helicals share: £10.2 million). No further equity is anticipated, with remaining profits payable upon completion. Places for London will own the PBSA building, generating sustainable long-term income for reinvestment into Londons transport network. The project is one of three sites being developed by the JV, with additional central London projects in the pipeline, potentially including more student accommodation using a similar equity light structure. Key executives from both companies highlighted the transactions strategic importance, emphasizing the delivery of high-quality student housing, affordable homes, and its contribution to Londons growth and transport funding.
**Summary**
Helical PLC and Places for London (Transport for Londons property company) have entered into a joint venture (JV) to forward fund and sell a purpose-built student accommodation (PBSA) project in Southwark, London, valued at over £200 million upon completion. The scheme includes 429 high-quality student studios, new retail space, and public realm enhancements, designed by AHMM. It also supports the delivery of 44 affordable homes and community facilities, which have been forward sold to the London Borough of Southwark.
The transaction exemplifies Helicals "equity light" strategy, targeting a return on equity of over 3.0x. Construction is set to begin in 2026, with completion by 2029, in time for the 2029/30 academic year. The JV will receive an initial payment of £35.2 million (Helicals share: £18.0 million) upon Gateway 2 approval, expected in the second half of 2026, returning all committed equity and including an interim profit of £20 million (Helicals share: £10.2 million). No further equity is anticipated, with remaining profits payable upon completion.
Places for London will own the PBSA building, generating sustainable long-term income for reinvestment into Londons transport network. The project is one of three sites being developed by the JV, with additional central London projects in the pipeline, potentially including more student accommodation using a similar equity light structure.
Key executives from both companies highlighted the transactions strategic importance, emphasizing the delivery of high-quality student housing, affordable homes, and its contribution to Londons growth and transport funding.
JV
12:46
93 Strong Beat
EVST
Everest Global PLC
Positive
**Summary of Everest Global PLCs Final Results for the Year Ended 31 October 2025** **Financial Performance:** - **Revenue Growth:** Revenue increased to £566,755 in 2025 from £437,768 in 2024, driven by the full contribution of a new retail store opened in January 2025. - **Loss Before Tax:** The company reported a loss before tax of £1,105,279 in 2025, compared to a loss of £629,780 in 2024. The first half of 2025 showed strong performance, with a return to profitability before one-off items of £75,617. - **Gross Profit Margins:** Margins improved due to better supplier terms and a favorable product mix. - **Administrative Expenses:** Managed prudently, with a focus on operational discipline and future growth investment. **Capital Management:** - **Convertible Loan Notes (CLNs):** The outstanding balance of CLNs decreased to £2,537,520 in 2025 from £3,570,119 in 2024. In August 2025, £1,500,000 of CLNs were repaid to Surich Real Estate Opportunity Fund SPC (SPC). In November 2025, SPC subscribed for £1,500,000 in new CLNs to support working capital, capital expenditure, and potential acquisitions. - **Capital Re-Organisation:** Shareholders approved a capital re-organisation in November 2025, involving the sub-division and re-classification of existing ordinary shares into new ordinary shares. The re-organisation resulted in 1 new ordinary share for every 200 existing shares, reducing the total number of shares from 77,388,855 to 386,945. **Strategic Initiatives:** - **Acquisition Strategy:** Focus on expanding through acquisitions, investments, and joint ventures in the food and beverage industry, particularly in beverage distribution and production in the UK and Europe. - **Organic Growth:** Scaling existing operations, including increasing stores and product lines for Precious Link (UK) Limited. - **Geographic Expansion:** Plans to expand further in London and Southeast England. - **Category Extension:** Introduction of premium tobacco, spirits, specialty beverages, and complementary product lines. **Outlook:** - **Growth Focus:** Continued emphasis on acquisitions, investments, and joint ventures in the food and beverage sector. - **Capital Structure Management:** Active management of the capital structure, including simplifying the CLN position and completing the capital re-organisation. - **Funding Requirements:** Additional capital will be needed to invest in strategic opportunities. **Corporate Governance and Compliance:** - **Stakeholder Engagement:** Commitment to engaging with customers, suppliers, shareholders, lenders, and staff to ensure alignment with strategic goals. - **Regulatory Compliance:** Adherence to national and international laws and regulations, including human rights and social interaction standards. **Key Performance Indicators (KPIs):** - **Turnover:** Increased to £566,755 in 2025 from £437,768 in 2024. - **Gross Profit:** Rose to £171,362 in 2025 from £108,054 in 2024. - **Cash on Hand:** Increased to £1,063,463 in 2025 from £279,725 in 2024. - **Underlying Operating Loss:** Improved to £1,085,087 in 2025 from £669,607 in 2024. **Risks and Uncertainties:** - **Financial Risks:** Credit risk, liquidity risk, and foreign currency risk are actively managed. - **Operational Risks:** Supply chain disruptions, regulatory compliance, and maintaining product quality are key concerns. - **Strategic Risks:** Identifying suitable acquisition targets and adapting to changing consumer preferences are critical challenges. **Conclusion:** Everest Global PLC demonstrated resilience and strategic focus in 2025, despite financial losses. The companys efforts in capital management, strategic acquisitions, and operational efficiency position it for future growth in the competitive food and beverage industry. The Board remains committed to delivering long-term value to shareholders through disciplined capital allocation and strategic expansion.
**Summary of Everest Global PLCs Final Results for the Year Ended 31 October 2025**
**Financial Performance**
**Revenue Growth** Revenue increased to £566,755 in 2025 from £437,768 in 2024, driven by the full contribution of a new retail store opened in January 2025.
**Loss Before Tax** The company reported a loss before tax of £1,105,279 in 2025, compared to a loss of £629,780 in 2024. The first half of 2025 showed strong performance, with a return to profitability before one-off items of £75,617.
**Gross Profit Margins** Margins improved due to better supplier terms and a favorable product mix.
**Administrative Expenses** Managed prudently, with a focus on operational discipline and future growth investment.
**Capital Management**
**Convertible Loan Notes (CLNs)** The outstanding balance of CLNs decreased to £2,537,520 in 2025 from £3,570,119 in 2024. In August 2025, £1,500,000 of CLNs were repaid to Surich Real Estate Opportunity Fund SPC (SPC). In November 2025, SPC subscribed for £1,500,000 in new CLNs to support working capital, capital expenditure, and potential acquisitions.
**Capital Re-Organisation** Shareholders approved a capital re-organisation in November 2025, involving the sub-division and re-classification of existing ordinary shares into new ordinary shares. The re-organisation resulted in 1 new ordinary share for every 200 existing shares, reducing the total number of shares from 77,388,855 to 386,945.
**Strategic Initiatives**
**Acquisition Strategy** Focus on expanding through acquisitions, investments, and joint ventures in the food and beverage industry, particularly in beverage distribution and production in the UK and Europe.
**Organic Growth** Scaling existing operations, including increasing stores and product lines for Precious Link (UK) Limited.
**Geographic Expansion** Plans to expand further in London and Southeast England.
**Category Extension** Introduction of premium tobacco, spirits, specialty beverages, and complementary product lines.
**Outlook**
**Growth Focus** Continued emphasis on acquisitions, investments, and joint ventures in the food and beverage sector.
**Capital Structure Management** Active management of the capital structure, including simplifying the CLN position and completing the capital re-organisation.
**Funding Requirements** Additional capital will be needed to invest in strategic opportunities.
**Corporate Governance and Compliance**
**Stakeholder Engagement** Commitment to engaging with customers, suppliers, shareholders, lenders, and staff to ensure alignment with strategic goals.
**Regulatory Compliance** Adherence to national and international laws and regulations, including human rights and social interaction standards.
**Key Performance Indicators (KPIs)**
**Turnover:** Increased to £566755 in 2025 from £437768 in 2024.
**Gross Profit:** Rose to £171362 in 2025 from £108054 in 2024.
**Cash on Hand:** Increased to £1063463 in 2025 from £279725 in 2024.
**Underlying Operating Loss** Improved to £1,085,087 in 2025 from £669,607 in 2024.
**Risks and Uncertainties**
**Financial Risks** Credit risk, liquidity risk, and foreign currency risk are actively managed.
**Operational Risks** Supply chain disruptions, regulatory compliance, and maintaining product quality are key concerns.
**Strategic Risks** Identifying suitable acquisition targets and adapting to changing consumer preferences are critical challenges.
**Conclusion**
Everest Global PLC demonstrated resilience and strategic focus in 2025, despite financial losses. The companys efforts in capital management, strategic acquisitions, and operational efficiency position it for future growth in the competitive food and beverage industry. The Board remains committed to delivering long-term value to shareholders through disciplined capital allocation and strategic expansion.
Here is the HTML table code comparing the financials and debt year on year for Everest Global PLC:
Financial MetricYear Ended 31 Oct 2025Year Ended 31 Oct 2024Change
Revenue£566,755£437,76829.4%
Gross Profit£171,362£108,05458.6%
Operating Loss(£1,085,087)(£669,607)-62.1%
Loss Before Tax(£1,105,279)(£629,780)-75.5%
Cash and Cash Equivalents£1,063,463£279,725280.2%
Convertible Loan Notes (CLNs)£2,537,520£3,570,119-28.9%
Total Debt (incl. CLNs)£2,732,712£3,635,775-24.9%

Notes:

  • Revenue and gross profit increased significantly year-on-year, driven by the full contribution of the new retail store opened in January 2025.
  • Operating loss and loss before tax worsened due to a £379,127 impairment of goodwill related to the acquisition of Precious Link (UK) Limited.
  • Cash and cash equivalents increased substantially due to financing activities, including the issuance of new CLNs and repayment of existing ones.
  • CLNs and total debt decreased as the company repaid £1,500,000 of CLNs in August 2025 and issued new CLNs post-year end.
This table provides a clear comparison of key financial metrics and debt levels between the two years, highlighting the significant changes and their drivers.
12:31
84 Broker Upgrade
WNX
Wellnex Life Limited
Positive
**Summary of Wellnex Life Limiteds Half-Year Report (H1 FY26)** **Key Highlights:** - **Revenue Growth:** Revenue increased by 8% to $12.9 million in H1 FY26 compared to the same period in FY25. - **Gross Margin Improvement:** Gross margin rose significantly by 9.4 percentage points to 32.1%, driven by cost control and operational efficiency. - **Operating Breakeven:** The company achieved operating breakeven in Q2 FY26, marking a turnaround in financial performance. - **Strategic Turnaround:** Wellnex Life implemented a strategic turnaround focused on a leaner, more efficient operation, enhanced management processes, and tighter capital management. - **Funding Review:** Post-period, the company is exploring funding options, including settling related party loans. **Financial Performance:** - **Revenue:** $12.919 million, up 8% from H1 FY25, with brand sales contributing 72.3% and IP licensing the remainder. - **Loss Reduction:** Loss from ordinary activities after tax decreased by 76.2% to $(1.793) million. - **Net Tangible Assets:** Decreased slightly to $(13.06) cents per ordinary security from $(12.51) cents in the previous period. **Operational Updates:** - **Pain Away:** Maintained market position with $7.0 million in sales, improved gross margin by 7.9%, and gained market share in heat patches and roll-ons. - **Wakey Wakey/Nighty Night:** Consolidated underperforming SKUs, ceasing investments in these areas. - **Wagner Health Liquigesic:** Launched Australias first TGA-approved soft gel liquid paracetamol, expanding product offerings and strengthening brand recognition. - **Mr Bright:** Discontinued natural teeth whitening brand, planning to divest its intellectual property. **Corporate Governance:** - **Board Restructure:** Reduced the number of directors from 7 to 3, with Ash Vesali appointed as Executive Chairman. - **Management Changes:** Accepted resignations of Joint Chief Executive Officers, with Vesali overseeing both the Board and management during the transition. **Going Concern:** - Despite losses and net operating cash outflows, the company believes it can continue as a going concern, supported by: - Stabilizing turnaround trajectory and increasing gross margins. - Potential asset monetization opportunities. - Targeted cost reduction program aiming for $1 million in annualized savings. - Ability to raise additional capital and access debt facilities. **Conclusion:** Wellnex Life Limited demonstrated significant progress in H1 FY26, achieving revenue growth, gross margin improvement, and operating breakeven. The company remains focused on consistent performance and long-term shareholder value creation, while addressing financial challenges through strategic initiatives and funding exploration.
**Summary of Wellnex Life Limiteds Half-Year Report (H1 FY26)**
**Key Highlights**
**Revenue Growth** Revenue increased by 8% to $12.9 million in H1 FY26 compared to the same period in FY25.
**Gross Margin Improvement** Gross margin rose significantly by 9.4 percentage points to 32.1%, driven by cost control and operational efficiency.
**Operating Breakeven** The company achieved operating breakeven in Q2 FY26, marking a turnaround in financial performance.
**Strategic Turnaround** Wellnex Life implemented a strategic turnaround focused on a leaner, more efficient operation, enhanced management processes, and tighter capital management.
**Funding Review** Post-period, the company is exploring funding options, including settling related party loans.
**Financial Performance**
**Revenue** $12.919 million, up 8% from H1 FY25, with brand sales contributing 72.3% and IP licensing the remainder.
**Loss Reduction** Loss from ordinary activities after tax decreased by 76.2% to $(1.793) million.
**Net Tangible Assets** Decreased slightly to $(13.06) cents per ordinary security from $(12.51) cents in the previous period.
**Operational Updates**
**Pain Away** Maintained market position with $7.0 million in sales, improved gross margin by 7.9%, and gained market share in heat patches and roll-ons.
**Wakey Wakey/Nighty Night** Consolidated underperforming SKUs, ceasing investments in these areas.
**Wagner Health Liquigesic** Launched Australias first TGA-approved soft gel liquid paracetamol, expanding product offerings and strengthening brand recognition.
**Mr Bright** Discontinued natural teeth whitening brand, planning to divest its intellectual property.
**Corporate Governance**
**Board Restructure** Reduced the number of directors from 7 to 3, with Ash Vesali appointed as Executive Chairman.
**Management Changes** Accepted resignations of Joint Chief Executive Officers, with Vesali overseeing both the Board and management during the transition.
**Going Concern**
Despite losses and net operating cash outflows, the company believes it can continue as a going concern, supported by
Stabilizing turnaround trajectory and increasing gross margins.
Potential asset monetization opportunities.
Targeted cost reduction program aiming for $1 million in annualized savings.
Ability to raise additional capital and access debt facilities.
**Conclusion**
Wellnex Life Limited demonstrated significant progress in H1 FY26, achieving revenue growth, gross margin improvement, and operating breakeven. The company remains focused on consistent performance and long-term shareholder value creation, while addressing financial challenges through strategic initiatives and funding exploration.
Here is the HTML table code comparing the financials and debt year on year for Wellnex Life Limited: tr>
Financial MetricH1 FY26 (Dec 2025)H1 FY25 (Dec 2024)Change
Revenue$12.9 million$11.962 million8% increase
Gross Margin32.1%22.7%9.4 percentage points increase
Loss from ordinary activities after tax($1.793 million)($7.526 million)76.2% decrease in loss
Net Tangible Assets per ordinary security (cents)(13.06)(12.51)Minor decrease
Total Current Liabilities - Borrowings$5.215 million$5.708 million8.6% decrease
Total Non-Current Liabilities - Borrowings$4.819 million$0 millionNew borrowing
Related Party Loans$2.969 million$2.856 million4% increase
**Key Observations:** - Revenue increased by 8% year on year, driven by brand sales. - Gross margin improved significantly by 9.4 percentage points due to cost control and operational efficiency. - Loss from ordinary activities after tax decreased by 76.2%, indicating improved financial performance. - Borrowings decreased slightly for current liabilities but increased significantly for non-current liabilities due to new loans. - Related party loans increased marginally. This table provides a concise comparison of key financial metrics and debt levels between the two half-year periods.
06:31
80 Positive
RMV
Rightmove PLC
Positive
**Summary:** Rightmove plc, the UKs leading property website, announced a non-discretionary share buyback programme on February 27, 2026. The programme, set to run from March 2 to July 31, 2026, authorizes the purchase of ordinary shares for cancellation, with a maximum aggregate purchase price of £90 million. The buyback will be executed within pre-set parameters, adhering to the companys general authority, EU and UK Market Abuse Regulations, and Listing Rules. UBS AG London Branch has been appointed to manage the programme independently, following irrevocable instructions from Rightmove. The company confirmed it holds no unpublished price-sensitive information at the time of the announcement. **Key Points:** - **Programme Type:** Non-discretionary share buyback. - **Duration:** March 2, 2026 – July 31, 2026. - **Maximum Spend:** £90 million. - **Manager:** UBS AG London Branch. - **Purpose:** Purchase and cancellation of ordinary shares. - **Compliance:** Adheres to EU/UK regulations and Listing Rules.
**Summary**
Rightmove plc, the UKs leading property website, announced a non-discretionary share buyback programme on February 27, 2026. The programme, set to run from March 2 to July 31, 2026, authorizes the purchase of ordinary shares for cancellation, with a maximum aggregate purchase price of £90 million. The buyback will be executed within pre-set parameters, adhering to the companys general authority, EU and UK Market Abuse Regulations, and Listing Rules. UBS AG London Branch has been appointed to manage the programme independently, following irrevocable instructions from Rightmove. The company confirmed it holds no unpublished price-sensitive information at the time of the announcement.
**Key Points**
**Programme Type** Non-discretionary share buyback.
**Duration:** March 22026 – July 312026.
**Maximum Spend** £90 million.
**Manager** UBS AG London Branch.
**Purpose** Purchase and cancellation of ordinary shares.
**Compliance** Adheres to EU/UK regulations and Listing Rules.
BuyBack
06:06
93 Strong Beat
PSON
Pearson PLC
Positive
**Summary of Pearson 2025 Preliminary Results** **Financial Highlights and Performance** - **Revenue and Profit Growth**: Pearson reported a 4% underlying sales growth to £3,577 million in 2025, with adjusted operating profit rising 6% to £614 million. Adjusted earnings per share increased by 4% to 64.5p. - **Cash Flow**: Free cash flow grew by 8% to £527 million, with a strong cash conversion rate of 125%. Operating cash flow remained robust at £571 million. - **Dividends and Share Buybacks**: A 5% increase in the full-year dividend to 25.2p per share was announced. A £350 million share buyback program is underway, reducing the share count by 5%. **Strategic Progress** - **AI Integration**: Significant advancements in scaling AI across products and services, improving learner outcomes and educator efficiency. AI is now a foundational capability within Pearson. - **Enterprise Strategy**: Secured eight partnerships with industry leaders, including a strategic alliance with Salesforce, to expand into enterprise learning and skills development. - **Acquisitions**: Acquired eDynamic Learning, a leading provider of digital Career and Technical Education, for £168 million, enhancing capabilities in early careers and workforce readiness. **Segment Performance** - **Assessment & Qualifications**: 4% sales growth, driven by new contracts and digital expansion. - **Virtual Learning**: 8% sales growth, with strong enrolment increases and AI-driven enhancements. - **Higher Education**: 2% sales growth, supported by AI tools and Inclusive Access offerings. - **English Language Learning**: 1% sales growth, with PTE Express and institutional expansions. - **Enterprise Learning & Skills**: 6% sales growth, led by vocational qualifications and enterprise solutions. **Outlook for 2026** - **Sales Growth**: Mid-single digit underlying sales growth expected. - **Profit Guidance**: Adjusted operating profit projected at £640–£685 million, with free cash flow conversion of 90–100%. - **Focus Areas**: Continued AI integration, enterprise expansion, and core business strengthening. **Leadership and Governance** - **Executive Change**: Sally Johnson, Group CFO, will leave in 2026. Simon Robson, currently CFO at Sky, will succeed her, ensuring a smooth transition. **Conclusion** Pearson demonstrated strong financial and strategic performance in 2025, driven by AI innovation, enterprise partnerships, and operational efficiency. The company is well-positioned for continued growth in 2026, with a focus on leveraging AI to meet the evolving needs of learners and enterprises.
**Summary of Pearson 2025 Preliminary Results**
**Financial Highlights and Performance**
**Revenue and Profit Growth**Pearson reported a 4% underlying sales growth to £3,577 million in 2025, with adjusted operating profit rising 6% to £614 million. Adjusted earnings per share increased by 4% to 64.5p.
**Cash Flow**Free cash flow grew by 8% to £527 million, with a strong cash conversion rate of 125%. Operating cash flow remained robust at £571 million.
**Dividends and Share Buybacks**A 5% increase in the full-year dividend to 25.2p per share was announced. A £350 million share buyback program is underway, reducing the share count by 5%.
**Strategic Progress**
**AI Integration**Significant advancements in scaling AI across products and services, improving learner outcomes and educator efficiency. AI is now a foundational capability within Pearson.
**Enterprise Strategy**Secured eight partnerships with industry leaders, including a strategic alliance with Salesforce, to expand into enterprise learning and skills development.
**Acquisitions**Acquired eDynamic Learning, a leading provider of digital Career and Technical Education, for £168 million, enhancing capabilities in early careers and workforce readiness.
**Segment Performance**
**Assessment & Qualifications**4% sales growth, driven by new contracts and digital expansion.
**Virtual Learning**8% sales growth, with strong enrolment increases and AI-driven enhancements.
**Higher Education**2% sales growth, supported by AI tools and Inclusive Access offerings.
**English Language Learning**1% sales growth, with PTE Express and institutional expansions.
**Enterprise Learning & Skills**6% sales growth, led by vocational qualifications and enterprise solutions.
**Outlook for 2026**
**Sales Growth**Mid-single digit underlying sales growth expected.
**Profit Guidance**Adjusted operating profit projected at £640–£685 million, with free cash flow conversion of 90–100%.
**Focus Areas**Continued AI integration, enterprise expansion, and core business strengthening.
**Leadership and Governance**
**Executive Change**: Sally JohnsonGroup CFOwill leave in 2026. Simon Robsoncurrently CFO at Skywill succeed herensuring a smooth transition.
**Conclusion**
Pearson demonstrated strong financial and strategic performance in 2025, driven by AI innovation, enterprise partnerships, and operational efficiency. The company is well-positioned for continued growth in 2026, with a focus on leveraging AI to meet the evolving needs of learners and enterprises.
Here is the HTML table code comparing Pearson's financials and debt year on year:
Metric2025 (£m)2024 (£m)Change
Sales3,5773,552+1% (headline), +4% (underlying)
Adjusted Operating Profit614600+2% (headline), +6% (underlying)
Operating Cash Flow571662-14%
Free Cash Flow527490+8%
Net Debt1,069853+25%
Net Debt / Adjusted EBITDA1.3x1.1xN/A
Adjusted Earnings per Share (pence)64.562.1+4%
Dividend per Share (pence)25.224.0+5%

Key Observations:

  • Sales grew by 1% on a headline basis and 4% on an underlying basis, driven by growth in Assessment & Qualifications, Virtual Learning, and Enterprise Learning & Skills.
  • Adjusted operating profit increased by 2% on a headline basis and 6% on an underlying basis, with margin expansion from 16.9% to 17.2%.
  • Operating cash flow decreased by 14% due to an increase in working capital, while free cash flow increased by 8%.
  • Net debt increased by 25% primarily due to the share buyback program, acquisitions, and dividend payments.
  • Adjusted earnings per share grew by 4%, and the dividend per share increased by 5%.
This table provides a clear comparison of Pearson's key financial metrics and debt position between 2025 and 2024, highlighting both headline and underlying growth rates where applicable.
06:01
93 Strong Beat
RAT
Rathbone Brothers PLC
Positive
**Summary of Rathbones Group PLCs FY2025 Preliminary Results** **Financial Highlights:** - **Profit Before Tax (PBT):** Increased by 53.5% to £152.9 million, driven by synergy delivery and reduced integration costs. - **Underlying PBT:** Rose 4.6% to £238.1 million, supported by £76 million in annualized synergy benefits, exceeding the £60 million target. - **Funds Under Management and Administration (FUMA):** Grew 5.9% to £115.6 billion, despite market volatility in the first half. - **Operating Income:** Increased 3.1% to £923.3 million, with net interest income rising to £86.7 million due to IW&I client migration. - **Dividend:** Total dividend for the year increased 6.5% to 99.0p per share, reflecting confidence in long-term growth. **Strategic Progress:** - **Integration of Investec Wealth & Investment (IW&I):** Successfully completed, with synergy delivery ahead of schedule and integration costs reduced to £39.9 million. - **Share Buyback:** Completed a £50 million buyback in February 2026, with an additional £20 million extension announced. - **Operational Efficiency:** Progressed towards a 30% underlying operating margin target by Q4 2026, reaching 25.8% in 2025. **Strategic Priorities:** 1. **Client-Centric Focus:** Aiming to be the first choice for clients by enhancing investment capabilities, financial planning, and service experience. 2. **Talent Development:** Focused on attracting and retaining top talent through a great culture, motivating incentives, and AI-powered tools. 3. **Operational Excellence:** Simplifying operations, leveraging data, and consolidating platforms to improve efficiency and scalability. 4. **Brand Reputation:** Building a distinctive, trusted brand through leadership, purpose, and effective communication. **Leadership and Governance:** - **CEO Transition:** Jonathan Sorrell appointed as Group CEO, bringing fresh perspective and deep experience. - **Board Succession:** Planned changes include a new Senior Independent Director and the departure of Sarah Gentleman. **Outlook:** - **Market Position:** Competing from a position of strength in a growing market, with significant opportunities ahead. - **Financial Targets:** On track to achieve 30% underlying operating margin by Q4 2026, assuming 3% FUMA growth and stable economic conditions. **Conclusion:** Rathbones Group PLC demonstrated strong financial performance in FY2025, driven by successful integration, synergy realization, and strategic initiatives. The company is well-positioned for future growth, with a clear vision to become the best wealth manager in the UK, supported by a refreshed leadership team and a focus on client, talent, operational, and brand excellence.
**Summary of Rathbones Group PLCs FY2025 Preliminary Results**
**Financial Highlights**
**Profit Before Tax (PBT)** Increased by 53.5% to £152.9 million, driven by synergy delivery and reduced integration costs.
**Underlying PBT** Rose 4.6% to £238.1 million, supported by £76 million in annualized synergy benefits, exceeding the £60 million target.
**Funds Under Management and Administration (FUMA):** Grew 5.9% to £115.6 billion, despite market volatility in the first half.
**Operating Income** Increased 3.1% to £923.3 million, with net interest income rising to £86.7 million due to IW&I client migration.
**Dividend** Total dividend for the year increased 6.5% to 99.0p per share, reflecting confidence in long-term growth.
**Strategic Progress**
**Integration of Investec Wealth & Investment (IW&I):** Successfully completed, with synergy delivery ahead of schedule and integration costs reduced to £39.9 million.
**Share Buyback** Completed a £50 million buyback in February 2026, with an additional £20 million extension announced.
**Operational Efficiency** Progressed towards a 30% underlying operating margin target by Q4 2026, reaching 25.8% in 2025.
**Strategic Priorities**
1. **Client-Centric Focus** Aiming to be the first choice for clients by enhancing investment capabilities, financial planning, and service experience.
2. **Talent Development** Focused on attracting and retaining top talent through a great culture, motivating incentives, and AI-powered tools.
3. **Operational Excellence** Simplifying operations, leveraging data, and consolidating platforms to improve efficiency and scalability.
4. **Brand Reputation** Building a distinctive, trusted brand through leadership, purpose, and effective communication.
**Leadership and Governance**
**CEO Transition** Jonathan Sorrell appointed as Group CEO, bringing fresh perspective and deep experience.
**Board Succession** Planned changes include a new Senior Independent Director and the departure of Sarah Gentleman.
**Outlook**
**Market Position** Competing from a position of strength in a growing market, with significant opportunities ahead.
**Financial Targets** On track to achieve 30% underlying operating margin by Q4 2026, assuming 3% FUMA growth and stable economic conditions.
**Conclusion**
Rathbones Group PLC demonstrated strong financial performance in FY2025, driven by successful integration, synergy realization, and strategic initiatives. The company is well-positioned for future growth, with a clear vision to become the best wealth manager in the UK, supported by a refreshed leadership team and a focus on client, talent, operational, and brand excellence.
Here is a comparison of the financials and debt year on year for Rathbones Group PLC, presented as an HTML table:
Metric20242025Change
Operating Income (£m)895.9923.3+3.1%
Underlying Operating Expenses (£m)(668.3)(685.2)+2.5%
Underlying Profit Before Tax (£m)227.6238.1+4.6%
Profit Before Tax (£m)99.6152.9+53.5%
Earnings Per Share (p)63.0107.9+71.3%
Dividend Per Share (p)93.099.0+6.5%
Funds Under Management and Administration (£bn)109.2115.6+5.9%
Integration Costs (£m)(75.5)(39.9)-47.1%
Net Interest Income (£m)63.986.7+35.7%
Return on Capital Employed (ROCE)4.8%8.3%+73.0%
**Key Observations:** - **Profit Before Tax:** Increased significantly by 53.5% due to synergy delivery, higher average Funds Under Management and Administration (FUMA), and reduced integration costs. - **Earnings Per Share:** Rose by 71.3%, reflecting the improved profitability and share buyback program. - **Dividend Per Share:** Increased by 6.5%, demonstrating the company's commitment to returning value to shareholders. - **Funds Under Management and Administration (FUMA):** Grew by 5.9%, driven by market recovery and successful integration of Investec Wealth & Investment (IW&I). - **Integration Costs:** Decreased by 47.1%, indicating progress in the integration process and realization of synergies. - **Net Interest Income:** Increased by 35.7%, primarily due to the migration of IW&I clients onto the Rathbones banking model and synergy benefits. - **Return on Capital Employed (ROCE):** Improved by 73.0%, reflecting better utilization of capital and increased profitability. This table provides a concise comparison of key financial metrics and debt-related items, highlighting the year-on-year changes and trends for Rathbones Group PLC.
06:01
93 Strong Beat
WKS
Winking Studios Limited
Positive
**Summary of Winking Studios Limited Preliminary Results for the Year Ended 31 December 2025** **Financial Performance:** - **Revenue Growth:** Winking Studios reported a 42.6% increase in revenue to US$45.5 million in FY2025, driven by the acquisition of Mineloader (US$11.4 million contribution) and organic growth of 8.6%. Excluding Mineloader, underlying revenue growth was 7.0%. - **Gross Profit:** Gross profit rose 43.2% to US$13.5 million, with a stable gross margin of 29.8%. - **Adjusted EBITDA:** Increased by 13.2% to US$5.4 million, despite higher public listing costs and expanded operational costs post-acquisitions. - **Adjusted Net Profit:** Rose to US$3.0 million from US$0.3 million in FY2024, reflecting improved operational efficiency and scale. - **Cash Position:** Ended FY2025 with US$28.8 million in cash, cash equivalents, and bond investments, maintaining a debt-free status. **Strategic Highlights:** - **Acquisition of Mineloader:** Successfully integrated Mineloader, adding AAA console capabilities and significantly expanding the studio network. - **Launch of Vertic Studios:** Established a new high-end art production brand in Southeast Asia, focusing on AAA projects with English-speaking teams. - **Expansion of AAA Titles:** Increased the number of AAA titles worked on from 14 in FY2024 to 117 in FY2025, supported by Mineloader and the expanded studio network. - **Headcount Growth:** Employee count increased by 68.6% to 1,426, reflecting the addition of Mineloader and continued investment in Southeast Asia. **Geographic Performance:** - **Mainland China and Hong Kong:** Remained the largest revenue contributor, increasing 51.1% to US$16.7 million. - **United States:** Revenue more than doubled to US$7.3 million, primarily due to Mineloaders contribution. - **Repeat Revenue:** Represented 32.8% of total revenue, down from 41.4% in FY2024, due to the larger mix of console projects post-Mineloader acquisition. **Outlook:** - **Revenue Visibility:** Indicative artist bookings of at least US$48.6 million over the next 24 months, with approximately US$34.6 million expected to be recognized as revenue in FY2026. - **Market Conditions:** Global games market is entering a recovery phase, with outsourcing demand exceeding earlier expectations, though price sensitivity remains. - **Strategic Priorities:** Focus on establishing an operational presence in Western markets and pursuing selective M&A opportunities. - **Board Confidence:** Supported by favorable market drivers, strong revenue visibility, increased capacity, and a robust balance sheet, the Board is confident in the Groups positioning for FY2026 and its ability to execute its growth strategy. **CEOs Statement:** Johnny Jan, CEO, highlighted FY2025 as a standout year with strong growth, meaningful scaling, and successful integration of Mineloader. He emphasized the recovery in organic momentum in the second half and the step-change in AAA delivery. Looking ahead, the focus is on executing the next stage of growth, including investing in Southeast Asia and establishing a Western market presence. The CEO expressed confidence in the Groups strategy and ability to deliver sustainable value for shareholders, supported by a strong balance sheet and favorable market conditions.
**Summary of Winking Studios Limited Preliminary Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Winking Studios reported a 42.6% increase in revenue to US$45.5 million in FY2025, driven by the acquisition of Mineloader (US$11.4 million contribution) and organic growth of 8.6%. Excluding Mineloader, underlying revenue growth was 7.0%.
**Gross Profit** Gross profit rose 43.2% to US$13.5 million, with a stable gross margin of 29.8%.
**Adjusted EBITDA** Increased by 13.2% to US$5.4 million, despite higher public listing costs and expanded operational costs post-acquisitions.
**Adjusted Net Profit** Rose to US$3.0 million from US$0.3 million in FY2024, reflecting improved operational efficiency and scale.
**Cash Position** Ended FY2025 with US$28.8 million in cash, cash equivalents, and bond investments, maintaining a debt-free status.
**Strategic Highlights**
**Acquisition of Mineloader** Successfully integrated Mineloader, adding AAA console capabilities and significantly expanding the studio network.
**Launch of Vertic Studios** Established a new high-end art production brand in Southeast Asia, focusing on AAA projects with English-speaking teams.
**Expansion of AAA Titles** Increased the number of AAA titles worked on from 14 in FY2024 to 117 in FY2025, supported by Mineloader and the expanded studio network.
**Headcount Growth** Employee count increased by 68.6% to 1,426, reflecting the addition of Mineloader and continued investment in Southeast Asia.
**Geographic Performance**
**Mainland China and Hong Kong** Remained the largest revenue contributor, increasing 51.1% to US$16.7 million.
**United States** Revenue more than doubled to US$7.3 million, primarily due to Mineloaders contribution.
**Repeat Revenue** Represented 32.8% of total revenue, down from 41.4% in FY2024, due to the larger mix of console projects post-Mineloader acquisition.
**Outlook**
**Revenue Visibility** Indicative artist bookings of at least US$48.6 million over the next 24 months, with approximately US$34.6 million expected to be recognized as revenue in FY2026.
**Market Conditions** Global games market is entering a recovery phase, with outsourcing demand exceeding earlier expectations, though price sensitivity remains.
**Strategic Priorities** Focus on establishing an operational presence in Western markets and pursuing selective M&A opportunities.
**Board Confidence** Supported by favorable market drivers, strong revenue visibility, increased capacity, and a robust balance sheet, the Board is confident in the Groups positioning for FY2026 and its ability to execute its growth strategy.
**CEOs Statement**
Johnny Jan, CEO, highlighted FY2025 as a standout year with strong growth, meaningful scaling, and successful integration of Mineloader. He emphasized the recovery in organic momentum in the second half and the step-change in AAA delivery. Looking ahead, the focus is on executing the next stage of growth, including investing in Southeast Asia and establishing a Western market presence. The CEO expressed confidence in the Groups strategy and ability to deliver sustainable value for shareholders, supported by a strong balance sheet and favorable market conditions.
Here’s an HTML table comparing the financials and debt of Winking Studios Limited for FY2025 and FY2024:
MetricFY2025 (US$ million)FY2024 (US$ million)Change (%)
Revenue45.531.9+42.6%
Gross Profit13.59.5+42.1%
Gross Margin (%)29.7%29.8%+0.1 percentage point
Adjusted EBITDA5.44.8+12.5%
Adjusted EBITDA Margin (%)12.0%15.1%-3.1 percentage points
EBITDA3.42.0+70.0%
Adjusted Net Profit3.03.4-11.8%
Net Profit0.30.5-40.0%
Cash, Cash Equivalents, and Bond Investments28.841.3-30.3%
Debt000%
### Key Highlights: 1. **Revenue Growth**: Revenue increased by 42.6% from FY2024 to FY2025, driven by organic growth and the acquisition of Mineloader. 2. **Gross Profit**: Gross profit rose by 42.1%, in line with revenue growth, while gross margin remained stable. 3. **Adjusted EBITDA**: Adjusted EBITDA grew by 12.5%, though the margin decreased due to higher expenses. 4. **Net Profit**: Net profit declined by 40.0%, primarily due to increased operating costs and non-recurring gains in FY2024. 5. **Cash Position**: Cash and cash equivalents decreased by 30.3% due to the acquisition of Mineloader, but the company remains debt-free. This table provides a clear comparison of key financial metrics and debt position year-on-year.
06:01
88 Trading Edge
LDG
Logistics Development Group PLC
Positive
**Summary:** Logistics Development Group PLC (LDG) released its quarterly portfolio update on February 27, 2026, announcing an unaudited estimated net asset value (NAV) per share of 26.7 pence as of December 31, 2025, unchanged from the previous quarter. The NAV was assessed by LDGs investment manager, DBAY, using international valuation guidelines. **Portfolio Highlights:** 1. **Finsbury Food Group Ltd (25.31% stake):** - Generated £445 million in revenue (FY June 2025) from its specialty bakery business. - Acquired Lolas Cupcakes, entering the direct-to-consumer market. - Completed a refinancing in January 2026, returning £11.4 million in capital to LDG, reducing exposure to £2.8 million. 2. **SQLI SA (10.73% stake):** - A pan-European IT services company with revenue of €252 million (FY December 2025). - Outperformed market peers with improved EBITDA margins in FY2025. - Implemented operational improvements and AI-driven initiatives to enhance profitability. 3. **Alliance Pharma plc (24.54% stake):** - Delivered £144 million in revenue (FY December 2025) from consumer healthcare products. - Disposed of small prescription brands, reducing debt and de-risking LDGs investment. - Optimized its China go-to-market strategy with a new distributor for Kelo-Cote. 4. **WS Holdco Limited (42.60% stake, increasing to 51.3% post-investment):** - Acquired WS companies and established WS People Providers for staffing services. - Focused on scaling through complementary acquisitions and improving efficiency. - Received a £10 million investment from LDG in January 2026 to support growth. **Investment Managers Summary:** LDGs portfolio demonstrated solid growth and profitability in FY2025, despite macro volatility. The companys focus on stable, infrastructure-like sectors (e.g., bakeries, consumer health) and AI-driven cost reductions has proven effective. With a fully invested portfolio, LDG is now concentrating on value creation through operational improvements, overhead optimization, and management strengthening. The performance underscores the success of LDGs disciplined investment approach, emphasizing cash generation and attractive valuations.
**Summary**
Logistics Development Group PLC (LDG) released its quarterly portfolio update on February 27, 2026, announcing an unaudited estimated net asset value (NAV) per share of 26.7 pence as of December 31, 2025, unchanged from the previous quarter. The NAV was assessed by LDGs investment manager, DBAY, using international valuation guidelines.
**Portfolio Highlights**
1. **Finsbury Food Group Ltd (25.31% stake):**
Generated £445 million in revenue (FY June 2025) from its specialty bakery business.
Acquired Lolas Cupcakes, entering the direct-to-consumer market.
Completed a refinancing in January 2026, returning £11.4 million in capital to LDG, reducing exposure to £2.8 million.
2. **SQLI SA (10.73% stake)**
A pan-European IT services company with revenue of €252 million (FY December 2025).
Outperformed market peers with improved EBITDA margins in FY2025.
Implemented operational improvements and AI-driven initiatives to enhance profitability.
3. **Alliance Pharma plc (24.54% stake)**
Delivered £144 million in revenue (FY December 2025) from consumer healthcare products.
Disposed of small prescription brands, reducing debt and de-risking LDGs investment.
Optimized its China go-to-market strategy with a new distributor for Kelo-Cote.
4. **WS Holdco Limited (42.60% stake, increasing to 51.3% post-investment):**
Acquired WS companies and established WS People Providers for staffing services.
Focused on scaling through complementary acquisitions and improving efficiency.
Received a £10 million investment from LDG in January 2026 to support growth.
**Investment Managers Summary**
LDGs portfolio demonstrated solid growth and profitability in FY2025, despite macro volatility. The companys focus on stable, infrastructure-like sectors (e.g., bakeries, consumer health) and AI-driven cost reductions has proven effective. With a fully invested portfolio, LDG is now concentrating on value creation through operational improvements, overhead optimization, and management strengthening. The performance underscores the success of LDGs disciplined investment approach, emphasizing cash generation and attractive valuations.
Below is the HTML table code comparing the financials and debt (where available) year-on-year for the investments in Logistics Development Group PLC's portfolio, based on the provided text:
CompanyLDG's Economic InterestTotal Investment at Cost (£m)Revenue (Latest Financial Year)Revenue (Previous Year)Debt/Refinancing Details
Finsbury Food Group Ltd25.31%14.2£445m (FY June 2025)N/ARefinanced in Jan 2026; £11.4m return of capital, reducing exposure to £2.8m
SQLI SA10.73%13.3€252m (FY Dec 2025, Unaudited)N/AImproved EBITDA margin in FY2025 vs FY2024
Alliance Pharma plc24.54%39.0£144m (FY Dec 2025, Unaudited)N/ADisposed of prescription brands in Jan 2026; proceeds used to pay down debt
WS Holdco Limited42.60% (increasing to 51.3% post-investment)15.0 (additional £10m reallocated in Jan 2026)N/AN/A£10m investment reallocated from Finsbury's return of capital in Jan 2026
Other Minority Interests2.71%2.3N/AN/AN/A
### Notes: 1. **Revenue Comparison**: The table includes the latest revenue figures for each company. Since the previous year's revenue is not provided in the text, it is marked as "N/A". 2. **Debt/Refinancing**: Details on debt reduction or refinancing activities are included where mentioned in the text. 3. **WS Holdco**: Revenue data is not available, hence marked as "N/A". The investment increase is noted in the debt/refinancing column. 4. **Other Minority Interests**: No specific financial or debt details are provided, hence marked as "N/A". This table provides a clear comparison of key financials and debt-related activities for each investment in LDG's portfolio.
06:01
93 Strong Beat
MRO
Melrose Industries PLC
Positive
Melrose Industries PLC, a global aerospace and defense company, reported strong financial results for the year ended December 31, 2025, with revenue growth of 8% to £3.589 billion and adjusted operating profit up 23% to £647 million. The companys performance was driven by increased demand in the Engines and Defence segments, as well as the successful completion of a multi-year transformation program. Key highlights include: - Revenue growth of 8% to £3.589 billion, with like-for-like growth of 8% - Adjusted operating profit up 23% to £647 million, with margins improving by 240 basis points to 18.0% - Free cash flow generation of £125 million, a significant improvement from the previous years outflow of £74 million - Completion of a multi-year transformation program, providing a strong foundation for future growth - Strong commercial progress, including key customer contract wins and new partnerships - Quality and productivity gains achieved in a complex operating environment - New share buyback program of £175 million announced - Increase in final dividend to 4.8p, taking the full-year dividend to 7.2p, a 20% increase The companys Engines segment saw revenue growth of 15% to £1.632 billion, driven by strong performance in both original equipment and aftermarket sales. The Airframes segment, renamed from Structures, saw revenue growth of 3% to £1.957 billion, with strong performance in the Defence sub-segment. Melroses CEO, Peter Dilnot, expressed confidence in the companys future prospects, stating that the company is well-positioned to benefit from expected production ramp-ups and ongoing aftermarket expansion. The company expects to deliver further growth in revenue, profit, and cash flow in 2026, with a clear path to achieving its 2029 targets. In terms of financial metrics, Melrose reported: - Adjusted diluted EPS up 25% to 32.1 pence - Net debt of £1.407 billion, with leverage of 1.8x - Return on capital employed (ROCE) of 18.0% The companys strong performance and positive outlook were reflected in its share price, which increased by 5% on the day of the announcement. Overall, Melrose Industries PLCs 2025 results demonstrate the companys successful transformation and strong positioning in the aerospace and defense industry, with a clear strategy for future growth and value creation.
Melrose Industries PLC, a global aerospace and defense company, reported strong financial results for the year ended December 31, 2025, with revenue growth of 8% to £3.589 billion and adjusted operating profit up 23% to £647 million. The companys performance was driven by increased demand in the Engines and Defence segments, as well as the successful completion of a multi-year transformation program. Key highlights include
Revenue growth of 8% to £3.589 billion, with like-for-like growth of 8%
Adjusted operating profit up 23% to £647 million, with margins improving by 240 basis points to 18.0%
Free cash flow generation of £125 million, a significant improvement from the previous years outflow of £74 million
Completion of a multi-year transformation program, providing a strong foundation for future growth
Strong commercial progress, including key customer contract wins and new partnerships
Quality and productivity gains achieved in a complex operating environment
New share buyback program of £175 million announced
Increase in final dividend to 4.8p, taking the full-year dividend to 7.2p, a 20% increase
The companys Engines segment saw revenue growth of 15% to £1.632 billion, driven by strong performance in both original equipment and aftermarket sales. The Airframes segment, renamed from Structures, saw revenue growth of 3% to £1.957 billion, with strong performance in the Defence sub-segment.
Melroses CEO, Peter Dilnot, expressed confidence in the companys future prospects, stating that the company is well-positioned to benefit from expected production ramp-ups and ongoing aftermarket expansion. The company expects to deliver further growth in revenue, profit, and cash flow in 2026, with a clear path to achieving its 2029 targets.
In terms of financial metricsMelrose reported
Adjusted diluted EPS up 25% to 32.1 pence
Net debt of £1.407 billionwith leverage of 1.8x
Return on capital employed (ROCE) of 18.0%
The companys strong performance and positive outlook were reflected in its share price, which increased by 5% on the day of the announcement. Overall, Melrose Industries PLCs 2025 results demonstrate the companys successful transformation and strong positioning in the aerospace and defense industry, with a clear strategy for future growth and value creation.
Here is the HTML table code comparing the financials and debt year on year for Melrose Industries PLC:
Metric2025 (£m)2024 (£m)Change
Revenue3,5893,4688% increase
Operating Profit64754023% increase
Profit Before Tax51543821% increase
Free Cash Flow125(74)£199m increase
Net Debt1,4071,321£86m increase
Leverage (x)1.81.90.1x decrease
**Key Observations:** - Revenue increased by 8% from £3,468m in 2024 to £3,589m in 2025. - Operating profit increased significantly by 23% from £540m in 2024 to £647m in 2025. - Profit before tax also increased by 21% from £438m in 2024 to £515m in 2025. - Free cash flow turned positive, increasing by £199m from -£74m in 2024 to £125m in 2025. - Net debt increased by £86m from £1,321m in 2024 to £1,407m in 2025. - Leverage decreased slightly from 1.9x in 2024 to 1.8x in 2025. This table provides a concise comparison of key financial metrics and debt levels for Melrose Industries PLC between 2024 and 2025.
06:01
80 Positive
SNR
Senior PLC
Positive
**Summary:** Senior PLC announced on February 27, 2026, that it is in discussions with multiple potential offerors regarding a possible takeover offer for the entire issued and to-be-issued share capital of the company. The Board has received several all-cash proposals, including two superior offers from different parties, but no firm offer has been made, and there is no certainty that an offer will materialize. The Board has postponed a planned £40 million buyback program due to these ongoing discussions. The company is now in an "offer period" under the City Code on Takeovers and Mergers, triggering specific disclosure requirements for shareholders and interested parties. The announcement also includes regulatory notices, details of financial advisers, and compliance information.
**Summary**
Senior PLC announced on February 27, 2026, that it is in discussions with multiple potential offerors regarding a possible takeover offer for the entire issued and to-be-issued share capital of the company. The Board has received several all-cash proposals, including two superior offers from different parties, but no firm offer has been made, and there is no certainty that an offer will materialize. The Board has postponed a planned £40 million buyback program due to these ongoing discussions. The company is now in an "offer period" under the City Code on Takeovers and Mergers, triggering specific disclosure requirements for shareholders and interested parties. The announcement also includes regulatory notices, details of financial advisers, and compliance information.
Offers
06:01
93 Strong Beat
BLU
Blue Star Capital plc
Positive
**Summary of Blue Star Capital PLCs Final Results for the Year Ended 30 September 2025** Blue Star Capital PLC, an investing company focused on blockchain and payments, announced its final results for the year ended 30 September 2025. Key highlights include: ### **Financial Performance** - **Pre-tax Loss**: Reduced to £665,606 from £4,491,966 in the prior year, primarily due to a significantly lower fair value movement on investments (£346,928 vs. £4,312,519 in 2024). - **Net Assets**: Increased materially to £2,865,895 (2024: £937,381), driven by new equity capital raised and the increased carrying value of the investment in SatoshiPay Limited. - **Valuation of Investments**: Increased to £1,553,643 (2024: £970,394), with the carrying value of the SatoshiPay investment at £1,526,492. ### **Strategic Investments** - **SatoshiPay Limited**: Increased exposure through: - A €75,000 subscription via a SAFE instrument. - Acquisition of 4,531 shares (22.0% of SatoshiPays issued share capital) in exchange for 4,412,096 new ordinary shares in Blue Star. - A £1,000,000 secured loan to SatoshiPay, with a fair value gain of £15,246 recognized in profit or loss. - **Other Investments**: Reduced carrying values of Dynasty Gaming & Media and Paidia Esports Inc. to £13,965 and £13,186, respectively, due to ongoing uncertainty. ### **Capital Activities** - **Share Consolidation and Subdivision**: Completed a 200:1 share consolidation and subdivision, facilitating equity fundraisings, including £1.15 million raised in July 2025. - **Cash Position**: Improved to £313,236 (2024: £5,828), with prudent cash management and alignment of directors remuneration with long-term shareholder value. ### **Operational Highlights** - **SatoshiPays Vortex Platform**: Launched a fiat-to-crypto infrastructure platform, operational in Brazil, Europe, Argentina, and expanding to the US. Achieved over $10 million in transaction volumes in January 2026. - **Nabla.fi**: Successfully integrated with DEX aggregators, generating yield on crypto tokens. ### **Outlook** - **Focus on Vortex**: The success of Vortex and its impact on SatoshiPays valuation are critical to Blue Stars future. The Board believes its 58% stake in SatoshiPay could provide significant returns. - **Cost Management**: Continued focus on eliminating non-essential spending and aligning directors remuneration with equity-linked instruments. ### **Corporate Governance** - **Annual General Meeting (AGM)**: Scheduled for 24 March 2026 at Cairn Financial Advisers LLP, London. Shareholders are encouraged to vote via proxy. ### **Chairmans Statement** Tony Fabrizi, Executive Chairman, emphasized the significant progress made by SatoshiPay, particularly through its Vortex platform, and the potential for substantial returns for Blue Star shareholders. The Board remains confident in SatoshiPays growth prospects despite valuation challenges. ### **Auditors Report** Adler Shine LLP provided an unqualified opinion, highlighting key audit matters including the valuation of investments and going concern considerations. The Company is reliant on future fundraisings to continue operations, with material uncertainty noted. ### **Financial Statements** Detailed financial statements, including the Statement of Comprehensive Income, Statement of Financial Position, and Cash Flow Statement, were provided, showing improvements in net assets, cash position, and investment valuations. ### **Post Balance Sheet Events** - Subscribed for additional €250,000 in SatoshiPay via SAFE Notes. - Directors awarded warrants as partial remuneration in lieu of salary. - Settled the loan to SatoshiPay with a combination of SAFE Notes and cash repayment, reflecting the decline in the digital asset portfolios value. Blue Star Capital remains focused on its strategic investments, particularly in SatoshiPay, with a cautious yet optimistic outlook for future growth and shareholder value.
**Summary of Blue Star Capital PLCs Final Results for the Year Ended 30 September 2025**
Blue Star Capital PLC, an investing company focused on blockchain and payments, announced its final results for the year ended 30 September 2025. Key highlights include
### **Financial Performance**
**Pre-tax Loss**Reduced to £665,606 from £4,491,966 in the prior year, primarily due to a significantly lower fair value movement on investments (£346,928 vs. £4,312,519 in 2024).
**Net Assets**Increased materially to £2,865,895 (2024: £937,381), driven by new equity capital raised and the increased carrying value of the investment in SatoshiPay Limited.
**Valuation of Investments**Increased to £1,553,643 (2024: £970,394), with the carrying value of the SatoshiPay investment at £1,526,492.
### **Strategic Investments**
**SatoshiPay Limited**Increased exposure through
A €75,000 subscription via a SAFE instrument.
Acquisition of 4,531 shares (22.0% of SatoshiPays issued share capital) in exchange for 4,412,096 new ordinary shares in Blue Star.
A £1000000 secured loan to SatoshiPaywith a fair value gain of £15246 recognized in profit or loss.
**Other Investments**Reduced carrying values of Dynasty Gaming & Media and Paidia Esports Inc. to £13,965 and £13,186, respectively, due to ongoing uncertainty.
### **Capital Activities**
**Share Consolidation and Subdivision**Completed a 200:1 share consolidation and subdivision, facilitating equity fundraisings, including £1.15 million raised in July 2025.
**Cash Position**Improved to £313,236 (2024: £5,828), with prudent cash management and alignment of directors remuneration with long-term shareholder value.
### **Operational Highlights**
**SatoshiPays Vortex Platform**Launched a fiat-to-crypto infrastructure platform, operational in Brazil, Europe, Argentina, and expanding to the US. Achieved over $10 million in transaction volumes in January 2026.
**Nabla.fi**Successfully integrated with DEX aggregators, generating yield on crypto tokens.
### **Outlook**
**Focus on Vortex**The success of Vortex and its impact on SatoshiPays valuation are critical to Blue Stars future. The Board believes its 58% stake in SatoshiPay could provide significant returns.
**Cost Management**Continued focus on eliminating non-essential spending and aligning directors remuneration with equity-linked instruments.
### **Corporate Governance**
**Annual General Meeting (AGM)**Scheduled for 24 March 2026 at Cairn Financial Advisers LLP, London. Shareholders are encouraged to vote via proxy.
### **Chairmans Statement**
Tony Fabrizi, Executive Chairman, emphasized the significant progress made by SatoshiPay, particularly through its Vortex platform, and the potential for substantial returns for Blue Star shareholders. The Board remains confident in SatoshiPays growth prospects despite valuation challenges.
### **Auditors Report**
Adler Shine LLP provided an unqualified opinion, highlighting key audit matters including the valuation of investments and going concern considerations. The Company is reliant on future fundraisings to continue operations, with material uncertainty noted.
### **Financial Statements**
Detailed financial statements, including the Statement of Comprehensive Income, Statement of Financial Position, and Cash Flow Statement, were provided, showing improvements in net assets, cash position, and investment valuations.
### **Post Balance Sheet Events**
Subscribed for additional €250000 in SatoshiPay via SAFE Notes.
Directors awarded warrants as partial remuneration in lieu of salary.
Settled the loan to SatoshiPay with a combination of SAFE Notes and cash repayment, reflecting the decline in the digital asset portfolios value.
Blue Star Capital remains focused on its strategic investments, particularly in SatoshiPay, with a cautious yet optimistic outlook for future growth and shareholder value.
Here is a comparison of Blue Star Capital's financials and debt year-on-year, presented as an HTML table:
Metric20242025Change
Pre-tax Loss (£)4,491,966665,606(85%)
Net Assets (£)937,3812,865,895206%
Cash Position (£)5,828313,2365,271%
Valuation of Investments (£)970,3941,553,64359%
Loan Receivable (£)01,015,246N/A
Administrative Expenses (£)162,309193,25719%
Share-based Payment Charge (£)0126,700N/A
Net Cash from Financing Activities (£)100,0001,585,0001,485%

Debt Comparison

Debt Type2024 (£)2025 (£)Change
Loan to SatoshiPay01,000,000N/A
Loan Repayment (2026)N/A-115,000N/A
SAFE Agreements (2026)N/A658,634N/A

Notes:

  • The loan to SatoshiPay was advanced in 2025 and partially repaid in 2026, with the remaining balance converted into SAFE agreements.
  • The SAFE agreements are not considered debt but rather a form of equity investment, as they provide downside protection and a valuation cap.
  • The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
**Key Takeaways:** * Blue Star Capital significantly reduced its pre-tax loss from £4.49 million in 2024 to £0.67 million in 2025, primarily due to lower fair value movements on investments. * Net assets and cash position increased substantially in 2025, driven by new equity capital raised and increased carrying value of investments. * The company advanced a £1 million loan to SatoshiPay in 2025, which was partially repaid in 2026, with the remaining balance converted into SAFE agreements. * Administrative expenses and share-based payment charges increased in 2025, reflecting higher professional costs and transaction activity. * The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
06:01
80 Positive
ARK
Arkle Resources PLC
Positive
**Summary:** Arkle Resources PLC (AIM: ARK), a multi-commodity exploration company focused on energy metals (uranium, lithium, zinc), announced the issuance of 10,000,000 new ordinary shares at 0.35 pence per share following the exercise of warrants, raising GBP 35,000. Post-admission of these shares on AIM (expected around March 4, 2026), the company’s total issued shares and voting rights will increase to 1,478,977,664. Arkle also launched a new website (www.arkleresources.com) reflecting its forward strategy and plans to release an updated investor presentation and host a webinar soon. The company highlighted its recent transformative acquisition of Namibia Uranium, which positions it as a leading explorer in energy metals, with projects in Namibia, Botswana, and Ireland. **Key Points:** 1. **Warrant Exercise:** 10,000,000 new shares issued at 0.35 pence, raising GBP 35,000. 2. **Total Shares Post-Admission:** 1,478,977,664 ordinary shares. 3. **Website Launch:** New website reflects updated strategy and includes project maps. 4. **Strategic Repositioning:** Recent Namibia Uranium acquisition enhances Arkle’s focus on energy metals exploration. 5. **Upcoming Activities:** Investor presentation and webinar planned for near future.
**Summary**
Arkle Resources PLC (AIMARK), a multi-commodity exploration company focused on energy metals (uranium, lithium, zinc), announced the issuance of 10,000,000 new ordinary shares at 0.35 pence per share following the exercise of warrants, raising GBP 35,000. Post-admission of these shares on AIM (expected around March 4, 2026), the company’s total issued shares and voting rights will increase to 1,478,977,664. Arkle also launched a new website (www.arkleresources.com) reflecting its forward strategy and plans to release an updated investor presentation and host a webinar soon. The company highlighted its recent transformative acquisition of Namibia Uranium, which positions it as a leading explorer in energy metals, with projects in Namibia, Botswana, and Ireland.
**Key Points**
1. **Warrant Exercise:** 10000000 new shares issued at 0.35 penceraising GBP 35000.
2. **Total Shares Post-Admission** 1,478,977,664 ordinary shares.
3. **Website Launch** New website reflects updated strategy and includes project maps.
4. **Strategic Repositioning** Recent Namibia Uranium acquisition enhances Arkle’s focus on energy metals exploration.
5. **Upcoming Activities** Investor presentation and webinar planned for near future.
Launch
06:01
84 Broker Upgrade
RMV
Rightmove PLC
Positive
**Summary of Rightmove Plcs Annual Financial Report (2025)** Rightmove Plc, the UKs leading property portal, reported strong financial and operational performance for the year ended 31 December 2025, highlighting accelerated innovation and clear value recognition from partners and consumers. **Key Financial Highlights:** - **Revenue and Profit Growth:** Revenue increased by 9% to £425.1 million, with underlying operating profit up 9% to £297.7 million. Operating profit rose 12% to £287.9 million. - **Strategic Growth Areas:** Combined revenue from Commercial Property, Mortgages, and Rental Services grew by 25% to £29.1 million. - **Earnings Per Share (EPS):** Basic EPS increased by 15% to 28.1p, and underlying EPS grew by 11% to 29.1p. - **Dividends and Share Buybacks:** A final dividend of 6.59p per share (up 8%) was announced, with a total dividend of 10.64p. A £90 million share buyback program was also initiated, to be completed by 31 July 2026. **Operational Achievements:** - **Partner Engagement:** Agency membership grew by 2%, with the second-highest retention rate in over 10 years. New AI-enabled products like Online Agent Valuation saw rapid adoption. - **Consumer Engagement:** Record time spent on Rightmove (89% Comscore; 75% SimilarWeb/data.ai/Sensor Tower) with over 85% of traffic direct and organic. AI-powered features enhanced user experience. - **Technology Innovation:** Launched 24% more products/features, including conversational search and AI-driven tools, supported by a multi-year collaboration with Google Cloud. **Market Trends and Outlook:** - **Property Market:** Supportive conditions with falling interest rates and mortgage costs. Sales transactions increased by 10% to 1.2 million, while rental demand remained strong. - **2026 Guidance:** Revenue growth of 8-10% is expected, with strategic growth areas projected to grow by 20-30%. Underlying operating profit margin is forecast at 67% due to increased investment in innovation. **Strategic Focus:** Rightmove is accelerating investment in AI-powered operations, consumer and partner innovation, and new growth initiatives to sustain double-digit growth. The company aims to deepen its role in digitizing the UK property market ecosystem, enhancing value for all stakeholders. **Leadership and Sustainability:** CEO Johan Svanstrom emphasized Rightmoves commitment to innovation, sustainability, and community support, while Chair Andrew Fisher highlighted the companys resilience and strategic focus on long-term growth. **Conclusion:** Rightmove Plc demonstrated robust financial performance, strategic innovation, and strong market positioning in 2025, setting a positive trajectory for continued growth and value creation in 2026 and beyond.
**Summary of Rightmove Plcs Annual Financial Report (2025)**
Rightmove Plc, the UKs leading property portal, reported strong financial and operational performance for the year ended 31 December 2025, highlighting accelerated innovation and clear value recognition from partners and consumers.
**Key Financial Highlights**
**Revenue and Profit Growth** Revenue increased by 9% to £425.1 million, with underlying operating profit up 9% to £297.7 million. Operating profit rose 12% to £287.9 million.
**Strategic Growth Areas** Combined revenue from Commercial Property, Mortgages, and Rental Services grew by 25% to £29.1 million.
**Earnings Per Share (EPS)** Basic EPS increased by 15% to 28.1p, and underlying EPS grew by 11% to 29.1p.
**Dividends and Share Buybacks** A final dividend of 6.59p per share (up 8%) was announced, with a total dividend of 10.64p. A £90 million share buyback program was also initiated, to be completed by 31 July 2026.
**Operational Achievements**
**Partner Engagement** Agency membership grew by 2%, with the second-highest retention rate in over 10 years. New AI-enabled products like Online Agent Valuation saw rapid adoption.
**Consumer Engagement** Record time spent on Rightmove (89% Comscore
75% SimilarWeb/data.ai/Sensor Tower) with over 85% of traffic direct and organic. AI-powered features enhanced user experience.
**Technology Innovation** Launched 24% more products/features, including conversational search and AI-driven tools, supported by a multi-year collaboration with Google Cloud.
**Market Trends and Outlook**
**Property Market** Supportive conditions with falling interest rates and mortgage costs. Sales transactions increased by 10% to 1.2 million, while rental demand remained strong.
**2026 Guidance** Revenue growth of 8-10% is expected, with strategic growth areas projected to grow by 20-30%. Underlying operating profit margin is forecast at 67% due to increased investment in innovation.
**Strategic Focus**
Rightmove is accelerating investment in AI-powered operations, consumer and partner innovation, and new growth initiatives to sustain double-digit growth. The company aims to deepen its role in digitizing the UK property market ecosystem, enhancing value for all stakeholders.
**Leadership and Sustainability**
CEO Johan Svanstrom emphasized Rightmoves commitment to innovation, sustainability, and community support, while Chair Andrew Fisher highlighted the companys resilience and strategic focus on long-term growth.
**Conclusion**
Rightmove Plc demonstrated robust financial performance, strategic innovation, and strong market positioning in 2025, setting a positive trajectory for continued growth and value creation in 2026 and beyond.
Here is the HTML table code comparing the financials and debt year on year for Rightmove Plc based on the provided text:
Metric20252024Change% Change
Revenue£425.1m£389.9m£35.2m+9%
Operating Profit£287.9m£256.3m£31.6m+12%
Underlying Operating Profit£297.7m£273.9m£23.8m+9%
Final Dividend per Share6.59p6.10p0.49p+8%
Basic Earnings per Share28.1p24.4p3.7p+15%
Underlying Basic Earnings per Share29.1p26.2p2.9p+11%
Total Debt (not explicitly mentioned, but cash position is provided)£0 (debt-free)£0 (debt-free)£00%
Cash and Money Market Deposits£42.9m£41.3m£1.6m+4%
**Notes:** - The table includes the key financial metrics mentioned in the text, comparing 2025 and 2024. - Since the text does not explicitly mention debt, it is assumed that Rightmove Plc is debt-free based on the statement "Throughout the period, the Group was debt-free". - The cash position is included to provide insight into the company's liquidity. - All values are in GBP (£) and percentages are calculated based on the provided data.
06:01
80 Positive
SRT
SRT Marine Systems plc
Positive
Please provide the text you would like me to summarize. Im ready when you are!
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06:01
84 Broker Upgrade
VOX
Vox Valor Capital Ltd.
Positive
**Summary of Vox Valor Capital Limiteds Half-Year Financial Report (February 2026)** **Overview** Vox Valor Capital Limited (LSE: VOX) released its unaudited interim financial statements for the six months ended 30 November 2025. The Group operates in mobile marketing and advertising through its subsidiaries: Mobio Global Limited (UK), Mobio Singapore Pte Ltd, and Mobio Global Inc. (US). The Group employs 30 contractors and employees across its subsidiaries. **Financial Highlights** - **Revenue**: USD 5.2 million (H1 2024: USD 6.2 million). The decline reflects a strategic shift to prioritize the US market, leading to reduced focus on lower-margin activities in the UK. - **Revenue Breakdown**: - Mobio Singapore: USD 3.2 million (H1 2024: USD 3.6 million). - Mobio Global US: USD 1.1 million (H1 2024: USD 0.6 million), showing significant growth due to increased investment. - Mobio Global UK: USD 0.9 million (H1 2024: USD 2.0 million), reflecting a strategic reduction in lower-margin activities. - **Operating Expenses**: USD 4.6 million (H1 2024: USD 5.9 million), primarily due to cost management and reduced UK operations. - **Operating Profit (Loss)**: USD 0.094 million (H1 2024: Loss of USD 0.255 million). - **Net Profit (Loss)**: USD 0.004 million (H1 2024: Loss of USD 0.610 million). **Strategic Focus** - The Group is prioritizing the US market, its largest addressable market, leading to increased investment in Mobio Global US. - Reduced emphasis on lower-margin activities in the UK, resulting in lower revenue and operating expenses in that region. **Outlook** - The Board is cautiously optimistic about continued revenue growth and expense control despite inflationary pressures. - Evaluating acquisition and partnership opportunities in the mobile marketing and advertising sector, including Web3 and blockchain. **Financial Position** - **Cash Balances**: USD 65,000 as of 30 November 2025. - **Total Assets**: USD 14.6 million. - **Total Equity**: USD 8.6 million. - **Total Liabilities**: USD 5.9 million, including long-term loans of USD 3.4 million. **Risks and Uncertainties** - Principal risks remain unchanged from the annual report for the year ended 31 May 2025. - Exposure to foreign currency risk, credit risk, and liquidity risk. - Monitoring geopolitical risks, including the impact of the Russia-Ukraine conflict. **Corporate Governance** - Directors: John G Booth (Chairman), Rumit Shah (Non-Executive Director), and Konstantin Khomyakov (Finance Director until 23 December 2025). - The Board confirmed the financial statements give a true and fair view of the Groups financial position. **Conclusion** Vox Valor Capital Limited is strategically refocusing on the US market, leading to revenue growth in the US but overall revenue decline. The Group is managing costs effectively and remains optimistic about future growth, while actively exploring expansion opportunities in the mobile marketing sector.
**Summary of Vox Valor Capital Limiteds Half-Year Financial Report (February 2026)**
**Overview**
Vox Valor Capital Limited (LSEVOX) released its unaudited interim financial statements for the six months ended 30 November 2025. The Group operates in mobile marketing and advertising through its subsidiaries: Mobio Global Limited (UK), Mobio Singapore Pte Ltd, and Mobio Global Inc. (US). The Group employs 30 contractors and employees across its subsidiaries.
**Financial Highlights**
**Revenue**USD 5.2 million (H1 2024: USD 6.2 million). The decline reflects a strategic shift to prioritize the US market, leading to reduced focus on lower-margin activities in the UK.
**Revenue Breakdown**
Mobio SingaporeUSD 3.2 million (H1 2024: USD 3.6 million).
Mobio Global USUSD 1.1 million (H1 2024: USD 0.6 million), showing significant growth due to increased investment.
Mobio Global UKUSD 0.9 million (H1 2024: USD 2.0 million), reflecting a strategic reduction in lower-margin activities.
**Operating Expenses**USD 4.6 million (H1 2024: USD 5.9 million), primarily due to cost management and reduced UK operations.
**Operating Profit (Loss)**USD 0.094 million (H1 2024: Loss of USD 0.255 million).
**Net Profit (Loss)**USD 0.004 million (H1 2024: Loss of USD 0.610 million).
**Strategic Focus**
The Group is prioritizing the US market, its largest addressable market, leading to increased investment in Mobio Global US.
Reduced emphasis on lower-margin activities in the UK, resulting in lower revenue and operating expenses in that region.
**Outlook**
The Board is cautiously optimistic about continued revenue growth and expense control despite inflationary pressures.
Evaluating acquisition and partnership opportunities in the mobile marketing and advertising sector, including Web3 and blockchain.
**Financial Position**
**Cash Balances**: USD 65000 as of 30 November 2025.
**Total Assets**USD 14.6 million.
**Total Equity**USD 8.6 million.
**Total Liabilities**USD 5.9 million, including long-term loans of USD 3.4 million.
**Risks and Uncertainties**
Principal risks remain unchanged from the annual report for the year ended 31 May 2025.
Exposure to foreign currency riskcredit riskand liquidity risk.
Monitoring geopolitical risks, including the impact of the Russia-Ukraine conflict.
**Corporate Governance**
DirectorsJohn G Booth (Chairman), Rumit Shah (Non-Executive Director), and Konstantin Khomyakov (Finance Director until 23 December 2025).
The Board confirmed the financial statements give a true and fair view of the Groups financial position.
**Conclusion**
Vox Valor Capital Limited is strategically refocusing on the US market, leading to revenue growth in the US but overall revenue decline. The Group is managing costs effectively and remains optimistic about future growth, while actively exploring expansion opportunities in the mobile marketing sector.
Here is the HTML table code comparing the financials and debt year on year for Vox Valor Capital Limited:
Financial MetricPeriod Ended 30 Nov 2025 (USD)Period Ended 30 Nov 2024 (USD)Change
Revenue5,170,7516,207,479(1,036,728)
Operating Expenses4,552,6935,850,502(1,297,809)
Operating Profit (Loss)94,211(254,613)348,824
Net Non-Operating Result431,9041,644430,260
Net Financial Result(449,616)(363,101)(86,515)
Profit (Loss) Before Tax76,499(616,070)692,569
Profit/(Loss) For The Period3,921(610,011)613,932
Total Comprehensive Income/(Loss)(214,106)(527,075)312,969
Cash and Cash Equivalents64,80953,23511,574
Total Debt (Long-term + Short-term)3,454,1433,247,952206,191

Debt Breakdown:

Debt Type30 Nov 2025 (USD)31 May 2025 (USD)Change
Long-term Debt3,421,3763,217,313204,063
Short-term Debt32,76730,6392,128

Notes:

  • Revenue decreased by USD 1,036,728, primarily due to a shift in focus towards the US market and reduced emphasis on lower-margin activities in the UK.
  • Operating expenses decreased by USD 1,297,809, mainly due to cost management and repositioning of the operating model.
  • Total debt increased by USD 206,191, with long-term debt increasing by USD 204,063 and short-term debt increasing by USD 2,128.
This HTML code creates two tables: 1. The first table compares key financial metrics year on year, including revenue, operating expenses, profits, and cash balances. 2. The second table breaks down the debt into long-term and short-term components, showing the changes between the two periods. The notes below the tables provide additional context for the changes in revenue, operating expenses, and debt.
06:01
80 Positive
REE
Altona Rare Earths PLC
Positive
**Summary:** Altona Rare Earths PLC, a London-listed exploration and development company focused on critical raw materials in Africa, has signed a significant grant agreement with the United States Trade and Development Agency (USTDA) for its Monte Muambe rare earths project in Mozambique. The USTDA will provide a $1.875 million grant to fund the metallurgy and process engineering components of the projects prefeasibility study. This includes drilling, metallurgical <mark style="background-color:yellow">test</mark>ing, environmental and commercial studies, engagement with potential US off-take partners, and financial modeling. The partnership strengthens US supply chain security for critical minerals while supporting Mozambiques goal of becoming a major player in the global critical minerals market. Key highlights: - **Grant Agreement**: USTDA provides $1.875 million for Monte Muambe rare earths project prefeasibility study. - **Strategic Partnership**: Collaboration with US Government advances Altonas ambition to become a major Western source of magnet rare earths. - **Project Scope**: Funding covers drilling, metallurgical testing, environmental studies, and engagement with US off-take partners. - **Critical Minerals Focus**: Rare earths are essential for defense, technology, and clean energy applications. - **Company Portfolio**: Altonas diversified strategy includes fluorspar, gallium, and copper-silver projects across Africa. This agreement marks a transformative step for Altona, aligning with US strategic priorities and positioning the company for long-term growth in the critical raw materials sector.
**Summary**
Altona Rare Earths PLC, a London-listed exploration and development company focused on critical raw materials in Africa, has signed a significant grant agreement with the United States Trade and Development Agency (USTDA) for its Monte Muambe rare earths project in Mozambique. The USTDA will provide a $1.875 million grant to fund the metallurgy and process engineering components of the projects prefeasibility study. This includes drilling, metallurgical <mark style="background-color:yellow">test</mark>ing, environmental and commercial studies, engagement with potential US off-take partners, and financial modeling. The partnership strengthens US supply chain security for critical minerals while supporting Mozambiques goal of becoming a major player in the global critical minerals market.
Key highlights
**Grant Agreement**USTDA provides $1.875 million for Monte Muambe rare earths project prefeasibility study.
**Strategic Partnership**Collaboration with US Government advances Altonas ambition to become a major Western source of magnet rare earths.
**Project Scope**Funding covers drilling, metallurgical testing, environmental studies, and engagement with US off-take partners.
**Critical Minerals Focus**Rare earths are essential for defense, technology, and clean energy applications.
**Company Portfolio**Altonas diversified strategy includes fluorspar, gallium, and copper-silver projects across Africa.
This agreement marks a transformative step for Altona, aligning with US strategic priorities and positioning the company for long-term growth in the critical raw materials sector.
Agreement
06:01
93 Strong Beat
MDZ
MediaZest plc
Positive
**MediaZest Plc Annual Financial Report Summary (FY25)** **Financial Highlights:** - **Revenue Growth:** Increased by 35% to £4.154 million (FY24: £3.074 million). - **Gross Profit:** Rose 47% to £2.346 million (FY24: £1.595 million), with a gross margin improvement to 56% (FY24: 52%). - **EBITDA:** Surged to £331,000 (FY24: £14,000). - **Profit After Tax:** Returned to profitability at £98,000 (FY24: £214,000 loss). - **Earnings per Share:** Improved to 0.0058 pence (FY24: 0.0133 pence loss). - **Cash Position:** Strengthened to £99,000 (FY24: £64,000). **Operational Highlights:** - Delivered strong performance in the last four months of FY25, with significant projects for clients like First Rate, Pets at Home, Lululemon Athletica, Arcteryx, Kia, Hyundai, and Duty Free. - Signed a major contract with First Rate for digital currency board installations across 1,200 UK locations. - Continued expansion in Europe with projects for Lululemon Athletica and Arcteryx. - Appointed Keith Edelman as new Chairman in June 2025. **Post Year-End Highlights:** - **Debt Restructuring:** Successfully restructured debt, writing off £529,000 in interest and repaying £785,609 over six years. - **Fundraising:** Raised £215,000 through equity issuance, with Dr Graham Cooley as a new significant shareholder. **Outlook:** - Strong demand across retail, automotive, and corporate sectors, with FY26 targeting revenue of £5 million and profit after tax exceeding £250,000. - Focus on long-term recurring revenue contracts and potential M&A opportunities to enhance growth. **Key Financial Metrics (FY25 vs FY24):** | **Metric** | **FY25 (£’000)** | **FY24 (£’000)** | |--------------------------|------------------|------------------| | Revenue | 4,154 | 3,074 | | Gross Profit | 2,346 | 1,595 | | EBITDA | 331 | 14 | | Profit After Tax | 98 | (214) | | Cash | 99 | 64 | **Conclusion:** MediaZest Plc demonstrated significant financial and operational improvement in FY25, returning to profitability and strengthening its balance sheet. With a robust pipeline of projects and strategic initiatives, the company is well-positioned for continued growth in FY26.
**MediaZest Plc Annual Financial Report Summary (FY25)**
**Financial Highlights**
**Revenue Growth** Increased by 35% to £4.154 million (FY24: £3.074 million).
**Gross Profit** Rose 47% to £2.346 million (FY24: £1.595 million), with a gross margin improvement to 56% (FY24: 52%).
**EBITDA:** Surged to £331000 (FY24: £14000).
**Profit After Tax** Returned to profitability at £98,000 (FY24: £214,000 loss).
**Earnings per Share** Improved to 0.0058 pence (FY24: 0.0133 pence loss).
**Cash Position** Strengthened to £99,000 (FY24: £64,000).
**Operational Highlights**
Delivered strong performance in the last four months of FY25, with significant projects for clients like First Rate, Pets at Home, Lululemon Athletica, Arcteryx, Kia, Hyundai, and Duty Free.
Signed a major contract with First Rate for digital currency board installations across 1,200 UK locations.
Continued expansion in Europe with projects for Lululemon Athletica and Arcteryx.
Appointed Keith Edelman as new Chairman in June 2025.
**Post Year-End Highlights**
**Debt Restructuring** Successfully restructured debt, writing off £529,000 in interest and repaying £785,609 over six years.
**Fundraising** Raised £215,000 through equity issuance, with Dr Graham Cooley as a new significant shareholder.
**Outlook**
Strong demand across retail, automotive, and corporate sectors, with FY26 targeting revenue of £5 million and profit after tax exceeding £250,000.
Focus on long-term recurring revenue contracts and potential M&A opportunities to enhance growth.
**Key Financial Metrics (FY25 vs FY24)**
**Metric**
**FY25 (£’000)**
**FY24 (£’000)**
Revenue
4154
3074
Gross Profit
2346
1595
EBITDA
331
14
Profit After Tax
98
(214)
Cash
99
64
**Conclusion**
MediaZest Plc demonstrated significant financial and operational improvement in FY25, returning to profitability and strengthening its balance sheet. With a robust pipeline of projects and strategic initiatives, the company is well-positioned for continued growth in FY26.
Below is the HTML table code comparing the financials and debt year on year for MediaZest Plc based on the provided text: < lang="en">MediaZest Plc Financials and Debt Comparison

MediaZest Plc Financials and Debt Comparison (FY25 vs FY24)

MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue4,1543,0741,08035%
Gross Profit2,3461,59575147%
EBITDA331143172,264%
Profit after Tax98(214)312-146%
Cash99643555%
Debt Principal (Post Restructuring)785.61,283(497.4)-39%
Interest Written Off529-529N/A
### Explanation: 1. **Revenue**: Increased by £1,080,000 (35%) from FY24 to FY25. 2. **Gross Profit**: Increased by £751,000 (47%) from FY24 to FY25. 3. **EBITDA**: Increased significantly by £317,000 (2,264%) from FY24 to FY25. 4. **Profit after Tax**: Improved by £312,000, turning from a loss of £214,000 in FY24 to a profit of £98,000 in FY25. 5. **Cash**: Increased by £35,000 (55%) from FY24 to FY25. 6. **Debt Principal**: Reduced by £497,400 (39%) post-restructuring in FY25 compared to FY24. 7. **Interest Written Off**: £529,000 was written off in FY25 as part of the debt restructuring. This table provides a clear comparison of key financial metrics and debt restructuring details between FY25 and FY24.
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SNWS
SNWS Smiths News PLC
14:01
Market

Block listing Interim Review

PRV
PRV Porvair plc
14:01
Market

Total Voting Rights

GMET
GMET Guardian Metal Resources PLC
14:01
Market

Total Voting Rights

HSBA
HSBA HSBC Holdings PLC
14:01
Market

Total Voting Rights

SRE
SRE Sirius Real Estate Limited
14:01
Market

Total Voting Rights

IDOX
IDOX IDOX plc
14:01
Market

Form 8.3

IPF
IPF International Personal Fina…
14:01
Market

Form 8.3

SGE
SGE Sage Group PLC
14:01
Market

Total Voting Rights

0UKH
0UKH Bank of Montreal
13:49
Market

Form 8.3 - Augmentum Fintech PLC

NCC
NCC NCC Group plc
13:45
Market

Form 8.3

VCT
VCT Victrex plc
13:41
Market

Total Voting Rights

AAIF
AAIF abrdn Asian Income Fund Lim…
13:40
Market

Loan Renewal

RAT
RAT Rathbone Brothers PLC
13:38
Market

Form 8.3 - LondonMetric Property Plc

CRST
CRST Crest Nicholson Holdings plc
13:38
Market

Total Voting Rights

SEC
SEC Strategic Equity Capital Cl…
13:36
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['1607 Capital Partners, LLC', '2.775756', '9.634830']
SEC
SEC Strategic Equity Capital Cl…
13:35
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Gresham House Asset Management Ltd', '17.23', '16.07']
BEZ
BEZ Beazley plc
13:31
Market

Form 8.3

IAG
IAG International Consolidated …
13:28
Market

Launch of €500 million Share Buyback Programme

**Summary:** International Consolidated Airlines Group (IAG) announced the launch of a €500 million share buyback programme on February 27, 2026, aimed at reducing the companys share capital, pending shareholder approval. The programme, a…

**Summary**
International Consolidated Airlines Group (IAG) announced the launch of a €500 million share buyback programme on February 27, 2026, aimed at reducing the companys share capital, pending shareholder approval. The programme, authorized by the 2025 Annual General Meeting, will be executed by Morgan Stanley Europe SE and Goldman Sachs Bank Europe SE, starting on March 2, 2026, and is expected to conclude by May 29, 2026.
Key details include
**Total Value** €500 million, with €374 million allocated for market purchases and €126 million for purchases from Qatar Airways.
**Qatar Airways Participation** Qatar Airways will maintain its 25.1434% stake in IAG by selling shares proportionally to the banks, rather than directly in the market.
**Scope** Up to 310,717,331 ordinary shares (6.57% of issued share capital) will be purchased on the London and Spanish Stock Exchanges.
**Price Limits** Shares will be bought at a price no higher than the lower of (i) the higher of the last independent trade or highest current bid, and (ii) 105% of the 5-day average market value.
**Daily Volume Cap** Purchases will not exceed 25% of the average daily trading volume over the preceding 20 days.
**Post-Purchase** Acquired shares will be held in treasury, with potential cancellation subject to shareholder approval at the next Annual General Meeting.
The programme complies with EU Market Abuse Regulation and related delegated regulations, ensuring transparency and fairness in execution.
Launch
CBA
CBA Ceiba Investments
13:27
Market

Directorate change

GHH
GHH Gooch & Housego Plc
13:24
Market

Result of AGM

PULS
PULS Pulsar Group plc
13:14
Market

Directors' Dealings

BLND
BLND British Land Company PLC
13:13
Market

Total Voting Rights

AMGO
AMGO Amigo Holdings PLC
13:04
Market

Access to the Annual General Meeting

ROAD
ROAD Roadside Real Estate plc
13:01
Market

Notice of AGM

POLN
POLN Pollen Street PLC
12:58
Market

Director/PDMR Shareholding

TRIG
TRIG Renewables Infrastructure G…
12:51
Market

Director/PDMR Shareholding

IPF
IPF International Personal Fina…
12:48
Market

Form 8.3

HLCL
HLCL Helical Bar Plc
12:46
Market

Helical and PfL JV forward funds Southwark PBSA

**Summary:** Helical PLC and Places for London (Transport for Londons property company) have entered into a joint venture (JV) to forward fund and sell a purpose-built student accommodation (PBSA) project in Southwark, London, valued at o…

**Summary**
Helical PLC and Places for London (Transport for Londons property company) have entered into a joint venture (JV) to forward fund and sell a purpose-built student accommodation (PBSA) project in Southwark, London, valued at over £200 million upon completion. The scheme includes 429 high-quality student studios, new retail space, and public realm enhancements, designed by AHMM. It also supports the delivery of 44 affordable homes and community facilities, which have been forward sold to the London Borough of Southwark.
The transaction exemplifies Helicals "equity light" strategy, targeting a return on equity of over 3.0x. Construction is set to begin in 2026, with completion by 2029, in time for the 2029/30 academic year. The JV will receive an initial payment of £35.2 million (Helicals share: £18.0 million) upon Gateway 2 approval, expected in the second half of 2026, returning all committed equity and including an interim profit of £20 million (Helicals share: £10.2 million). No further equity is anticipated, with remaining profits payable upon completion.
Places for London will own the PBSA building, generating sustainable long-term income for reinvestment into Londons transport network. The project is one of three sites being developed by the JV, with additional central London projects in the pipeline, potentially including more student accommodation using a similar equity light structure.
Key executives from both companies highlighted the transactions strategic importance, emphasizing the delivery of high-quality student housing, affordable homes, and its contribution to Londons growth and transport funding.
JV
SOLG
SOLG SolGold PLC
12:45
Market

Form 8.3

KITW
KITW Kitwave Group PLC
12:43
Market

Form 8.3

RAT
RAT Rathbone Brothers PLC
12:39
Market

Form 8.3 - Life Science REIT Plc

RAT
RAT Rathbone Brothers PLC
12:37
Market

Form 8.3 - British Land Co plc

EVST
EVST Everest Global PLC
12:31
Market

Final Results

**Summary of Everest Global PLCs Final Results for the Year Ended 31 October 2025** **Financial Performance:** - **Revenue Growth:** Revenue increased to £566,755 in 2025 from £437,768 in 2024, driven by the full contribution of a new ret…

**Summary of Everest Global PLCs Final Results for the Year Ended 31 October 2025**
**Financial Performance**
**Revenue Growth** Revenue increased to £566,755 in 2025 from £437,768 in 2024, driven by the full contribution of a new retail store opened in January 2025.
**Loss Before Tax** The company reported a loss before tax of £1,105,279 in 2025, compared to a loss of £629,780 in 2024. The first half of 2025 showed strong performance, with a return to profitability before one-off items of £75,617.
**Gross Profit Margins** Margins improved due to better supplier terms and a favorable product mix.
**Administrative Expenses** Managed prudently, with a focus on operational discipline and future growth investment.
**Capital Management**
**Convertible Loan Notes (CLNs)** The outstanding balance of CLNs decreased to £2,537,520 in 2025 from £3,570,119 in 2024. In August 2025, £1,500,000 of CLNs were repaid to Surich Real Estate Opportunity Fund SPC (SPC). In November 2025, SPC subscribed for £1,500,000 in new CLNs to support working capital, capital expenditure, and potential acquisitions.
**Capital Re-Organisation** Shareholders approved a capital re-organisation in November 2025, involving the sub-division and re-classification of existing ordinary shares into new ordinary shares. The re-organisation resulted in 1 new ordinary share for every 200 existing shares, reducing the total number of shares from 77,388,855 to 386,945.
**Strategic Initiatives**
**Acquisition Strategy** Focus on expanding through acquisitions, investments, and joint ventures in the food and beverage industry, particularly in beverage distribution and production in the UK and Europe.
**Organic Growth** Scaling existing operations, including increasing stores and product lines for Precious Link (UK) Limited.
**Geographic Expansion** Plans to expand further in London and Southeast England.
**Category Extension** Introduction of premium tobacco, spirits, specialty beverages, and complementary product lines.
**Outlook**
**Growth Focus** Continued emphasis on acquisitions, investments, and joint ventures in the food and beverage sector.
**Capital Structure Management** Active management of the capital structure, including simplifying the CLN position and completing the capital re-organisation.
**Funding Requirements** Additional capital will be needed to invest in strategic opportunities.
**Corporate Governance and Compliance**
**Stakeholder Engagement** Commitment to engaging with customers, suppliers, shareholders, lenders, and staff to ensure alignment with strategic goals.
**Regulatory Compliance** Adherence to national and international laws and regulations, including human rights and social interaction standards.
**Key Performance Indicators (KPIs)**
**Turnover:** Increased to £566755 in 2025 from £437768 in 2024.
**Gross Profit:** Rose to £171362 in 2025 from £108054 in 2024.
**Cash on Hand:** Increased to £1063463 in 2025 from £279725 in 2024.
**Underlying Operating Loss** Improved to £1,085,087 in 2025 from £669,607 in 2024.
**Risks and Uncertainties**
**Financial Risks** Credit risk, liquidity risk, and foreign currency risk are actively managed.
**Operational Risks** Supply chain disruptions, regulatory compliance, and maintaining product quality are key concerns.
**Strategic Risks** Identifying suitable acquisition targets and adapting to changing consumer preferences are critical challenges.
**Conclusion**
Everest Global PLC demonstrated resilience and strategic focus in 2025, despite financial losses. The companys efforts in capital management, strategic acquisitions, and operational efficiency position it for future growth in the competitive food and beverage industry. The Board remains committed to delivering long-term value to shareholders through disciplined capital allocation and strategic expansion.
Here is the HTML table code comparing the financials and debt year on year for Everest Global PLC:
Financial MetricYear Ended 31 Oct 2025Year Ended 31 Oct 2024Change
Revenue£566,755£437,76829.4%
Gross Profit£171,362£108,05458.6%
Operating Loss(£1,085,087)(£669,607)-62.1%
Loss Before Tax(£1,105,279)(£629,780)-75.5%
Cash and Cash Equivalents£1,063,463£279,725280.2%
Convertible Loan Notes (CLNs)£2,537,520£3,570,119-28.9%
Total Debt (incl. CLNs)£2,732,712£3,635,775-24.9%

Notes:

  • Revenue and gross profit increased significantly year-on-year, driven by the full contribution of the new retail store opened in January 2025.
  • Operating loss and loss before tax worsened due to a £379,127 impairment of goodwill related to the acquisition of Precious Link (UK) Limited.
  • Cash and cash equivalents increased substantially due to financing activities, including the issuance of new CLNs and repayment of existing ones.
  • CLNs and total debt decreased as the company repaid £1,500,000 of CLNs in August 2025 and issued new CLNs post-year end.
This table provides a clear comparison of key financial metrics and debt levels between the two years, highlighting the significant changes and their drivers.
ONT
ONT Oxford Nanopore Technologie…
12:31
Market

Director Declaration - John O'Higgins

SOLG
SOLG SolGold PLC
12:29
Market

Form 8.3

JUST
JUST Just Group plc
12:28
Market

Form 8.3

JTC
JTC JTC PLC
12:25
Market

Form 8.3

CAN
CAN Groupe Canal Plus
12:23
Market

Director Declaration

IPF
IPF International Personal Fina…
12:22
Market

Form 8.3

0RLW
0RLW Commerzbank AG
12:19
Market

Post Stabilisation Notice

VCT
VCT Victrex plc
12:03
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Norges Bank', '9.092940', '8.994780']
GFTU
GFTU Grafton Group plc
12:01
Market

Total Voting Rights

LAND
LAND Land Securities Group PLC
11:59
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['BlackRock, Inc.', '6.150000', '6.950000']
BRAI
BRAI BlackRock American Income T…
11:58
Market

Update from QuotedData

BARC
BARC Barclays PLC
11:57
Market

Form 8.3 SOLGOLD PLC

BARC
BARC Barclays PLC
11:56
Market

Form 8.3 NCC GROUP PLC

BARC
BARC Barclays PLC
11:56
Market

Form 8.3 JUST GROUP PLC

BARC
BARC Barclays PLC
11:55
Market

Form 8.3 JTC PLC

BARC
BARC Barclays PLC
11:55
Market

Form 8.3 KITWAVE GROUP PLC

GNS
GNS Genus PLC
11:49
Market

Director/PDMR Shareholding

Table A - Private Share <mark style="background-color:yellow">Purchase</mark>

Table A - Private Share <mark style="background-color:yellow">Purchase</mark>
CYN
CYN CQS Natural Resources Growt…
11:34
Market

Director/PDMR Shareholding

INF
INF Informa PLC
11:33
Market

Directorate change

CPAI
CPAI Dukemount Capital Plc
11:29
Market

Total Voting Rights

TRST
TRST Trustpilot Group PLC
11:28
Market

Total Voting Rights

COIN
COIN Coinsillium
11:26
Market

Total Voting Rights

HHV
HHV Hargreave Hale Aim Vct PLC
11:17
Market

Issue of Equity

CTUK
CTUK CT UK Capital And Income In…
11:13
Market

Director Declaration

SWR
SWR Smurfit Westrock Plc
11:10
Market

Form 8-K

DELT
DELT Deltic Energy PLC
11:01
Market

Update re Acquisition

CWR
CWR Ceres Power Holdings PLC
11:01
Market

Total Voting Rights

EJFI
EJFI EJF Investments Ltd
11:00
Market

Quarterly Report

NXQ
NXQ Nexteq PLC
11:00
Market

Notification of major holdings

TR1 Buy

TR1 Buy
['Liontrust Investment Partners LLP', '11.830000', '12.794200']
SWR
SWR Smurfit Westrock Plc
10:58
Market

Form 10-K

BRK
BRK Brooks Macdonald Group
10:54
Market

Form 8.3 - LondonMetric Property plc

XGDU
XGDU Xtrackers IE Physical Gold …
10:53
Market

Final Terms

MAB
MAB Mitchells & Butlers PLC
10:51
Market

Total Voting Rights

CCEP
CCEP Coca-Cola Europacific Partn…
10:46
Market

Director/PDMR Shareholding

SOI
SOI Schroder Oriental Income Fu…
10:30
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Raymond James Wealth Management Limited', '5.000000', '5.010000']
SWEF
SWEF Starwood European Real Esta…
10:26
Market

SWEF: Results of EGM & Appointment of Joint Liquidators

<mark style="background-color:yellow"></mark>

<mark style="background-coloryellow"></mark>
HKLD
HKLD HONGKONG LAND HLDGS
10:25
Market

Total Voting Rights

BEZ
BEZ Beazley plc
10:19
Market

Form 8.3

BSRT
BSRT Baker Steel Resources Trust
10:18
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['First Equity Limited', '4.994624', '8.171891']
HRI
HRI Herald Investment Trust
10:16
Market

Director Declaration

GLDA
GLDA Amundi Physical Gold ETC C
10:09
Market

Amundi Physical Metals plc: UK Final Terms

GLDA
GLDA Amundi Physical Gold ETC C
10:07
Market

Amundi Physical Metals plc: Final Terms

DOCS
DOCS Dr. Martens PLC
10:05
Market

Total Voting Rights

STAN
STAN Standard Chartered PLC
10:03
Market

Publication of Final Terms

NVT
NVT Northern Venture Trust
10:01
Market

Total Voting Rights

NTV
NTV Northern 2 Vct Plc
10:01
Market

Total Voting Rights

NTN
NTN Northern 3 Vct Plc
10:01
Market

Total Voting Rights

RR.
RR. RR.
10:01
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of shares

<mark style="background-coloryellow">Purchase</mark> of shares
SMWH
SMWH WH Smith PLC
10:01
Market

Total Voting Rights

INCH
INCH Inchcape PLC
09:58
Market

Total Voting Rights

IGET
IGET Invesco Perpetual Select Tr…
09:57
Market

Results of the Scheme and Issue of New Shares

BLND
BLND British Land Company PLC
09:56
Market

Form 8.3

BYG
BYG Big Yellow Group PLC
09:54
Market

Total Voting Rights

XPF
XPF XP Factory PLC
09:52
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Mr Caspar MacDonald-Hall', '5.8', '4.4']
MWY
MWY Mid Wynd International Inve…
09:52
Market

Result of General Meeting

WOSG
WOSG Watches Of Switzerland Grou…
09:45
Market

Director/PDMR Shareholding

PRU
PRU Prudential plc
09:43
Market

Total Voting Rights

WCW
WCW Walker Crips Group PLC
09:42
Market

Court Sanction of Scheme of Arrangement

PMP
PMP Portmeirion Group PLC
09:38
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Peter Gyllenhammar AB', '12.324000', '11.290000']
OTB
OTB On The Beach Group PLC
09:37
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Schroders Plc', '10.953266', '11.056782']
CNE
CNE Capricorn Energy PLC
09:31
Market

Total Voting Rights

ELIX
ELIX Elixirr International Plc
09:27
Market

Director/PDMR Shareholding

ICON
ICON Iconic Labs Plc
09:24
Market

Total Voting Rights

JAR
JAR Jardine Matheson Holdings L…
09:16
Market

Total Voting Rights

ASIA
ASIA SPDR® Citi Asia Local Gover…
09:15
Market

Lifting of Suspension

JAR
JAR Jardine Matheson Holdings L…
09:13
Market

JC&C - 2025 FY Results and Dividend

Jardine Cycle & Carriage Limited (JC&C) reported its financial results for the year ended December 31, 2025, highlighting stable performance and strategic progress across its portfolio. Here’s a summary of the key points: ### **Financial …

Jardine Cycle & Carriage Limited (JC&C) reported its financial results for the year ended December 31, 2025, highlighting stable performance and strategic progress across its portfolio. Here’s a summary of the key points
### **Financial Highlights**
**Underlying Profit** US$1.110 billion, up 1% from 2024, driven by improvements in Vietnam and Singapore, offsetting challenges in Indonesia.
**Revenue** US$21.358 billion, down 4% from 2024, primarily due to lower contributions from Indonesia.
**Proposed Dividend** US¢85 per share (final), totaling US¢113 for the year, a 1% increase from 2024.
### **Regional Performance**
1. **Indonesia**
Contribution to underlying profitUS$945 million, down 8% due to lower contributions from Astra, particularly in mining services, coal mining, and new car sales.
Astra’s strategic initiatives include partnerships in the used car sector (ADMO with Toyota), acquisition of industrial and logistics properties (MMP), and increased stakes in healthcare platforms (Halodoc and Hermina).
United Tractors expanded into gold mining with the acquisition of Arafura Surya Alam.
2. **Vietnam**
Contribution to underlying profitUS$129 million, up 25%, led by strong performances from THACO (real estate) and REE (power generation).
JC&C increased its stake in REE to 41.7%.
3. **Singapore**
Cycle & Carriage reported a 49% increase in contribution to US$48 million, driven by strong commercial vehicle sales and used car business.
### **Strategic Developments**
**Divestments** Sold 4.6% and 3.5% stakes in Vinamilk for US$228 million and US$188 million, respectively, to focus on core portfolio.
**Debt Reduction** Reduced corporate net debt from US$816 million to US$577 million.
**Share Buybacks** Astra and United Tractors completed Rp2 trillion share buyback programs, reflecting confidence in future prospects.
### **Outlook**
**Indonesia** Operating environment remains challenging, but consumer sentiment may see moderate recovery.
**Vietnam** Expected to continue growing, supported by THACO and REE.
**Singapore** Anticipated to deliver resilient earnings.
### **Corporate Governance**
Samuel Tsien assumed the role of JC&C’s first independent chairman.
Ben Birks and Jeffery Tan stepped down as Group Managing Director and Company Secretary, respectively.
### **Conclusion**
JC&C demonstrated resilience in 2025, navigating regional challenges while advancing its strategic objectives. The company remains focused on sustainable value creation and delivering strong shareholder returns, supported by a diversified portfolio and disciplined capital management.
Here is the HTML table code comparing the financials and debt year on year for Jardine Cycle & Carriage Limited:
Metric2025 (US$m)2024 (US$m)Change (%)
Revenue21,35822,298-4%
Underlying Profit1,1101,1021%
Profit Attributable to Shareholders9989465%
Net Debt (excl. Astra's financial services)44235-81%
Net Debt (Astra's financial services)3,9003,7005%
Corporate Net Debt577816-29%

Key Observations:

  • Revenue decreased by 4% year-on-year, primarily due to lower contributions from Indonesia.
  • Underlying profit increased slightly by 1%, driven by improvements in Vietnam and Singapore, as well as foreign exchange gains and lower financing costs.
  • Net debt (excluding Astra's financial services) decreased significantly by 81%, mainly due to proceeds from the partial disposal of Vinamilk.
  • Corporate net debt decreased by 29%, reflecting the Group's focus on reducing debt and building financial flexibility.
**Note:** The above table and observations are based on the provided text. The actual financial statements and notes should be referred to for a comprehensive understanding of the company's financial performance and position.
ATN
ATN Eastinco Mining & Explorati…
09:11
Market

Total Voting Rights

KEN
KEN Kendrick Resources PLC
09:05
Market

Total Voting Rights

HKLD
HKLD HONGKONG LAND HLDGS
09:01
Market

Transaction in Own Shares

SDP
SDP Schroder Asia Pacific Fund
09:01
Market

Transaction in Own Shares

HKLD
HKLD HONGKONG LAND HLDGS
09:00
Market

Transaction in Own Shares

OTES
OTES HELLENIC TELECOMMUNICATIONS…
08:48
Market

Commencement of 2026 Share Buyback Programme

AAEV
AAEV Albion Enterprise VCT PLC
08:48
Market

Director/PDMR Shareholding

JAR
JAR Jardine Matheson Holdings L…
08:47
Market

PT Astra - 2025 Full Year Financial Statements

AAEV
AAEV Albion Enterprise VCT PLC
08:46
Market

Issue of Equity and Total Voting Rights

NIOX
NIOX NIOX Group PLC
08:42
Market

Total Voting Rights

KETL
KETL Strix Group Plc
08:37
Market

Transaction in Own Shares

NEXS
NEXS Nexus Infrastructure plc
08:35
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Otus Capital Management L.P.', '3.81', '9.979']
BREE
BREE Breedon Group PLC
08:34
Market

Total Voting Rights

TFIF
TFIF TwentyFour Income Fund Ltd
08:32
Market

Issue of Equity

WG.
WG. WG.
08:32
Market

Form 8.3

0H7D
0H7D Deutsche Bank AG NA O.N.
08:31
Market

Form 8.5 (EPT/RI) IQE Plc

JTC
JTC JTC PLC
08:30
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['JPMorgan Chase & Co.', '1.835373', '1.058359']
WIZZ
WIZZ Wizz Air Holdings PLC
08:19
Market

Holding(s) in Company

<mark style="background-color:yellow">TR1</mark> Buy

<mark style="background-coloryellow">TR1</mark> Buy
['Barclays PLC', 'Below notifiable threshold', '0.170000']
IQE
IQE IQE PLC
08:15
Market

Form 8.3

MICC
MICC The Magnum Ice Cream Compan…
08:08
Market

Director/PDMR Shareholding

MPAL
MPAL MEDPAL AI PLC ORD 0.02P
08:01
Market

Total Voting Rights

UPL
UPL Upland Resources Ltd
08:01
Market

TR1

GLEN
GLEN Glencore PLC
08:01
Market

TR-1:Notification of major holdings

TR1 Buy

TR1 Buy
['The Capital Group Companies, Inc.', '5.001105', '4.930938']
BILN
BILN Billington Holdings PLC
07:51
Market

Grant of SAYE Options and PDMR Dealings

SDR
SDR Schroders PLC
07:47
Market

Form 8.3

POLR
POLR Polar Capital Holdings plc
07:21
Market

Transaction in Own Shares

HEMO
HEMO Hemogenyx Pharmaceuticals P…
07:11
Market

Total Voting Rights

EPP
EPP EnergyPathways plc
07:01
Market

Total Voting Rights

WNX
WNX Wellnex Life Limited
06:31
Market

Half Yearly Report and Accounts

**Summary of Wellnex Life Limiteds Half-Year Report (H1 FY26)** **Key Highlights:** - **Revenue Growth:** Revenue increased by 8% to $12.9 million in H1 FY26 compared to the same period in FY25. - **Gross Margin Improvement:** Gross…

**Summary of Wellnex Life Limiteds Half-Year Report (H1 FY26)**
**Key Highlights**
**Revenue Growth** Revenue increased by 8% to $12.9 million in H1 FY26 compared to the same period in FY25.
**Gross Margin Improvement** Gross margin rose significantly by 9.4 percentage points to 32.1%, driven by cost control and operational efficiency.
**Operating Breakeven** The company achieved operating breakeven in Q2 FY26, marking a turnaround in financial performance.
**Strategic Turnaround** Wellnex Life implemented a strategic turnaround focused on a leaner, more efficient operation, enhanced management processes, and tighter capital management.
**Funding Review** Post-period, the company is exploring funding options, including settling related party loans.
**Financial Performance**
**Revenue** $12.919 million, up 8% from H1 FY25, with brand sales contributing 72.3% and IP licensing the remainder.
**Loss Reduction** Loss from ordinary activities after tax decreased by 76.2% to $(1.793) million.
**Net Tangible Assets** Decreased slightly to $(13.06) cents per ordinary security from $(12.51) cents in the previous period.
**Operational Updates**
**Pain Away** Maintained market position with $7.0 million in sales, improved gross margin by 7.9%, and gained market share in heat patches and roll-ons.
**Wakey Wakey/Nighty Night** Consolidated underperforming SKUs, ceasing investments in these areas.
**Wagner Health Liquigesic** Launched Australias first TGA-approved soft gel liquid paracetamol, expanding product offerings and strengthening brand recognition.
**Mr Bright** Discontinued natural teeth whitening brand, planning to divest its intellectual property.
**Corporate Governance**
**Board Restructure** Reduced the number of directors from 7 to 3, with Ash Vesali appointed as Executive Chairman.
**Management Changes** Accepted resignations of Joint Chief Executive Officers, with Vesali overseeing both the Board and management during the transition.
**Going Concern**
Despite losses and net operating cash outflows, the company believes it can continue as a going concern, supported by
Stabilizing turnaround trajectory and increasing gross margins.
Potential asset monetization opportunities.
Targeted cost reduction program aiming for $1 million in annualized savings.
Ability to raise additional capital and access debt facilities.
**Conclusion**
Wellnex Life Limited demonstrated significant progress in H1 FY26, achieving revenue growth, gross margin improvement, and operating breakeven. The company remains focused on consistent performance and long-term shareholder value creation, while addressing financial challenges through strategic initiatives and funding exploration.
Here is the HTML table code comparing the financials and debt year on year for Wellnex Life Limited: tr>
Financial MetricH1 FY26 (Dec 2025)H1 FY25 (Dec 2024)Change
Revenue$12.9 million$11.962 million8% increase
Gross Margin32.1%22.7%9.4 percentage points increase
Loss from ordinary activities after tax($1.793 million)($7.526 million)76.2% decrease in loss
Net Tangible Assets per ordinary security (cents)(13.06)(12.51)Minor decrease
Total Current Liabilities - Borrowings$5.215 million$5.708 million8.6% decrease
Total Non-Current Liabilities - Borrowings$4.819 million$0 millionNew borrowing
Related Party Loans$2.969 million$2.856 million4% increase
**Key Observations:** - Revenue increased by 8% year on year, driven by brand sales. - Gross margin improved significantly by 9.4 percentage points due to cost control and operational efficiency. - Loss from ordinary activities after tax decreased by 76.2%, indicating improved financial performance. - Borrowings decreased slightly for current liabilities but increased significantly for non-current liabilities due to new loans. - Related party loans increased marginally. This table provides a concise comparison of key financial metrics and debt levels between the two half-year periods.
RSG
RSG Resolute Mining Limited
06:27
Market

Appendix 4E Preliminary Final Report

BARC
BARC Barclays PLC
06:16
Market

Transaction in Own Shares

0A3D
0A3D iShares VII Public Limited …
06:11
Market

Net Asset Value(s)

CMB1
CMB1 iShares FTSE MIB UCITS
06:11
Market

Net Asset Value(s)

BBY
BBY Balfour Beatty plc
06:11
Market

Transaction in Own Shares

RMV
RMV Rightmove PLC
06:06
Market

Announcement of Non-Discretionary Share Buyback Programme

**Summary:** Rightmove plc, the UKs leading property website, announced a non-discretionary share buyback programme on February 27, 2026. The programme, set to run from March 2 to July 31, 2026, authorizes the purchase of ordinary shares …

**Summary**
Rightmove plc, the UKs leading property website, announced a non-discretionary share buyback programme on February 27, 2026. The programme, set to run from March 2 to July 31, 2026, authorizes the purchase of ordinary shares for cancellation, with a maximum aggregate purchase price of £90 million. The buyback will be executed within pre-set parameters, adhering to the companys general authority, EU and UK Market Abuse Regulations, and Listing Rules. UBS AG London Branch has been appointed to manage the programme independently, following irrevocable instructions from Rightmove. The company confirmed it holds no unpublished price-sensitive information at the time of the announcement.
**Key Points**
**Programme Type** Non-discretionary share buyback.
**Duration:** March 22026 – July 312026.
**Maximum Spend** £90 million.
**Manager** UBS AG London Branch.
**Purpose** Purchase and cancellation of ordinary shares.
**Compliance** Adheres to EU/UK regulations and Listing Rules.
BuyBack
FLTR
FLTR Flutter Entertainment PLC
06:06
Market

Publication of Annual Report and Accounts 2025

IEM
IEM Impax Environmental Markets…
06:02
Market

Open Letter to Boaz Weinstein, Saba Capital

TRIG
TRIG Renewables Infrastructure G…
06:01
Market

Transaction in Own Shares

EKF
EKF EKF Diagnostics Holdings Plc
06:01
Market

Share Buyback

MIG3
MIG3 Maven Income And Growth Vct…
06:01
Market

Unaudited NAV and Dividend Declaration

JMAT
JMAT Johnson Matthey PLC
06:01
Market

Director Declaration

BSFA
BSFA BSF Enterprise Plc
06:01
Market

Update on Proposed Equity Fundraise

SCT
SCT Softcat plc
06:01
Market

Notice of Results

NEXS
NEXS Nexus Infrastructure plc
06:01
Market

2025 Annual Report and Notice of AGM

SOI
SOI Schroder Oriental Income Fu…
06:01
Market

Block listing Interim Review

NAS
NAS North Atlantic Smaller Comp…
06:01
Market

Notice of Investor Presentation

SLP
SLP Sylvania Platinum Limited
06:01
Market

Updated interim dividends payment date

ZEN
ZEN Zenith Energy Ltd
06:01
Market

Grant of Stock Options

PSON
PSON Pearson PLC
06:01
Market

Pearson 2025 Preliminary Results

**Summary of Pearson 2025 Preliminary Results** **Financial Highlights and Performance** - **Revenue and Profit Growth**: Pearson reported a 4% underlying sales growth to £3,577 million in 2025, with adjusted operating profit rising 6% …

**Summary of Pearson 2025 Preliminary Results**
**Financial Highlights and Performance**
**Revenue and Profit Growth**Pearson reported a 4% underlying sales growth to £3,577 million in 2025, with adjusted operating profit rising 6% to £614 million. Adjusted earnings per share increased by 4% to 64.5p.
**Cash Flow**Free cash flow grew by 8% to £527 million, with a strong cash conversion rate of 125%. Operating cash flow remained robust at £571 million.
**Dividends and Share Buybacks**A 5% increase in the full-year dividend to 25.2p per share was announced. A £350 million share buyback program is underway, reducing the share count by 5%.
**Strategic Progress**
**AI Integration**Significant advancements in scaling AI across products and services, improving learner outcomes and educator efficiency. AI is now a foundational capability within Pearson.
**Enterprise Strategy**Secured eight partnerships with industry leaders, including a strategic alliance with Salesforce, to expand into enterprise learning and skills development.
**Acquisitions**Acquired eDynamic Learning, a leading provider of digital Career and Technical Education, for £168 million, enhancing capabilities in early careers and workforce readiness.
**Segment Performance**
**Assessment & Qualifications**4% sales growth, driven by new contracts and digital expansion.
**Virtual Learning**8% sales growth, with strong enrolment increases and AI-driven enhancements.
**Higher Education**2% sales growth, supported by AI tools and Inclusive Access offerings.
**English Language Learning**1% sales growth, with PTE Express and institutional expansions.
**Enterprise Learning & Skills**6% sales growth, led by vocational qualifications and enterprise solutions.
**Outlook for 2026**
**Sales Growth**Mid-single digit underlying sales growth expected.
**Profit Guidance**Adjusted operating profit projected at £640–£685 million, with free cash flow conversion of 90–100%.
**Focus Areas**Continued AI integration, enterprise expansion, and core business strengthening.
**Leadership and Governance**
**Executive Change**: Sally JohnsonGroup CFOwill leave in 2026. Simon Robsoncurrently CFO at Skywill succeed herensuring a smooth transition.
**Conclusion**
Pearson demonstrated strong financial and strategic performance in 2025, driven by AI innovation, enterprise partnerships, and operational efficiency. The company is well-positioned for continued growth in 2026, with a focus on leveraging AI to meet the evolving needs of learners and enterprises.
Here is the HTML table code comparing Pearson's financials and debt year on year:
Metric2025 (£m)2024 (£m)Change
Sales3,5773,552+1% (headline), +4% (underlying)
Adjusted Operating Profit614600+2% (headline), +6% (underlying)
Operating Cash Flow571662-14%
Free Cash Flow527490+8%
Net Debt1,069853+25%
Net Debt / Adjusted EBITDA1.3x1.1xN/A
Adjusted Earnings per Share (pence)64.562.1+4%
Dividend per Share (pence)25.224.0+5%

Key Observations:

  • Sales grew by 1% on a headline basis and 4% on an underlying basis, driven by growth in Assessment & Qualifications, Virtual Learning, and Enterprise Learning & Skills.
  • Adjusted operating profit increased by 2% on a headline basis and 6% on an underlying basis, with margin expansion from 16.9% to 17.2%.
  • Operating cash flow decreased by 14% due to an increase in working capital, while free cash flow increased by 8%.
  • Net debt increased by 25% primarily due to the share buyback program, acquisitions, and dividend payments.
  • Adjusted earnings per share grew by 4%, and the dividend per share increased by 5%.
This table provides a clear comparison of Pearson's key financial metrics and debt position between 2025 and 2024, highlighting both headline and underlying growth rates where applicable.
RAT
RAT Rathbone Brothers PLC
06:01
Market

Rathbones FY2025 Preliminary Results

**Summary of Rathbones Group PLCs FY2025 Preliminary Results** **Financial Highlights:** - **Profit Before Tax (PBT):** Increased by 53.5% to £152.9 million, driven by synergy delivery and reduced integration costs. - **Underlying PBT:** …

**Summary of Rathbones Group PLCs FY2025 Preliminary Results**
**Financial Highlights**
**Profit Before Tax (PBT)** Increased by 53.5% to £152.9 million, driven by synergy delivery and reduced integration costs.
**Underlying PBT** Rose 4.6% to £238.1 million, supported by £76 million in annualized synergy benefits, exceeding the £60 million target.
**Funds Under Management and Administration (FUMA):** Grew 5.9% to £115.6 billion, despite market volatility in the first half.
**Operating Income** Increased 3.1% to £923.3 million, with net interest income rising to £86.7 million due to IW&I client migration.
**Dividend** Total dividend for the year increased 6.5% to 99.0p per share, reflecting confidence in long-term growth.
**Strategic Progress**
**Integration of Investec Wealth & Investment (IW&I):** Successfully completed, with synergy delivery ahead of schedule and integration costs reduced to £39.9 million.
**Share Buyback** Completed a £50 million buyback in February 2026, with an additional £20 million extension announced.
**Operational Efficiency** Progressed towards a 30% underlying operating margin target by Q4 2026, reaching 25.8% in 2025.
**Strategic Priorities**
1. **Client-Centric Focus** Aiming to be the first choice for clients by enhancing investment capabilities, financial planning, and service experience.
2. **Talent Development** Focused on attracting and retaining top talent through a great culture, motivating incentives, and AI-powered tools.
3. **Operational Excellence** Simplifying operations, leveraging data, and consolidating platforms to improve efficiency and scalability.
4. **Brand Reputation** Building a distinctive, trusted brand through leadership, purpose, and effective communication.
**Leadership and Governance**
**CEO Transition** Jonathan Sorrell appointed as Group CEO, bringing fresh perspective and deep experience.
**Board Succession** Planned changes include a new Senior Independent Director and the departure of Sarah Gentleman.
**Outlook**
**Market Position** Competing from a position of strength in a growing market, with significant opportunities ahead.
**Financial Targets** On track to achieve 30% underlying operating margin by Q4 2026, assuming 3% FUMA growth and stable economic conditions.
**Conclusion**
Rathbones Group PLC demonstrated strong financial performance in FY2025, driven by successful integration, synergy realization, and strategic initiatives. The company is well-positioned for future growth, with a clear vision to become the best wealth manager in the UK, supported by a refreshed leadership team and a focus on client, talent, operational, and brand excellence.
Here is a comparison of the financials and debt year on year for Rathbones Group PLC, presented as an HTML table:
Metric20242025Change
Operating Income (£m)895.9923.3+3.1%
Underlying Operating Expenses (£m)(668.3)(685.2)+2.5%
Underlying Profit Before Tax (£m)227.6238.1+4.6%
Profit Before Tax (£m)99.6152.9+53.5%
Earnings Per Share (p)63.0107.9+71.3%
Dividend Per Share (p)93.099.0+6.5%
Funds Under Management and Administration (£bn)109.2115.6+5.9%
Integration Costs (£m)(75.5)(39.9)-47.1%
Net Interest Income (£m)63.986.7+35.7%
Return on Capital Employed (ROCE)4.8%8.3%+73.0%
**Key Observations:** - **Profit Before Tax:** Increased significantly by 53.5% due to synergy delivery, higher average Funds Under Management and Administration (FUMA), and reduced integration costs. - **Earnings Per Share:** Rose by 71.3%, reflecting the improved profitability and share buyback program. - **Dividend Per Share:** Increased by 6.5%, demonstrating the company's commitment to returning value to shareholders. - **Funds Under Management and Administration (FUMA):** Grew by 5.9%, driven by market recovery and successful integration of Investec Wealth & Investment (IW&I). - **Integration Costs:** Decreased by 47.1%, indicating progress in the integration process and realization of synergies. - **Net Interest Income:** Increased by 35.7%, primarily due to the migration of IW&I clients onto the Rathbones banking model and synergy benefits. - **Return on Capital Employed (ROCE):** Improved by 73.0%, reflecting better utilization of capital and increased profitability. This table provides a concise comparison of key financial metrics and debt-related items, highlighting the year-on-year changes and trends for Rathbones Group PLC.
RENX
RENX Renalytix AI plc
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['First Equity Limited', '3.157760', 0]
WKS
WKS Winking Studios Limited
06:01
Market

Preliminary Results For Year Ended 31 Dec 2025

**Summary of Winking Studios Limited Preliminary Results for the Year Ended 31 December 2025** **Financial Performance:** - **Revenue Growth:** Winking Studios reported a 42.6% increase in revenue to US$45.5 million in FY2025, driven by t…

**Summary of Winking Studios Limited Preliminary Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Winking Studios reported a 42.6% increase in revenue to US$45.5 million in FY2025, driven by the acquisition of Mineloader (US$11.4 million contribution) and organic growth of 8.6%. Excluding Mineloader, underlying revenue growth was 7.0%.
**Gross Profit** Gross profit rose 43.2% to US$13.5 million, with a stable gross margin of 29.8%.
**Adjusted EBITDA** Increased by 13.2% to US$5.4 million, despite higher public listing costs and expanded operational costs post-acquisitions.
**Adjusted Net Profit** Rose to US$3.0 million from US$0.3 million in FY2024, reflecting improved operational efficiency and scale.
**Cash Position** Ended FY2025 with US$28.8 million in cash, cash equivalents, and bond investments, maintaining a debt-free status.
**Strategic Highlights**
**Acquisition of Mineloader** Successfully integrated Mineloader, adding AAA console capabilities and significantly expanding the studio network.
**Launch of Vertic Studios** Established a new high-end art production brand in Southeast Asia, focusing on AAA projects with English-speaking teams.
**Expansion of AAA Titles** Increased the number of AAA titles worked on from 14 in FY2024 to 117 in FY2025, supported by Mineloader and the expanded studio network.
**Headcount Growth** Employee count increased by 68.6% to 1,426, reflecting the addition of Mineloader and continued investment in Southeast Asia.
**Geographic Performance**
**Mainland China and Hong Kong** Remained the largest revenue contributor, increasing 51.1% to US$16.7 million.
**United States** Revenue more than doubled to US$7.3 million, primarily due to Mineloaders contribution.
**Repeat Revenue** Represented 32.8% of total revenue, down from 41.4% in FY2024, due to the larger mix of console projects post-Mineloader acquisition.
**Outlook**
**Revenue Visibility** Indicative artist bookings of at least US$48.6 million over the next 24 months, with approximately US$34.6 million expected to be recognized as revenue in FY2026.
**Market Conditions** Global games market is entering a recovery phase, with outsourcing demand exceeding earlier expectations, though price sensitivity remains.
**Strategic Priorities** Focus on establishing an operational presence in Western markets and pursuing selective M&A opportunities.
**Board Confidence** Supported by favorable market drivers, strong revenue visibility, increased capacity, and a robust balance sheet, the Board is confident in the Groups positioning for FY2026 and its ability to execute its growth strategy.
**CEOs Statement**
Johnny Jan, CEO, highlighted FY2025 as a standout year with strong growth, meaningful scaling, and successful integration of Mineloader. He emphasized the recovery in organic momentum in the second half and the step-change in AAA delivery. Looking ahead, the focus is on executing the next stage of growth, including investing in Southeast Asia and establishing a Western market presence. The CEO expressed confidence in the Groups strategy and ability to deliver sustainable value for shareholders, supported by a strong balance sheet and favorable market conditions.
Here’s an HTML table comparing the financials and debt of Winking Studios Limited for FY2025 and FY2024:
MetricFY2025 (US$ million)FY2024 (US$ million)Change (%)
Revenue45.531.9+42.6%
Gross Profit13.59.5+42.1%
Gross Margin (%)29.7%29.8%+0.1 percentage point
Adjusted EBITDA5.44.8+12.5%
Adjusted EBITDA Margin (%)12.0%15.1%-3.1 percentage points
EBITDA3.42.0+70.0%
Adjusted Net Profit3.03.4-11.8%
Net Profit0.30.5-40.0%
Cash, Cash Equivalents, and Bond Investments28.841.3-30.3%
Debt000%
### Key Highlights: 1. **Revenue Growth**: Revenue increased by 42.6% from FY2024 to FY2025, driven by organic growth and the acquisition of Mineloader. 2. **Gross Profit**: Gross profit rose by 42.1%, in line with revenue growth, while gross margin remained stable. 3. **Adjusted EBITDA**: Adjusted EBITDA grew by 12.5%, though the margin decreased due to higher expenses. 4. **Net Profit**: Net profit declined by 40.0%, primarily due to increased operating costs and non-recurring gains in FY2024. 5. **Cash Position**: Cash and cash equivalents decreased by 30.3% due to the acquisition of Mineloader, but the company remains debt-free. This table provides a clear comparison of key financial metrics and debt position year-on-year.
WJG
WJG Watkin Jones PLC
06:01
Market

Director/PDMR Shareholding

BBOX
BBOX Tritax Big Box REIT plc
06:01
Market

Dividend Declaration

WKS
WKS Winking Studios Limited
06:01
Market

GRANT OF SHARE AWARDS

DEBS
DEBS BOOHOO GROUP PLC
06:01
Market

TR-1: Notification of Major Holdings

TR1 Buy

TR1 Buy
['Ocorian Limited in its capacity as trustee of Boohoo.com Employee Benefit Trust', '2.877084', '3.564249']
UPL
UPL Upland Resources Ltd
06:01
Market

Director/PDMR Shareholding

<mark style="background-color:yellow">Purchase</mark> of 0rdinary shares

<mark style="background-coloryellow">Purchase</mark> of 0rdinary shares
MTL
MTL Metals Exploration Plc
06:01
Market

Exercise of Warrants and Options

LDG
LDG Logistics Development Group…
06:01
Market

Portfolio NAV Update

**Summary:** Logistics Development Group PLC (LDG) released its quarterly portfolio update on February 27, 2026, announcing an unaudited estimated net asset value (NAV) per share of 26.7 pence as of December 31, 2025, unchanged from the p…

**Summary**
Logistics Development Group PLC (LDG) released its quarterly portfolio update on February 27, 2026, announcing an unaudited estimated net asset value (NAV) per share of 26.7 pence as of December 31, 2025, unchanged from the previous quarter. The NAV was assessed by LDGs investment manager, DBAY, using international valuation guidelines.
**Portfolio Highlights**
1. **Finsbury Food Group Ltd (25.31% stake):**
Generated £445 million in revenue (FY June 2025) from its specialty bakery business.
Acquired Lolas Cupcakes, entering the direct-to-consumer market.
Completed a refinancing in January 2026, returning £11.4 million in capital to LDG, reducing exposure to £2.8 million.
2. **SQLI SA (10.73% stake)**
A pan-European IT services company with revenue of €252 million (FY December 2025).
Outperformed market peers with improved EBITDA margins in FY2025.
Implemented operational improvements and AI-driven initiatives to enhance profitability.
3. **Alliance Pharma plc (24.54% stake)**
Delivered £144 million in revenue (FY December 2025) from consumer healthcare products.
Disposed of small prescription brands, reducing debt and de-risking LDGs investment.
Optimized its China go-to-market strategy with a new distributor for Kelo-Cote.
4. **WS Holdco Limited (42.60% stake, increasing to 51.3% post-investment):**
Acquired WS companies and established WS People Providers for staffing services.
Focused on scaling through complementary acquisitions and improving efficiency.
Received a £10 million investment from LDG in January 2026 to support growth.
**Investment Managers Summary**
LDGs portfolio demonstrated solid growth and profitability in FY2025, despite macro volatility. The companys focus on stable, infrastructure-like sectors (e.g., bakeries, consumer health) and AI-driven cost reductions has proven effective. With a fully invested portfolio, LDG is now concentrating on value creation through operational improvements, overhead optimization, and management strengthening. The performance underscores the success of LDGs disciplined investment approach, emphasizing cash generation and attractive valuations.
Below is the HTML table code comparing the financials and debt (where available) year-on-year for the investments in Logistics Development Group PLC's portfolio, based on the provided text:
CompanyLDG's Economic InterestTotal Investment at Cost (£m)Revenue (Latest Financial Year)Revenue (Previous Year)Debt/Refinancing Details
Finsbury Food Group Ltd25.31%14.2£445m (FY June 2025)N/ARefinanced in Jan 2026; £11.4m return of capital, reducing exposure to £2.8m
SQLI SA10.73%13.3€252m (FY Dec 2025, Unaudited)N/AImproved EBITDA margin in FY2025 vs FY2024
Alliance Pharma plc24.54%39.0£144m (FY Dec 2025, Unaudited)N/ADisposed of prescription brands in Jan 2026; proceeds used to pay down debt
WS Holdco Limited42.60% (increasing to 51.3% post-investment)15.0 (additional £10m reallocated in Jan 2026)N/AN/A£10m investment reallocated from Finsbury's return of capital in Jan 2026
Other Minority Interests2.71%2.3N/AN/AN/A
### Notes: 1. **Revenue Comparison**: The table includes the latest revenue figures for each company. Since the previous year's revenue is not provided in the text, it is marked as "N/A". 2. **Debt/Refinancing**: Details on debt reduction or refinancing activities are included where mentioned in the text. 3. **WS Holdco**: Revenue data is not available, hence marked as "N/A". The investment increase is noted in the debt/refinancing column. 4. **Other Minority Interests**: No specific financial or debt details are provided, hence marked as "N/A". This table provides a clear comparison of key financials and debt-related activities for each investment in LDG's portfolio.
FDEV
FDEV Frontier Developments Plc
06:01
Market

Director/PDMR Shareholding

TKO
TKO Taseko Mines Limited
06:01
Market

Director/PDMR Shareholding

BBOX
BBOX Tritax Big Box REIT plc
06:01
Market

Results for the year ended 31 December 2025

**Summary:** Tritax Big Box REIT plc, a UK-based real estate investment trust, announced its final results for the year ended December 31, 2025, highlighting strong momentum across its growth drivers. The company reported record rental re…

**Summary**
Tritax Big Box REIT plc, a UK-based real estate investment trust, announced its final results for the year ended December 31, 2025, highlighting strong momentum across its growth drivers. The company reported record rental reversion, growing logistics development momentum, and data centers primed for launch. Key financial highlights include a 10.6% increase in net rental income to £305.3 million, a 6.1% rise in operating profit to £281.6 million, and an 11.0% growth in adjusted earnings to £223.8 million. The company also declared a dividend per share of 8.00p, up 4.4% from the previous year.
**Key Points**
1. **Financial Performance**
Net rental income increased by 10.6% to £305.3 million, driven by the full contribution from the UKCM acquisition and asset management initiatives.
Operating profit rose by 6.1% to £281.6 million, and adjusted earnings grew by 11.0% to £223.8 million.
Adjusted earnings per share (excluding additional DMA income) increased by 4.1% to 8.38p.
Dividend per share was raised by 4.4% to 8.00p, with a dividend payout ratio of 95%.
2. **Portfolio Growth and Development**
Total portfolio value increased by 20.5% to £7.89 billion, with a stable equivalent yield of 5.7%.
Contracted annual rent roll grew by 15.1% to £360.9 million, and EPRA Net Tangible Assets per share increased by 1.2% to 187.76p.
The company has a strong development pipeline, with 1.8 million sq ft under construction and a potential rental income of £19.6 million, 53% of which is pre-let.
3. **Strategic Initiatives**
Successful integration of the UKCM logistics assets and the Blackstone portfolio acquisition, creating a 20% exposure to urban logistics.
Launch of a data center program with a power-first approach, assembling a high-quality pipeline and making significant progress.
Capital recycling strategy, with £415.5 million of disposals completed or exchanged, allowing reinvestment into higher-returning opportunities.
4. **Balance Sheet and Credit Rating**
Loan-to-value (LTV) ratio increased to 33.2%, within the target range of <mark style="background-color:yellow">below</mark> 35%.
Upgraded credit rating from Moodys to A3 (stable) from Baa1 (positive).
Inclusion in the FTSE 100 index from March 2, 2026.
5. **Outlook and Growth Drivers**
The company aims to capture record rental reversion, develop best-in-class logistics assets, and generate exceptional returns through data center development.
Targeted to achieve 50% growth in adjusted earnings by the end of 2030.
Anticipated acceleration in adjusted EPS growth rate in 2026, driven by asset management opportunities and development progress.
**Conclusion**
Tritax Big Box REIT plc demonstrated robust financial performance and strategic progress in 2025, positioning itself for continued growth in the logistics and data center sectors. With a strong balance sheet, upgraded credit rating, and inclusion in the FTSE 100, the company is well-placed to execute its growth strategy and deliver value to shareholders.
Here is a comparison of the financials and debt year on year for Tritax Big Box REIT PLC, presented as an HTML table:
Metric20242025Change
Net rental income (£m)£276.0£305.310.6%
Operating profit (£m)£265.3£281.66.1%
Adjusted earnings (£m)£201.7£223.811.0%
Adjusted earnings per share (pence)8.05p8.38p4.1%
IFRS earnings per share (pence)19.67p14.39p-26.8%
Dividend per share (pence)7.66p8.00p4.4%
Total Accounting Return (%)9.0%5.5%-3.5pts
Contracted annual rent roll (£m)£313.5£360.915.1%
Portfolio value (£bn)£6.55£7.8920.5%
Loan to value (LTV) (%)28.8%33.2%+4.4pts
**Key Observations:** - **Net rental income** increased by 10.6%, driven by the full contribution from the UKCM acquisition and asset management initiatives. - **Adjusted earnings** grew by 11.0%, reflecting the increase in net rental income and cost-efficient structure. - **IFRS earnings per share** decreased by 26.8%, likely due to non-recurring items or fair value adjustments. - **Portfolio value** increased significantly by 20.5%, primarily due to the acquisition of the Blackstone portfolio. - **Loan to value (LTV)** increased by 4.4pts, reflecting the debt-financed element of the Blackstone acquisition. This table provides a concise comparison of key financial metrics and debt levels for Tritax Big Box REIT PLC between 2024 and 2025.
MRO
MRO Melrose Industries PLC
06:01
Market

FINAL RESULTS

Melrose Industries PLC, a global aerospace and defense company, reported strong financial results for the year ended December 31, 2025, with revenue growth of 8% to £3.589 billion and adjusted operating profit up 23% to £647 million. The c…

Melrose Industries PLC, a global aerospace and defense company, reported strong financial results for the year ended December 31, 2025, with revenue growth of 8% to £3.589 billion and adjusted operating profit up 23% to £647 million. The companys performance was driven by increased demand in the Engines and Defence segments, as well as the successful completion of a multi-year transformation program. Key highlights include
Revenue growth of 8% to £3.589 billion, with like-for-like growth of 8%
Adjusted operating profit up 23% to £647 million, with margins improving by 240 basis points to 18.0%
Free cash flow generation of £125 million, a significant improvement from the previous years outflow of £74 million
Completion of a multi-year transformation program, providing a strong foundation for future growth
Strong commercial progress, including key customer contract wins and new partnerships
Quality and productivity gains achieved in a complex operating environment
New share buyback program of £175 million announced
Increase in final dividend to 4.8p, taking the full-year dividend to 7.2p, a 20% increase
The companys Engines segment saw revenue growth of 15% to £1.632 billion, driven by strong performance in both original equipment and aftermarket sales. The Airframes segment, renamed from Structures, saw revenue growth of 3% to £1.957 billion, with strong performance in the Defence sub-segment.
Melroses CEO, Peter Dilnot, expressed confidence in the companys future prospects, stating that the company is well-positioned to benefit from expected production ramp-ups and ongoing aftermarket expansion. The company expects to deliver further growth in revenue, profit, and cash flow in 2026, with a clear path to achieving its 2029 targets.
In terms of financial metricsMelrose reported
Adjusted diluted EPS up 25% to 32.1 pence
Net debt of £1.407 billionwith leverage of 1.8x
Return on capital employed (ROCE) of 18.0%
The companys strong performance and positive outlook were reflected in its share price, which increased by 5% on the day of the announcement. Overall, Melrose Industries PLCs 2025 results demonstrate the companys successful transformation and strong positioning in the aerospace and defense industry, with a clear strategy for future growth and value creation.
Here is the HTML table code comparing the financials and debt year on year for Melrose Industries PLC:
Metric2025 (£m)2024 (£m)Change
Revenue3,5893,4688% increase
Operating Profit64754023% increase
Profit Before Tax51543821% increase
Free Cash Flow125(74)£199m increase
Net Debt1,4071,321£86m increase
Leverage (x)1.81.90.1x decrease
**Key Observations:** - Revenue increased by 8% from £3,468m in 2024 to £3,589m in 2025. - Operating profit increased significantly by 23% from £540m in 2024 to £647m in 2025. - Profit before tax also increased by 21% from £438m in 2024 to £515m in 2025. - Free cash flow turned positive, increasing by £199m from -£74m in 2024 to £125m in 2025. - Net debt increased by £86m from £1,321m in 2024 to £1,407m in 2025. - Leverage decreased slightly from 1.9x in 2024 to 1.8x in 2025. This table provides a concise comparison of key financial metrics and debt levels for Melrose Industries PLC between 2024 and 2025.
FLTR
FLTR Flutter Entertainment PLC
06:01
Market

Q4 and Fiscal Year 2025 Earnings

GROW
GROW Draper Esprit PLC
06:01
Market

Transaction in Own Shares

TKO
TKO Taseko Mines Limited
06:01
Market

Director/PDMR Shareholding

FGEN
FGEN Foresight Environmental Inf…
06:01
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Director/PDMR Dealing

ZEG
ZEG Zegona Communications Plc
06:01
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Transaction in Own Shares

STAN
STAN Standard Chartered PLC
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Transaction in Own Shares

BEM
BEM Beowulf Mining
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Total Voting Rights

IEM
IEM Impax Environmental Markets…
06:01
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Saba Condition Not Satisfied

SNR
SNR Senior PLC
06:01
Market

Discussions with Potential Offerors;Buyback update

**Summary:** Senior PLC announced on February 27, 2026, that it is in discussions with multiple potential offerors regarding a possible takeover offer for the entire issued and to-be-issued share capital of the company. The Board has rece…

**Summary**
Senior PLC announced on February 27, 2026, that it is in discussions with multiple potential offerors regarding a possible takeover offer for the entire issued and to-be-issued share capital of the company. The Board has received several all-cash proposals, including two superior offers from different parties, but no firm offer has been made, and there is no certainty that an offer will materialize. The Board has postponed a planned £40 million buyback program due to these ongoing discussions. The company is now in an "offer period" under the City Code on Takeovers and Mergers, triggering specific disclosure requirements for shareholders and interested parties. The announcement also includes regulatory notices, details of financial advisers, and compliance information.
Offers
UTG
UTG Unite Group PLC
06:01
Market

Total Voting Rights

CCEP
CCEP Coca-Cola Europacific Partn…
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Transactions in Own Shares

UTG
UTG Unite Group PLC
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AUTO
AUTO Auto Trader Group plc
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Transaction in Own Shares

BLU
BLU Blue Star Capital plc
06:01
Market

Final Results

**Summary of Blue Star Capital PLCs Final Results for the Year Ended 30 September 2025** Blue Star Capital PLC, an investing company focused on blockchain and payments, announced its final results for the year ended 30 September 2025. Key…

**Summary of Blue Star Capital PLCs Final Results for the Year Ended 30 September 2025**
Blue Star Capital PLC, an investing company focused on blockchain and payments, announced its final results for the year ended 30 September 2025. Key highlights include
### **Financial Performance**
**Pre-tax Loss**Reduced to £665,606 from £4,491,966 in the prior year, primarily due to a significantly lower fair value movement on investments (£346,928 vs. £4,312,519 in 2024).
**Net Assets**Increased materially to £2,865,895 (2024: £937,381), driven by new equity capital raised and the increased carrying value of the investment in SatoshiPay Limited.
**Valuation of Investments**Increased to £1,553,643 (2024: £970,394), with the carrying value of the SatoshiPay investment at £1,526,492.
### **Strategic Investments**
**SatoshiPay Limited**Increased exposure through
A €75,000 subscription via a SAFE instrument.
Acquisition of 4,531 shares (22.0% of SatoshiPays issued share capital) in exchange for 4,412,096 new ordinary shares in Blue Star.
A £1000000 secured loan to SatoshiPaywith a fair value gain of £15246 recognized in profit or loss.
**Other Investments**Reduced carrying values of Dynasty Gaming & Media and Paidia Esports Inc. to £13,965 and £13,186, respectively, due to ongoing uncertainty.
### **Capital Activities**
**Share Consolidation and Subdivision**Completed a 200:1 share consolidation and subdivision, facilitating equity fundraisings, including £1.15 million raised in July 2025.
**Cash Position**Improved to £313,236 (2024: £5,828), with prudent cash management and alignment of directors remuneration with long-term shareholder value.
### **Operational Highlights**
**SatoshiPays Vortex Platform**Launched a fiat-to-crypto infrastructure platform, operational in Brazil, Europe, Argentina, and expanding to the US. Achieved over $10 million in transaction volumes in January 2026.
**Nabla.fi**Successfully integrated with DEX aggregators, generating yield on crypto tokens.
### **Outlook**
**Focus on Vortex**The success of Vortex and its impact on SatoshiPays valuation are critical to Blue Stars future. The Board believes its 58% stake in SatoshiPay could provide significant returns.
**Cost Management**Continued focus on eliminating non-essential spending and aligning directors remuneration with equity-linked instruments.
### **Corporate Governance**
**Annual General Meeting (AGM)**Scheduled for 24 March 2026 at Cairn Financial Advisers LLP, London. Shareholders are encouraged to vote via proxy.
### **Chairmans Statement**
Tony Fabrizi, Executive Chairman, emphasized the significant progress made by SatoshiPay, particularly through its Vortex platform, and the potential for substantial returns for Blue Star shareholders. The Board remains confident in SatoshiPays growth prospects despite valuation challenges.
### **Auditors Report**
Adler Shine LLP provided an unqualified opinion, highlighting key audit matters including the valuation of investments and going concern considerations. The Company is reliant on future fundraisings to continue operations, with material uncertainty noted.
### **Financial Statements**
Detailed financial statements, including the Statement of Comprehensive Income, Statement of Financial Position, and Cash Flow Statement, were provided, showing improvements in net assets, cash position, and investment valuations.
### **Post Balance Sheet Events**
Subscribed for additional €250000 in SatoshiPay via SAFE Notes.
Directors awarded warrants as partial remuneration in lieu of salary.
Settled the loan to SatoshiPay with a combination of SAFE Notes and cash repayment, reflecting the decline in the digital asset portfolios value.
Blue Star Capital remains focused on its strategic investments, particularly in SatoshiPay, with a cautious yet optimistic outlook for future growth and shareholder value.
Here is a comparison of Blue Star Capital's financials and debt year-on-year, presented as an HTML table:
Metric20242025Change
Pre-tax Loss (£)4,491,966665,606(85%)
Net Assets (£)937,3812,865,895206%
Cash Position (£)5,828313,2365,271%
Valuation of Investments (£)970,3941,553,64359%
Loan Receivable (£)01,015,246N/A
Administrative Expenses (£)162,309193,25719%
Share-based Payment Charge (£)0126,700N/A
Net Cash from Financing Activities (£)100,0001,585,0001,485%

Debt Comparison

Debt Type2024 (£)2025 (£)Change
Loan to SatoshiPay01,000,000N/A
Loan Repayment (2026)N/A-115,000N/A
SAFE Agreements (2026)N/A658,634N/A

Notes:

  • The loan to SatoshiPay was advanced in 2025 and partially repaid in 2026, with the remaining balance converted into SAFE agreements.
  • The SAFE agreements are not considered debt but rather a form of equity investment, as they provide downside protection and a valuation cap.
  • The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
**Key Takeaways:** * Blue Star Capital significantly reduced its pre-tax loss from £4.49 million in 2024 to £0.67 million in 2025, primarily due to lower fair value movements on investments. * Net assets and cash position increased substantially in 2025, driven by new equity capital raised and increased carrying value of investments. * The company advanced a £1 million loan to SatoshiPay in 2025, which was partially repaid in 2026, with the remaining balance converted into SAFE agreements. * Administrative expenses and share-based payment charges increased in 2025, reflecting higher professional costs and transaction activity. * The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
GMET
GMET Guardian Metal Resources PLC
06:01
Market

Registration Statement Filed for Proposed U.S. IPO

ARK
ARK Arkle Resources PLC
06:01
Market

Warrants Exercise & Website Launch

**Summary:** Arkle Resources PLC (AIM: ARK), a multi-commodity exploration company focused on energy metals (uranium, lithium, zinc), announced the issuance of 10,000,000 new ordinary shares at 0.35 pence per share following the exercise …

**Summary**
Arkle Resources PLC (AIMARK), a multi-commodity exploration company focused on energy metals (uranium, lithium, zinc), announced the issuance of 10,000,000 new ordinary shares at 0.35 pence per share following the exercise of warrants, raising GBP 35,000. Post-admission of these shares on AIM (expected around March 4, 2026), the company’s total issued shares and voting rights will increase to 1,478,977,664. Arkle also launched a new website (www.arkleresources.com) reflecting its forward strategy and plans to release an updated investor presentation and host a webinar soon. The company highlighted its recent transformative acquisition of Namibia Uranium, which positions it as a leading explorer in energy metals, with projects in Namibia, Botswana, and Ireland.
**Key Points**
1. **Warrant Exercise:** 10000000 new shares issued at 0.35 penceraising GBP 35000.
2. **Total Shares Post-Admission** 1,478,977,664 ordinary shares.
3. **Website Launch** New website reflects updated strategy and includes project maps.
4. **Strategic Repositioning** Recent Namibia Uranium acquisition enhances Arkle’s focus on energy metals exploration.
5. **Upcoming Activities** Investor presentation and webinar planned for near future.
Launch
GLV
GLV Glenveagh Properties PLC
06:01
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Transaction in Own Shares

JUST
JUST Just Group plc
06:01
Market

Results for the year ended 31 December 2025

**Summary of Just Group PLCs Final Results for the Year Ended 31 December 2025** Just Group PLC reported its financial results for the year ended 31 December 2025, highlighting a year of strategic execution, disciplined pricing, and prepa…

**Summary of Just Group PLCs Final Results for the Year Ended 31 December 2025**
Just Group PLC reported its financial results for the year ended 31 December 2025, highlighting a year of strategic execution, disciplined pricing, and preparation for future growth amidst a competitive market. The company announced a proposed combination with Brookfield Wealth Solutions Ltd (BWS), expected to complete in the first half of 2026, which is seen as a significant opportunity for customers, shareholders, and colleagues.
**Financial Highlights**
**Underlying Operating Profit** Decreased by 39% to £305 million, primarily due to lower new business margins on reduced sales, partially offset by higher recurring in-force profit.
**Retirement Income Sales** Fell by 18% to £4.3 billion, with a strong growth in Guaranteed Income for Life (GIfL) sales partially offsetting a decline in Defined Benefit (DB) sales.
**GIfL Sales** Increased by 23% to £1.3 billion, reflecting improvements in the advisor proposition.
**DB Sales** Decreased by 28% to £3.1 billion, due to fewer medium-sized transactions in a competitive market.
**New Business Margins** Lower at 5.7%, impacted by increased competition, tighter spreads, lower volumes, and business mix.
**Solvency II Capital Coverage Ratio** Remained robust at 179%, despite a fall from the previous years 204%, due to new business growth and non-operating items.
**IFRS Performance** Tangible net assets increased to £2.7 billion, and adjusted profit before tax was £120 million, leading to an IFRS loss before tax of £(118) million.
**Strategic Developments**
**Proactive Capital Management** Just Group deliberately reduced volume in the DB market to manage capital resources and maintain pricing discipline.
**Market Outlook** Anticipates a rebound in the DB market in 2026, driven by renewed demand and a strong pipeline. The retail guaranteed income market is also expected to offer significant long-term growth potential.
**Sustainability** Achieved net zero emissions in its own operations (Scope 1 and 2) by 2025 and is on track to reduce Scope 3 emissions by 50% by 2030.
**Operational Excellence**
**DB Transactions** Completed a record 130 transactions, maintaining its position as the number one DB provider by deal number.
**Retail Business Growth** GIfL sales grew by 23%, benefiting from an improved advisor proposition and strong market demand.
**Future Prospects**
**Combination with BWS** Expected to enhance Just Groups reach, offering, and investment capabilities, positioning the company for continued growth and value creation.
**Market Opportunities** Well-positioned to capitalize on the DB market rebound and the long-term growth potential of the retail guaranteed income market.
In conclusion, Just Group PLCs 2025 results reflect a year of strategic discipline and preparation for future growth, with the proposed combination with BWS marking a significant step towards enhancing its market position and value proposition.
Here is the HTML table code comparing the financials and debt year on year for Just Group PLC:
OMI
OMI Orosur Mining Inc
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Total Voting Rights

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TRIG Renewables Infrastructure G…
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Announcement of 2025 Annual Results

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STX Shield Therapeutics plc
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WINE Naked Wines plc
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CHRY Chrysalis Investments Ltd
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HIK Hikma Pharmaceuticals PLC
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PSON
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ARR Aurora Investment Trust plc
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BCG Baltic Classifieds Group PLC
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RMV
RMV Rightmove PLC
06:01
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Annual Financial Report

**Summary of Rightmove Plcs Annual Financial Report (2025)** Rightmove Plc, the UKs leading property portal, reported strong financial and operational performance for the year ended 31 December 2025, highlighting accelerated innovation an…

**Summary of Rightmove Plcs Annual Financial Report (2025)**
Rightmove Plc, the UKs leading property portal, reported strong financial and operational performance for the year ended 31 December 2025, highlighting accelerated innovation and clear value recognition from partners and consumers.
**Key Financial Highlights**
**Revenue and Profit Growth** Revenue increased by 9% to £425.1 million, with underlying operating profit up 9% to £297.7 million. Operating profit rose 12% to £287.9 million.
**Strategic Growth Areas** Combined revenue from Commercial Property, Mortgages, and Rental Services grew by 25% to £29.1 million.
**Earnings Per Share (EPS)** Basic EPS increased by 15% to 28.1p, and underlying EPS grew by 11% to 29.1p.
**Dividends and Share Buybacks** A final dividend of 6.59p per share (up 8%) was announced, with a total dividend of 10.64p. A £90 million share buyback program was also initiated, to be completed by 31 July 2026.
**Operational Achievements**
**Partner Engagement** Agency membership grew by 2%, with the second-highest retention rate in over 10 years. New AI-enabled products like Online Agent Valuation saw rapid adoption.
**Consumer Engagement** Record time spent on Rightmove (89% Comscore
75% SimilarWeb/data.ai/Sensor Tower) with over 85% of traffic direct and organic. AI-powered features enhanced user experience.
**Technology Innovation** Launched 24% more products/features, including conversational search and AI-driven tools, supported by a multi-year collaboration with Google Cloud.
**Market Trends and Outlook**
**Property Market** Supportive conditions with falling interest rates and mortgage costs. Sales transactions increased by 10% to 1.2 million, while rental demand remained strong.
**2026 Guidance** Revenue growth of 8-10% is expected, with strategic growth areas projected to grow by 20-30%. Underlying operating profit margin is forecast at 67% due to increased investment in innovation.
**Strategic Focus**
Rightmove is accelerating investment in AI-powered operations, consumer and partner innovation, and new growth initiatives to sustain double-digit growth. The company aims to deepen its role in digitizing the UK property market ecosystem, enhancing value for all stakeholders.
**Leadership and Sustainability**
CEO Johan Svanstrom emphasized Rightmoves commitment to innovation, sustainability, and community support, while Chair Andrew Fisher highlighted the companys resilience and strategic focus on long-term growth.
**Conclusion**
Rightmove Plc demonstrated robust financial performance, strategic innovation, and strong market positioning in 2025, setting a positive trajectory for continued growth and value creation in 2026 and beyond.
Here is the HTML table code comparing the financials and debt year on year for Rightmove Plc based on the provided text:
Metric20242025Change
Underlying operating profit (£m)504305(39%)
Retirement Income sales (£bn)5.34.3(18%)
New business profit (£m)460249(46%)
New business margin (%)8.7%5.7%(34%)
Solvency II capital coverage ratio (%)204%179%(12%)
Tangible net assets (£bn)2.62.74%
Cash generation (£m)1191309%
New business strain (% of premium)1.3%2.7%115%
Metric20252024Change% Change
Revenue£425.1m£389.9m£35.2m+9%
Operating Profit£287.9m£256.3m£31.6m+12%
Underlying Operating Profit£297.7m£273.9m£23.8m+9%
Final Dividend per Share6.59p6.10p0.49p+8%
Basic Earnings per Share28.1p24.4p3.7p+15%
Underlying Basic Earnings per Share29.1p26.2p2.9p+11%
Total Debt (not explicitly mentioned, but cash position is provided)£0 (debt-free)£0 (debt-free)£00%
Cash and Money Market Deposits£42.9m£41.3m£1.6m+4%
**Notes:** - The table includes the key financial metrics mentioned in the text, comparing 2025 and 2024. - Since the text does not explicitly mention debt, it is assumed that Rightmove Plc is debt-free based on the statement "Throughout the period, the Group was debt-free". - The cash position is included to provide insight into the company's liquidity. - All values are in GBP (£) and percentages are calculated based on the provided data.
PLUS
PLUS Plus500 Ltd
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Transaction in Own Shares

CVSG
CVSG CVS Group Plc
06:01
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Total Voting Rights

VOD
VOD Vodafone Group PLC
06:01
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Transaction in Own Shares

KGF
KGF Kingfisher PLC
06:01
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IHG
IHG InterContinental Hotels Gro…
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RCP
RCP RIT Capital Partners
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SSPG
SSPG SSP Group PLC
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PRU
PRU Prudential plc
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TRST
TRST Trustpilot Group PLC
06:01
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SRT
SRT SRT Marine Systems plc
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New $20.5m Systems Contract

Please provide the text you would like me to summarize. Im ready when you are!

Please provide the text you would like me to summarize. Im ready when you are!
NewContract
HTWS
HTWS Helios Towers Plc
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BPT
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BTRW
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PALM Panther Metals PLC
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Obonga Project: Wishbone VMS Update

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TRP Tower Resources plc
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TRN Trainline Plc
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VLG Venture Life Group PLC
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NAVF Nippon Active Value Fund Plc
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DRX
DRX Drax Group PLC
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EXPN
EXPN Experian PLC
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AAF
AAF Airtel Africa Plc
06:01
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FDEV
FDEV Frontier Developments Plc
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GHH Gooch & Housego Plc
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MUT Murray Income Trust
06:01
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Half-year Financial Report

VOX
VOX Vox Valor Capital Ltd.
06:01
Market

Half-year Financial Report

**Summary of Vox Valor Capital Limiteds Half-Year Financial Report (February 2026)** **Overview** Vox Valor Capital Limited (LSE: VOX) released its unaudited interim financial statements for the six months ended 30 November 2025. The …

**Summary of Vox Valor Capital Limiteds Half-Year Financial Report (February 2026)**
**Overview**
Vox Valor Capital Limited (LSEVOX) released its unaudited interim financial statements for the six months ended 30 November 2025. The Group operates in mobile marketing and advertising through its subsidiaries: Mobio Global Limited (UK), Mobio Singapore Pte Ltd, and Mobio Global Inc. (US). The Group employs 30 contractors and employees across its subsidiaries.
**Financial Highlights**
**Revenue**USD 5.2 million (H1 2024: USD 6.2 million). The decline reflects a strategic shift to prioritize the US market, leading to reduced focus on lower-margin activities in the UK.
**Revenue Breakdown**
Mobio SingaporeUSD 3.2 million (H1 2024: USD 3.6 million).
Mobio Global USUSD 1.1 million (H1 2024: USD 0.6 million), showing significant growth due to increased investment.
Mobio Global UKUSD 0.9 million (H1 2024: USD 2.0 million), reflecting a strategic reduction in lower-margin activities.
**Operating Expenses**USD 4.6 million (H1 2024: USD 5.9 million), primarily due to cost management and reduced UK operations.
**Operating Profit (Loss)**USD 0.094 million (H1 2024: Loss of USD 0.255 million).
**Net Profit (Loss)**USD 0.004 million (H1 2024: Loss of USD 0.610 million).
**Strategic Focus**
The Group is prioritizing the US market, its largest addressable market, leading to increased investment in Mobio Global US.
Reduced emphasis on lower-margin activities in the UK, resulting in lower revenue and operating expenses in that region.
**Outlook**
The Board is cautiously optimistic about continued revenue growth and expense control despite inflationary pressures.
Evaluating acquisition and partnership opportunities in the mobile marketing and advertising sector, including Web3 and blockchain.
**Financial Position**
**Cash Balances**: USD 65000 as of 30 November 2025.
**Total Assets**USD 14.6 million.
**Total Equity**USD 8.6 million.
**Total Liabilities**USD 5.9 million, including long-term loans of USD 3.4 million.
**Risks and Uncertainties**
Principal risks remain unchanged from the annual report for the year ended 31 May 2025.
Exposure to foreign currency riskcredit riskand liquidity risk.
Monitoring geopolitical risks, including the impact of the Russia-Ukraine conflict.
**Corporate Governance**
DirectorsJohn G Booth (Chairman), Rumit Shah (Non-Executive Director), and Konstantin Khomyakov (Finance Director until 23 December 2025).
The Board confirmed the financial statements give a true and fair view of the Groups financial position.
**Conclusion**
Vox Valor Capital Limited is strategically refocusing on the US market, leading to revenue growth in the US but overall revenue decline. The Group is managing costs effectively and remains optimistic about future growth, while actively exploring expansion opportunities in the mobile marketing sector.
Here is the HTML table code comparing the financials and debt year on year for Vox Valor Capital Limited:
Financial MetricPeriod Ended 30 Nov 2025 (USD)Period Ended 30 Nov 2024 (USD)Change
Revenue5,170,7516,207,479(1,036,728)
Operating Expenses4,552,6935,850,502(1,297,809)
Operating Profit (Loss)94,211(254,613)348,824
Net Non-Operating Result431,9041,644430,260
Net Financial Result(449,616)(363,101)(86,515)
Profit (Loss) Before Tax76,499(616,070)692,569
Profit/(Loss) For The Period3,921(610,011)613,932
Total Comprehensive Income/(Loss)(214,106)(527,075)312,969
Cash and Cash Equivalents64,80953,23511,574
Total Debt (Long-term + Short-term)3,454,1433,247,952206,191

Debt Breakdown:

Debt Type30 Nov 2025 (USD)31 May 2025 (USD)Change
Long-term Debt3,421,3763,217,313204,063
Short-term Debt32,76730,6392,128

Notes:

  • Revenue decreased by USD 1,036,728, primarily due to a shift in focus towards the US market and reduced emphasis on lower-margin activities in the UK.
  • Operating expenses decreased by USD 1,297,809, mainly due to cost management and repositioning of the operating model.
  • Total debt increased by USD 206,191, with long-term debt increasing by USD 204,063 and short-term debt increasing by USD 2,128.
This HTML code creates two tables: 1. The first table compares key financial metrics year on year, including revenue, operating expenses, profits, and cash balances. 2. The second table breaks down the debt into long-term and short-term components, showing the changes between the two periods. The notes below the tables provide additional context for the changes in revenue, operating expenses, and debt.
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EYE Eagle Eye Solutions Group p…
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AMIF Amicorp FS (UK) PLC
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FY25 Trading Update

ATOM
ATOM Atome Energy PLC
06:01
Market

Villeta Project Update

PBEE
PBEE Pensionbee Group PLC
06:01
Market

Total Voting Rights

REE
REE Altona Rare Earths PLC
06:01
Market

USTDA Grant Agreement for Monte Muambe Signed

**Summary:** Altona Rare Earths PLC, a London-listed exploration and development company focused on critical raw materials in Africa, has signed a significant grant agreement with the United States Trade and Development Agency (USTDA) for…

**Summary**
Altona Rare Earths PLC, a London-listed exploration and development company focused on critical raw materials in Africa, has signed a significant grant agreement with the United States Trade and Development Agency (USTDA) for its Monte Muambe rare earths project in Mozambique. The USTDA will provide a $1.875 million grant to fund the metallurgy and process engineering components of the projects prefeasibility study. This includes drilling, metallurgical <mark style="background-color:yellow">test</mark>ing, environmental and commercial studies, engagement with potential US off-take partners, and financial modeling. The partnership strengthens US supply chain security for critical minerals while supporting Mozambiques goal of becoming a major player in the global critical minerals market.
Key highlights
**Grant Agreement**USTDA provides $1.875 million for Monte Muambe rare earths project prefeasibility study.
**Strategic Partnership**Collaboration with US Government advances Altonas ambition to become a major Western source of magnet rare earths.
**Project Scope**Funding covers drilling, metallurgical testing, environmental studies, and engagement with US off-take partners.
**Critical Minerals Focus**Rare earths are essential for defense, technology, and clean energy applications.
**Company Portfolio**Altonas diversified strategy includes fluorspar, gallium, and copper-silver projects across Africa.
This agreement marks a transformative step for Altona, aligning with US strategic priorities and positioning the company for long-term growth in the critical raw materials sector.
Agreement
IAG
IAG International Consolidated …
06:01
Market

IAG FY 2025 Results

VEIL
VEIL Vietnam Enterprise Investme…
06:01
Market

Transaction in Own Shares

BFSP
BFSP Blackfinch Spring VCT PLC
06:01
Market

Issue of Equity

OXIG
OXIG Oxford Instruments PLC
06:01
Market

Transaction in Own Shares

MDZ
MDZ MediaZest plc
06:01
Market

Final Results

**MediaZest Plc Annual Financial Report Summary (FY25)** **Financial Highlights:** - **Revenue Growth:** Increased by 35% to £4.154 million (FY24: £3.074 million). - **Gross Profit:** Rose 47% to £2.346 million (FY24: £1.595 million…

**MediaZest Plc Annual Financial Report Summary (FY25)**
**Financial Highlights**
**Revenue Growth** Increased by 35% to £4.154 million (FY24: £3.074 million).
**Gross Profit** Rose 47% to £2.346 million (FY24: £1.595 million), with a gross margin improvement to 56% (FY24: 52%).
**EBITDA:** Surged to £331000 (FY24: £14000).
**Profit After Tax** Returned to profitability at £98,000 (FY24: £214,000 loss).
**Earnings per Share** Improved to 0.0058 pence (FY24: 0.0133 pence loss).
**Cash Position** Strengthened to £99,000 (FY24: £64,000).
**Operational Highlights**
Delivered strong performance in the last four months of FY25, with significant projects for clients like First Rate, Pets at Home, Lululemon Athletica, Arcteryx, Kia, Hyundai, and Duty Free.
Signed a major contract with First Rate for digital currency board installations across 1,200 UK locations.
Continued expansion in Europe with projects for Lululemon Athletica and Arcteryx.
Appointed Keith Edelman as new Chairman in June 2025.
**Post Year-End Highlights**
**Debt Restructuring** Successfully restructured debt, writing off £529,000 in interest and repaying £785,609 over six years.
**Fundraising** Raised £215,000 through equity issuance, with Dr Graham Cooley as a new significant shareholder.
**Outlook**
Strong demand across retail, automotive, and corporate sectors, with FY26 targeting revenue of £5 million and profit after tax exceeding £250,000.
Focus on long-term recurring revenue contracts and potential M&A opportunities to enhance growth.
**Key Financial Metrics (FY25 vs FY24)**
**Metric**
**FY25 (£’000)**
**FY24 (£’000)**
Revenue
4154
3074
Gross Profit
2346
1595
EBITDA
331
14
Profit After Tax
98
(214)
Cash
99
64
**Conclusion**
MediaZest Plc demonstrated significant financial and operational improvement in FY25, returning to profitability and strengthening its balance sheet. With a robust pipeline of projects and strategic initiatives, the company is well-positioned for continued growth in FY26.
Below is the HTML table code comparing the financials and debt year on year for MediaZest Plc based on the provided text: < lang="en">MediaZest Plc Financials and Debt Comparison

MediaZest Plc Financials and Debt Comparison (FY25 vs FY24)

MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue4,1543,0741,08035%
Gross Profit2,3461,59575147%
EBITDA331143172,264%
Profit after Tax98(214)312-146%
Cash99643555%
Debt Principal (Post Restructuring)785.61,283(497.4)-39%
Interest Written Off529-529N/A
### Explanation: 1. **Revenue**: Increased by £1,080,000 (35%) from FY24 to FY25. 2. **Gross Profit**: Increased by £751,000 (47%) from FY24 to FY25. 3. **EBITDA**: Increased significantly by £317,000 (2,264%) from FY24 to FY25. 4. **Profit after Tax**: Improved by £312,000, turning from a loss of £214,000 in FY24 to a profit of £98,000 in FY25. 5. **Cash**: Increased by £35,000 (55%) from FY24 to FY25. 6. **Debt Principal**: Reduced by £497,400 (39%) post-restructuring in FY25 compared to FY24. 7. **Interest Written Off**: £529,000 was written off in FY25 as part of the debt restructuring. This table provides a clear comparison of key financial metrics and debt restructuring details between FY25 and FY24.
MOON
MOON Moonpig Group PLC
06:01
Market

Transaction in Own Shares

CGL
CGL Castelnau Group Limited
06:01
Market

HORNBY AGREES SALE OF SCALEXTRIC

BRGE
BRGE BlackRock Greater Europe In…
06:01
Market

Total Voting Rights

BRLA
BRLA BlackRock Latin American In…
06:01
Market

Portfolio Update

FSG
FSG Foresight Group Holdings Li…
06:01
Market

Transaction in Own Shares

NBPE
NBPE NB Private Equity Partners …
06:01
Market

NBPE Announces Transaction in Own Shares

ICG
ICG Intermediate Capital Group …
06:01
Market

Transaction in Own Shares

ICGT
ICGT ICG Enterprise Trust PLC
06:01
Market

Transaction in Own Shares

PSH
PSH Pershing Square Holdings Ltd
06:01
Market

Transaction in Own Shares

YNGN
YNGN Young & Co.s Brewery P.L.C
06:01
Market

Transaction in Own Shares

TFG
TFG Tetragon Financial Group Ltd
05:56
Market

Statement re: Monthly Factsheet

Digested News

The ticker catalyst tape is rendered as native mobile cards. Articles and ticker links stay clickable.

DEC logo DEC

Diversified Energy TR-1

Diversified Energy Company PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Barclays PLC', '', 0]
SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['City of London Investment Management Company Limited', '14.950000', '15.020000']
HVO logo HVO

Holding(s) in Company

hVIVO plc

TR1 Buy
['Rathbones Investment Management Ltd', '9.999200', '10.996600']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['Morgan Stanley', '5.936702', '6.086446']
BOWL logo BOWL

Holding(s) in Company

Hollywood Bowl Group PLC

<mark style="background-coloryellow">TR1</mark> Buy
['BlackRock, Inc.', '3.990000', 'Below 5']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['Societe Generale', '5.165383', '4.591594']
IPF logo IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['HSBC Holdings plc', '10.626000', '9.994000']
IPF logo IPF

Form 8.3

International Personal Finance PLC

SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['1607 Capital Partners, LLC', '2.775756', '9.634830']
SEC logo SEC

Holding(s) in Company

Strategic Equity Capital Closed Fund

TR1 Buy
['Gresham House Asset Management Ltd', '17.23', '16.07']
IAG logo IAG

Launch of €500 million Share Buyback Programme

International Consolidated Airlines Group S.A

**Summary**
International Consolidated Airlines Group (IAG) announced the launch of a €500 million share buyback programme on February 27, 2026, aimed at reducing the companys share capital, pending shareholder approval. The programme, authorized by the 2025 Annual General Meeting, will be executed by Morgan Stanley Europe SE and Goldman Sachs Bank Europe SE, starting on March 2, 2026, and is expected to conclude by May 29, 2026.
Key details include
**Total Value** €500 million, with €374 million allocated for market purchases and €126 million for purchases from Qatar Airways.
**Qatar Airways Participation** Qatar Airways will maintain its 25.1434% stake in IAG by selling shares proportionally to the banks, rather than directly in the market.
**Scope** Up to 310,717,331 ordinary shares (6.57% of issued share capital) will be purchased on the London and Spanish Stock Exchanges.
**Price Limits** Shares will be bought at a price no higher than the lower of (i) the higher of the last independent trade or highest current bid, and (ii) 105% of the 5-day average market value.
**Daily Volume Cap** Purchases will not exceed 25% of the average daily trading volume over the preceding 20 days.
**Post-Purchase** Acquired shares will be held in treasury, with potential cancellation subject to shareholder approval at the next Annual General Meeting.
The programme complies with EU Market Abuse Regulation and related delegated regulations, ensuring transparency and fairness in execution.
Launch
IPF logo IPF

Form 8.3

International Personal Finance PLC

HLCL logo HLCL

Helical and PfL JV forward funds Southwark PBSA

Helical Bar Plc

**Summary**
Helical PLC and Places for London (Transport for Londons property company) have entered into a joint venture (JV) to forward fund and sell a purpose-built student accommodation (PBSA) project in Southwark, London, valued at over £200 million upon completion. The scheme includes 429 high-quality student studios, new retail space, and public realm enhancements, designed by AHMM. It also supports the delivery of 44 affordable homes and community facilities, which have been forward sold to the London Borough of Southwark.
The transaction exemplifies Helicals "equity light" strategy, targeting a return on equity of over 3.0x. Construction is set to begin in 2026, with completion by 2029, in time for the 2029/30 academic year. The JV will receive an initial payment of £35.2 million (Helicals share: £18.0 million) upon Gateway 2 approval, expected in the second half of 2026, returning all committed equity and including an interim profit of £20 million (Helicals share: £10.2 million). No further equity is anticipated, with remaining profits payable upon completion.
Places for London will own the PBSA building, generating sustainable long-term income for reinvestment into Londons transport network. The project is one of three sites being developed by the JV, with additional central London projects in the pipeline, potentially including more student accommodation using a similar equity light structure.
Key executives from both companies highlighted the transactions strategic importance, emphasizing the delivery of high-quality student housing, affordable homes, and its contribution to Londons growth and transport funding.
JV
EVST logo EVST

Final Results

Everest Global PLC

**Summary of Everest Global PLCs Final Results for the Year Ended 31 October 2025**
**Financial Performance**
**Revenue Growth** Revenue increased to £566,755 in 2025 from £437,768 in 2024, driven by the full contribution of a new retail store opened in January 2025.
**Loss Before Tax** The company reported a loss before tax of £1,105,279 in 2025, compared to a loss of £629,780 in 2024. The first half of 2025 showed strong performance, with a return to profitability before one-off items of £75,617.
**Gross Profit Margins** Margins improved due to better supplier terms and a favorable product mix.
**Administrative Expenses** Managed prudently, with a focus on operational discipline and future growth investment.
**Capital Management**
**Convertible Loan Notes (CLNs)** The outstanding balance of CLNs decreased to £2,537,520 in 2025 from £3,570,119 in 2024. In August 2025, £1,500,000 of CLNs were repaid to Surich Real Estate Opportunity Fund SPC (SPC). In November 2025, SPC subscribed for £1,500,000 in new CLNs to support working capital, capital expenditure, and potential acquisitions.
**Capital Re-Organisation** Shareholders approved a capital re-organisation in November 2025, involving the sub-division and re-classification of existing ordinary shares into new ordinary shares. The re-organisation resulted in 1 new ordinary share for every 200 existing shares, reducing the total number of shares from 77,388,855 to 386,945.
**Strategic Initiatives**
**Acquisition Strategy** Focus on expanding through acquisitions, investments, and joint ventures in the food and beverage industry, particularly in beverage distribution and production in the UK and Europe.
**Organic Growth** Scaling existing operations, including increasing stores and product lines for Precious Link (UK) Limited.
**Geographic Expansion** Plans to expand further in London and Southeast England.
**Category Extension** Introduction of premium tobacco, spirits, specialty beverages, and complementary product lines.
**Outlook**
**Growth Focus** Continued emphasis on acquisitions, investments, and joint ventures in the food and beverage sector.
**Capital Structure Management** Active management of the capital structure, including simplifying the CLN position and completing the capital re-organisation.
**Funding Requirements** Additional capital will be needed to invest in strategic opportunities.
**Corporate Governance and Compliance**
**Stakeholder Engagement** Commitment to engaging with customers, suppliers, shareholders, lenders, and staff to ensure alignment with strategic goals.
**Regulatory Compliance** Adherence to national and international laws and regulations, including human rights and social interaction standards.
**Key Performance Indicators (KPIs)**
**Turnover:** Increased to £566755 in 2025 from £437768 in 2024.
**Gross Profit:** Rose to £171362 in 2025 from £108054 in 2024.
**Cash on Hand:** Increased to £1063463 in 2025 from £279725 in 2024.
**Underlying Operating Loss** Improved to £1,085,087 in 2025 from £669,607 in 2024.
**Risks and Uncertainties**
**Financial Risks** Credit risk, liquidity risk, and foreign currency risk are actively managed.
**Operational Risks** Supply chain disruptions, regulatory compliance, and maintaining product quality are key concerns.
**Strategic Risks** Identifying suitable acquisition targets and adapting to changing consumer preferences are critical challenges.
**Conclusion**
Everest Global PLC demonstrated resilience and strategic focus in 2025, despite financial losses. The companys efforts in capital management, strategic acquisitions, and operational efficiency position it for future growth in the competitive food and beverage industry. The Board remains committed to delivering long-term value to shareholders through disciplined capital allocation and strategic expansion.
Here is the HTML table code comparing the financials and debt year on year for Everest Global PLC:
Financial MetricYear Ended 31 Oct 2025Year Ended 31 Oct 2024Change
Revenue£566,755£437,76829.4%
Gross Profit£171,362£108,05458.6%
Operating Loss(£1,085,087)(£669,607)-62.1%
Loss Before Tax(£1,105,279)(£629,780)-75.5%
Cash and Cash Equivalents£1,063,463£279,725280.2%
Convertible Loan Notes (CLNs)£2,537,520£3,570,119-28.9%
Total Debt (incl. CLNs)£2,732,712£3,635,775-24.9%

Notes:

  • Revenue and gross profit increased significantly year-on-year, driven by the full contribution of the new retail store opened in January 2025.
  • Operating loss and loss before tax worsened due to a £379,127 impairment of goodwill related to the acquisition of Precious Link (UK) Limited.
  • Cash and cash equivalents increased substantially due to financing activities, including the issuance of new CLNs and repayment of existing ones.
  • CLNs and total debt decreased as the company repaid £1,500,000 of CLNs in August 2025 and issued new CLNs post-year end.
This table provides a clear comparison of key financial metrics and debt levels between the two years, highlighting the significant changes and their drivers.
IPF logo IPF

Form 8.3

International Personal Finance PLC

SOI logo SOI

Holding(s) in Company

Schroder Oriental Income Fund

TR1 Buy
['Raymond James Wealth Management Limited', '5.000000', '5.010000']
PMP logo PMP

Holding(s) in Company

Portmeirion Group PLC

TR1 Buy
['Peter Gyllenhammar AB', '12.324000', '11.290000']
JAR logo JAR

JC&C - 2025 FY Results and Dividend

Jardine Matheson Holdings Limited

Jardine Cycle & Carriage Limited (JC&C) reported its financial results for the year ended December 31, 2025, highlighting stable performance and strategic progress across its portfolio. Here’s a summary of the key points
### **Financial Highlights**
**Underlying Profit** US$1.110 billion, up 1% from 2024, driven by improvements in Vietnam and Singapore, offsetting challenges in Indonesia.
**Revenue** US$21.358 billion, down 4% from 2024, primarily due to lower contributions from Indonesia.
**Proposed Dividend** US¢85 per share (final), totaling US¢113 for the year, a 1% increase from 2024.
### **Regional Performance**
1. **Indonesia**
Contribution to underlying profitUS$945 million, down 8% due to lower contributions from Astra, particularly in mining services, coal mining, and new car sales.
Astra’s strategic initiatives include partnerships in the used car sector (ADMO with Toyota), acquisition of industrial and logistics properties (MMP), and increased stakes in healthcare platforms (Halodoc and Hermina).
United Tractors expanded into gold mining with the acquisition of Arafura Surya Alam.
2. **Vietnam**
Contribution to underlying profitUS$129 million, up 25%, led by strong performances from THACO (real estate) and REE (power generation).
JC&C increased its stake in REE to 41.7%.
3. **Singapore**
Cycle & Carriage reported a 49% increase in contribution to US$48 million, driven by strong commercial vehicle sales and used car business.
### **Strategic Developments**
**Divestments** Sold 4.6% and 3.5% stakes in Vinamilk for US$228 million and US$188 million, respectively, to focus on core portfolio.
**Debt Reduction** Reduced corporate net debt from US$816 million to US$577 million.
**Share Buybacks** Astra and United Tractors completed Rp2 trillion share buyback programs, reflecting confidence in future prospects.
### **Outlook**
**Indonesia** Operating environment remains challenging, but consumer sentiment may see moderate recovery.
**Vietnam** Expected to continue growing, supported by THACO and REE.
**Singapore** Anticipated to deliver resilient earnings.
### **Corporate Governance**
Samuel Tsien assumed the role of JC&C’s first independent chairman.
Ben Birks and Jeffery Tan stepped down as Group Managing Director and Company Secretary, respectively.
### **Conclusion**
JC&C demonstrated resilience in 2025, navigating regional challenges while advancing its strategic objectives. The company remains focused on sustainable value creation and delivering strong shareholder returns, supported by a diversified portfolio and disciplined capital management.
Here is the HTML table code comparing the financials and debt year on year for Jardine Cycle & Carriage Limited:
Metric2025 (US$m)2024 (US$m)Change (%)
Revenue21,35822,298-4%
Underlying Profit1,1101,1021%
Profit Attributable to Shareholders9989465%
Net Debt (excl. Astra's financial services)44235-81%
Net Debt (Astra's financial services)3,9003,7005%
Corporate Net Debt577816-29%

Key Observations:

  • Revenue decreased by 4% year-on-year, primarily due to lower contributions from Indonesia.
  • Underlying profit increased slightly by 1%, driven by improvements in Vietnam and Singapore, as well as foreign exchange gains and lower financing costs.
  • Net debt (excluding Astra's financial services) decreased significantly by 81%, mainly due to proceeds from the partial disposal of Vinamilk.
  • Corporate net debt decreased by 29%, reflecting the Group's focus on reducing debt and building financial flexibility.
**Note:** The above table and observations are based on the provided text. The actual financial statements and notes should be referred to for a comprehensive understanding of the company's financial performance and position.
WIZZ logo WIZZ

Holding(s) in Company

Wizz Air Holdings PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Barclays PLC', 'Below notifiable threshold', '0.170000']
UPL logo UPL

TR1

Upland Resources Ltd

WNX logo WNX

Half Yearly Report and Accounts

Wellnex Life Limited

**Summary of Wellnex Life Limiteds Half-Year Report (H1 FY26)**
**Key Highlights**
**Revenue Growth** Revenue increased by 8% to $12.9 million in H1 FY26 compared to the same period in FY25.
**Gross Margin Improvement** Gross margin rose significantly by 9.4 percentage points to 32.1%, driven by cost control and operational efficiency.
**Operating Breakeven** The company achieved operating breakeven in Q2 FY26, marking a turnaround in financial performance.
**Strategic Turnaround** Wellnex Life implemented a strategic turnaround focused on a leaner, more efficient operation, enhanced management processes, and tighter capital management.
**Funding Review** Post-period, the company is exploring funding options, including settling related party loans.
**Financial Performance**
**Revenue** $12.919 million, up 8% from H1 FY25, with brand sales contributing 72.3% and IP licensing the remainder.
**Loss Reduction** Loss from ordinary activities after tax decreased by 76.2% to $(1.793) million.
**Net Tangible Assets** Decreased slightly to $(13.06) cents per ordinary security from $(12.51) cents in the previous period.
**Operational Updates**
**Pain Away** Maintained market position with $7.0 million in sales, improved gross margin by 7.9%, and gained market share in heat patches and roll-ons.
**Wakey Wakey/Nighty Night** Consolidated underperforming SKUs, ceasing investments in these areas.
**Wagner Health Liquigesic** Launched Australias first TGA-approved soft gel liquid paracetamol, expanding product offerings and strengthening brand recognition.
**Mr Bright** Discontinued natural teeth whitening brand, planning to divest its intellectual property.
**Corporate Governance**
**Board Restructure** Reduced the number of directors from 7 to 3, with Ash Vesali appointed as Executive Chairman.
**Management Changes** Accepted resignations of Joint Chief Executive Officers, with Vesali overseeing both the Board and management during the transition.
**Going Concern**
Despite losses and net operating cash outflows, the company believes it can continue as a going concern, supported by
Stabilizing turnaround trajectory and increasing gross margins.
Potential asset monetization opportunities.
Targeted cost reduction program aiming for $1 million in annualized savings.
Ability to raise additional capital and access debt facilities.
**Conclusion**
Wellnex Life Limited demonstrated significant progress in H1 FY26, achieving revenue growth, gross margin improvement, and operating breakeven. The company remains focused on consistent performance and long-term shareholder value creation, while addressing financial challenges through strategic initiatives and funding exploration.
Here is the HTML table code comparing the financials and debt year on year for Wellnex Life Limited: tr>
Financial MetricH1 FY26 (Dec 2025)H1 FY25 (Dec 2024)Change
Revenue$12.9 million$11.962 million8% increase
Gross Margin32.1%22.7%9.4 percentage points increase
Loss from ordinary activities after tax($1.793 million)($7.526 million)76.2% decrease in loss
Net Tangible Assets per ordinary security (cents)(13.06)(12.51)Minor decrease
Total Current Liabilities - Borrowings$5.215 million$5.708 million8.6% decrease
Total Non-Current Liabilities - Borrowings$4.819 million$0 millionNew borrowing
Related Party Loans$2.969 million$2.856 million4% increase
**Key Observations:** - Revenue increased by 8% year on year, driven by brand sales. - Gross margin improved significantly by 9.4 percentage points due to cost control and operational efficiency. - Loss from ordinary activities after tax decreased by 76.2%, indicating improved financial performance. - Borrowings decreased slightly for current liabilities but increased significantly for non-current liabilities due to new loans. - Related party loans increased marginally. This table provides a concise comparison of key financial metrics and debt levels between the two half-year periods.
RMV logo RMV

Announcement of Non-Discretionary Share Buyback Programme

Rightmove PLC

**Summary**
Rightmove plc, the UKs leading property website, announced a non-discretionary share buyback programme on February 27, 2026. The programme, set to run from March 2 to July 31, 2026, authorizes the purchase of ordinary shares for cancellation, with a maximum aggregate purchase price of £90 million. The buyback will be executed within pre-set parameters, adhering to the companys general authority, EU and UK Market Abuse Regulations, and Listing Rules. UBS AG London Branch has been appointed to manage the programme independently, following irrevocable instructions from Rightmove. The company confirmed it holds no unpublished price-sensitive information at the time of the announcement.
**Key Points**
**Programme Type** Non-discretionary share buyback.
**Duration:** March 22026 – July 312026.
**Maximum Spend** £90 million.
**Manager** UBS AG London Branch.
**Purpose** Purchase and cancellation of ordinary shares.
**Compliance** Adheres to EU/UK regulations and Listing Rules.
BuyBack
PSON logo PSON

Pearson 2025 Preliminary Results

Pearson PLC

**Summary of Pearson 2025 Preliminary Results**
**Financial Highlights and Performance**
**Revenue and Profit Growth**Pearson reported a 4% underlying sales growth to £3,577 million in 2025, with adjusted operating profit rising 6% to £614 million. Adjusted earnings per share increased by 4% to 64.5p.
**Cash Flow**Free cash flow grew by 8% to £527 million, with a strong cash conversion rate of 125%. Operating cash flow remained robust at £571 million.
**Dividends and Share Buybacks**A 5% increase in the full-year dividend to 25.2p per share was announced. A £350 million share buyback program is underway, reducing the share count by 5%.
**Strategic Progress**
**AI Integration**Significant advancements in scaling AI across products and services, improving learner outcomes and educator efficiency. AI is now a foundational capability within Pearson.
**Enterprise Strategy**Secured eight partnerships with industry leaders, including a strategic alliance with Salesforce, to expand into enterprise learning and skills development.
**Acquisitions**Acquired eDynamic Learning, a leading provider of digital Career and Technical Education, for £168 million, enhancing capabilities in early careers and workforce readiness.
**Segment Performance**
**Assessment & Qualifications**4% sales growth, driven by new contracts and digital expansion.
**Virtual Learning**8% sales growth, with strong enrolment increases and AI-driven enhancements.
**Higher Education**2% sales growth, supported by AI tools and Inclusive Access offerings.
**English Language Learning**1% sales growth, with PTE Express and institutional expansions.
**Enterprise Learning & Skills**6% sales growth, led by vocational qualifications and enterprise solutions.
**Outlook for 2026**
**Sales Growth**Mid-single digit underlying sales growth expected.
**Profit Guidance**Adjusted operating profit projected at £640–£685 million, with free cash flow conversion of 90–100%.
**Focus Areas**Continued AI integration, enterprise expansion, and core business strengthening.
**Leadership and Governance**
**Executive Change**: Sally JohnsonGroup CFOwill leave in 2026. Simon Robsoncurrently CFO at Skywill succeed herensuring a smooth transition.
**Conclusion**
Pearson demonstrated strong financial and strategic performance in 2025, driven by AI innovation, enterprise partnerships, and operational efficiency. The company is well-positioned for continued growth in 2026, with a focus on leveraging AI to meet the evolving needs of learners and enterprises.
Here is the HTML table code comparing Pearson's financials and debt year on year:
Metric2025 (£m)2024 (£m)Change
Sales3,5773,552+1% (headline), +4% (underlying)
Adjusted Operating Profit614600+2% (headline), +6% (underlying)
Operating Cash Flow571662-14%
Free Cash Flow527490+8%
Net Debt1,069853+25%
Net Debt / Adjusted EBITDA1.3x1.1xN/A
Adjusted Earnings per Share (pence)64.562.1+4%
Dividend per Share (pence)25.224.0+5%

Key Observations:

  • Sales grew by 1% on a headline basis and 4% on an underlying basis, driven by growth in Assessment & Qualifications, Virtual Learning, and Enterprise Learning & Skills.
  • Adjusted operating profit increased by 2% on a headline basis and 6% on an underlying basis, with margin expansion from 16.9% to 17.2%.
  • Operating cash flow decreased by 14% due to an increase in working capital, while free cash flow increased by 8%.
  • Net debt increased by 25% primarily due to the share buyback program, acquisitions, and dividend payments.
  • Adjusted earnings per share grew by 4%, and the dividend per share increased by 5%.
This table provides a clear comparison of Pearson's key financial metrics and debt position between 2025 and 2024, highlighting both headline and underlying growth rates where applicable.
RAT logo RAT

Rathbones FY2025 Preliminary Results

Rathbone Brothers PLC

**Summary of Rathbones Group PLCs FY2025 Preliminary Results**
**Financial Highlights**
**Profit Before Tax (PBT)** Increased by 53.5% to £152.9 million, driven by synergy delivery and reduced integration costs.
**Underlying PBT** Rose 4.6% to £238.1 million, supported by £76 million in annualized synergy benefits, exceeding the £60 million target.
**Funds Under Management and Administration (FUMA):** Grew 5.9% to £115.6 billion, despite market volatility in the first half.
**Operating Income** Increased 3.1% to £923.3 million, with net interest income rising to £86.7 million due to IW&I client migration.
**Dividend** Total dividend for the year increased 6.5% to 99.0p per share, reflecting confidence in long-term growth.
**Strategic Progress**
**Integration of Investec Wealth & Investment (IW&I):** Successfully completed, with synergy delivery ahead of schedule and integration costs reduced to £39.9 million.
**Share Buyback** Completed a £50 million buyback in February 2026, with an additional £20 million extension announced.
**Operational Efficiency** Progressed towards a 30% underlying operating margin target by Q4 2026, reaching 25.8% in 2025.
**Strategic Priorities**
1. **Client-Centric Focus** Aiming to be the first choice for clients by enhancing investment capabilities, financial planning, and service experience.
2. **Talent Development** Focused on attracting and retaining top talent through a great culture, motivating incentives, and AI-powered tools.
3. **Operational Excellence** Simplifying operations, leveraging data, and consolidating platforms to improve efficiency and scalability.
4. **Brand Reputation** Building a distinctive, trusted brand through leadership, purpose, and effective communication.
**Leadership and Governance**
**CEO Transition** Jonathan Sorrell appointed as Group CEO, bringing fresh perspective and deep experience.
**Board Succession** Planned changes include a new Senior Independent Director and the departure of Sarah Gentleman.
**Outlook**
**Market Position** Competing from a position of strength in a growing market, with significant opportunities ahead.
**Financial Targets** On track to achieve 30% underlying operating margin by Q4 2026, assuming 3% FUMA growth and stable economic conditions.
**Conclusion**
Rathbones Group PLC demonstrated strong financial performance in FY2025, driven by successful integration, synergy realization, and strategic initiatives. The company is well-positioned for future growth, with a clear vision to become the best wealth manager in the UK, supported by a refreshed leadership team and a focus on client, talent, operational, and brand excellence.
Here is a comparison of the financials and debt year on year for Rathbones Group PLC, presented as an HTML table:
Metric20242025Change
Operating Income (£m)895.9923.3+3.1%
Underlying Operating Expenses (£m)(668.3)(685.2)+2.5%
Underlying Profit Before Tax (£m)227.6238.1+4.6%
Profit Before Tax (£m)99.6152.9+53.5%
Earnings Per Share (p)63.0107.9+71.3%
Dividend Per Share (p)93.099.0+6.5%
Funds Under Management and Administration (£bn)109.2115.6+5.9%
Integration Costs (£m)(75.5)(39.9)-47.1%
Net Interest Income (£m)63.986.7+35.7%
Return on Capital Employed (ROCE)4.8%8.3%+73.0%
**Key Observations:** - **Profit Before Tax:** Increased significantly by 53.5% due to synergy delivery, higher average Funds Under Management and Administration (FUMA), and reduced integration costs. - **Earnings Per Share:** Rose by 71.3%, reflecting the improved profitability and share buyback program. - **Dividend Per Share:** Increased by 6.5%, demonstrating the company's commitment to returning value to shareholders. - **Funds Under Management and Administration (FUMA):** Grew by 5.9%, driven by market recovery and successful integration of Investec Wealth & Investment (IW&I). - **Integration Costs:** Decreased by 47.1%, indicating progress in the integration process and realization of synergies. - **Net Interest Income:** Increased by 35.7%, primarily due to the migration of IW&I clients onto the Rathbones banking model and synergy benefits. - **Return on Capital Employed (ROCE):** Improved by 73.0%, reflecting better utilization of capital and increased profitability. This table provides a concise comparison of key financial metrics and debt-related items, highlighting the year-on-year changes and trends for Rathbones Group PLC.
WKS logo WKS

Preliminary Results For Year Ended 31 Dec 2025

Winking Studios Limited

**Summary of Winking Studios Limited Preliminary Results for the Year Ended 31 December 2025**
**Financial Performance**
**Revenue Growth** Winking Studios reported a 42.6% increase in revenue to US$45.5 million in FY2025, driven by the acquisition of Mineloader (US$11.4 million contribution) and organic growth of 8.6%. Excluding Mineloader, underlying revenue growth was 7.0%.
**Gross Profit** Gross profit rose 43.2% to US$13.5 million, with a stable gross margin of 29.8%.
**Adjusted EBITDA** Increased by 13.2% to US$5.4 million, despite higher public listing costs and expanded operational costs post-acquisitions.
**Adjusted Net Profit** Rose to US$3.0 million from US$0.3 million in FY2024, reflecting improved operational efficiency and scale.
**Cash Position** Ended FY2025 with US$28.8 million in cash, cash equivalents, and bond investments, maintaining a debt-free status.
**Strategic Highlights**
**Acquisition of Mineloader** Successfully integrated Mineloader, adding AAA console capabilities and significantly expanding the studio network.
**Launch of Vertic Studios** Established a new high-end art production brand in Southeast Asia, focusing on AAA projects with English-speaking teams.
**Expansion of AAA Titles** Increased the number of AAA titles worked on from 14 in FY2024 to 117 in FY2025, supported by Mineloader and the expanded studio network.
**Headcount Growth** Employee count increased by 68.6% to 1,426, reflecting the addition of Mineloader and continued investment in Southeast Asia.
**Geographic Performance**
**Mainland China and Hong Kong** Remained the largest revenue contributor, increasing 51.1% to US$16.7 million.
**United States** Revenue more than doubled to US$7.3 million, primarily due to Mineloaders contribution.
**Repeat Revenue** Represented 32.8% of total revenue, down from 41.4% in FY2024, due to the larger mix of console projects post-Mineloader acquisition.
**Outlook**
**Revenue Visibility** Indicative artist bookings of at least US$48.6 million over the next 24 months, with approximately US$34.6 million expected to be recognized as revenue in FY2026.
**Market Conditions** Global games market is entering a recovery phase, with outsourcing demand exceeding earlier expectations, though price sensitivity remains.
**Strategic Priorities** Focus on establishing an operational presence in Western markets and pursuing selective M&A opportunities.
**Board Confidence** Supported by favorable market drivers, strong revenue visibility, increased capacity, and a robust balance sheet, the Board is confident in the Groups positioning for FY2026 and its ability to execute its growth strategy.
**CEOs Statement**
Johnny Jan, CEO, highlighted FY2025 as a standout year with strong growth, meaningful scaling, and successful integration of Mineloader. He emphasized the recovery in organic momentum in the second half and the step-change in AAA delivery. Looking ahead, the focus is on executing the next stage of growth, including investing in Southeast Asia and establishing a Western market presence. The CEO expressed confidence in the Groups strategy and ability to deliver sustainable value for shareholders, supported by a strong balance sheet and favorable market conditions.
Here’s an HTML table comparing the financials and debt of Winking Studios Limited for FY2025 and FY2024:
MetricFY2025 (US$ million)FY2024 (US$ million)Change (%)
Revenue45.531.9+42.6%
Gross Profit13.59.5+42.1%
Gross Margin (%)29.7%29.8%+0.1 percentage point
Adjusted EBITDA5.44.8+12.5%
Adjusted EBITDA Margin (%)12.0%15.1%-3.1 percentage points
EBITDA3.42.0+70.0%
Adjusted Net Profit3.03.4-11.8%
Net Profit0.30.5-40.0%
Cash, Cash Equivalents, and Bond Investments28.841.3-30.3%
Debt000%
### Key Highlights: 1. **Revenue Growth**: Revenue increased by 42.6% from FY2024 to FY2025, driven by organic growth and the acquisition of Mineloader. 2. **Gross Profit**: Gross profit rose by 42.1%, in line with revenue growth, while gross margin remained stable. 3. **Adjusted EBITDA**: Adjusted EBITDA grew by 12.5%, though the margin decreased due to higher expenses. 4. **Net Profit**: Net profit declined by 40.0%, primarily due to increased operating costs and non-recurring gains in FY2024. 5. **Cash Position**: Cash and cash equivalents decreased by 30.3% due to the acquisition of Mineloader, but the company remains debt-free. This table provides a clear comparison of key financial metrics and debt position year-on-year.
LDG logo LDG

Portfolio NAV Update

Logistics Development Group PLC

**Summary**
Logistics Development Group PLC (LDG) released its quarterly portfolio update on February 27, 2026, announcing an unaudited estimated net asset value (NAV) per share of 26.7 pence as of December 31, 2025, unchanged from the previous quarter. The NAV was assessed by LDGs investment manager, DBAY, using international valuation guidelines.
**Portfolio Highlights**
1. **Finsbury Food Group Ltd (25.31% stake):**
Generated £445 million in revenue (FY June 2025) from its specialty bakery business.
Acquired Lolas Cupcakes, entering the direct-to-consumer market.
Completed a refinancing in January 2026, returning £11.4 million in capital to LDG, reducing exposure to £2.8 million.
2. **SQLI SA (10.73% stake)**
A pan-European IT services company with revenue of €252 million (FY December 2025).
Outperformed market peers with improved EBITDA margins in FY2025.
Implemented operational improvements and AI-driven initiatives to enhance profitability.
3. **Alliance Pharma plc (24.54% stake)**
Delivered £144 million in revenue (FY December 2025) from consumer healthcare products.
Disposed of small prescription brands, reducing debt and de-risking LDGs investment.
Optimized its China go-to-market strategy with a new distributor for Kelo-Cote.
4. **WS Holdco Limited (42.60% stake, increasing to 51.3% post-investment):**
Acquired WS companies and established WS People Providers for staffing services.
Focused on scaling through complementary acquisitions and improving efficiency.
Received a £10 million investment from LDG in January 2026 to support growth.
**Investment Managers Summary**
LDGs portfolio demonstrated solid growth and profitability in FY2025, despite macro volatility. The companys focus on stable, infrastructure-like sectors (e.g., bakeries, consumer health) and AI-driven cost reductions has proven effective. With a fully invested portfolio, LDG is now concentrating on value creation through operational improvements, overhead optimization, and management strengthening. The performance underscores the success of LDGs disciplined investment approach, emphasizing cash generation and attractive valuations.
Below is the HTML table code comparing the financials and debt (where available) year-on-year for the investments in Logistics Development Group PLC's portfolio, based on the provided text:
CompanyLDG's Economic InterestTotal Investment at Cost (£m)Revenue (Latest Financial Year)Revenue (Previous Year)Debt/Refinancing Details
Finsbury Food Group Ltd25.31%14.2£445m (FY June 2025)N/ARefinanced in Jan 2026; £11.4m return of capital, reducing exposure to £2.8m
SQLI SA10.73%13.3€252m (FY Dec 2025, Unaudited)N/AImproved EBITDA margin in FY2025 vs FY2024
Alliance Pharma plc24.54%39.0£144m (FY Dec 2025, Unaudited)N/ADisposed of prescription brands in Jan 2026; proceeds used to pay down debt
WS Holdco Limited42.60% (increasing to 51.3% post-investment)15.0 (additional £10m reallocated in Jan 2026)N/AN/A£10m investment reallocated from Finsbury's return of capital in Jan 2026
Other Minority Interests2.71%2.3N/AN/AN/A
### Notes: 1. **Revenue Comparison**: The table includes the latest revenue figures for each company. Since the previous year's revenue is not provided in the text, it is marked as "N/A". 2. **Debt/Refinancing**: Details on debt reduction or refinancing activities are included where mentioned in the text. 3. **WS Holdco**: Revenue data is not available, hence marked as "N/A". The investment increase is noted in the debt/refinancing column. 4. **Other Minority Interests**: No specific financial or debt details are provided, hence marked as "N/A". This table provides a clear comparison of key financials and debt-related activities for each investment in LDG's portfolio.
BBOX logo BBOX

Results for the year ended 31 December 2025

Tritax Big Box REIT plc

**Summary**
Tritax Big Box REIT plc, a UK-based real estate investment trust, announced its final results for the year ended December 31, 2025, highlighting strong momentum across its growth drivers. The company reported record rental reversion, growing logistics development momentum, and data centers primed for launch. Key financial highlights include a 10.6% increase in net rental income to £305.3 million, a 6.1% rise in operating profit to £281.6 million, and an 11.0% growth in adjusted earnings to £223.8 million. The company also declared a dividend per share of 8.00p, up 4.4% from the previous year.
**Key Points**
1. **Financial Performance**
Net rental income increased by 10.6% to £305.3 million, driven by the full contribution from the UKCM acquisition and asset management initiatives.
Operating profit rose by 6.1% to £281.6 million, and adjusted earnings grew by 11.0% to £223.8 million.
Adjusted earnings per share (excluding additional DMA income) increased by 4.1% to 8.38p.
Dividend per share was raised by 4.4% to 8.00p, with a dividend payout ratio of 95%.
2. **Portfolio Growth and Development**
Total portfolio value increased by 20.5% to £7.89 billion, with a stable equivalent yield of 5.7%.
Contracted annual rent roll grew by 15.1% to £360.9 million, and EPRA Net Tangible Assets per share increased by 1.2% to 187.76p.
The company has a strong development pipeline, with 1.8 million sq ft under construction and a potential rental income of £19.6 million, 53% of which is pre-let.
3. **Strategic Initiatives**
Successful integration of the UKCM logistics assets and the Blackstone portfolio acquisition, creating a 20% exposure to urban logistics.
Launch of a data center program with a power-first approach, assembling a high-quality pipeline and making significant progress.
Capital recycling strategy, with £415.5 million of disposals completed or exchanged, allowing reinvestment into higher-returning opportunities.
4. **Balance Sheet and Credit Rating**
Loan-to-value (LTV) ratio increased to 33.2%, within the target range of <mark style="background-color:yellow">below</mark> 35%.
Upgraded credit rating from Moodys to A3 (stable) from Baa1 (positive).
Inclusion in the FTSE 100 index from March 2, 2026.
5. **Outlook and Growth Drivers**
The company aims to capture record rental reversion, develop best-in-class logistics assets, and generate exceptional returns through data center development.
Targeted to achieve 50% growth in adjusted earnings by the end of 2030.
Anticipated acceleration in adjusted EPS growth rate in 2026, driven by asset management opportunities and development progress.
**Conclusion**
Tritax Big Box REIT plc demonstrated robust financial performance and strategic progress in 2025, positioning itself for continued growth in the logistics and data center sectors. With a strong balance sheet, upgraded credit rating, and inclusion in the FTSE 100, the company is well-placed to execute its growth strategy and deliver value to shareholders.
Here is a comparison of the financials and debt year on year for Tritax Big Box REIT PLC, presented as an HTML table:
Metric20242025Change
Net rental income (£m)£276.0£305.310.6%
Operating profit (£m)£265.3£281.66.1%
Adjusted earnings (£m)£201.7£223.811.0%
Adjusted earnings per share (pence)8.05p8.38p4.1%
IFRS earnings per share (pence)19.67p14.39p-26.8%
Dividend per share (pence)7.66p8.00p4.4%
Total Accounting Return (%)9.0%5.5%-3.5pts
Contracted annual rent roll (£m)£313.5£360.915.1%
Portfolio value (£bn)£6.55£7.8920.5%
Loan to value (LTV) (%)28.8%33.2%+4.4pts
**Key Observations:** - **Net rental income** increased by 10.6%, driven by the full contribution from the UKCM acquisition and asset management initiatives. - **Adjusted earnings** grew by 11.0%, reflecting the increase in net rental income and cost-efficient structure. - **IFRS earnings per share** decreased by 26.8%, likely due to non-recurring items or fair value adjustments. - **Portfolio value** increased significantly by 20.5%, primarily due to the acquisition of the Blackstone portfolio. - **Loan to value (LTV)** increased by 4.4pts, reflecting the debt-financed element of the Blackstone acquisition. This table provides a concise comparison of key financial metrics and debt levels for Tritax Big Box REIT PLC between 2024 and 2025.
MRO logo MRO

FINAL RESULTS

Melrose Industries PLC

Melrose Industries PLC, a global aerospace and defense company, reported strong financial results for the year ended December 31, 2025, with revenue growth of 8% to £3.589 billion and adjusted operating profit up 23% to £647 million. The companys performance was driven by increased demand in the Engines and Defence segments, as well as the successful completion of a multi-year transformation program. Key highlights include
Revenue growth of 8% to £3.589 billion, with like-for-like growth of 8%
Adjusted operating profit up 23% to £647 million, with margins improving by 240 basis points to 18.0%
Free cash flow generation of £125 million, a significant improvement from the previous years outflow of £74 million
Completion of a multi-year transformation program, providing a strong foundation for future growth
Strong commercial progress, including key customer contract wins and new partnerships
Quality and productivity gains achieved in a complex operating environment
New share buyback program of £175 million announced
Increase in final dividend to 4.8p, taking the full-year dividend to 7.2p, a 20% increase
The companys Engines segment saw revenue growth of 15% to £1.632 billion, driven by strong performance in both original equipment and aftermarket sales. The Airframes segment, renamed from Structures, saw revenue growth of 3% to £1.957 billion, with strong performance in the Defence sub-segment.
Melroses CEO, Peter Dilnot, expressed confidence in the companys future prospects, stating that the company is well-positioned to benefit from expected production ramp-ups and ongoing aftermarket expansion. The company expects to deliver further growth in revenue, profit, and cash flow in 2026, with a clear path to achieving its 2029 targets.
In terms of financial metricsMelrose reported
Adjusted diluted EPS up 25% to 32.1 pence
Net debt of £1.407 billionwith leverage of 1.8x
Return on capital employed (ROCE) of 18.0%
The companys strong performance and positive outlook were reflected in its share price, which increased by 5% on the day of the announcement. Overall, Melrose Industries PLCs 2025 results demonstrate the companys successful transformation and strong positioning in the aerospace and defense industry, with a clear strategy for future growth and value creation.
Here is the HTML table code comparing the financials and debt year on year for Melrose Industries PLC:
Metric2025 (£m)2024 (£m)Change
Revenue3,5893,4688% increase
Operating Profit64754023% increase
Profit Before Tax51543821% increase
Free Cash Flow125(74)£199m increase
Net Debt1,4071,321£86m increase
Leverage (x)1.81.90.1x decrease
**Key Observations:** - Revenue increased by 8% from £3,468m in 2024 to £3,589m in 2025. - Operating profit increased significantly by 23% from £540m in 2024 to £647m in 2025. - Profit before tax also increased by 21% from £438m in 2024 to £515m in 2025. - Free cash flow turned positive, increasing by £199m from -£74m in 2024 to £125m in 2025. - Net debt increased by £86m from £1,321m in 2024 to £1,407m in 2025. - Leverage decreased slightly from 1.9x in 2024 to 1.8x in 2025. This table provides a concise comparison of key financial metrics and debt levels for Melrose Industries PLC between 2024 and 2025.
SNR logo SNR

Discussions with Potential Offerors;Buyback update

Senior PLC

**Summary**
Senior PLC announced on February 27, 2026, that it is in discussions with multiple potential offerors regarding a possible takeover offer for the entire issued and to-be-issued share capital of the company. The Board has received several all-cash proposals, including two superior offers from different parties, but no firm offer has been made, and there is no certainty that an offer will materialize. The Board has postponed a planned £40 million buyback program due to these ongoing discussions. The company is now in an "offer period" under the City Code on Takeovers and Mergers, triggering specific disclosure requirements for shareholders and interested parties. The announcement also includes regulatory notices, details of financial advisers, and compliance information.
Offers
BLU logo BLU

Final Results

Blue Star Capital plc

**Summary of Blue Star Capital PLCs Final Results for the Year Ended 30 September 2025**
Blue Star Capital PLC, an investing company focused on blockchain and payments, announced its final results for the year ended 30 September 2025. Key highlights include
### **Financial Performance**
**Pre-tax Loss**Reduced to £665,606 from £4,491,966 in the prior year, primarily due to a significantly lower fair value movement on investments (£346,928 vs. £4,312,519 in 2024).
**Net Assets**Increased materially to £2,865,895 (2024: £937,381), driven by new equity capital raised and the increased carrying value of the investment in SatoshiPay Limited.
**Valuation of Investments**Increased to £1,553,643 (2024: £970,394), with the carrying value of the SatoshiPay investment at £1,526,492.
### **Strategic Investments**
**SatoshiPay Limited**Increased exposure through
A €75,000 subscription via a SAFE instrument.
Acquisition of 4,531 shares (22.0% of SatoshiPays issued share capital) in exchange for 4,412,096 new ordinary shares in Blue Star.
A £1000000 secured loan to SatoshiPaywith a fair value gain of £15246 recognized in profit or loss.
**Other Investments**Reduced carrying values of Dynasty Gaming & Media and Paidia Esports Inc. to £13,965 and £13,186, respectively, due to ongoing uncertainty.
### **Capital Activities**
**Share Consolidation and Subdivision**Completed a 200:1 share consolidation and subdivision, facilitating equity fundraisings, including £1.15 million raised in July 2025.
**Cash Position**Improved to £313,236 (2024: £5,828), with prudent cash management and alignment of directors remuneration with long-term shareholder value.
### **Operational Highlights**
**SatoshiPays Vortex Platform**Launched a fiat-to-crypto infrastructure platform, operational in Brazil, Europe, Argentina, and expanding to the US. Achieved over $10 million in transaction volumes in January 2026.
**Nabla.fi**Successfully integrated with DEX aggregators, generating yield on crypto tokens.
### **Outlook**
**Focus on Vortex**The success of Vortex and its impact on SatoshiPays valuation are critical to Blue Stars future. The Board believes its 58% stake in SatoshiPay could provide significant returns.
**Cost Management**Continued focus on eliminating non-essential spending and aligning directors remuneration with equity-linked instruments.
### **Corporate Governance**
**Annual General Meeting (AGM)**Scheduled for 24 March 2026 at Cairn Financial Advisers LLP, London. Shareholders are encouraged to vote via proxy.
### **Chairmans Statement**
Tony Fabrizi, Executive Chairman, emphasized the significant progress made by SatoshiPay, particularly through its Vortex platform, and the potential for substantial returns for Blue Star shareholders. The Board remains confident in SatoshiPays growth prospects despite valuation challenges.
### **Auditors Report**
Adler Shine LLP provided an unqualified opinion, highlighting key audit matters including the valuation of investments and going concern considerations. The Company is reliant on future fundraisings to continue operations, with material uncertainty noted.
### **Financial Statements**
Detailed financial statements, including the Statement of Comprehensive Income, Statement of Financial Position, and Cash Flow Statement, were provided, showing improvements in net assets, cash position, and investment valuations.
### **Post Balance Sheet Events**
Subscribed for additional €250000 in SatoshiPay via SAFE Notes.
Directors awarded warrants as partial remuneration in lieu of salary.
Settled the loan to SatoshiPay with a combination of SAFE Notes and cash repayment, reflecting the decline in the digital asset portfolios value.
Blue Star Capital remains focused on its strategic investments, particularly in SatoshiPay, with a cautious yet optimistic outlook for future growth and shareholder value.
Here is a comparison of Blue Star Capital's financials and debt year-on-year, presented as an HTML table:
Metric20242025Change
Pre-tax Loss (£)4,491,966665,606(85%)
Net Assets (£)937,3812,865,895206%
Cash Position (£)5,828313,2365,271%
Valuation of Investments (£)970,3941,553,64359%
Loan Receivable (£)01,015,246N/A
Administrative Expenses (£)162,309193,25719%
Share-based Payment Charge (£)0126,700N/A
Net Cash from Financing Activities (£)100,0001,585,0001,485%

Debt Comparison

Debt Type2024 (£)2025 (£)Change
Loan to SatoshiPay01,000,000N/A
Loan Repayment (2026)N/A-115,000N/A
SAFE Agreements (2026)N/A658,634N/A

Notes:

  • The loan to SatoshiPay was advanced in 2025 and partially repaid in 2026, with the remaining balance converted into SAFE agreements.
  • The SAFE agreements are not considered debt but rather a form of equity investment, as they provide downside protection and a valuation cap.
  • The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
**Key Takeaways:** * Blue Star Capital significantly reduced its pre-tax loss from £4.49 million in 2024 to £0.67 million in 2025, primarily due to lower fair value movements on investments. * Net assets and cash position increased substantially in 2025, driven by new equity capital raised and increased carrying value of investments. * The company advanced a £1 million loan to SatoshiPay in 2025, which was partially repaid in 2026, with the remaining balance converted into SAFE agreements. * Administrative expenses and share-based payment charges increased in 2025, reflecting higher professional costs and transaction activity. * The company's overall debt position decreased in 2026 due to the loan repayment and conversion into SAFE agreements.
ARK logo ARK

Warrants Exercise & Website Launch

Arkle Resources PLC

**Summary**
Arkle Resources PLC (AIMARK), a multi-commodity exploration company focused on energy metals (uranium, lithium, zinc), announced the issuance of 10,000,000 new ordinary shares at 0.35 pence per share following the exercise of warrants, raising GBP 35,000. Post-admission of these shares on AIM (expected around March 4, 2026), the company’s total issued shares and voting rights will increase to 1,478,977,664. Arkle also launched a new website (www.arkleresources.com) reflecting its forward strategy and plans to release an updated investor presentation and host a webinar soon. The company highlighted its recent transformative acquisition of Namibia Uranium, which positions it as a leading explorer in energy metals, with projects in Namibia, Botswana, and Ireland.
**Key Points**
1. **Warrant Exercise:** 10000000 new shares issued at 0.35 penceraising GBP 35000.
2. **Total Shares Post-Admission** 1,478,977,664 ordinary shares.
3. **Website Launch** New website reflects updated strategy and includes project maps.
4. **Strategic Repositioning** Recent Namibia Uranium acquisition enhances Arkle’s focus on energy metals exploration.
5. **Upcoming Activities** Investor presentation and webinar planned for near future.
Launch
JUST logo JUST

Results for the year ended 31 December 2025

Just Group plc

**Summary of Just Group PLCs Final Results for the Year Ended 31 December 2025**
Just Group PLC reported its financial results for the year ended 31 December 2025, highlighting a year of strategic execution, disciplined pricing, and preparation for future growth amidst a competitive market. The company announced a proposed combination with Brookfield Wealth Solutions Ltd (BWS), expected to complete in the first half of 2026, which is seen as a significant opportunity for customers, shareholders, and colleagues.
**Financial Highlights**
**Underlying Operating Profit** Decreased by 39% to £305 million, primarily due to lower new business margins on reduced sales, partially offset by higher recurring in-force profit.
**Retirement Income Sales** Fell by 18% to £4.3 billion, with a strong growth in Guaranteed Income for Life (GIfL) sales partially offsetting a decline in Defined Benefit (DB) sales.
**GIfL Sales** Increased by 23% to £1.3 billion, reflecting improvements in the advisor proposition.
**DB Sales** Decreased by 28% to £3.1 billion, due to fewer medium-sized transactions in a competitive market.
**New Business Margins** Lower at 5.7%, impacted by increased competition, tighter spreads, lower volumes, and business mix.
**Solvency II Capital Coverage Ratio** Remained robust at 179%, despite a fall from the previous years 204%, due to new business growth and non-operating items.
**IFRS Performance** Tangible net assets increased to £2.7 billion, and adjusted profit before tax was £120 million, leading to an IFRS loss before tax of £(118) million.
**Strategic Developments**
**Proactive Capital Management** Just Group deliberately reduced volume in the DB market to manage capital resources and maintain pricing discipline.
**Market Outlook** Anticipates a rebound in the DB market in 2026, driven by renewed demand and a strong pipeline. The retail guaranteed income market is also expected to offer significant long-term growth potential.
**Sustainability** Achieved net zero emissions in its own operations (Scope 1 and 2) by 2025 and is on track to reduce Scope 3 emissions by 50% by 2030.
**Operational Excellence**
**DB Transactions** Completed a record 130 transactions, maintaining its position as the number one DB provider by deal number.
**Retail Business Growth** GIfL sales grew by 23%, benefiting from an improved advisor proposition and strong market demand.
**Future Prospects**
**Combination with BWS** Expected to enhance Just Groups reach, offering, and investment capabilities, positioning the company for continued growth and value creation.
**Market Opportunities** Well-positioned to capitalize on the DB market rebound and the long-term growth potential of the retail guaranteed income market.
In conclusion, Just Group PLCs 2025 results reflect a year of strategic discipline and preparation for future growth, with the proposed combination with BWS marking a significant step towards enhancing its market position and value proposition.
Here is the HTML table code comparing the financials and debt year on year for Just Group PLC:
RMV logo RMV

Annual Financial Report

Rightmove PLC

**Summary of Rightmove Plcs Annual Financial Report (2025)**
Rightmove Plc, the UKs leading property portal, reported strong financial and operational performance for the year ended 31 December 2025, highlighting accelerated innovation and clear value recognition from partners and consumers.
**Key Financial Highlights**
**Revenue and Profit Growth** Revenue increased by 9% to £425.1 million, with underlying operating profit up 9% to £297.7 million. Operating profit rose 12% to £287.9 million.
**Strategic Growth Areas** Combined revenue from Commercial Property, Mortgages, and Rental Services grew by 25% to £29.1 million.
**Earnings Per Share (EPS)** Basic EPS increased by 15% to 28.1p, and underlying EPS grew by 11% to 29.1p.
**Dividends and Share Buybacks** A final dividend of 6.59p per share (up 8%) was announced, with a total dividend of 10.64p. A £90 million share buyback program was also initiated, to be completed by 31 July 2026.
**Operational Achievements**
**Partner Engagement** Agency membership grew by 2%, with the second-highest retention rate in over 10 years. New AI-enabled products like Online Agent Valuation saw rapid adoption.
**Consumer Engagement** Record time spent on Rightmove (89% Comscore
75% SimilarWeb/data.ai/Sensor Tower) with over 85% of traffic direct and organic. AI-powered features enhanced user experience.
**Technology Innovation** Launched 24% more products/features, including conversational search and AI-driven tools, supported by a multi-year collaboration with Google Cloud.
**Market Trends and Outlook**
**Property Market** Supportive conditions with falling interest rates and mortgage costs. Sales transactions increased by 10% to 1.2 million, while rental demand remained strong.
**2026 Guidance** Revenue growth of 8-10% is expected, with strategic growth areas projected to grow by 20-30%. Underlying operating profit margin is forecast at 67% due to increased investment in innovation.
**Strategic Focus**
Rightmove is accelerating investment in AI-powered operations, consumer and partner innovation, and new growth initiatives to sustain double-digit growth. The company aims to deepen its role in digitizing the UK property market ecosystem, enhancing value for all stakeholders.
**Leadership and Sustainability**
CEO Johan Svanstrom emphasized Rightmoves commitment to innovation, sustainability, and community support, while Chair Andrew Fisher highlighted the companys resilience and strategic focus on long-term growth.
**Conclusion**
Rightmove Plc demonstrated robust financial performance, strategic innovation, and strong market positioning in 2025, setting a positive trajectory for continued growth and value creation in 2026 and beyond.
Here is the HTML table code comparing the financials and debt year on year for Rightmove Plc based on the provided text:
Metric20242025Change
Underlying operating profit (£m)504305(39%)
Retirement Income sales (£bn)5.34.3(18%)
New business profit (£m)460249(46%)
New business margin (%)8.7%5.7%(34%)
Solvency II capital coverage ratio (%)204%179%(12%)
Tangible net assets (£bn)2.62.74%
Cash generation (£m)1191309%
New business strain (% of premium)1.3%2.7%115%
Metric20252024Change% Change
Revenue£425.1m£389.9m£35.2m+9%
Operating Profit£287.9m£256.3m£31.6m+12%
Underlying Operating Profit£297.7m£273.9m£23.8m+9%
Final Dividend per Share6.59p6.10p0.49p+8%
Basic Earnings per Share28.1p24.4p3.7p+15%
Underlying Basic Earnings per Share29.1p26.2p2.9p+11%
Total Debt (not explicitly mentioned, but cash position is provided)£0 (debt-free)£0 (debt-free)£00%
Cash and Money Market Deposits£42.9m£41.3m£1.6m+4%
**Notes:** - The table includes the key financial metrics mentioned in the text, comparing 2025 and 2024. - Since the text does not explicitly mention debt, it is assumed that Rightmove Plc is debt-free based on the statement "Throughout the period, the Group was debt-free". - The cash position is included to provide insight into the company's liquidity. - All values are in GBP (£) and percentages are calculated based on the provided data.
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New $20.5m Systems Contract

SRT Marine Systems plc

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VOX logo VOX

Half-year Financial Report

Vox Valor Capital Ltd.

**Summary of Vox Valor Capital Limiteds Half-Year Financial Report (February 2026)**
**Overview**
Vox Valor Capital Limited (LSEVOX) released its unaudited interim financial statements for the six months ended 30 November 2025. The Group operates in mobile marketing and advertising through its subsidiaries: Mobio Global Limited (UK), Mobio Singapore Pte Ltd, and Mobio Global Inc. (US). The Group employs 30 contractors and employees across its subsidiaries.
**Financial Highlights**
**Revenue**USD 5.2 million (H1 2024: USD 6.2 million). The decline reflects a strategic shift to prioritize the US market, leading to reduced focus on lower-margin activities in the UK.
**Revenue Breakdown**
Mobio SingaporeUSD 3.2 million (H1 2024: USD 3.6 million).
Mobio Global USUSD 1.1 million (H1 2024: USD 0.6 million), showing significant growth due to increased investment.
Mobio Global UKUSD 0.9 million (H1 2024: USD 2.0 million), reflecting a strategic reduction in lower-margin activities.
**Operating Expenses**USD 4.6 million (H1 2024: USD 5.9 million), primarily due to cost management and reduced UK operations.
**Operating Profit (Loss)**USD 0.094 million (H1 2024: Loss of USD 0.255 million).
**Net Profit (Loss)**USD 0.004 million (H1 2024: Loss of USD 0.610 million).
**Strategic Focus**
The Group is prioritizing the US market, its largest addressable market, leading to increased investment in Mobio Global US.
Reduced emphasis on lower-margin activities in the UK, resulting in lower revenue and operating expenses in that region.
**Outlook**
The Board is cautiously optimistic about continued revenue growth and expense control despite inflationary pressures.
Evaluating acquisition and partnership opportunities in the mobile marketing and advertising sector, including Web3 and blockchain.
**Financial Position**
**Cash Balances**: USD 65000 as of 30 November 2025.
**Total Assets**USD 14.6 million.
**Total Equity**USD 8.6 million.
**Total Liabilities**USD 5.9 million, including long-term loans of USD 3.4 million.
**Risks and Uncertainties**
Principal risks remain unchanged from the annual report for the year ended 31 May 2025.
Exposure to foreign currency riskcredit riskand liquidity risk.
Monitoring geopolitical risks, including the impact of the Russia-Ukraine conflict.
**Corporate Governance**
DirectorsJohn G Booth (Chairman), Rumit Shah (Non-Executive Director), and Konstantin Khomyakov (Finance Director until 23 December 2025).
The Board confirmed the financial statements give a true and fair view of the Groups financial position.
**Conclusion**
Vox Valor Capital Limited is strategically refocusing on the US market, leading to revenue growth in the US but overall revenue decline. The Group is managing costs effectively and remains optimistic about future growth, while actively exploring expansion opportunities in the mobile marketing sector.
Here is the HTML table code comparing the financials and debt year on year for Vox Valor Capital Limited:
Financial MetricPeriod Ended 30 Nov 2025 (USD)Period Ended 30 Nov 2024 (USD)Change
Revenue5,170,7516,207,479(1,036,728)
Operating Expenses4,552,6935,850,502(1,297,809)
Operating Profit (Loss)94,211(254,613)348,824
Net Non-Operating Result431,9041,644430,260
Net Financial Result(449,616)(363,101)(86,515)
Profit (Loss) Before Tax76,499(616,070)692,569
Profit/(Loss) For The Period3,921(610,011)613,932
Total Comprehensive Income/(Loss)(214,106)(527,075)312,969
Cash and Cash Equivalents64,80953,23511,574
Total Debt (Long-term + Short-term)3,454,1433,247,952206,191

Debt Breakdown:

Debt Type30 Nov 2025 (USD)31 May 2025 (USD)Change
Long-term Debt3,421,3763,217,313204,063
Short-term Debt32,76730,6392,128

Notes:

  • Revenue decreased by USD 1,036,728, primarily due to a shift in focus towards the US market and reduced emphasis on lower-margin activities in the UK.
  • Operating expenses decreased by USD 1,297,809, mainly due to cost management and repositioning of the operating model.
  • Total debt increased by USD 206,191, with long-term debt increasing by USD 204,063 and short-term debt increasing by USD 2,128.
This HTML code creates two tables: 1. The first table compares key financial metrics year on year, including revenue, operating expenses, profits, and cash balances. 2. The second table breaks down the debt into long-term and short-term components, showing the changes between the two periods. The notes below the tables provide additional context for the changes in revenue, operating expenses, and debt.
REE logo REE

USTDA Grant Agreement for Monte Muambe Signed

Altona Rare Earths PLC

**Summary**
Altona Rare Earths PLC, a London-listed exploration and development company focused on critical raw materials in Africa, has signed a significant grant agreement with the United States Trade and Development Agency (USTDA) for its Monte Muambe rare earths project in Mozambique. The USTDA will provide a $1.875 million grant to fund the metallurgy and process engineering components of the projects prefeasibility study. This includes drilling, metallurgical <mark style="background-color:yellow">test</mark>ing, environmental and commercial studies, engagement with potential US off-take partners, and financial modeling. The partnership strengthens US supply chain security for critical minerals while supporting Mozambiques goal of becoming a major player in the global critical minerals market.
Key highlights
**Grant Agreement**USTDA provides $1.875 million for Monte Muambe rare earths project prefeasibility study.
**Strategic Partnership**Collaboration with US Government advances Altonas ambition to become a major Western source of magnet rare earths.
**Project Scope**Funding covers drilling, metallurgical testing, environmental studies, and engagement with US off-take partners.
**Critical Minerals Focus**Rare earths are essential for defense, technology, and clean energy applications.
**Company Portfolio**Altonas diversified strategy includes fluorspar, gallium, and copper-silver projects across Africa.
This agreement marks a transformative step for Altona, aligning with US strategic priorities and positioning the company for long-term growth in the critical raw materials sector.
Agreement
MDZ logo MDZ

Final Results

MediaZest plc

**MediaZest Plc Annual Financial Report Summary (FY25)**
**Financial Highlights**
**Revenue Growth** Increased by 35% to £4.154 million (FY24: £3.074 million).
**Gross Profit** Rose 47% to £2.346 million (FY24: £1.595 million), with a gross margin improvement to 56% (FY24: 52%).
**EBITDA:** Surged to £331000 (FY24: £14000).
**Profit After Tax** Returned to profitability at £98,000 (FY24: £214,000 loss).
**Earnings per Share** Improved to 0.0058 pence (FY24: 0.0133 pence loss).
**Cash Position** Strengthened to £99,000 (FY24: £64,000).
**Operational Highlights**
Delivered strong performance in the last four months of FY25, with significant projects for clients like First Rate, Pets at Home, Lululemon Athletica, Arcteryx, Kia, Hyundai, and Duty Free.
Signed a major contract with First Rate for digital currency board installations across 1,200 UK locations.
Continued expansion in Europe with projects for Lululemon Athletica and Arcteryx.
Appointed Keith Edelman as new Chairman in June 2025.
**Post Year-End Highlights**
**Debt Restructuring** Successfully restructured debt, writing off £529,000 in interest and repaying £785,609 over six years.
**Fundraising** Raised £215,000 through equity issuance, with Dr Graham Cooley as a new significant shareholder.
**Outlook**
Strong demand across retail, automotive, and corporate sectors, with FY26 targeting revenue of £5 million and profit after tax exceeding £250,000.
Focus on long-term recurring revenue contracts and potential M&A opportunities to enhance growth.
**Key Financial Metrics (FY25 vs FY24)**
**Metric**
**FY25 (£’000)**
**FY24 (£’000)**
Revenue
4154
3074
Gross Profit
2346
1595
EBITDA
331
14
Profit After Tax
98
(214)
Cash
99
64
**Conclusion**
MediaZest Plc demonstrated significant financial and operational improvement in FY25, returning to profitability and strengthening its balance sheet. With a robust pipeline of projects and strategic initiatives, the company is well-positioned for continued growth in FY26.
Below is the HTML table code comparing the financials and debt year on year for MediaZest Plc based on the provided text: < lang="en">MediaZest Plc Financials and Debt Comparison

MediaZest Plc Financials and Debt Comparison (FY25 vs FY24)

MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue4,1543,0741,08035%
Gross Profit2,3461,59575147%
EBITDA331143172,264%
Profit after Tax98(214)312-146%
Cash99643555%
Debt Principal (Post Restructuring)785.61,283(497.4)-39%
Interest Written Off529-529N/A
### Explanation: 1. **Revenue**: Increased by £1,080,000 (35%) from FY24 to FY25. 2. **Gross Profit**: Increased by £751,000 (47%) from FY24 to FY25. 3. **EBITDA**: Increased significantly by £317,000 (2,264%) from FY24 to FY25. 4. **Profit after Tax**: Improved by £312,000, turning from a loss of £214,000 in FY24 to a profit of £98,000 in FY25. 5. **Cash**: Increased by £35,000 (55%) from FY24 to FY25. 6. **Debt Principal**: Reduced by £497,400 (39%) post-restructuring in FY25 compared to FY24. 7. **Interest Written Off**: £529,000 was written off in FY25 as part of the debt restructuring. This table provides a clear comparison of key financial metrics and debt restructuring details between FY25 and FY24.
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Market AI · 2026-02-27

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