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All Market News Today All digested RNS titles 427
IGET logo
All News 15:44
IGET

Issue of Equity

Invesco Perpetual Select Trust plc - Global Equity Income Share Portfolio

WKP logo
All News 15:36
WKP

Holding(s) in Company

Workspace Group PLC

TR1 Buy
['Bank of America Corporation', '0.000000', '0.000000']
IHP logo
All News 15:14
IHP

Director/PDMR Shareholding

IntegraFin Holdings plc

1. <mark style="background-coloryellow">Purchase</mark> of Partnership Shares by the Trustee of the IntegraFin Share Incentive Plan 2018.
TIR logo
All News 14:49
TIR

Holding(s) in Company

Tiger Royalties and investments Plc

TR1 Buy
['Spreadex LTD', '7.020400', '5.140900']
BRIG logo
All News 14:29
BRIG

Portfolio Update

BlackRock Income and Growth Investment Trust plc

**SummaryBlackRock Income & Growth Investment Trust PLC Portfolio Update (February 24, 2026)**
BlackRock Income & Growth Investment Trust PLC released its unaudited portfolio update as of January 31, 2025, highlighting strong performance across various timeframes. The trust’s share price and net asset value (NAV) outperformed the FTSE All-Share Total Return Index over one, three, and five years, with gains of 19.2% and 13.7% (NAV) in the past year, respectively. Since BlackRock took over management in April 2012, the trust has delivered 183.8% (share price) and 186.6% (NAV) returns.
**Key Metrics (as of January 312025):**
**Net Asset Value (NAV)** 253.56p (capital only), 259.61p (cum income).
**Share Price** 230.00p, trading at an 11.4% discount to cum-income NAV.
**Total Assets** £54.7 million.
**Gearing:** 4.0%within the 0-20% range.
**Net Yield** 3.3%, including the 2025 final dividend of 5.00p per share.
**Ongoing Charges** Capped at 1.15%.
**Sector and Country Allocation**
The portfolio is heavily weighted towards UK equities (89.8%), with top sectors including Banks (13.0%), Pharmaceuticals & Biotechnology (8.7%), and Non-equity Investment Instruments (6.9%). Top holdings include AstraZeneca (7.6%), Standard Chartered (4.5%), and Lloyds Banking Group (4.5%).
**Performance Drivers**
**Positive Contributors** Holdings in Ashmore, Great Portland Estates, and Oxford Instruments boosted performance, driven by strong inflows, leasing updates, and trading performance.
**Negative Contributors** Overweight positions in RELX (AI disruption concerns) and ICG (valuation headwinds), as well as the absence of Glencore (merger speculation and strong production results), detracted from returns.
**Portfolio Changes**
**New Positions** Cranswick (UK food producer) and Eaton (US industrial electrification equipment provider) were added for their growth potential.
**Sales/Trims** Compass was sold due to low yield, and BAE Systems was trimmed in favor of Babcock.
**Market Outlook**
The trust anticipates continued volatility driven by geopolitical uncertainty, interest rate expectations, and thematic trends in AI, defense, and financials. Despite challenges, opportunities are emerging in undervalued UK equities, resilient growth stories, and turnaround cases. BlackRock remains focused on cash-generative businesses with competitive advantages to deliver long-term returns.
**Conclusion**
BlackRock Income & Growth Investment Trust PLC demonstrated robust performance, strategic portfolio adjustments, and a cautious yet opportunistic outlook, positioning itself to navigate market volatility and capitalize on emerging opportunities.
Below is the HTML table code comparing the financials and debt (gearing) year-on-year based on the provided text. Since the text only provides data for a single year (as of January 2025), I’ve structured the table to reflect the available information and left the previous year’s column empty for clarity.
MetricAs of January 2024 (Not Available)As of January 2025
Net Asset Value (Capital Only)253.56p
Net Asset Value (Cum Income)259.61p
Share Price230.00p
Total Assets (Including Income)£54.7m
Discount to Cum-Income NAV11.4%
Gearing4.0%
Net Yield3.3%
Ordinary Shares in Issue18,753,794
Gearing Range (as a % of Net Assets)0-20%
Ongoing Charges1.15%
### Notes: 1. **Year-on-Year Comparison**: Since the text only provides data for January 2025, the table includes a placeholder for January 2024 data, which is not available. 2. **Metrics**: The table includes key financials such as Net Asset Value, Share Price, Total Assets, Gearing, and Ongoing Charges. 3. **Gearing**: Gearing is the only debt-related metric provided in the text, reflecting the level of borrowing relative to net assets. If historical data becomes available, the table can be updated accordingly.
IPF logo
All News 14:26
IPF

Form 8.3

International Personal Finance PLC

ADF logo
All News 14:00
ADF

Director Dealing

Facilities By ADF PLC

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
ATR logo
All News 13:52
ATR

Director Declaration

Schroders Investment Trusts - Schroder Asian Total Return Investment Company plc

AHT logo
All News 13:19
AHT

Court Approval Of The Scheme Of Arrangement

Ashtead Group PLC

**Summary**
Ashtead Group PLC announced on February 24, 2026, that the Court has approved the Scheme of Arrangement, a plan to establish Sunbelt Rentals Holdings, Inc., a new Delaware corporation, as the holding company of the Ashtead group. This move is part of the companys proposed new U.S. primary listing. The Scheme, initially proposed in February 2025 and approved by shareholders in June 2025, is conditional on the Court Order being delivered to the Registrar of Companies by February 27, 2026.
Key upcoming events include
Publication of the U.K. Prospectus on February 25, 2026.
Last day of dealings in Ashtead shares on February 27, 2026.
Scheme Effective Time at 1000 p.m. UK time on February 27, 2026.
De-listing of Ashtead shares and listing of Sunbelt Rentals shares on March 2, 2026, on both the London and New York stock exchanges.
Dispatch of statements of entitlement and DRS advice, as well as any cash due to shareholders, within 14 days after the New York Listing Effective Time.
The company will provide updates if any key dates change and will make a further announcement once the Scheme becomes effective. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are provided for enquiries.
Approvals
IPF logo
All News 12:36
IPF

Form 8.3

International Personal Finance PLC

EMVC logo
All News 11:39
EMVC

TR-1

EMV Capital plc

TR1 Buy
FERG logo
All News 10:46
FERG

Ferguson Reports Strong Calendar 2025 Results and Issues 2026 Guidance

Ferguson Plc

**Summary of Ferguson Enterprises Inc.s 2025 Financial Results and 2026 Guidance**
Ferguson Enterprises Inc. reported strong financial results for the calendar year 2025, highlighting robust growth, improved margins, and strategic investments. Key highlights include
**Revenue Growth**Sales increased by 5.0% to $31.3 billion, driven by organic growth of 4.5% and acquisition growth of 1.0%.
**Margin Expansion**Gross margin improved to 31.0%, up 70 basis points, while operating margin rose to 8.9%, up 40 basis points. Adjusted operating margin was 9.6%, up 50 basis points.
**Earnings Growth**Diluted earnings per share (EPS) increased by 24.2% to $10.16, with adjusted EPS up 13.4% to $10.58.
**Cash Generation**Operating cash flow was strong at $2.2 billion.
**Dividends and Share Repurchases**Declared dividends of $3.38 per share and repurchased $0.9 billion in shares, with $0.6 billion remaining under the current repurchase program.
**Acquisitions**Invested $276 million in eight acquisitions, adding annualized revenue of over $300 million.
**Balance Sheet Strength**Net debt to adjusted EBITDA ratio remained healthy at 1.1x.
**2026 Guidance**
**Net Sales**Low to mid-single digit growth.
**Adjusted Operating Margin**9.4% to 9.8%.
**Interest Expense**Approximately $200 million.
**Capital Expenditures**$350 to $400 million.
**Adjusted Effective Tax Rate**Around 26%.
**Strategic Focus**
Ferguson continues to focus on organic growth, strategic acquisitions, and returning capital to shareholders. The company is well-positioned to capitalize on long-term growth drivers in both residential and non-residential markets, particularly in water infrastructure, large capital projects, and climate & comfort solutions.
**Leadership Changes**
Brian Lantz, Vice President of Investor Relations and Communications, will retire on May 1, 2026. Pete Kennedy has been promoted to Vice President of Investor Relations, and Christine Dwyer to Vice President of Communications and Public Relations.
**Conclusion**
Ferguson delivered a strong performance in 2025, with continued market share gains and operational efficiency. The company remains optimistic about its growth prospects in 2026, supported by its scale-advantaged business model and strategic investments.
Here’s an HTML table comparing the year-on-year financials and debt for Ferguson Enterprises Inc. based on the provided text:
Metric2024 (in millions)2025 (in millions)Change
Net Sales$29,818$31,316+5.0%
Gross Margin30.3%31.0%+70 bps
Operating Profit$2,528$2,789+10.3%
Operating Margin8.5%8.9%+40 bps
Diluted Earnings per Share$8.18$10.16+24.2%
Adjusted EBITDA$2,905$3,243+11.6%
Net Debt: Adjusted EBITDA1.2x1.1x-0.1x
Capital Expenditures$328$354+7.9%
Dividends Paid$637$656+3.0%
Share Repurchases$893$902+1.0%
### Key Highlights: - **Net Sales**: Increased by 5.0% from $29.8 billion in 2024 to $31.3 billion in 2025. - **Gross Margin**: Improved by 70 basis points from 30.3% to 31.0%. - **Operating Profit**: Rose by 10.3% from $2.5 billion to $2.8 billion. - **Diluted Earnings per Share**: Surged by 24.2% from $8.18 to $10.16. - **Net Debt to Adjusted EBITDA**: Improved from 1.2x to 1.1x, indicating a stronger balance sheet. - **Capital Expenditures**: Increased by 7.9% from $328 million to $354 million. - **Dividends and Share Repurchases**: Both increased slightly, reflecting continued shareholder returns. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025 for Ferguson Enterprises Inc.
FDR logo
All News 10:11
FDR

Holding(s) in Company

First Development Resources Plc

TR1 Buy
['First Equity Limited', '4.849390', '3.448455']
CGEO logo
All News 06:11
CGEO

Commencement of US$ 50 million buyback programme

Georgia Capital PLC

**Summary**
Georgia Capital PLC announced the commencement of a US$ 50 million share buyback and cancellation programme on February 24, 2026. The programme, approved by the board of directors, will run for nine months, with shares purchased on the open market and treasury shares cancelled monthly. The primary goal is to reduce share capital, with the maximum price per share not exceeding the la<mark style="background-color:yellow">test</mark> reported NAV per share. The programme is authorized to repurchase up to 3,150,275 shares, as approved by shareholders at the 2025 AGM, and complies with FCA Listing Rules and EU Market Abuse Regulations. Numis Securities Limited has been appointed to manage the irrevocable, non-discretionary buyback programme. Further announcements will be made following share repurchases. Georgia Capital focuses on investing in and developing businesses in Georgia, with holdings in retail, insurance, healthcare, and a significant stake in Lion Finance Group PLC. The company holds a BB- credit rating from S&P Global.
BuyBack
MCB logo
All News 06:06
MCB

Interim results for 6M ended 31 December 2025

McBride plc

**Summary of McBride PLC Interim Results for 6M Ended 31 December 2025**
**Financial Performance**
**Revenue**£475.2 million, up 0.8% year-on-year (down 2.1% on a constant currency basis), driven by volume growth in private label and contract manufacturing.
**Adjusted Operating Profit**£31.5 million, slightly down from £32.0 million in 2024, with margins maintained at 6.6%.
**Adjusted EBITDA**£41.8 million, stable at 8.8% of revenue, reflecting operational efficiency and cost control.
**Profit Before Taxation**£23.0 million, down from £25.7 million in 2024, impacted by exceptional items.
**Adjusted Basic EPS**10.8p, down from 11.9p in 2024, due to one-off tax effects in the prior year.
**Net Debt**£120.6 million, up slightly from £117.6 million, despite £12.9 million in shareholder returns (dividends, share buybacks, and Employee Benefit Trust purchases).
**Operational Highlights**
**Volume Growth**Overall volumes up 0.4%, with private label volumes increasing by 0.9% and contract manufacturing volumes by 1.4%.
**SAP S/4HANA Implementation**Successful launch of Wave 1 in the UK, with the next wave expected across European sites in the next financial year.
**Transformation Agenda**On track to deliver £50 million in net benefits over five years, with cumulative benefits of £8.7 million as of 31 December 2025.
**Sustainability**Progress on decarbonization, renewable energy adoption, and employee training in climate literacy.
**Strategic Initiatives**
**Shareholder Returns**Reinstated dividends, share buyback program, and EBT purchases to reduce equity dilution.
**Customer Partnerships**Strengthened relationships and secured a healthy pipeline of new contracts for the second half of the year.
**Operational Efficiency**Focus on automation, cost optimization, and productivity improvements across manufacturing sites.
**Outlook**
**Second Half Expectations**In line with expectations, with good momentum driven by new contract wins and market share growth in private label.
**Market Conditions**Private label market share continues to grow, with material costs expected to remain flat and overhead costs under control.
**Full-Year Guidance**On track to meet analysts expectations for adjusted operating profit of £64.7 million.
**Divisional Performance**
**Liquids**Revenue stable at £269.0 million, with adjusted operating profit of £17.7 million (margin 6.6%).
**Unit Dosing**Revenue down 2.0% to £115.7 million, but adjusted operating profit improved to £12.5 million (margin 10.8%).
**Powders**Revenue up 2.0% to £44.9 million, with adjusted operating profit of £3.0 million (margin 6.7%).
**Aerosols**Revenue up 18.1% to £33.9 million, with adjusted operating profit of £2.1 million (margin 6.2%).
**Asia Pacific**Revenue stable at £11.7 million, with adjusted operating profit of £0.5 million (margin 4.3%).
**Conclusion**
McBride PLC delivered a solid first-half performance, maintaining profitability and operational efficiency despite inflationary pressures. The company remains focused on strategic growth, shareholder returns, and sustainability, with a positive outlook for the remainder of the financial year and beyond.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2025 (£m)2024 (£m)Change (£m)Change (%)
Revenue475.2471.43.80.8%
Adjusted Operating Profit31.532.0(0.5)(1.6%)
Operating Profit28.331.0(2.7)(8.7%)
Adjusted EBITDA41.841.70.10.2%
Adjusted Profit Before Taxation26.226.7(0.5)(1.9%)
Profit Before Taxation23.025.7(2.7)(10.5%)
Net Debt120.6117.63.02.6%
**Key Observations:** 1. **Revenue Growth:** Revenue increased slightly by 0.8% from £471.4m in 2024 to £475.2m in 2025. 2. **Profitability:** Adjusted operating profit decreased marginally by 1.6%, while operating profit saw a more significant decline of 8.7%. 3. **EBITDA Stability:** Adjusted EBITDA remained relatively stable, increasing by only 0.2%. 4. **Net Debt Increase:** Net debt increased by £3.0m (2.6%) from £117.6m in 2024 to £120.6m in 2025. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025.
OXB logo
All News 06:04
OXB

Full year Trading Update and Notice of Results

Oxford BioMedica PLC

**Summary**
Oxford Biomedica PLC (OXB) released a full-year trading update for 2025, highlighting strong financial performance and strategic progress. Key points include
1. **Revenue Growth**FY 2025 revenues are expected to reach £166-169 million, a 30% increase from 2024 and nearly 90% growth since 2023, driven by sustained demand for viral vector services and operational efficiency.
2. **EBITDA Profitability**OXB achieved EBITDA profitability in 2025, with mid-to-high single-digit £ million Operating EBITDA, including a non-recurring gain from the Durham, NC acquisition. Underlying EBITDA (excluding the acquisition) is in line with guidance at low single-digit £ million.
3. **Contracted Orders**The contracted value of client orders increased by 20% to £224 million, reflecting strong demand from existing and new clients.
4. **Financial Position**OXB strengthened its balance sheet with a £60 million equity raise and a new $125 million loan facility, supporting capacity expansion and growth initiatives.
5. **Future Outlook**The company reiterated its guidance, expecting FY 2026 revenues of £220-240 million, with 25-30% annual growth in 2027 and 2028. EBITDA margins are projected to exceed 10% in 2026 and reach at least 20% in 2027, with long-term potential to approach 30%.
6. **Preliminary Results**OXB will announce its preliminary results for 2025 on March 26, 2026, with a virtual analyst briefing led by CEO Dr. Frank Mathias.
The update underscores OXBs successful execution of its CDMO strategy, strong commercial momentum, and optimism for continued growth and profitability in the coming years.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricFY 2024FY 2025 (Expected)Change
Revenues (£ million)128.8166-169 (168-171 CC)~30% increase
Operating EBITDA (£ million)(15.3) lossMid-to-high single-digit (CC)Pivot to profitability
Underlying Operating EBITDA (£ million)N/ALow single-digit (CC)N/A
Contracted Value of Client Orders (£ million)18622420% increase
Revenue Backlog (£ million)~150~204~36% increase
Gross Cash Position (£ million)N/A96.9N/A
Net Cash Position (£ million)N/A55.4N/A
Debt (Loan Facility Drawn, $ million)N/A60 (of which $50 million used to repay existing facility)N/A
### Key Notes: 1. **Revenues**: FY 2025 revenues are expected to increase by ~30% compared to FY 2024. 2. **Operating EBITDA**: FY 2025 is expected to pivot to mid-to-high single-digit profitability from a loss in FY 2024. 3. **Contracted Value of Client Orders**: Increased by 20% year-on-year. 4. **Revenue Backlog**: Increased by ~36% year-on-year. 5. **Cash Position**: FY 2025 shows a strengthened balance sheet with gross cash of £96.9 million and net cash of £55.4 million. 6. **Debt**: A new loan facility of $125 million was entered, with $60 million drawn, $50 million of which was used to repay existing debt. This table provides a clear year-on-year comparison of key financials and debt metrics.
UTG logo
All News 06:01
UTG

Results for the year ended 31 December 2025

Unite Group PLC

Unite Group PLC, a leading provider of student accommodation in the UK, reported its final results for the year ended December 31, 2025. The company demonstrated resilience in a challenging market, with strong trading across most of its portfolio, despite weaker demand in some cities. Key highlights include
**Financial Performance**Adjusted earnings increased by 9% to £232.3 million, and adjusted EPS grew by 2% to 47.5p. However, IFRS profit attributable to owners decreased by 78% to £97.6 million due to a valuation decrease in the property portfolio.
**Operational Metrics**Achieved 4.0% rental growth and 95.2% occupancy for the 2025/26 academic year, with 19 out of 22 cities averaging 97% occupancy.
**Strategic Progress**Increased alignment to high-tariff universities to 67%, with a target of 80%. Completed the acquisition of Empirics 7,700-bed portfolio, enhancing the offer to returning students.
**Capital Allocation**Commenced a £100 million share buyback program and disposed of St Pancras Way to USAF for £186 million, demonstrating disciplined capital management.
**Market Trends**Strong demand for higher education in the UK, with a 5% increase in 18-year-old applicants for 2026/27. New PBSA supply remains constrained, and the HMO sector is in decline.
**Future Outlook**Guidance for 2026/27 includes 2-3% rental growth and 93-96% occupancy, with adjusted EPS expected to be 41.5-43.0p, reflecting lower Empiric income and occupancy.
Unite Group is focused on operational excellence, optimal capital allocation, and strengthening university partnerships to drive long-term growth and shareholder value.
Here is the HTML table code comparing the financials and debt year on year for Unite Group PLC:
Metric20252024Change
Adjusted earnings (£m)232.3213.89%
Adjusted EPS (p)47.546.62%
IFRS profit attributable to owners (£m)97.6441.9(78%)
IFRS EPS (diluted) (p)19.996.1(79%)
Dividend per share (p)37.737.31%
EPRA NTA per share (p)955972(2%)
IFRS net assets per share (p)966982(2%)
Net debt: EBITDA6.0x5.5x0.5x
Loan to value27%24%+3ppts
**Notes:** * The table includes key financial metrics such as adjusted earnings, EPS, IFRS profit, dividends, NTA per share, and debt ratios. * The "Change" column shows the percentage change or difference between 2025 and 2024 values. * The table is based on the provided text, which contains Unite Group PLC's financial results for the year ended 31 December 2025, compared to the previous year.
ACRM logo
All News 06:01
ACRM

Contract win

Acuity RM Group Plc

**Summary**
Acuity RM Group PLC, a cybersecurity software provider specializing in the defense sector, announced a contract win to supply services to Sopra Steria, which serves the British government. The contract, valued at £75,000, involves enhancing the Classic STREAM software platform with automations and additional functionality for a highly sensitive cybersecurity program. This upsell builds on a three-year relationship that has already generated over £250,000 in revenue.
The partnership holds strategic significance, as Sopra Steria plans to develop a product based on Classic STREAM to help government and defense clients meet Secure by Design (SbD) cybersecurity requirements. Acuity’s CEO, David Rajakovich, highlighted the potential for material value creation and expressed pride in continuing to serve the UK government’s security needs. While no formal agreement has been finalized, discussions are ongoing, and Acuity anticipates providing further updates. This non-regulatory announcement underscores Acuity’s focus on sustainable growth through organic expansion and strategic partnerships.
NewContract
ZEG logo
All News 06:01
ZEG

Holding(s) in Company

Zegona Communications Plc

TR1 Buy
['Thornburg Investment Management, Inc.', '14.950000', '15.000000']
GWMO logo
All News 06:01
GWMO

Holding(s) in Company

Great Western Mining Corp Plc

TR1 Buy
['Cantor Fitzgerald Europe', '8.350000', '16.680000']
ESYS logo
All News 06:01
ESYS

Recommended Cash Offer

Essensys PLC

**Summary**
Essensys PLC, a provider of software and technology for flexible workspace operators, has received a recommended cash offer from Essensys Bidco Limited ("Bidco"), a newly incorporated company backed by Mark Furness and members of the Concert Party. The offer values Essensys at approximately £11.3 million, with a cash offer of 17 pence per share, representing a premium of 9.7% to the closing price on November 27, 2025.
**Key Points**
**Offer Details** The offer is subject to various conditions, including the acceptance of 90% of Essensys shares. Shareholders can choose between the cash offer or an alternative offer of one New Bidco Share for each Essensys share, which does not carry voting rights.
**Rationale** The offer aims to provide Essensys shareholders with certainty and value, while allowing the company to operate in a private setting, free from short-term public market pressures. This is expected to enable Essensys to focus on long-term strategic goals, customer needs, and product innovation.
**Concert Party** The Concert Party, including Mark Furness, William Currie, Terry Leahy, and others, currently holds 36.55% of Essensys shares. They believe private ownership will benefit Essensys by reducing financial and administrative burdens and improving access to capital.
**Recommendation** The Essensys Independent Directors recommend shareholders accept the cash offer, considering it fair and reasonable. They believe the offer provides a certain exit opportunity and facilitates strategic and operational benefits for stakeholders.
**Financing** The cash offer will be funded through a £10 million secured term loan facility.
**Next Steps** The offer is expected to become unconditional in the second quarter of 2026, after which Essensys will be re-registered as a private limited company and delisted from AIM.
This summary highlights the key aspects of the recommended cash offer for Essensys PLC, emphasizing the offer details, rationale, key players, and expected outcomes.
CashOffer
INV logo
All News 06:01
INV

Proposals for the future of the Company

The Investment Company plc

**Summary**
**Investment Company PLC** announced proposals for its future on February 24, 2026, following a review initiated in December 2025. The key elements of the proposals include
1. **Appointment of a New Portfolio Manager**: Dowgate Wealth Limited will replace Chelverton Asset Management Ltd (CAM) as the portfolio manager, subject to shareholder and regulatory approvals. Dowgate, a boutique wealth manager with £2 billion in assets under management, will lead the Companys portfolio under Jeremy McKeown, supported by their investment team.
2. **New Investment Policy**The Company will adopt a strategy focused on protecting and growing shareholders real purchasing power through a diversified portfolio of scarce, economically resilient assets. This includes foundational reserves, strategic equity participations, and inflation-protected instruments.
3. **Tender Offer**Existing shareholders will have the option to exit their investment at a 5% discount to the net asset value, providing liquidity for those who prefer not to remain invested under the new strategy.
4. **Capital Raise**The Company plans to raise new capital through a placing, offer for subscription, or a matched bargain facility to ensure sufficient scale for the new strategy.
5. **Conditions and Approvals**Implementation of the proposals is contingent on shareholder, regulatory, and court approvals, as well as successful capital raising. A circular with further details will be published, and the process is expected to complete in the second quarter of 2026.
The Board, led by Chairman Ian Dighe, expressed confidence in the proposals, emphasizing the Companys long heritage since 1868 and the need for a modern strategy. Dowgates Ben McKeown highlighted their expertise and commitment to revitalizing the Company for future growth. The proposals are inter-conditional, meaning they will only proceed if implemented in full.
Proposals
BRK logo
All News 06:01
BRK

Half-year Financial Report

Brooks Macdonald Group

**Summary of Brooks Macdonald Group PLCs Half-Year Financial Report (H1 2026)**
Brooks Macdonald Group PLC reported its half-year results for the six months ending 31 December 2025, highlighting strong momentum and strategic progress. Key financial and operational highlights include
### **Financial Highlights**
**Total Funds Under Management and Advice (FUMA):** Increased by 5% to £20.1 billion, driven by market and investment performance.
**Net Inflows** Positive net inflows of £2 million, the first half-year of positive flows since H2 2023.
**Revenue** Grew by 12% to £58.2 million, supported by higher financial planning and fee income.
**Underlying Profit Before Tax (PBT)** £13.6 million, with a margin of 23.4%.
**Statutory PBT:** £6.2 millionreflecting higher organic investmentM&Aand integration costs.
**Interim Dividend** Recommended at 31.0 pence per share, up 3%.
### **Strategic and Operational Highlights**
**Reignite Growth Strategy** Progress across all three strategic priorities, including investments in digital capability, AI, and product innovation.
**Brooks Financial Integration** Completed integration, achieving £1 million in annualised cost synergies and 98% client retention.
**Client Experience Enhancements** Launched a mobile app and improved onboarding through digitisation.
**AI Deployment** Reduced administrative burden, freeing capacity for client service.
**Efficiency Gains** Delivered £3 million in annualised savings through organisational restructuring.
**Investment Performance** Strong performance in Managed Portfolio Service (MPS) and Bespoke Portfolio Service (BPS), with Defaqto Gold award for Discretionary Fund Management Service.
### **Outlook**
Expects H1 revenue trends to continue into H2, with costs remaining broadly in line.
Full-year 2026 performance expected to align with market expectations.
Confident in delivering medium-term targets of +5% annualised net flows and <5% BAU cost growth.
### **Key Metrics**
**Revenue** £58.2 million (+12% YoY).
**Underlying Operating Expenses** £45.4 million (+20% YoY, including acquisitions).
**Underlying PBT** £13.6 million (-12% YoY).
**Statutory PBT** £6.2 million (-51% YoY).
**Interim Dividend** 31.0 pence per share (+3% YoY).
### **Conclusion**
Brooks Macdonald demonstrated resilience and growth in H1 2026, with positive net flows, revenue growth, and strategic advancements. The company remains focused on its Reignite Growth strategy, leveraging technology and efficiency to drive sustainable growth and enhance client service.
Here is a comparison of the financials and debt year on year presented as an HTML table:
MetricH1 2026 (£ millions)H1 2025 (£ millions)Change
Total Funds Under Management and Advice (FUMA)20.119.15%
Net Inflows2-262N/A (from outflow to inflow)
Revenue58.251.912%
Underlying Operating Expenses45.437.820%
Underlying Profit Before Tax (PBT)13.615.5-12%
Statutory PBT6.212.6-51%
Interim Dividend per Share (pence)31.030.03%
Net Debt (Cash Resources and Liquid Assets)27.053.8-49%
**Notes:** * The table compares key financial metrics between H1 2026 and H1 2025. * Net Debt is represented by Cash Resources and Liquid Assets, as there is no explicit debt figure provided in the text. * The change in Net Inflows is marked as N/A since it's a shift from outflow to inflow. This table provides a concise overview of the year-on-year changes in Brooks Macdonald Group PLC's financials and debt position.
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All News 06:01
CTEC

Convatec FY25 Results

ConvaTec Group PLC

**Summary of Convatec FY25 Results**
Convatec Group PLC reported strong financial results for the year ended December 31, 2025, with key highlights including
1. **Revenue Growth**Reported revenue increased by 6.5% to $2,439 million, driven by broad-based organic growth across all categories, geographies, and products. Organic revenue growth excluding InnovaMatrix® was 6.4%.
2. **Margin Improvement**Adjusted operating margin expanded by 110 basis points to 22.3%, despite challenges like a $30 million reduction in InnovaMatrix® sales and incremental tariffs. This improvement was fueled by operational efficiencies, pricing strategies, and operational leverage.
3. **Earnings Growth**Adjusted diluted EPS grew by 16.0% to 17.6 cents, reflecting strong operational performance and margin expansion.
4. **Cash Generation**Free cash flow to equity was $362 million, supporting investments in growth, dividends, and share buybacks. The company returned $300 million to shareholders via share repurchases.
5. **Dividend Increase**The final dividend for 2025 was increased by 13% to 5.367 cents per share, bringing the full-year dividend to 7.244 cents per share.
6. **Strategic Investments**Convatec invested $185 million in capital expenditures, focusing on capacity expansion, new product development, and automation to meet rising demand.
7. **Product Innovations**Key product launches and innovations, such as ConvaFoamTM, Esteem BodyTM, and GentleCath AirTM, drove growth and market share gains across categories.
8. **Medium-Term Outlook**Convatec upgraded its medium-term organic revenue growth target to 6-8% from 2027, supported by a rich innovation pipeline and successful strategy implementation.
9. **Financial Position**The company secured investment-grade status, extended its financing maturity, and maintained a strong balance sheet with net debt of $1,330 million, equivalent to 2.0x adjusted EBITDA.
10. **Future Prospects**Convatec expects double-digit adjusted EPS growth in FY26, with organic revenue growth of 5-7% excluding InnovaMatrix®, and continued margin expansion to at least 23.0%.
Overall, Convatecs FY25 results demonstrate resilient growth, strategic execution, and a strong foundation for future performance, underpinned by innovation, operational excellence, and disciplined capital allocation.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY 2025FY 2024Change
Revenue$2,439m$2,289m6.5%
Operating Profit (Reported)$316m$325m(2.7%)
Operating Profit (Adjusted)$544m$485m12.1%
Operating Margin (Reported)13.0%14.2%(120 bps)
Operating Margin (Adjusted)22.3%21.2%110 bps
Diluted EPS (Reported)8.6 cents9.3 cents(7.1%)
Diluted EPS (Adjusted)17.6 cents15.2 cents16.0%
Free Cash Flow to Equity$362m$361m0.1%
Net Debt$1,330m$1,058m25.7%
Net Debt/Adjusted EBITDA2.0x1.8x11.1%
**Key Observations:** - **Revenue Growth:** Revenue increased by 6.5% from FY 2024 to FY 2025, driven by broad-based organic growth across categories, geographies, and products. - **Operating Profit:** Reported operating profit decreased slightly by 2.7%, while adjusted operating profit increased by 12.1%, reflecting strong underlying performance. - **Margins:** Adjusted operating margin improved by 110 basis points to 22.3%, despite challenges like the InnovaMatrix® CMS rate change. - **EPS Growth:** Adjusted diluted EPS grew by 16.0%, demonstrating strong earnings growth. - **Debt Increase:** Net debt increased by 25.7%, primarily due to increased borrowings, including the issuance of senior unsecured notes. The net debt to adjusted EBITDA ratio increased to 2.0x, still within the target range. This table provides a concise comparison of key financial metrics and debt levels between FY 2024 and FY 2025 for Convatec Group PLC.
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All News 06:01
UPR

2025 Preliminary Results

Uniphar Group PLC

**Summary of Uniphar PLCs 2025 Preliminary Results:**
Uniphar PLC, an international healthcare services company, reported strong financial results for 2025, highlighting significant growth across key metrics. The company achieved
**Organic Gross Profit Growth** 8.9%, the fastest rate since its IPO, driven by strong performance in all divisions, particularly Pharma (15.5%) and Medtech (10.5%).
**Adjusted EPS Growth** 21%, reaching 24.8 cents, supported by lower finance costs and a €35 million share buyback program.
**Revenue Growth** 11.0% to €3.1 billion, with constant currency growth at 11.1%.
**EBITDA Growth** 6.0% to €130.9 million, with organic growth at 9.0%.
**Net Bank Debt** Increased to €171.1 million, with leverage at 1.6x.
**Dividend** Total dividend of €5.2 million, representing a 5.2% per share increase year-on-year.
**Strategic Highlights**
Completed a €35 million share buyback program, repurchasing 13.4 million shares.
Acquired TouchStore to enhance digital and technology offerings in the pharmacy sector.
Progressed key strategic investments, including a new high-tech distribution facility in Ireland, scheduled for phased operation in mid-2026.
Maintained strong ESG ratings, including MSCI AAA and CDP B for the fourth consecutive year.
**Outlook**
Uniphar expects continued strong organic Gross Profit growth in line with its medium-term guidance. The company remains on track to achieve its target of €200 million EBITDA by 2028, with at least 80% of growth expected to be organic.
**CEO Comment**
Ger Rabbette, CEO, expressed satisfaction with the results, highlighting the fastest organic Gross Profit growth since IPO and strong Adjusted EPS growth. He reaffirmed confidence in achieving the 2028 EBITDA target.
**Financial Summary**
**Gross Profit** Increased 7.0% to €457.7 million, with a margin of 14.9%.
**Operating Profit** Decreased 6.2% to €76.9 million due to exceptional items.
**Profit Before Tax (Excluding Exceptionals):** Grew 17.4% to €71.8 million.
**Free Cash Flow Conversion** 99.1%, supported by favorable working capital movements.
**Divisional Performance**
**Uniphar Pharma** 15.5% organic Gross Profit growth, driven by Global Sourcing and clinical trial supply.
**Uniphar Medtech** 10.5% organic Gross Profit growth, supported by geographic expansion and new supplier rollouts.
**Uniphar Supply Chain & Retail** 4.2% organic Gross Profit growth, with strong volume growth in Supply Chain.
**Balance Sheet and Liquidity**
Robust balance sheet with net bank debt of €171.1 million and leverage at 1.6x.
Extended revolving credit facility maturity to August 2029 and placed a new €150 million term loan.
**Sustainability**
Reduced Scope 1 and 2 emissions by 29.9% since 2019.
Continued progress on Science-Based Targets and strong ESG ratings.
**Analyst Presentation**
A conference call for analysts and investors was scheduled for February 24, 2026, with details available on the company’s website.
**Conclusion**
Uniphar PLC delivered a strong performance in 2025, with significant growth across key financial metrics and strategic advancements. The company remains well-positioned for future growth, supported by its diversified healthcare services portfolio and strategic investments.
Here is the HTML table code comparing the financials and debt year on year for Uniphar PLC:
Metric2025 (€'000)2024 (€'000)Change
Revenue3,074,7042,770,42911.0%
Gross Profit457,692427,6047.0%
EBITDA130,909123,4586.0%
Operating Profit76,87581,989(6.2%)
Profit before tax71,79561,13017.4%
Net bank debt(171,139)(147,676)(15.9%)
Basic EPS (cent)19.523.5(17.0%)
Adjusted EPS (cent)24.820.521.0%
Leverage (times)1.551.475.4%

Key Observations:

  • Revenue increased by 11.0% from 2024 to 2025, driven by strong volume growth across all divisions.
  • Gross Profit grew by 7.0%, with organic growth of 8.9%, the fastest rate since IPO.
  • EBITDA increased by 6.0%, with organic EBITDA growth of 9.0%.
  • Net bank debt increased by 15.9%, resulting in a higher leverage ratio of 1.55 times in 2025 compared to 1.47 times in 2024.
  • Adjusted EPS grew by 21.0%, reflecting strong business performance and the positive impact of lower finance costs and share buybacks.
This table provides a clear comparison of key financial metrics and debt between 2024 and 2025 for Uniphar PLC. The observations highlight the company's strong revenue and profit growth, as well as the increase in debt and leverage ratio.
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All News 06:01
CRDA

Results for the year ended 31 December 2025

Croda International PLC

**Summary of Croda International PLCs Final Results for the Year Ended 31 December 2025**
Croda International PLC, a leading specialty chemicals company, announced its final results for the year ended 31 December 2025, highlighting encouraging progress in delivering its growth and returns strategy despite an uncertain trading environment.
**Financial Highlights**
**Sales Growth** Group sales increased by 4.4% to £1,699.4 million, with a 6.6% growth at constant currency. Consumer Care and Life Sciences segments led the growth, with sales up 8% in both segments.
**Adjusted Operating Profit** Adjusted operating profit rose by 7.9% to £295.3 million at constant currency, driven by improved profitability in Consumer Care and Life Sciences.
**Adjusted Profit Before Tax** Adjusted profit before tax increased by 8.4% to £276.2 million, or £282.0 million at constant currency.
**Dividend** The full-year dividend was increased by 1p to 111p per share.
**Business Performance**
**Consumer Care** Sales grew by 8% at constant currency, with strong performance in Fragrances and Flavours (F&F), Beauty Actives, and Beauty Care.
**Life Sciences** Sales increased by 8% at constant currency, driven by growth in Crop Protection and Pharma.
**Industrial Specialties** Sales declined by 2% at constant currency due to lower sales volumes.
**Strategic Progress**
**Innovation** Croda refocused its innovation efforts, introducing a new rigorous framework and reallocating R&D resources to prioritize customer-centric innovation.
**Customer Experience** The company improved customer experience through tailored solutions, bespoke service packages, and regionalization of claims testing and formulation support.
**Transformation Program** Crodas transformation program delivered £28 million in gross benefits in 2025, with a target of £100 million in total annualized benefits by 2028.
**Financial Framework to 2028**
Croda set out a new financial framework to 2028, targeting
**Sales Growth** 3-6% organic sales growth CAGR
**Adjusted Operating Margin** >20% by 2028
**Free Cash Flow-to-Sales Ratio** >12% by 2028
**Return on Invested Capital (ROIC)** >10% by 2028
**2026 Outlook**
For 2026Croda expects
**Group Organic Sales Growth** Within the 3-6% range
**Adjusted Operating Margin** Further increase driven by improving profitability in Consumer Care and Life Sciences
**Adjusted Operating Profit** In line with current market expectations at constant currency
**Conclusion**
Croda International PLC demonstrated resilience and progress in 2025, delivering sales growth, improved profitability, and strategic advancements despite market challenges. The companys financial framework to 2028 and 2026 outlook reflect its confidence in achieving sustainable growth, enhanced profitability, and improved returns on capital.
Here is an HTML table comparing the financials and debt year on year for Croda International PLC based on the provided text:
Metric2025 (£m)2024 (£m)Change
Sales1,699.41,628.14.4%
EBITDA396.6378.35.0%
Operating Profit295.3279.75.6%
Profit Before Tax276.2260.06.2%
Free Cash Flow161.6169.6(4.7%)
Net Debt523.8532.3(1.6%)
**Key Observations:** * **Sales Growth:** Croda International PLC experienced a 4.4% increase in sales from 2024 to 2025, reaching £1,699.4 million. * **EBITDA and Operating Profit:** Both EBITDA and operating profit showed growth, with EBITDA increasing by 5.0% and operating profit by 5.6%. * **Profit Before Tax:** Profit before tax also increased by 6.2%, indicating improved profitability. * **Free Cash Flow:** Free cash flow decreased slightly by 4.7%, but remained positive at £161.6 million. * **Net Debt Reduction:** The company successfully reduced its net debt by 1.6%, from £532.3 million in 2024 to £523.8 million in 2025. This table provides a concise overview of Croda International PLC's financial performance and debt position, highlighting areas of growth and improvement.
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All News 06:01
TENG

Ten wins Large contract with financial provider

Ten Lifestyle Group PLC

**Summary**
Ten Lifestyle Group plc (AIMTENG), a global concierge technology platform, has secured a new multi-year contract with a leading financial services provider in the AMEA region. The contract, categorized as "Large" (valued between £2m and £5m annually), involves launching a digitally enabled customer experience program for the providers High and Ultra Net Worth clients. Ten will establish a new in-market operating presence to support this initiative, enhancing service coverage and operational capability in a high-growth region. The transition from the incumbent provider is expected to begin in the second half of Tens financial year ending 31 August 2026, with full contract implementation anticipated in FY 2027. This win underscores Tens commitment to driving customer loyalty for global financial institutions and premium brands, leveraging its proprietary technology, supplier relationships, and 27 years of expertise. Ten remains dedicated to sustainability and ethical business practices as the first B Corp-certified company on the AIM market.
NewContract
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All News 06:01
CGEO

Final Results

Georgia Capital PLC

**Summary**
Georgia Capital PLC, a London-listed investment entity, reported strong financial results for the fourth quarter (4Q25) and full year (FY25) of 2025. Key highlights include
**Net Asset Value (NAV) Growth** NAV per share increased by 14.1% quarter-on-quarter (q-o-q) in 4Q25 and 61.2% year-on-year (y-o-y) in FY25, driven by portfolio value growth, share buybacks, and strong operating performance across private portfolio companies.
**Portfolio Performance** The total portfolio value reached GEL 5.1 billion in 4Q25, up 9.4% q-o-q. Listed portfolio value increased by 14.9% q-o-q, primarily due to Lion Finance Groups share price appreciation. Private portfolio value grew by 4.5% q-o-q, led by value creation, investments, and dividend payments.
**Private Portfolio Companies** Large private portfolio companies, including retail (pharmacy), insurance, and healthcare services, delivered outstanding operational results. Aggregated revenues and EBITDA increased by 11.8% and 17.8% y-o-y, respectively, in 4Q25.
**Lion Finance Group** Lion Finance Groups share price rose by 21.6% q-o-q in 4Q25 and 97.5% y-o-y in FY25, contributing significantly to the listed portfolios value creation.
**Share Buybacks** Georgia Capital completed a US$ 50 million share buyback and cancellation program in January 2026, repurchasing 1.5 million shares. A new US$ 50 million share buyback program was launched in February 2026.
**Net Capital Commitment (NCC) Ratio** The NCC ratio improved to a record low of 2.3% in 4Q25, reflecting strong cash generation and portfolio value growth.
**Financial Performance** Adjusted IFRS net income was GEL 598.9 million in 4Q25 and GEL 1,870.4 million in FY25. Gross operating income increased by 15.3% y-o-y in FY25, primarily due to dividend collections.
**Valuation** Independent valuation assessments were performed for retail (pharmacy), insurance, healthcare services, renewable energy, and education businesses, using income and market approaches.
**Outlook** Georgia Capital expects continued robust NAV per share growth, driven by Lion Finance Groups performance, private portfolio companies growth, deleveraging, and share buybacks.
**Key Financials (GEL 000unless otherwise noted):**
NAV per share: GEL 154.68 (4Q25)up 14.1% q-o-q and 61.2% y-o-y
Total portfolio value: GEL 5074885 (4Q25)up 9.4% q-o-q and 34.9% y-o-y
Adjusted IFRS net income: GEL 598877 (4Q25)up 37.5% y-o-y
GEL 1870441 (FY25)up NMF y-o-y
Dividend income: GEL 57692 (4Q25)up NMF y-o-y
GEL 225534 (FY25)up 11.8% y-o-y
**Key Ratios**
NCC ratio2.3% (4Q25), down 3.1 ppts q-o-q and 10.5 ppts y-o-y
Net debt to EBITDA leverage ratio (retail pharmacy): 1.3x (31-Dec-25)
Combined ratio (P&C insurance)90.9% (4Q25), up 1.0 ppt y-o-y
EBITDA margin (healthcare servicesexcl. IFRS 16): 19.7% (4Q25)up 0.4 ppts y-o-y
**Key Developments**
Completion of US$ 50 million share buyback program and launch of a new program
Strong performance across private portfolio companies, particularly in retail, insurance, and healthcare services
Continued growth and value creation from Lion Finance Group
Improved NCC ratio, reflecting strong cash generation and portfolio value growth
Successful social bond issuance by healthcare services business
**Outlook**
Georgia Capital expects to maintain its strong performance, driven by
Lion Finance Groups exceptional performance in Georgia and Armenia
Robust growth across private portfolio companies
Significant deleveraging at the holding level
Strong cash generation, enabling share buybacks and capital returns
The company remains well-positioned to capitalize on its portfolios growth potential and deliver attractive returns to shareholders.
Here is a comparison of the financials and debt year on year for Georgia Capital PLC, presented as an HTML table:
MetricDec-24Dec-25Change
NAV per share (GEL)95.95154.6861.2%
NAV per share (GBP)27.1442.4456.4%
Net Asset Value (NAV)3,609,0135,194,52743.9%
Cash, liquid funds and accrued dividends278,237239,801-13.8%
Gross debt(432,662)(139,128)-67.8%
Net debt(154,425)102,909NMF
NCC ratio12.8%2.3%-10.5 ppts
Total portfolio value3,761,4905,074,88534.9%
Net income350,3241,870,441NMF
**Notes:** * NMF = Not Meaningful (due to significant changes or non-comparable figures) * The table compares key financial metrics between December 2024 (Dec-24) and December 2025 (Dec-25) * Metrics include NAV per share, Net Asset Value, cash and debt positions, NCC ratio, total portfolio value, and net income * The "Change" column shows the percentage change between Dec-24 and Dec-25 * The table highlights significant improvements in NAV, portfolio value, and net income, as well as a substantial reduction in gross debt and NCC ratio
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All News 06:01
BGO

Director/PDMR Shareholding

Bango plc

PDMR Share <mark style="background-coloryellow">Purchase</mark>s via Employee Share Incentive Plan
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Approvals 13:19
AHT

Court Approval Of The Scheme Of Arrangement

Ashtead Group PLC

**Summary**
Ashtead Group PLC announced on February 24, 2026, that the Court has approved the Scheme of Arrangement, a plan to establish Sunbelt Rentals Holdings, Inc., a new Delaware corporation, as the holding company of the Ashtead group. This move is part of the companys proposed new U.S. primary listing. The Scheme, initially proposed in February 2025 and approved by shareholders in June 2025, is conditional on the Court Order being delivered to the Registrar of Companies by February 27, 2026.
Key upcoming events include
Publication of the U.K. Prospectus on February 25, 2026.
Last day of dealings in Ashtead shares on February 27, 2026.
Scheme Effective Time at 1000 p.m. UK time on February 27, 2026.
De-listing of Ashtead shares and listing of Sunbelt Rentals shares on March 2, 2026, on both the London and New York stock exchanges.
Dispatch of statements of entitlement and DRS advice, as well as any cash due to shareholders, within 14 days after the New York Listing Effective Time.
The company will provide updates if any key dates change and will make a further announcement once the Scheme becomes effective. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are provided for enquiries.
Approvals
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BuyBack 06:11
CGEO

Commencement of US$ 50 million buyback programme

Georgia Capital PLC

**Summary**
Georgia Capital PLC announced the commencement of a US$ 50 million share buyback and cancellation programme on February 24, 2026. The programme, approved by the board of directors, will run for nine months, with shares purchased on the open market and treasury shares cancelled monthly. The primary goal is to reduce share capital, with the maximum price per share not exceeding the la<mark style="background-color:yellow">test</mark> reported NAV per share. The programme is authorized to repurchase up to 3,150,275 shares, as approved by shareholders at the 2025 AGM, and complies with FCA Listing Rules and EU Market Abuse Regulations. Numis Securities Limited has been appointed to manage the irrevocable, non-discretionary buyback programme. Further announcements will be made following share repurchases. Georgia Capital focuses on investing in and developing businesses in Georgia, with holdings in retail, insurance, healthcare, and a significant stake in Lion Finance Group PLC. The company holds a BB- credit rating from S&P Global.
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CashOffer 06:01
ESYS

Recommended Cash Offer

Essensys PLC

**Summary**
Essensys PLC, a provider of software and technology for flexible workspace operators, has received a recommended cash offer from Essensys Bidco Limited ("Bidco"), a newly incorporated company backed by Mark Furness and members of the Concert Party. The offer values Essensys at approximately £11.3 million, with a cash offer of 17 pence per share, representing a premium of 9.7% to the closing price on November 27, 2025.
**Key Points**
**Offer Details** The offer is subject to various conditions, including the acceptance of 90% of Essensys shares. Shareholders can choose between the cash offer or an alternative offer of one New Bidco Share for each Essensys share, which does not carry voting rights.
**Rationale** The offer aims to provide Essensys shareholders with certainty and value, while allowing the company to operate in a private setting, free from short-term public market pressures. This is expected to enable Essensys to focus on long-term strategic goals, customer needs, and product innovation.
**Concert Party** The Concert Party, including Mark Furness, William Currie, Terry Leahy, and others, currently holds 36.55% of Essensys shares. They believe private ownership will benefit Essensys by reducing financial and administrative burdens and improving access to capital.
**Recommendation** The Essensys Independent Directors recommend shareholders accept the cash offer, considering it fair and reasonable. They believe the offer provides a certain exit opportunity and facilitates strategic and operational benefits for stakeholders.
**Financing** The cash offer will be funded through a £10 million secured term loan facility.
**Next Steps** The offer is expected to become unconditional in the second quarter of 2026, after which Essensys will be re-registered as a private limited company and delisted from AIM.
This summary highlights the key aspects of the recommended cash offer for Essensys PLC, emphasizing the offer details, rationale, key players, and expected outcomes.
CashOffer
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DirectorDealing 15:14
IHP

Director/PDMR Shareholding

IntegraFin Holdings plc

1. <mark style="background-coloryellow">Purchase</mark> of Partnership Shares by the Trustee of the IntegraFin Share Incentive Plan 2018.
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DirectorDealing 14:00
ADF

Director Dealing

Facilities By ADF PLC

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
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DirectorDealing 12:01
BME

Director/PDMR Shareholding

B&M European Value Retail SA

<mark style="background-coloryellow">Purchase</mark> of ordinary shares
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DirectorDealing 06:01
ASAI

Director/PDMR Shareholding

ASA International Group PLC

<mark style="background-coloryellow">Purchase</mark> of ordinary shares
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DirectorDealing 06:01
BGO

Director/PDMR Shareholding

Bango plc

PDMR Share <mark style="background-coloryellow">Purchase</mark>s via Employee Share Incentive Plan
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NewContract 06:01
ACRM

Contract win

Acuity RM Group Plc

**Summary**
Acuity RM Group PLC, a cybersecurity software provider specializing in the defense sector, announced a contract win to supply services to Sopra Steria, which serves the British government. The contract, valued at £75,000, involves enhancing the Classic STREAM software platform with automations and additional functionality for a highly sensitive cybersecurity program. This upsell builds on a three-year relationship that has already generated over £250,000 in revenue.
The partnership holds strategic significance, as Sopra Steria plans to develop a product based on Classic STREAM to help government and defense clients meet Secure by Design (SbD) cybersecurity requirements. Acuity’s CEO, David Rajakovich, highlighted the potential for material value creation and expressed pride in continuing to serve the UK government’s security needs. While no formal agreement has been finalized, discussions are ongoing, and Acuity anticipates providing further updates. This non-regulatory announcement underscores Acuity’s focus on sustainable growth through organic expansion and strategic partnerships.
NewContract
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NewContract 06:01
TENG

Ten wins Large contract with financial provider

Ten Lifestyle Group PLC

**Summary**
Ten Lifestyle Group plc (AIMTENG), a global concierge technology platform, has secured a new multi-year contract with a leading financial services provider in the AMEA region. The contract, categorized as "Large" (valued between £2m and £5m annually), involves launching a digitally enabled customer experience program for the providers High and Ultra Net Worth clients. Ten will establish a new in-market operating presence to support this initiative, enhancing service coverage and operational capability in a high-growth region. The transition from the incumbent provider is expected to begin in the second half of Tens financial year ending 31 August 2026, with full contract implementation anticipated in FY 2027. This win underscores Tens commitment to driving customer loyalty for global financial institutions and premium brands, leveraging its proprietary technology, supplier relationships, and 27 years of expertise. Ten remains dedicated to sustainability and ethical business practices as the first B Corp-certified company on the AIM market.
NewContract
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Proposals 06:01
INV

Proposals for the future of the Company

The Investment Company plc

**Summary**
**Investment Company PLC** announced proposals for its future on February 24, 2026, following a review initiated in December 2025. The key elements of the proposals include
1. **Appointment of a New Portfolio Manager**: Dowgate Wealth Limited will replace Chelverton Asset Management Ltd (CAM) as the portfolio manager, subject to shareholder and regulatory approvals. Dowgate, a boutique wealth manager with £2 billion in assets under management, will lead the Companys portfolio under Jeremy McKeown, supported by their investment team.
2. **New Investment Policy**The Company will adopt a strategy focused on protecting and growing shareholders real purchasing power through a diversified portfolio of scarce, economically resilient assets. This includes foundational reserves, strategic equity participations, and inflation-protected instruments.
3. **Tender Offer**Existing shareholders will have the option to exit their investment at a 5% discount to the net asset value, providing liquidity for those who prefer not to remain invested under the new strategy.
4. **Capital Raise**The Company plans to raise new capital through a placing, offer for subscription, or a matched bargain facility to ensure sufficient scale for the new strategy.
5. **Conditions and Approvals**Implementation of the proposals is contingent on shareholder, regulatory, and court approvals, as well as successful capital raising. A circular with further details will be published, and the process is expected to complete in the second quarter of 2026.
The Board, led by Chairman Ian Dighe, expressed confidence in the proposals, emphasizing the Companys long heritage since 1868 and the need for a modern strategy. Dowgates Ben McKeown highlighted their expertise and commitment to revitalizing the Company for future growth. The proposals are inter-conditional, meaning they will only proceed if implemented in full.
Proposals
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Reports 06:01
BRK

Half-year Financial Report

Brooks Macdonald Group

**Summary of Brooks Macdonald Group PLCs Half-Year Financial Report (H1 2026)**
Brooks Macdonald Group PLC reported its half-year results for the six months ending 31 December 2025, highlighting strong momentum and strategic progress. Key financial and operational highlights include
### **Financial Highlights**
**Total Funds Under Management and Advice (FUMA):** Increased by 5% to £20.1 billion, driven by market and investment performance.
**Net Inflows** Positive net inflows of £2 million, the first half-year of positive flows since H2 2023.
**Revenue** Grew by 12% to £58.2 million, supported by higher financial planning and fee income.
**Underlying Profit Before Tax (PBT)** £13.6 million, with a margin of 23.4%.
**Statutory PBT:** £6.2 millionreflecting higher organic investmentM&Aand integration costs.
**Interim Dividend** Recommended at 31.0 pence per share, up 3%.
### **Strategic and Operational Highlights**
**Reignite Growth Strategy** Progress across all three strategic priorities, including investments in digital capability, AI, and product innovation.
**Brooks Financial Integration** Completed integration, achieving £1 million in annualised cost synergies and 98% client retention.
**Client Experience Enhancements** Launched a mobile app and improved onboarding through digitisation.
**AI Deployment** Reduced administrative burden, freeing capacity for client service.
**Efficiency Gains** Delivered £3 million in annualised savings through organisational restructuring.
**Investment Performance** Strong performance in Managed Portfolio Service (MPS) and Bespoke Portfolio Service (BPS), with Defaqto Gold award for Discretionary Fund Management Service.
### **Outlook**
Expects H1 revenue trends to continue into H2, with costs remaining broadly in line.
Full-year 2026 performance expected to align with market expectations.
Confident in delivering medium-term targets of +5% annualised net flows and <5% BAU cost growth.
### **Key Metrics**
**Revenue** £58.2 million (+12% YoY).
**Underlying Operating Expenses** £45.4 million (+20% YoY, including acquisitions).
**Underlying PBT** £13.6 million (-12% YoY).
**Statutory PBT** £6.2 million (-51% YoY).
**Interim Dividend** 31.0 pence per share (+3% YoY).
### **Conclusion**
Brooks Macdonald demonstrated resilience and growth in H1 2026, with positive net flows, revenue growth, and strategic advancements. The company remains focused on its Reignite Growth strategy, leveraging technology and efficiency to drive sustainable growth and enhance client service.
Here is a comparison of the financials and debt year on year presented as an HTML table:
MetricH1 2026 (£ millions)H1 2025 (£ millions)Change
Total Funds Under Management and Advice (FUMA)20.119.15%
Net Inflows2-262N/A (from outflow to inflow)
Revenue58.251.912%
Underlying Operating Expenses45.437.820%
Underlying Profit Before Tax (PBT)13.615.5-12%
Statutory PBT6.212.6-51%
Interim Dividend per Share (pence)31.030.03%
Net Debt (Cash Resources and Liquid Assets)27.053.8-49%
**Notes:** * The table compares key financial metrics between H1 2026 and H1 2025. * Net Debt is represented by Cash Resources and Liquid Assets, as there is no explicit debt figure provided in the text. * The change in Net Inflows is marked as N/A since it's a shift from outflow to inflow. This table provides a concise overview of the year-on-year changes in Brooks Macdonald Group PLC's financials and debt position.
Results 18 news titles 18
FERG logo
Results 10:46
FERG

Ferguson Reports Strong Calendar 2025 Results and Issues 2026 Guidance

Ferguson Plc

**Summary of Ferguson Enterprises Inc.s 2025 Financial Results and 2026 Guidance**
Ferguson Enterprises Inc. reported strong financial results for the calendar year 2025, highlighting robust growth, improved margins, and strategic investments. Key highlights include
**Revenue Growth**Sales increased by 5.0% to $31.3 billion, driven by organic growth of 4.5% and acquisition growth of 1.0%.
**Margin Expansion**Gross margin improved to 31.0%, up 70 basis points, while operating margin rose to 8.9%, up 40 basis points. Adjusted operating margin was 9.6%, up 50 basis points.
**Earnings Growth**Diluted earnings per share (EPS) increased by 24.2% to $10.16, with adjusted EPS up 13.4% to $10.58.
**Cash Generation**Operating cash flow was strong at $2.2 billion.
**Dividends and Share Repurchases**Declared dividends of $3.38 per share and repurchased $0.9 billion in shares, with $0.6 billion remaining under the current repurchase program.
**Acquisitions**Invested $276 million in eight acquisitions, adding annualized revenue of over $300 million.
**Balance Sheet Strength**Net debt to adjusted EBITDA ratio remained healthy at 1.1x.
**2026 Guidance**
**Net Sales**Low to mid-single digit growth.
**Adjusted Operating Margin**9.4% to 9.8%.
**Interest Expense**Approximately $200 million.
**Capital Expenditures**$350 to $400 million.
**Adjusted Effective Tax Rate**Around 26%.
**Strategic Focus**
Ferguson continues to focus on organic growth, strategic acquisitions, and returning capital to shareholders. The company is well-positioned to capitalize on long-term growth drivers in both residential and non-residential markets, particularly in water infrastructure, large capital projects, and climate & comfort solutions.
**Leadership Changes**
Brian Lantz, Vice President of Investor Relations and Communications, will retire on May 1, 2026. Pete Kennedy has been promoted to Vice President of Investor Relations, and Christine Dwyer to Vice President of Communications and Public Relations.
**Conclusion**
Ferguson delivered a strong performance in 2025, with continued market share gains and operational efficiency. The company remains optimistic about its growth prospects in 2026, supported by its scale-advantaged business model and strategic investments.
Here’s an HTML table comparing the year-on-year financials and debt for Ferguson Enterprises Inc. based on the provided text:
Metric2024 (in millions)2025 (in millions)Change
Net Sales$29,818$31,316+5.0%
Gross Margin30.3%31.0%+70 bps
Operating Profit$2,528$2,789+10.3%
Operating Margin8.5%8.9%+40 bps
Diluted Earnings per Share$8.18$10.16+24.2%
Adjusted EBITDA$2,905$3,243+11.6%
Net Debt: Adjusted EBITDA1.2x1.1x-0.1x
Capital Expenditures$328$354+7.9%
Dividends Paid$637$656+3.0%
Share Repurchases$893$902+1.0%
### Key Highlights: - **Net Sales**: Increased by 5.0% from $29.8 billion in 2024 to $31.3 billion in 2025. - **Gross Margin**: Improved by 70 basis points from 30.3% to 31.0%. - **Operating Profit**: Rose by 10.3% from $2.5 billion to $2.8 billion. - **Diluted Earnings per Share**: Surged by 24.2% from $8.18 to $10.16. - **Net Debt to Adjusted EBITDA**: Improved from 1.2x to 1.1x, indicating a stronger balance sheet. - **Capital Expenditures**: Increased by 7.9% from $328 million to $354 million. - **Dividends and Share Repurchases**: Both increased slightly, reflecting continued shareholder returns. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025 for Ferguson Enterprises Inc.
MCB logo
Results 06:06
MCB

Interim results for 6M ended 31 December 2025

McBride plc

**Summary of McBride PLC Interim Results for 6M Ended 31 December 2025**
**Financial Performance**
**Revenue**£475.2 million, up 0.8% year-on-year (down 2.1% on a constant currency basis), driven by volume growth in private label and contract manufacturing.
**Adjusted Operating Profit**£31.5 million, slightly down from £32.0 million in 2024, with margins maintained at 6.6%.
**Adjusted EBITDA**£41.8 million, stable at 8.8% of revenue, reflecting operational efficiency and cost control.
**Profit Before Taxation**£23.0 million, down from £25.7 million in 2024, impacted by exceptional items.
**Adjusted Basic EPS**10.8p, down from 11.9p in 2024, due to one-off tax effects in the prior year.
**Net Debt**£120.6 million, up slightly from £117.6 million, despite £12.9 million in shareholder returns (dividends, share buybacks, and Employee Benefit Trust purchases).
**Operational Highlights**
**Volume Growth**Overall volumes up 0.4%, with private label volumes increasing by 0.9% and contract manufacturing volumes by 1.4%.
**SAP S/4HANA Implementation**Successful launch of Wave 1 in the UK, with the next wave expected across European sites in the next financial year.
**Transformation Agenda**On track to deliver £50 million in net benefits over five years, with cumulative benefits of £8.7 million as of 31 December 2025.
**Sustainability**Progress on decarbonization, renewable energy adoption, and employee training in climate literacy.
**Strategic Initiatives**
**Shareholder Returns**Reinstated dividends, share buyback program, and EBT purchases to reduce equity dilution.
**Customer Partnerships**Strengthened relationships and secured a healthy pipeline of new contracts for the second half of the year.
**Operational Efficiency**Focus on automation, cost optimization, and productivity improvements across manufacturing sites.
**Outlook**
**Second Half Expectations**In line with expectations, with good momentum driven by new contract wins and market share growth in private label.
**Market Conditions**Private label market share continues to grow, with material costs expected to remain flat and overhead costs under control.
**Full-Year Guidance**On track to meet analysts expectations for adjusted operating profit of £64.7 million.
**Divisional Performance**
**Liquids**Revenue stable at £269.0 million, with adjusted operating profit of £17.7 million (margin 6.6%).
**Unit Dosing**Revenue down 2.0% to £115.7 million, but adjusted operating profit improved to £12.5 million (margin 10.8%).
**Powders**Revenue up 2.0% to £44.9 million, with adjusted operating profit of £3.0 million (margin 6.7%).
**Aerosols**Revenue up 18.1% to £33.9 million, with adjusted operating profit of £2.1 million (margin 6.2%).
**Asia Pacific**Revenue stable at £11.7 million, with adjusted operating profit of £0.5 million (margin 4.3%).
**Conclusion**
McBride PLC delivered a solid first-half performance, maintaining profitability and operational efficiency despite inflationary pressures. The company remains focused on strategic growth, shareholder returns, and sustainability, with a positive outlook for the remainder of the financial year and beyond.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2025 (£m)2024 (£m)Change (£m)Change (%)
Revenue475.2471.43.80.8%
Adjusted Operating Profit31.532.0(0.5)(1.6%)
Operating Profit28.331.0(2.7)(8.7%)
Adjusted EBITDA41.841.70.10.2%
Adjusted Profit Before Taxation26.226.7(0.5)(1.9%)
Profit Before Taxation23.025.7(2.7)(10.5%)
Net Debt120.6117.63.02.6%
**Key Observations:** 1. **Revenue Growth:** Revenue increased slightly by 0.8% from £471.4m in 2024 to £475.2m in 2025. 2. **Profitability:** Adjusted operating profit decreased marginally by 1.6%, while operating profit saw a more significant decline of 8.7%. 3. **EBITDA Stability:** Adjusted EBITDA remained relatively stable, increasing by only 0.2%. 4. **Net Debt Increase:** Net debt increased by £3.0m (2.6%) from £117.6m in 2024 to £120.6m in 2025. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025.
UTG logo
Results 06:01
UTG

Results for the year ended 31 December 2025

Unite Group PLC

Unite Group PLC, a leading provider of student accommodation in the UK, reported its final results for the year ended December 31, 2025. The company demonstrated resilience in a challenging market, with strong trading across most of its portfolio, despite weaker demand in some cities. Key highlights include
**Financial Performance**Adjusted earnings increased by 9% to £232.3 million, and adjusted EPS grew by 2% to 47.5p. However, IFRS profit attributable to owners decreased by 78% to £97.6 million due to a valuation decrease in the property portfolio.
**Operational Metrics**Achieved 4.0% rental growth and 95.2% occupancy for the 2025/26 academic year, with 19 out of 22 cities averaging 97% occupancy.
**Strategic Progress**Increased alignment to high-tariff universities to 67%, with a target of 80%. Completed the acquisition of Empirics 7,700-bed portfolio, enhancing the offer to returning students.
**Capital Allocation**Commenced a £100 million share buyback program and disposed of St Pancras Way to USAF for £186 million, demonstrating disciplined capital management.
**Market Trends**Strong demand for higher education in the UK, with a 5% increase in 18-year-old applicants for 2026/27. New PBSA supply remains constrained, and the HMO sector is in decline.
**Future Outlook**Guidance for 2026/27 includes 2-3% rental growth and 93-96% occupancy, with adjusted EPS expected to be 41.5-43.0p, reflecting lower Empiric income and occupancy.
Unite Group is focused on operational excellence, optimal capital allocation, and strengthening university partnerships to drive long-term growth and shareholder value.
Here is the HTML table code comparing the financials and debt year on year for Unite Group PLC:
Metric20252024Change
Adjusted earnings (£m)232.3213.89%
Adjusted EPS (p)47.546.62%
IFRS profit attributable to owners (£m)97.6441.9(78%)
IFRS EPS (diluted) (p)19.996.1(79%)
Dividend per share (p)37.737.31%
EPRA NTA per share (p)955972(2%)
IFRS net assets per share (p)966982(2%)
Net debt: EBITDA6.0x5.5x0.5x
Loan to value27%24%+3ppts
**Notes:** * The table includes key financial metrics such as adjusted earnings, EPS, IFRS profit, dividends, NTA per share, and debt ratios. * The "Change" column shows the percentage change or difference between 2025 and 2024 values. * The table is based on the provided text, which contains Unite Group PLC's financial results for the year ended 31 December 2025, compared to the previous year.
CTEC logo
Results 06:01
CTEC

Convatec FY25 Results

ConvaTec Group PLC

**Summary of Convatec FY25 Results**
Convatec Group PLC reported strong financial results for the year ended December 31, 2025, with key highlights including
1. **Revenue Growth**Reported revenue increased by 6.5% to $2,439 million, driven by broad-based organic growth across all categories, geographies, and products. Organic revenue growth excluding InnovaMatrix® was 6.4%.
2. **Margin Improvement**Adjusted operating margin expanded by 110 basis points to 22.3%, despite challenges like a $30 million reduction in InnovaMatrix® sales and incremental tariffs. This improvement was fueled by operational efficiencies, pricing strategies, and operational leverage.
3. **Earnings Growth**Adjusted diluted EPS grew by 16.0% to 17.6 cents, reflecting strong operational performance and margin expansion.
4. **Cash Generation**Free cash flow to equity was $362 million, supporting investments in growth, dividends, and share buybacks. The company returned $300 million to shareholders via share repurchases.
5. **Dividend Increase**The final dividend for 2025 was increased by 13% to 5.367 cents per share, bringing the full-year dividend to 7.244 cents per share.
6. **Strategic Investments**Convatec invested $185 million in capital expenditures, focusing on capacity expansion, new product development, and automation to meet rising demand.
7. **Product Innovations**Key product launches and innovations, such as ConvaFoamTM, Esteem BodyTM, and GentleCath AirTM, drove growth and market share gains across categories.
8. **Medium-Term Outlook**Convatec upgraded its medium-term organic revenue growth target to 6-8% from 2027, supported by a rich innovation pipeline and successful strategy implementation.
9. **Financial Position**The company secured investment-grade status, extended its financing maturity, and maintained a strong balance sheet with net debt of $1,330 million, equivalent to 2.0x adjusted EBITDA.
10. **Future Prospects**Convatec expects double-digit adjusted EPS growth in FY26, with organic revenue growth of 5-7% excluding InnovaMatrix®, and continued margin expansion to at least 23.0%.
Overall, Convatecs FY25 results demonstrate resilient growth, strategic execution, and a strong foundation for future performance, underpinned by innovation, operational excellence, and disciplined capital allocation.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY 2025FY 2024Change
Revenue$2,439m$2,289m6.5%
Operating Profit (Reported)$316m$325m(2.7%)
Operating Profit (Adjusted)$544m$485m12.1%
Operating Margin (Reported)13.0%14.2%(120 bps)
Operating Margin (Adjusted)22.3%21.2%110 bps
Diluted EPS (Reported)8.6 cents9.3 cents(7.1%)
Diluted EPS (Adjusted)17.6 cents15.2 cents16.0%
Free Cash Flow to Equity$362m$361m0.1%
Net Debt$1,330m$1,058m25.7%
Net Debt/Adjusted EBITDA2.0x1.8x11.1%
**Key Observations:** - **Revenue Growth:** Revenue increased by 6.5% from FY 2024 to FY 2025, driven by broad-based organic growth across categories, geographies, and products. - **Operating Profit:** Reported operating profit decreased slightly by 2.7%, while adjusted operating profit increased by 12.1%, reflecting strong underlying performance. - **Margins:** Adjusted operating margin improved by 110 basis points to 22.3%, despite challenges like the InnovaMatrix® CMS rate change. - **EPS Growth:** Adjusted diluted EPS grew by 16.0%, demonstrating strong earnings growth. - **Debt Increase:** Net debt increased by 25.7%, primarily due to increased borrowings, including the issuance of senior unsecured notes. The net debt to adjusted EBITDA ratio increased to 2.0x, still within the target range. This table provides a concise comparison of key financial metrics and debt levels between FY 2024 and FY 2025 for Convatec Group PLC.
UPR logo
Results 06:01
UPR

2025 Preliminary Results

Uniphar Group PLC

**Summary of Uniphar PLCs 2025 Preliminary Results:**
Uniphar PLC, an international healthcare services company, reported strong financial results for 2025, highlighting significant growth across key metrics. The company achieved
**Organic Gross Profit Growth** 8.9%, the fastest rate since its IPO, driven by strong performance in all divisions, particularly Pharma (15.5%) and Medtech (10.5%).
**Adjusted EPS Growth** 21%, reaching 24.8 cents, supported by lower finance costs and a €35 million share buyback program.
**Revenue Growth** 11.0% to €3.1 billion, with constant currency growth at 11.1%.
**EBITDA Growth** 6.0% to €130.9 million, with organic growth at 9.0%.
**Net Bank Debt** Increased to €171.1 million, with leverage at 1.6x.
**Dividend** Total dividend of €5.2 million, representing a 5.2% per share increase year-on-year.
**Strategic Highlights**
Completed a €35 million share buyback program, repurchasing 13.4 million shares.
Acquired TouchStore to enhance digital and technology offerings in the pharmacy sector.
Progressed key strategic investments, including a new high-tech distribution facility in Ireland, scheduled for phased operation in mid-2026.
Maintained strong ESG ratings, including MSCI AAA and CDP B for the fourth consecutive year.
**Outlook**
Uniphar expects continued strong organic Gross Profit growth in line with its medium-term guidance. The company remains on track to achieve its target of €200 million EBITDA by 2028, with at least 80% of growth expected to be organic.
**CEO Comment**
Ger Rabbette, CEO, expressed satisfaction with the results, highlighting the fastest organic Gross Profit growth since IPO and strong Adjusted EPS growth. He reaffirmed confidence in achieving the 2028 EBITDA target.
**Financial Summary**
**Gross Profit** Increased 7.0% to €457.7 million, with a margin of 14.9%.
**Operating Profit** Decreased 6.2% to €76.9 million due to exceptional items.
**Profit Before Tax (Excluding Exceptionals):** Grew 17.4% to €71.8 million.
**Free Cash Flow Conversion** 99.1%, supported by favorable working capital movements.
**Divisional Performance**
**Uniphar Pharma** 15.5% organic Gross Profit growth, driven by Global Sourcing and clinical trial supply.
**Uniphar Medtech** 10.5% organic Gross Profit growth, supported by geographic expansion and new supplier rollouts.
**Uniphar Supply Chain & Retail** 4.2% organic Gross Profit growth, with strong volume growth in Supply Chain.
**Balance Sheet and Liquidity**
Robust balance sheet with net bank debt of €171.1 million and leverage at 1.6x.
Extended revolving credit facility maturity to August 2029 and placed a new €150 million term loan.
**Sustainability**
Reduced Scope 1 and 2 emissions by 29.9% since 2019.
Continued progress on Science-Based Targets and strong ESG ratings.
**Analyst Presentation**
A conference call for analysts and investors was scheduled for February 24, 2026, with details available on the company’s website.
**Conclusion**
Uniphar PLC delivered a strong performance in 2025, with significant growth across key financial metrics and strategic advancements. The company remains well-positioned for future growth, supported by its diversified healthcare services portfolio and strategic investments.
Here is the HTML table code comparing the financials and debt year on year for Uniphar PLC:
Metric2025 (€'000)2024 (€'000)Change
Revenue3,074,7042,770,42911.0%
Gross Profit457,692427,6047.0%
EBITDA130,909123,4586.0%
Operating Profit76,87581,989(6.2%)
Profit before tax71,79561,13017.4%
Net bank debt(171,139)(147,676)(15.9%)
Basic EPS (cent)19.523.5(17.0%)
Adjusted EPS (cent)24.820.521.0%
Leverage (times)1.551.475.4%

Key Observations:

  • Revenue increased by 11.0% from 2024 to 2025, driven by strong volume growth across all divisions.
  • Gross Profit grew by 7.0%, with organic growth of 8.9%, the fastest rate since IPO.
  • EBITDA increased by 6.0%, with organic EBITDA growth of 9.0%.
  • Net bank debt increased by 15.9%, resulting in a higher leverage ratio of 1.55 times in 2025 compared to 1.47 times in 2024.
  • Adjusted EPS grew by 21.0%, reflecting strong business performance and the positive impact of lower finance costs and share buybacks.
This table provides a clear comparison of key financial metrics and debt between 2024 and 2025 for Uniphar PLC. The observations highlight the company's strong revenue and profit growth, as well as the increase in debt and leverage ratio.
CRDA logo
Results 06:01
CRDA

Results for the year ended 31 December 2025

Croda International PLC

**Summary of Croda International PLCs Final Results for the Year Ended 31 December 2025**
Croda International PLC, a leading specialty chemicals company, announced its final results for the year ended 31 December 2025, highlighting encouraging progress in delivering its growth and returns strategy despite an uncertain trading environment.
**Financial Highlights**
**Sales Growth** Group sales increased by 4.4% to £1,699.4 million, with a 6.6% growth at constant currency. Consumer Care and Life Sciences segments led the growth, with sales up 8% in both segments.
**Adjusted Operating Profit** Adjusted operating profit rose by 7.9% to £295.3 million at constant currency, driven by improved profitability in Consumer Care and Life Sciences.
**Adjusted Profit Before Tax** Adjusted profit before tax increased by 8.4% to £276.2 million, or £282.0 million at constant currency.
**Dividend** The full-year dividend was increased by 1p to 111p per share.
**Business Performance**
**Consumer Care** Sales grew by 8% at constant currency, with strong performance in Fragrances and Flavours (F&F), Beauty Actives, and Beauty Care.
**Life Sciences** Sales increased by 8% at constant currency, driven by growth in Crop Protection and Pharma.
**Industrial Specialties** Sales declined by 2% at constant currency due to lower sales volumes.
**Strategic Progress**
**Innovation** Croda refocused its innovation efforts, introducing a new rigorous framework and reallocating R&D resources to prioritize customer-centric innovation.
**Customer Experience** The company improved customer experience through tailored solutions, bespoke service packages, and regionalization of claims testing and formulation support.
**Transformation Program** Crodas transformation program delivered £28 million in gross benefits in 2025, with a target of £100 million in total annualized benefits by 2028.
**Financial Framework to 2028**
Croda set out a new financial framework to 2028, targeting
**Sales Growth** 3-6% organic sales growth CAGR
**Adjusted Operating Margin** >20% by 2028
**Free Cash Flow-to-Sales Ratio** >12% by 2028
**Return on Invested Capital (ROIC)** >10% by 2028
**2026 Outlook**
For 2026Croda expects
**Group Organic Sales Growth** Within the 3-6% range
**Adjusted Operating Margin** Further increase driven by improving profitability in Consumer Care and Life Sciences
**Adjusted Operating Profit** In line with current market expectations at constant currency
**Conclusion**
Croda International PLC demonstrated resilience and progress in 2025, delivering sales growth, improved profitability, and strategic advancements despite market challenges. The companys financial framework to 2028 and 2026 outlook reflect its confidence in achieving sustainable growth, enhanced profitability, and improved returns on capital.
Here is an HTML table comparing the financials and debt year on year for Croda International PLC based on the provided text:
Metric2025 (£m)2024 (£m)Change
Sales1,699.41,628.14.4%
EBITDA396.6378.35.0%
Operating Profit295.3279.75.6%
Profit Before Tax276.2260.06.2%
Free Cash Flow161.6169.6(4.7%)
Net Debt523.8532.3(1.6%)
**Key Observations:** * **Sales Growth:** Croda International PLC experienced a 4.4% increase in sales from 2024 to 2025, reaching £1,699.4 million. * **EBITDA and Operating Profit:** Both EBITDA and operating profit showed growth, with EBITDA increasing by 5.0% and operating profit by 5.6%. * **Profit Before Tax:** Profit before tax also increased by 6.2%, indicating improved profitability. * **Free Cash Flow:** Free cash flow decreased slightly by 4.7%, but remained positive at £161.6 million. * **Net Debt Reduction:** The company successfully reduced its net debt by 1.6%, from £532.3 million in 2024 to £523.8 million in 2025. This table provides a concise overview of Croda International PLC's financial performance and debt position, highlighting areas of growth and improvement.
CGEO logo
Results 06:01
CGEO

Final Results

Georgia Capital PLC

**Summary**
Georgia Capital PLC, a London-listed investment entity, reported strong financial results for the fourth quarter (4Q25) and full year (FY25) of 2025. Key highlights include
**Net Asset Value (NAV) Growth** NAV per share increased by 14.1% quarter-on-quarter (q-o-q) in 4Q25 and 61.2% year-on-year (y-o-y) in FY25, driven by portfolio value growth, share buybacks, and strong operating performance across private portfolio companies.
**Portfolio Performance** The total portfolio value reached GEL 5.1 billion in 4Q25, up 9.4% q-o-q. Listed portfolio value increased by 14.9% q-o-q, primarily due to Lion Finance Groups share price appreciation. Private portfolio value grew by 4.5% q-o-q, led by value creation, investments, and dividend payments.
**Private Portfolio Companies** Large private portfolio companies, including retail (pharmacy), insurance, and healthcare services, delivered outstanding operational results. Aggregated revenues and EBITDA increased by 11.8% and 17.8% y-o-y, respectively, in 4Q25.
**Lion Finance Group** Lion Finance Groups share price rose by 21.6% q-o-q in 4Q25 and 97.5% y-o-y in FY25, contributing significantly to the listed portfolios value creation.
**Share Buybacks** Georgia Capital completed a US$ 50 million share buyback and cancellation program in January 2026, repurchasing 1.5 million shares. A new US$ 50 million share buyback program was launched in February 2026.
**Net Capital Commitment (NCC) Ratio** The NCC ratio improved to a record low of 2.3% in 4Q25, reflecting strong cash generation and portfolio value growth.
**Financial Performance** Adjusted IFRS net income was GEL 598.9 million in 4Q25 and GEL 1,870.4 million in FY25. Gross operating income increased by 15.3% y-o-y in FY25, primarily due to dividend collections.
**Valuation** Independent valuation assessments were performed for retail (pharmacy), insurance, healthcare services, renewable energy, and education businesses, using income and market approaches.
**Outlook** Georgia Capital expects continued robust NAV per share growth, driven by Lion Finance Groups performance, private portfolio companies growth, deleveraging, and share buybacks.
**Key Financials (GEL 000unless otherwise noted):**
NAV per share: GEL 154.68 (4Q25)up 14.1% q-o-q and 61.2% y-o-y
Total portfolio value: GEL 5074885 (4Q25)up 9.4% q-o-q and 34.9% y-o-y
Adjusted IFRS net income: GEL 598877 (4Q25)up 37.5% y-o-y
GEL 1870441 (FY25)up NMF y-o-y
Dividend income: GEL 57692 (4Q25)up NMF y-o-y
GEL 225534 (FY25)up 11.8% y-o-y
**Key Ratios**
NCC ratio2.3% (4Q25), down 3.1 ppts q-o-q and 10.5 ppts y-o-y
Net debt to EBITDA leverage ratio (retail pharmacy): 1.3x (31-Dec-25)
Combined ratio (P&C insurance)90.9% (4Q25), up 1.0 ppt y-o-y
EBITDA margin (healthcare servicesexcl. IFRS 16): 19.7% (4Q25)up 0.4 ppts y-o-y
**Key Developments**
Completion of US$ 50 million share buyback program and launch of a new program
Strong performance across private portfolio companies, particularly in retail, insurance, and healthcare services
Continued growth and value creation from Lion Finance Group
Improved NCC ratio, reflecting strong cash generation and portfolio value growth
Successful social bond issuance by healthcare services business
**Outlook**
Georgia Capital expects to maintain its strong performance, driven by
Lion Finance Groups exceptional performance in Georgia and Armenia
Robust growth across private portfolio companies
Significant deleveraging at the holding level
Strong cash generation, enabling share buybacks and capital returns
The company remains well-positioned to capitalize on its portfolios growth potential and deliver attractive returns to shareholders.
Here is a comparison of the financials and debt year on year for Georgia Capital PLC, presented as an HTML table:
MetricDec-24Dec-25Change
NAV per share (GEL)95.95154.6861.2%
NAV per share (GBP)27.1442.4456.4%
Net Asset Value (NAV)3,609,0135,194,52743.9%
Cash, liquid funds and accrued dividends278,237239,801-13.8%
Gross debt(432,662)(139,128)-67.8%
Net debt(154,425)102,909NMF
NCC ratio12.8%2.3%-10.5 ppts
Total portfolio value3,761,4905,074,88534.9%
Net income350,3241,870,441NMF
**Notes:** * NMF = Not Meaningful (due to significant changes or non-comparable figures) * The table compares key financial metrics between December 2024 (Dec-24) and December 2025 (Dec-25) * Metrics include NAV per share, Net Asset Value, cash and debt positions, NCC ratio, total portfolio value, and net income * The "Change" column shows the percentage change between Dec-24 and Dec-25 * The table highlights significant improvements in NAV, portfolio value, and net income, as well as a substantial reduction in gross debt and NCC ratio
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TR1 30 news titles 30
EMVC logo
TR1 11:39
EMVC

TR-1

EMV Capital plc

TR1 Buy
FDR logo
TR1 10:11
FDR

Holding(s) in Company

First Development Resources Plc

TR1 Buy
['First Equity Limited', '4.849390', '3.448455']
ZEG logo
TR1 06:01
ZEG

Holding(s) in Company

Zegona Communications Plc

TR1 Buy
['Thornburg Investment Management, Inc.', '14.950000', '15.000000']
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Updates 12 news titles 12
BRIG logo
Updates 14:29
BRIG

Portfolio Update

BlackRock Income and Growth Investment Trust plc

**SummaryBlackRock Income & Growth Investment Trust PLC Portfolio Update (February 24, 2026)**
BlackRock Income & Growth Investment Trust PLC released its unaudited portfolio update as of January 31, 2025, highlighting strong performance across various timeframes. The trust’s share price and net asset value (NAV) outperformed the FTSE All-Share Total Return Index over one, three, and five years, with gains of 19.2% and 13.7% (NAV) in the past year, respectively. Since BlackRock took over management in April 2012, the trust has delivered 183.8% (share price) and 186.6% (NAV) returns.
**Key Metrics (as of January 312025):**
**Net Asset Value (NAV)** 253.56p (capital only), 259.61p (cum income).
**Share Price** 230.00p, trading at an 11.4% discount to cum-income NAV.
**Total Assets** £54.7 million.
**Gearing:** 4.0%within the 0-20% range.
**Net Yield** 3.3%, including the 2025 final dividend of 5.00p per share.
**Ongoing Charges** Capped at 1.15%.
**Sector and Country Allocation**
The portfolio is heavily weighted towards UK equities (89.8%), with top sectors including Banks (13.0%), Pharmaceuticals & Biotechnology (8.7%), and Non-equity Investment Instruments (6.9%). Top holdings include AstraZeneca (7.6%), Standard Chartered (4.5%), and Lloyds Banking Group (4.5%).
**Performance Drivers**
**Positive Contributors** Holdings in Ashmore, Great Portland Estates, and Oxford Instruments boosted performance, driven by strong inflows, leasing updates, and trading performance.
**Negative Contributors** Overweight positions in RELX (AI disruption concerns) and ICG (valuation headwinds), as well as the absence of Glencore (merger speculation and strong production results), detracted from returns.
**Portfolio Changes**
**New Positions** Cranswick (UK food producer) and Eaton (US industrial electrification equipment provider) were added for their growth potential.
**Sales/Trims** Compass was sold due to low yield, and BAE Systems was trimmed in favor of Babcock.
**Market Outlook**
The trust anticipates continued volatility driven by geopolitical uncertainty, interest rate expectations, and thematic trends in AI, defense, and financials. Despite challenges, opportunities are emerging in undervalued UK equities, resilient growth stories, and turnaround cases. BlackRock remains focused on cash-generative businesses with competitive advantages to deliver long-term returns.
**Conclusion**
BlackRock Income & Growth Investment Trust PLC demonstrated robust performance, strategic portfolio adjustments, and a cautious yet opportunistic outlook, positioning itself to navigate market volatility and capitalize on emerging opportunities.
Below is the HTML table code comparing the financials and debt (gearing) year-on-year based on the provided text. Since the text only provides data for a single year (as of January 2025), I’ve structured the table to reflect the available information and left the previous year’s column empty for clarity.
MetricAs of January 2024 (Not Available)As of January 2025
Net Asset Value (Capital Only)253.56p
Net Asset Value (Cum Income)259.61p
Share Price230.00p
Total Assets (Including Income)£54.7m
Discount to Cum-Income NAV11.4%
Gearing4.0%
Net Yield3.3%
Ordinary Shares in Issue18,753,794
Gearing Range (as a % of Net Assets)0-20%
Ongoing Charges1.15%
### Notes: 1. **Year-on-Year Comparison**: Since the text only provides data for January 2025, the table includes a placeholder for January 2024 data, which is not available. 2. **Metrics**: The table includes key financials such as Net Asset Value, Share Price, Total Assets, Gearing, and Ongoing Charges. 3. **Gearing**: Gearing is the only debt-related metric provided in the text, reflecting the level of borrowing relative to net assets. If historical data becomes available, the table can be updated accordingly.
OXB logo
Updates 06:04
OXB

Full year Trading Update and Notice of Results

Oxford BioMedica PLC

**Summary**
Oxford Biomedica PLC (OXB) released a full-year trading update for 2025, highlighting strong financial performance and strategic progress. Key points include
1. **Revenue Growth**FY 2025 revenues are expected to reach £166-169 million, a 30% increase from 2024 and nearly 90% growth since 2023, driven by sustained demand for viral vector services and operational efficiency.
2. **EBITDA Profitability**OXB achieved EBITDA profitability in 2025, with mid-to-high single-digit £ million Operating EBITDA, including a non-recurring gain from the Durham, NC acquisition. Underlying EBITDA (excluding the acquisition) is in line with guidance at low single-digit £ million.
3. **Contracted Orders**The contracted value of client orders increased by 20% to £224 million, reflecting strong demand from existing and new clients.
4. **Financial Position**OXB strengthened its balance sheet with a £60 million equity raise and a new $125 million loan facility, supporting capacity expansion and growth initiatives.
5. **Future Outlook**The company reiterated its guidance, expecting FY 2026 revenues of £220-240 million, with 25-30% annual growth in 2027 and 2028. EBITDA margins are projected to exceed 10% in 2026 and reach at least 20% in 2027, with long-term potential to approach 30%.
6. **Preliminary Results**OXB will announce its preliminary results for 2025 on March 26, 2026, with a virtual analyst briefing led by CEO Dr. Frank Mathias.
The update underscores OXBs successful execution of its CDMO strategy, strong commercial momentum, and optimism for continued growth and profitability in the coming years.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricFY 2024FY 2025 (Expected)Change
Revenues (£ million)128.8166-169 (168-171 CC)~30% increase
Operating EBITDA (£ million)(15.3) lossMid-to-high single-digit (CC)Pivot to profitability
Underlying Operating EBITDA (£ million)N/ALow single-digit (CC)N/A
Contracted Value of Client Orders (£ million)18622420% increase
Revenue Backlog (£ million)~150~204~36% increase
Gross Cash Position (£ million)N/A96.9N/A
Net Cash Position (£ million)N/A55.4N/A
Debt (Loan Facility Drawn, $ million)N/A60 (of which $50 million used to repay existing facility)N/A
### Key Notes: 1. **Revenues**: FY 2025 revenues are expected to increase by ~30% compared to FY 2024. 2. **Operating EBITDA**: FY 2025 is expected to pivot to mid-to-high single-digit profitability from a loss in FY 2024. 3. **Contracted Value of Client Orders**: Increased by 20% year-on-year. 4. **Revenue Backlog**: Increased by ~36% year-on-year. 5. **Cash Position**: FY 2025 shows a strengthened balance sheet with gross cash of £96.9 million and net cash of £55.4 million. 6. **Debt**: A new loan facility of $125 million was entered, with $60 million drawn, $50 million of which was used to repay existing debt. This table provides a clear year-on-year comparison of key financials and debt metrics.
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Trading Floor
2026-02-24
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2026-02-24 18 picks
88 Trading Edge
BRIG
BlackRock Income and Growth Investment Trust plc
Positive
Portfolio Update
**Summary: BlackRock Income & Growth Investment Trust PLC Portfolio Update (February 24, 2026)** BlackRock Income & Growth Investment Trust PLC released its unaudited portfolio update as of January 31, 2025, highlighting strong performance across various timeframes. The trust’s share price and net asset value (NAV) outperformed the FTSE All-Share Total Return Index over one, three, and five years, with gains of 19.2% and 13.7% (NAV) in the past year, respectively. Since BlackRock took over management in April 2012, the trust has delivered 183.8% (share price) and 186.6% (NAV) returns. **Key Metrics (as of January 31, 2025):** - **Net Asset Value (NAV):** 253.56p (capital only), 259.61p (cum income). - **Share Price:** 230.00p, trading at an 11.4% discount to cum-income NAV. - **Total Assets:** £54.7 million. - **Gearing:** 4.0%, within the 0-20% range. - **Net Yield:** 3.3%, including the 2025 final dividend of 5.00p per share. - **Ongoing Charges:** Capped at 1.15%. **Sector and Country Allocation:** The portfolio is heavily weighted towards UK equities (89.8%), with top sectors including Banks (13.0%), Pharmaceuticals & Biotechnology (8.7%), and Non-equity Investment Instruments (6.9%). Top holdings include AstraZeneca (7.6%), Standard Chartered (4.5%), and Lloyds Banking Group (4.5%). **Performance Drivers:** - **Positive Contributors:** Holdings in Ashmore, Great Portland Estates, and Oxford Instruments boosted performance, driven by strong inflows, leasing updates, and trading performance. - **Negative Contributors:** Overweight positions in RELX (AI disruption concerns) and ICG (valuation headwinds), as well as the absence of Glencore (merger speculation and strong production results), detracted from returns. **Portfolio Changes:** - **New Positions:** Cranswick (UK food producer) and Eaton (US industrial electrification equipment provider) were added for their growth potential. - **Sales/Trims:** Compass was sold due to low yield, and BAE Systems was trimmed in favor of Babcock. **Market Outlook:** The trust anticipates continued volatility driven by geopolitical uncertainty, interest rate expectations, and thematic trends in AI, defense, and financials. Despite challenges, opportunities are emerging in undervalued UK equities, resilient growth stories, and turnaround cases. BlackRock remains focused on cash-generative businesses with competitive advantages to deliver long-term returns. **Conclusion:** BlackRock Income & Growth Investment Trust PLC demonstrated robust performance, strategic portfolio adjustments, and a cautious yet opportunistic outlook, positioning itself to navigate market volatility and capitalize on emerging opportunities.
**SummaryBlackRock Income & Growth Investment Trust PLC Portfolio Update (February 24, 2026)**
BlackRock Income & Growth Investment Trust PLC released its unaudited portfolio update as of January 31, 2025, highlighting strong performance across various timeframes. The trust’s share price and net asset value (NAV) outperformed the FTSE All-Share Total Return Index over one, three, and five years, with gains of 19.2% and 13.7% (NAV) in the past year, respectively. Since BlackRock took over management in April 2012, the trust has delivered 183.8% (share price) and 186.6% (NAV) returns.
**Key Metrics (as of January 312025):**
**Net Asset Value (NAV)** 253.56p (capital only), 259.61p (cum income).
**Share Price** 230.00p, trading at an 11.4% discount to cum-income NAV.
**Total Assets** £54.7 million.
**Gearing:** 4.0%within the 0-20% range.
**Net Yield** 3.3%, including the 2025 final dividend of 5.00p per share.
**Ongoing Charges** Capped at 1.15%.
**Sector and Country Allocation**
The portfolio is heavily weighted towards UK equities (89.8%), with top sectors including Banks (13.0%), Pharmaceuticals & Biotechnology (8.7%), and Non-equity Investment Instruments (6.9%). Top holdings include AstraZeneca (7.6%), Standard Chartered (4.5%), and Lloyds Banking Group (4.5%).
**Performance Drivers**
**Positive Contributors** Holdings in Ashmore, Great Portland Estates, and Oxford Instruments boosted performance, driven by strong inflows, leasing updates, and trading performance.
**Negative Contributors** Overweight positions in RELX (AI disruption concerns) and ICG (valuation headwinds), as well as the absence of Glencore (merger speculation and strong production results), detracted from returns.
**Portfolio Changes**
**New Positions** Cranswick (UK food producer) and Eaton (US industrial electrification equipment provider) were added for their growth potential.
**Sales/Trims** Compass was sold due to low yield, and BAE Systems was trimmed in favor of Babcock.
**Market Outlook**
The trust anticipates continued volatility driven by geopolitical uncertainty, interest rate expectations, and thematic trends in AI, defense, and financials. Despite challenges, opportunities are emerging in undervalued UK equities, resilient growth stories, and turnaround cases. BlackRock remains focused on cash-generative businesses with competitive advantages to deliver long-term returns.
**Conclusion**
BlackRock Income & Growth Investment Trust PLC demonstrated robust performance, strategic portfolio adjustments, and a cautious yet opportunistic outlook, positioning itself to navigate market volatility and capitalize on emerging opportunities.
Below is the HTML table code comparing the financials and debt (gearing) year-on-year based on the provided text. Since the text only provides data for a single year (as of January 2025), I’ve structured the table to reflect the available information and left the previous year’s column empty for clarity.
MetricAs of January 2024 (Not Available)As of January 2025
Net Asset Value (Capital Only)253.56p
Net Asset Value (Cum Income)259.61p
Share Price230.00p
Total Assets (Including Income)£54.7m
Discount to Cum-Income NAV11.4%
Gearing4.0%
Net Yield3.3%
Ordinary Shares in Issue18,753,794
Gearing Range (as a % of Net Assets)0-20%
Ongoing Charges1.15%
### Notes: 1. **Year-on-Year Comparison**: Since the text only provides data for January 2025, the table includes a placeholder for January 2024 data, which is not available. 2. **Metrics**: The table includes key financials such as Net Asset Value, Share Price, Total Assets, Gearing, and Ongoing Charges. 3. **Gearing**: Gearing is the only debt-related metric provided in the text, reflecting the level of borrowing relative to net assets. If historical data becomes available, the table can be updated accordingly.
14:29
Open Terminal ↗ RNS Source
80 Positive
AHT
Ashtead Group PLC
Positive
Court Approval Of The Scheme Of Arrangement
**Summary:** Ashtead Group PLC announced on February 24, 2026, that the Court has approved the Scheme of Arrangement, a plan to establish Sunbelt Rentals Holdings, Inc., a new Delaware corporation, as the holding company of the Ashtead group. This move is part of the companys proposed new U.S. primary listing. The Scheme, initially proposed in February 2025 and approved by shareholders in June 2025, is conditional on the Court Order being delivered to the Registrar of Companies by February 27, 2026. Key upcoming events include: - Publication of the U.K. Prospectus on February 25, 2026. - Last day of dealings in Ashtead shares on February 27, 2026. - Scheme Effective Time at 10:00 p.m. UK time on February 27, 2026. - De-listing of Ashtead shares and listing of Sunbelt Rentals shares on March 2, 2026, on both the London and New York stock exchanges. - Dispatch of statements of entitlement and DRS advice, as well as any cash due to shareholders, within 14 days after the New York Listing Effective Time. The company will provide updates if any key dates change and will make a further announcement once the Scheme becomes effective. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are provided for enquiries.
**Summary**
Ashtead Group PLC announced on February 24, 2026, that the Court has approved the Scheme of Arrangement, a plan to establish Sunbelt Rentals Holdings, Inc., a new Delaware corporation, as the holding company of the Ashtead group. This move is part of the companys proposed new U.S. primary listing. The Scheme, initially proposed in February 2025 and approved by shareholders in June 2025, is conditional on the Court Order being delivered to the Registrar of Companies by February 27, 2026.
Key upcoming events include
Publication of the U.K. Prospectus on February 25, 2026.
Last day of dealings in Ashtead shares on February 27, 2026.
Scheme Effective Time at 1000 p.m. UK time on February 27, 2026.
De-listing of Ashtead shares and listing of Sunbelt Rentals shares on March 2, 2026, on both the London and New York stock exchanges.
Dispatch of statements of entitlement and DRS advice, as well as any cash due to shareholders, within 14 days after the New York Listing Effective Time.
The company will provide updates if any key dates change and will make a further announcement once the Scheme becomes effective. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are provided for enquiries.
Approvals
13:19
Open Terminal ↗ RNS Source
93 Strong Beat
FERG
Ferguson Plc
Positive
Ferguson Reports Strong Calendar 2025 Results and Issues 2026 Guidance
**Summary of Ferguson Enterprises Inc.s 2025 Financial Results and 2026 Guidance** Ferguson Enterprises Inc. reported strong financial results for the calendar year 2025, highlighting robust growth, improved margins, and strategic investments. Key highlights include: - **Revenue Growth**: Sales increased by 5.0% to $31.3 billion, driven by organic growth of 4.5% and acquisition growth of 1.0%. - **Margin Expansion**: Gross margin improved to 31.0%, up 70 basis points, while operating margin rose to 8.9%, up 40 basis points. Adjusted operating margin was 9.6%, up 50 basis points. - **Earnings Growth**: Diluted earnings per share (EPS) increased by 24.2% to $10.16, with adjusted EPS up 13.4% to $10.58. - **Cash Generation**: Operating cash flow was strong at $2.2 billion. - **Dividends and Share Repurchases**: Declared dividends of $3.38 per share and repurchased $0.9 billion in shares, with $0.6 billion remaining under the current repurchase program. - **Acquisitions**: Invested $276 million in eight acquisitions, adding annualized revenue of over $300 million. - **Balance Sheet Strength**: Net debt to adjusted EBITDA ratio remained healthy at 1.1x. **2026 Guidance**: - **Net Sales**: Low to mid-single digit growth. - **Adjusted Operating Margin**: 9.4% to 9.8%. - **Interest Expense**: Approximately $200 million. - **Capital Expenditures**: $350 to $400 million. - **Adjusted Effective Tax Rate**: Around 26%. **Strategic Focus**: Ferguson continues to focus on organic growth, strategic acquisitions, and returning capital to shareholders. The company is well-positioned to capitalize on long-term growth drivers in both residential and non-residential markets, particularly in water infrastructure, large capital projects, and climate & comfort solutions. **Leadership Changes**: Brian Lantz, Vice President of Investor Relations and Communications, will retire on May 1, 2026. Pete Kennedy has been promoted to Vice President of Investor Relations, and Christine Dwyer to Vice President of Communications and Public Relations. **Conclusion**: Ferguson delivered a strong performance in 2025, with continued market share gains and operational efficiency. The company remains optimistic about its growth prospects in 2026, supported by its scale-advantaged business model and strategic investments.
**Summary of Ferguson Enterprises Inc.s 2025 Financial Results and 2026 Guidance**
Ferguson Enterprises Inc. reported strong financial results for the calendar year 2025, highlighting robust growth, improved margins, and strategic investments. Key highlights include
**Revenue Growth**Sales increased by 5.0% to $31.3 billion, driven by organic growth of 4.5% and acquisition growth of 1.0%.
**Margin Expansion**Gross margin improved to 31.0%, up 70 basis points, while operating margin rose to 8.9%, up 40 basis points. Adjusted operating margin was 9.6%, up 50 basis points.
**Earnings Growth**Diluted earnings per share (EPS) increased by 24.2% to $10.16, with adjusted EPS up 13.4% to $10.58.
**Cash Generation**Operating cash flow was strong at $2.2 billion.
**Dividends and Share Repurchases**Declared dividends of $3.38 per share and repurchased $0.9 billion in shares, with $0.6 billion remaining under the current repurchase program.
**Acquisitions**Invested $276 million in eight acquisitions, adding annualized revenue of over $300 million.
**Balance Sheet Strength**Net debt to adjusted EBITDA ratio remained healthy at 1.1x.
**2026 Guidance**
**Net Sales**Low to mid-single digit growth.
**Adjusted Operating Margin**9.4% to 9.8%.
**Interest Expense**Approximately $200 million.
**Capital Expenditures**$350 to $400 million.
**Adjusted Effective Tax Rate**Around 26%.
**Strategic Focus**
Ferguson continues to focus on organic growth, strategic acquisitions, and returning capital to shareholders. The company is well-positioned to capitalize on long-term growth drivers in both residential and non-residential markets, particularly in water infrastructure, large capital projects, and climate & comfort solutions.
**Leadership Changes**
Brian Lantz, Vice President of Investor Relations and Communications, will retire on May 1, 2026. Pete Kennedy has been promoted to Vice President of Investor Relations, and Christine Dwyer to Vice President of Communications and Public Relations.
**Conclusion**
Ferguson delivered a strong performance in 2025, with continued market share gains and operational efficiency. The company remains optimistic about its growth prospects in 2026, supported by its scale-advantaged business model and strategic investments.
Here’s an HTML table comparing the year-on-year financials and debt for Ferguson Enterprises Inc. based on the provided text:
Metric2024 (in millions)2025 (in millions)Change
Net Sales$29,818$31,316+5.0%
Gross Margin30.3%31.0%+70 bps
Operating Profit$2,528$2,789+10.3%
Operating Margin8.5%8.9%+40 bps
Diluted Earnings per Share$8.18$10.16+24.2%
Adjusted EBITDA$2,905$3,243+11.6%
Net Debt: Adjusted EBITDA1.2x1.1x-0.1x
Capital Expenditures$328$354+7.9%
Dividends Paid$637$656+3.0%
Share Repurchases$893$902+1.0%
### Key Highlights: - **Net Sales**: Increased by 5.0% from $29.8 billion in 2024 to $31.3 billion in 2025. - **Gross Margin**: Improved by 70 basis points from 30.3% to 31.0%. - **Operating Profit**: Rose by 10.3% from $2.5 billion to $2.8 billion. - **Diluted Earnings per Share**: Surged by 24.2% from $8.18 to $10.16. - **Net Debt to Adjusted EBITDA**: Improved from 1.2x to 1.1x, indicating a stronger balance sheet. - **Capital Expenditures**: Increased by 7.9% from $328 million to $354 million. - **Dividends and Share Repurchases**: Both increased slightly, reflecting continued shareholder returns. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025 for Ferguson Enterprises Inc.
10:46
Open Terminal ↗ RNS Source
80 Positive
CGEO
Georgia Capital PLC
Positive
Commencement of US$ 50 million buyback programme
**Summary:** Georgia Capital PLC announced the commencement of a US$ 50 million share buyback and cancellation programme on February 24, 2026. The programme, approved by the board of directors, will run for nine months, with shares purchased on the open market and treasury shares cancelled monthly. The primary goal is to reduce share capital, with the maximum price per share not exceeding the la<mark style="background-color:yellow">test</mark> reported NAV per share. The programme is authorized to repurchase up to 3,150,275 shares, as approved by shareholders at the 2025 AGM, and complies with FCA Listing Rules and EU Market Abuse Regulations. Numis Securities Limited has been appointed to manage the irrevocable, non-discretionary buyback programme. Further announcements will be made following share repurchases. Georgia Capital focuses on investing in and developing businesses in Georgia, with holdings in retail, insurance, healthcare, and a significant stake in Lion Finance Group PLC. The company holds a BB- credit rating from S&P Global.
**Summary**
Georgia Capital PLC announced the commencement of a US$ 50 million share buyback and cancellation programme on February 24, 2026. The programme, approved by the board of directors, will run for nine months, with shares purchased on the open market and treasury shares cancelled monthly. The primary goal is to reduce share capital, with the maximum price per share not exceeding the la<mark style="background-color:yellow">test</mark> reported NAV per share. The programme is authorized to repurchase up to 3,150,275 shares, as approved by shareholders at the 2025 AGM, and complies with FCA Listing Rules and EU Market Abuse Regulations. Numis Securities Limited has been appointed to manage the irrevocable, non-discretionary buyback programme. Further announcements will be made following share repurchases. Georgia Capital focuses on investing in and developing businesses in Georgia, with holdings in retail, insurance, healthcare, and a significant stake in Lion Finance Group PLC. The company holds a BB- credit rating from S&P Global.
BuyBack
06:11
Open Terminal ↗ RNS Source
93 Strong Beat
MCB
McBride plc
Positive
Interim results for 6M ended 31 December 2025
**Summary of McBride PLC Interim Results for 6M Ended 31 December 2025** **Financial Performance** - **Revenue**: £475.2 million, up 0.8% year-on-year (down 2.1% on a constant currency basis), driven by volume growth in private label and contract manufacturing. - **Adjusted Operating Profit**: £31.5 million, slightly down from £32.0 million in 2024, with margins maintained at 6.6%. - **Adjusted EBITDA**: £41.8 million, stable at 8.8% of revenue, reflecting operational efficiency and cost control. - **Profit Before Taxation**: £23.0 million, down from £25.7 million in 2024, impacted by exceptional items. - **Adjusted Basic EPS**: 10.8p, down from 11.9p in 2024, due to one-off tax effects in the prior year. - **Net Debt**: £120.6 million, up slightly from £117.6 million, despite £12.9 million in shareholder returns (dividends, share buybacks, and Employee Benefit Trust purchases). **Operational Highlights** - **Volume Growth**: Overall volumes up 0.4%, with private label volumes increasing by 0.9% and contract manufacturing volumes by 1.4%. - **SAP S/4HANA Implementation**: Successful launch of Wave 1 in the UK, with the next wave expected across European sites in the next financial year. - **Transformation Agenda**: On track to deliver £50 million in net benefits over five years, with cumulative benefits of £8.7 million as of 31 December 2025. - **Sustainability**: Progress on decarbonization, renewable energy adoption, and employee training in climate literacy. **Strategic Initiatives** - **Shareholder Returns**: Reinstated dividends, share buyback program, and EBT purchases to reduce equity dilution. - **Customer Partnerships**: Strengthened relationships and secured a healthy pipeline of new contracts for the second half of the year. - **Operational Efficiency**: Focus on automation, cost optimization, and productivity improvements across manufacturing sites. **Outlook** - **Second Half Expectations**: In line with expectations, with good momentum driven by new contract wins and market share growth in private label. - **Market Conditions**: Private label market share continues to grow, with material costs expected to remain flat and overhead costs under control. - **Full-Year Guidance**: On track to meet analysts expectations for adjusted operating profit of £64.7 million. **Divisional Performance** - **Liquids**: Revenue stable at £269.0 million, with adjusted operating profit of £17.7 million (margin 6.6%). - **Unit Dosing**: Revenue down 2.0% to £115.7 million, but adjusted operating profit improved to £12.5 million (margin 10.8%). - **Powders**: Revenue up 2.0% to £44.9 million, with adjusted operating profit of £3.0 million (margin 6.7%). - **Aerosols**: Revenue up 18.1% to £33.9 million, with adjusted operating profit of £2.1 million (margin 6.2%). - **Asia Pacific**: Revenue stable at £11.7 million, with adjusted operating profit of £0.5 million (margin 4.3%). **Conclusion** McBride PLC delivered a solid first-half performance, maintaining profitability and operational efficiency despite inflationary pressures. The company remains focused on strategic growth, shareholder returns, and sustainability, with a positive outlook for the remainder of the financial year and beyond.
**Summary of McBride PLC Interim Results for 6M Ended 31 December 2025**
**Financial Performance**
**Revenue**£475.2 million, up 0.8% year-on-year (down 2.1% on a constant currency basis), driven by volume growth in private label and contract manufacturing.
**Adjusted Operating Profit**£31.5 million, slightly down from £32.0 million in 2024, with margins maintained at 6.6%.
**Adjusted EBITDA**£41.8 million, stable at 8.8% of revenue, reflecting operational efficiency and cost control.
**Profit Before Taxation**£23.0 million, down from £25.7 million in 2024, impacted by exceptional items.
**Adjusted Basic EPS**10.8p, down from 11.9p in 2024, due to one-off tax effects in the prior year.
**Net Debt**£120.6 million, up slightly from £117.6 million, despite £12.9 million in shareholder returns (dividends, share buybacks, and Employee Benefit Trust purchases).
**Operational Highlights**
**Volume Growth**Overall volumes up 0.4%, with private label volumes increasing by 0.9% and contract manufacturing volumes by 1.4%.
**SAP S/4HANA Implementation**Successful launch of Wave 1 in the UK, with the next wave expected across European sites in the next financial year.
**Transformation Agenda**On track to deliver £50 million in net benefits over five years, with cumulative benefits of £8.7 million as of 31 December 2025.
**Sustainability**Progress on decarbonization, renewable energy adoption, and employee training in climate literacy.
**Strategic Initiatives**
**Shareholder Returns**Reinstated dividends, share buyback program, and EBT purchases to reduce equity dilution.
**Customer Partnerships**Strengthened relationships and secured a healthy pipeline of new contracts for the second half of the year.
**Operational Efficiency**Focus on automation, cost optimization, and productivity improvements across manufacturing sites.
**Outlook**
**Second Half Expectations**In line with expectations, with good momentum driven by new contract wins and market share growth in private label.
**Market Conditions**Private label market share continues to grow, with material costs expected to remain flat and overhead costs under control.
**Full-Year Guidance**On track to meet analysts expectations for adjusted operating profit of £64.7 million.
**Divisional Performance**
**Liquids**Revenue stable at £269.0 million, with adjusted operating profit of £17.7 million (margin 6.6%).
**Unit Dosing**Revenue down 2.0% to £115.7 million, but adjusted operating profit improved to £12.5 million (margin 10.8%).
**Powders**Revenue up 2.0% to £44.9 million, with adjusted operating profit of £3.0 million (margin 6.7%).
**Aerosols**Revenue up 18.1% to £33.9 million, with adjusted operating profit of £2.1 million (margin 6.2%).
**Asia Pacific**Revenue stable at £11.7 million, with adjusted operating profit of £0.5 million (margin 4.3%).
**Conclusion**
McBride PLC delivered a solid first-half performance, maintaining profitability and operational efficiency despite inflationary pressures. The company remains focused on strategic growth, shareholder returns, and sustainability, with a positive outlook for the remainder of the financial year and beyond.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2025 (£m)2024 (£m)Change (£m)Change (%)
Revenue475.2471.43.80.8%
Adjusted Operating Profit31.532.0(0.5)(1.6%)
Operating Profit28.331.0(2.7)(8.7%)
Adjusted EBITDA41.841.70.10.2%
Adjusted Profit Before Taxation26.226.7(0.5)(1.9%)
Profit Before Taxation23.025.7(2.7)(10.5%)
Net Debt120.6117.63.02.6%
**Key Observations:** 1. **Revenue Growth:** Revenue increased slightly by 0.8% from £471.4m in 2024 to £475.2m in 2025. 2. **Profitability:** Adjusted operating profit decreased marginally by 1.6%, while operating profit saw a more significant decline of 8.7%. 3. **EBITDA Stability:** Adjusted EBITDA remained relatively stable, increasing by only 0.2%. 4. **Net Debt Increase:** Net debt increased by £3.0m (2.6%) from £117.6m in 2024 to £120.6m in 2025. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025.
06:06
Open Terminal ↗ RNS Source
88 Trading Edge
OXB
Oxford BioMedica PLC
Positive
Full year Trading Update and Notice of Results
**Summary:** Oxford Biomedica PLC (OXB) released a full-year trading update for 2025, highlighting strong financial performance and strategic progress. Key points include: 1. **Revenue Growth**: FY 2025 revenues are expected to reach £166-169 million, a 30% increase from 2024 and nearly 90% growth since 2023, driven by sustained demand for viral vector services and operational efficiency. 2. **EBITDA Profitability**: OXB achieved EBITDA profitability in 2025, with mid-to-high single-digit £ million Operating EBITDA, including a non-recurring gain from the Durham, NC acquisition. Underlying EBITDA (excluding the acquisition) is in line with guidance at low single-digit £ million. 3. **Contracted Orders**: The contracted value of client orders increased by 20% to £224 million, reflecting strong demand from existing and new clients. 4. **Financial Position**: OXB strengthened its balance sheet with a £60 million equity raise and a new $125 million loan facility, supporting capacity expansion and growth initiatives. 5. **Future Outlook**: The company reiterated its guidance, expecting FY 2026 revenues of £220-240 million, with 25-30% annual growth in 2027 and 2028. EBITDA margins are projected to exceed 10% in 2026 and reach at least 20% in 2027, with long-term potential to approach 30%. 6. **Preliminary Results**: OXB will announce its preliminary results for 2025 on March 26, 2026, with a virtual analyst briefing led by CEO Dr. Frank Mathias. The update underscores OXBs successful execution of its CDMO strategy, strong commercial momentum, and optimism for continued growth and profitability in the coming years.
**Summary**
Oxford Biomedica PLC (OXB) released a full-year trading update for 2025, highlighting strong financial performance and strategic progress. Key points include
1. **Revenue Growth**FY 2025 revenues are expected to reach £166-169 million, a 30% increase from 2024 and nearly 90% growth since 2023, driven by sustained demand for viral vector services and operational efficiency.
2. **EBITDA Profitability**OXB achieved EBITDA profitability in 2025, with mid-to-high single-digit £ million Operating EBITDA, including a non-recurring gain from the Durham, NC acquisition. Underlying EBITDA (excluding the acquisition) is in line with guidance at low single-digit £ million.
3. **Contracted Orders**The contracted value of client orders increased by 20% to £224 million, reflecting strong demand from existing and new clients.
4. **Financial Position**OXB strengthened its balance sheet with a £60 million equity raise and a new $125 million loan facility, supporting capacity expansion and growth initiatives.
5. **Future Outlook**The company reiterated its guidance, expecting FY 2026 revenues of £220-240 million, with 25-30% annual growth in 2027 and 2028. EBITDA margins are projected to exceed 10% in 2026 and reach at least 20% in 2027, with long-term potential to approach 30%.
6. **Preliminary Results**OXB will announce its preliminary results for 2025 on March 26, 2026, with a virtual analyst briefing led by CEO Dr. Frank Mathias.
The update underscores OXBs successful execution of its CDMO strategy, strong commercial momentum, and optimism for continued growth and profitability in the coming years.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricFY 2024FY 2025 (Expected)Change
Revenues (£ million)128.8166-169 (168-171 CC)~30% increase
Operating EBITDA (£ million)(15.3) lossMid-to-high single-digit (CC)Pivot to profitability
Underlying Operating EBITDA (£ million)N/ALow single-digit (CC)N/A
Contracted Value of Client Orders (£ million)18622420% increase
Revenue Backlog (£ million)~150~204~36% increase
Gross Cash Position (£ million)N/A96.9N/A
Net Cash Position (£ million)N/A55.4N/A
Debt (Loan Facility Drawn, $ million)N/A60 (of which $50 million used to repay existing facility)N/A
### Key Notes: 1. **Revenues**: FY 2025 revenues are expected to increase by ~30% compared to FY 2024. 2. **Operating EBITDA**: FY 2025 is expected to pivot to mid-to-high single-digit profitability from a loss in FY 2024. 3. **Contracted Value of Client Orders**: Increased by 20% year-on-year. 4. **Revenue Backlog**: Increased by ~36% year-on-year. 5. **Cash Position**: FY 2025 shows a strengthened balance sheet with gross cash of £96.9 million and net cash of £55.4 million. 6. **Debt**: A new loan facility of $125 million was entered, with $60 million drawn, $50 million of which was used to repay existing debt. This table provides a clear year-on-year comparison of key financials and debt metrics.
06:04
Open Terminal ↗ RNS Source
80 Positive
ACRM
Acuity RM Group Plc
Positive
Contract win
**Summary:** Acuity RM Group PLC, a cybersecurity software provider specializing in the defense sector, announced a contract win to supply services to Sopra Steria, which serves the British government. The contract, valued at £75,000, involves enhancing the Classic STREAM software platform with automations and additional functionality for a highly sensitive cybersecurity program. This upsell builds on a three-year relationship that has already generated over £250,000 in revenue. The partnership holds strategic significance, as Sopra Steria plans to develop a product based on Classic STREAM to help government and defense clients meet Secure by Design (SbD) cybersecurity requirements. Acuity’s CEO, David Rajakovich, highlighted the potential for material value creation and expressed pride in continuing to serve the UK government’s security needs. While no formal agreement has been finalized, discussions are ongoing, and Acuity anticipates providing further updates. This non-regulatory announcement underscores Acuity’s focus on sustainable growth through organic expansion and strategic partnerships.
**Summary**
Acuity RM Group PLC, a cybersecurity software provider specializing in the defense sector, announced a contract win to supply services to Sopra Steria, which serves the British government. The contract, valued at £75,000, involves enhancing the Classic STREAM software platform with automations and additional functionality for a highly sensitive cybersecurity program. This upsell builds on a three-year relationship that has already generated over £250,000 in revenue.
The partnership holds strategic significance, as Sopra Steria plans to develop a product based on Classic STREAM to help government and defense clients meet Secure by Design (SbD) cybersecurity requirements. Acuity’s CEO, David Rajakovich, highlighted the potential for material value creation and expressed pride in continuing to serve the UK government’s security needs. While no formal agreement has been finalized, discussions are ongoing, and Acuity anticipates providing further updates. This non-regulatory announcement underscores Acuity’s focus on sustainable growth through organic expansion and strategic partnerships.
NewContract
06:01
Open Terminal ↗ RNS Source
80 Positive
ESYS
Essensys PLC
Positive
Recommended Cash Offer
**Summary:** Essensys PLC, a provider of software and technology for flexible workspace operators, has received a recommended cash offer from Essensys Bidco Limited ("Bidco"), a newly incorporated company backed by Mark Furness and members of the Concert Party. The offer values Essensys at approximately £11.3 million, with a cash offer of 17 pence per share, representing a premium of 9.7% to the closing price on November 27, 2025. **Key Points:** - **Offer Details:** The offer is subject to various conditions, including the acceptance of 90% of Essensys shares. Shareholders can choose between the cash offer or an alternative offer of one New Bidco Share for each Essensys share, which does not carry voting rights. - **Rationale:** The offer aims to provide Essensys shareholders with certainty and value, while allowing the company to operate in a private setting, free from short-term public market pressures. This is expected to enable Essensys to focus on long-term strategic goals, customer needs, and product innovation. - **Concert Party:** The Concert Party, including Mark Furness, William Currie, Terry Leahy, and others, currently holds 36.55% of Essensys shares. They believe private ownership will benefit Essensys by reducing financial and administrative burdens and improving access to capital. - **Recommendation:** The Essensys Independent Directors recommend shareholders accept the cash offer, considering it fair and reasonable. They believe the offer provides a certain exit opportunity and facilitates strategic and operational benefits for stakeholders. - **Financing:** The cash offer will be funded through a £10 million secured term loan facility. - **Next Steps:** The offer is expected to become unconditional in the second quarter of 2026, after which Essensys will be re-registered as a private limited company and delisted from AIM. This summary highlights the key aspects of the recommended cash offer for Essensys PLC, emphasizing the offer details, rationale, key players, and expected outcomes.
**Summary**
Essensys PLC, a provider of software and technology for flexible workspace operators, has received a recommended cash offer from Essensys Bidco Limited ("Bidco"), a newly incorporated company backed by Mark Furness and members of the Concert Party. The offer values Essensys at approximately £11.3 million, with a cash offer of 17 pence per share, representing a premium of 9.7% to the closing price on November 27, 2025.
**Key Points**
**Offer Details** The offer is subject to various conditions, including the acceptance of 90% of Essensys shares. Shareholders can choose between the cash offer or an alternative offer of one New Bidco Share for each Essensys share, which does not carry voting rights.
**Rationale** The offer aims to provide Essensys shareholders with certainty and value, while allowing the company to operate in a private setting, free from short-term public market pressures. This is expected to enable Essensys to focus on long-term strategic goals, customer needs, and product innovation.
**Concert Party** The Concert Party, including Mark Furness, William Currie, Terry Leahy, and others, currently holds 36.55% of Essensys shares. They believe private ownership will benefit Essensys by reducing financial and administrative burdens and improving access to capital.
**Recommendation** The Essensys Independent Directors recommend shareholders accept the cash offer, considering it fair and reasonable. They believe the offer provides a certain exit opportunity and facilitates strategic and operational benefits for stakeholders.
**Financing** The cash offer will be funded through a £10 million secured term loan facility.
**Next Steps** The offer is expected to become unconditional in the second quarter of 2026, after which Essensys will be re-registered as a private limited company and delisted from AIM.
This summary highlights the key aspects of the recommended cash offer for Essensys PLC, emphasizing the offer details, rationale, key players, and expected outcomes.
CashOffer
06:01
Open Terminal ↗ RNS Source
80 Positive
INV
The Investment Company plc
Positive
Proposals for the future of the Company
**Summary:** **Investment Company PLC** announced proposals for its future on February 24, 2026, following a review initiated in December 2025. The key elements of the proposals include: 1. **Appointment of a New Portfolio Manager**: Dowgate Wealth Limited will replace Chelverton Asset Management Ltd (CAM) as the portfolio manager, subject to shareholder and regulatory approvals. Dowgate, a boutique wealth manager with £2 billion in assets under management, will lead the Companys portfolio under Jeremy McKeown, supported by their investment team. 2. **New Investment Policy**: The Company will adopt a strategy focused on protecting and growing shareholders real purchasing power through a diversified portfolio of scarce, economically resilient assets. This includes foundational reserves, strategic equity participations, and inflation-protected instruments. 3. **Tender Offer**: Existing shareholders will have the option to exit their investment at a 5% discount to the net asset value, providing liquidity for those who prefer not to remain invested under the new strategy. 4. **Capital Raise**: The Company plans to raise new capital through a placing, offer for subscription, or a matched bargain facility to ensure sufficient scale for the new strategy. 5. **Conditions and Approvals**: Implementation of the proposals is contingent on shareholder, regulatory, and court approvals, as well as successful capital raising. A circular with further details will be published, and the process is expected to complete in the second quarter of 2026. The Board, led by Chairman Ian Dighe, expressed confidence in the proposals, emphasizing the Companys long heritage since 1868 and the need for a modern strategy. Dowgates Ben McKeown highlighted their expertise and commitment to revitalizing the Company for future growth. The proposals are inter-conditional, meaning they will only proceed if implemented in full.
**Summary**
**Investment Company PLC** announced proposals for its future on February 24, 2026, following a review initiated in December 2025. The key elements of the proposals include
1. **Appointment of a New Portfolio Manager**: Dowgate Wealth Limited will replace Chelverton Asset Management Ltd (CAM) as the portfolio manager, subject to shareholder and regulatory approvals. Dowgate, a boutique wealth manager with £2 billion in assets under management, will lead the Companys portfolio under Jeremy McKeown, supported by their investment team.
2. **New Investment Policy**The Company will adopt a strategy focused on protecting and growing shareholders real purchasing power through a diversified portfolio of scarce, economically resilient assets. This includes foundational reserves, strategic equity participations, and inflation-protected instruments.
3. **Tender Offer**Existing shareholders will have the option to exit their investment at a 5% discount to the net asset value, providing liquidity for those who prefer not to remain invested under the new strategy.
4. **Capital Raise**The Company plans to raise new capital through a placing, offer for subscription, or a matched bargain facility to ensure sufficient scale for the new strategy.
5. **Conditions and Approvals**Implementation of the proposals is contingent on shareholder, regulatory, and court approvals, as well as successful capital raising. A circular with further details will be published, and the process is expected to complete in the second quarter of 2026.
The Board, led by Chairman Ian Dighe, expressed confidence in the proposals, emphasizing the Companys long heritage since 1868 and the need for a modern strategy. Dowgates Ben McKeown highlighted their expertise and commitment to revitalizing the Company for future growth. The proposals are inter-conditional, meaning they will only proceed if implemented in full.
Proposals
06:01
Open Terminal ↗ RNS Source
84 Broker Upgrade
BRK
Brooks Macdonald Group
Positive
Half-year Financial Report
**Summary of Brooks Macdonald Group PLCs Half-Year Financial Report (H1 2026)** Brooks Macdonald Group PLC reported its half-year results for the six months ending 31 December 2025, highlighting strong momentum and strategic progress. Key financial and operational highlights include: ### **Financial Highlights** - **Total Funds Under Management and Advice (FUMA):** Increased by 5% to £20.1 billion, driven by market and investment performance. - **Net Inflows:** Positive net inflows of £2 million, the first half-year of positive flows since H2 2023. - **Revenue:** Grew by 12% to £58.2 million, supported by higher financial planning and fee income. - **Underlying Profit Before Tax (PBT):** £13.6 million, with a margin of 23.4%. - **Statutory PBT:** £6.2 million, reflecting higher organic investment, M&A, and integration costs. - **Interim Dividend:** Recommended at 31.0 pence per share, up 3%. ### **Strategic and Operational Highlights** - **Reignite Growth Strategy:** Progress across all three strategic priorities, including investments in digital capability, AI, and product innovation. - **Brooks Financial Integration:** Completed integration, achieving £1 million in annualised cost synergies and 98% client retention. - **Client Experience Enhancements:** Launched a mobile app and improved onboarding through digitisation. - **AI Deployment:** Reduced administrative burden, freeing capacity for client service. - **Efficiency Gains:** Delivered £3 million in annualised savings through organisational restructuring. - **Investment Performance:** Strong performance in Managed Portfolio Service (MPS) and Bespoke Portfolio Service (BPS), with Defaqto Gold award for Discretionary Fund Management Service. ### **Outlook** - Expects H1 revenue trends to continue into H2, with costs remaining broadly in line. - Full-year 2026 performance expected to align with market expectations. - Confident in delivering medium-term targets of +5% annualised net flows and <5% BAU cost growth. ### **Key Metrics** - **Revenue:** £58.2 million (+12% YoY). - **Underlying Operating Expenses:** £45.4 million (+20% YoY, including acquisitions). - **Underlying PBT:** £13.6 million (-12% YoY). - **Statutory PBT:** £6.2 million (-51% YoY). - **Interim Dividend:** 31.0 pence per share (+3% YoY). ### **Conclusion** Brooks Macdonald demonstrated resilience and growth in H1 2026, with positive net flows, revenue growth, and strategic advancements. The company remains focused on its Reignite Growth strategy, leveraging technology and efficiency to drive sustainable growth and enhance client service.
**Summary of Brooks Macdonald Group PLCs Half-Year Financial Report (H1 2026)**
Brooks Macdonald Group PLC reported its half-year results for the six months ending 31 December 2025, highlighting strong momentum and strategic progress. Key financial and operational highlights include
### **Financial Highlights**
**Total Funds Under Management and Advice (FUMA):** Increased by 5% to £20.1 billion, driven by market and investment performance.
**Net Inflows** Positive net inflows of £2 million, the first half-year of positive flows since H2 2023.
**Revenue** Grew by 12% to £58.2 million, supported by higher financial planning and fee income.
**Underlying Profit Before Tax (PBT)** £13.6 million, with a margin of 23.4%.
**Statutory PBT:** £6.2 millionreflecting higher organic investmentM&Aand integration costs.
**Interim Dividend** Recommended at 31.0 pence per share, up 3%.
### **Strategic and Operational Highlights**
**Reignite Growth Strategy** Progress across all three strategic priorities, including investments in digital capability, AI, and product innovation.
**Brooks Financial Integration** Completed integration, achieving £1 million in annualised cost synergies and 98% client retention.
**Client Experience Enhancements** Launched a mobile app and improved onboarding through digitisation.
**AI Deployment** Reduced administrative burden, freeing capacity for client service.
**Efficiency Gains** Delivered £3 million in annualised savings through organisational restructuring.
**Investment Performance** Strong performance in Managed Portfolio Service (MPS) and Bespoke Portfolio Service (BPS), with Defaqto Gold award for Discretionary Fund Management Service.
### **Outlook**
Expects H1 revenue trends to continue into H2, with costs remaining broadly in line.
Full-year 2026 performance expected to align with market expectations.
Confident in delivering medium-term targets of +5% annualised net flows and <5% BAU cost growth.
### **Key Metrics**
**Revenue** £58.2 million (+12% YoY).
**Underlying Operating Expenses** £45.4 million (+20% YoY, including acquisitions).
**Underlying PBT** £13.6 million (-12% YoY).
**Statutory PBT** £6.2 million (-51% YoY).
**Interim Dividend** 31.0 pence per share (+3% YoY).
### **Conclusion**
Brooks Macdonald demonstrated resilience and growth in H1 2026, with positive net flows, revenue growth, and strategic advancements. The company remains focused on its Reignite Growth strategy, leveraging technology and efficiency to drive sustainable growth and enhance client service.
Here is a comparison of the financials and debt year on year presented as an HTML table:
MetricH1 2026 (£ millions)H1 2025 (£ millions)Change
Total Funds Under Management and Advice (FUMA)20.119.15%
Net Inflows2-262N/A (from outflow to inflow)
Revenue58.251.912%
Underlying Operating Expenses45.437.820%
Underlying Profit Before Tax (PBT)13.615.5-12%
Statutory PBT6.212.6-51%
Interim Dividend per Share (pence)31.030.03%
Net Debt (Cash Resources and Liquid Assets)27.053.8-49%
**Notes:** * The table compares key financial metrics between H1 2026 and H1 2025. * Net Debt is represented by Cash Resources and Liquid Assets, as there is no explicit debt figure provided in the text. * The change in Net Inflows is marked as N/A since it's a shift from outflow to inflow. This table provides a concise overview of the year-on-year changes in Brooks Macdonald Group PLC's financials and debt position.
06:01
Open Terminal ↗ RNS Source
93 Strong Beat
CTEC
ConvaTec Group PLC
Positive
Convatec FY25 Results
**Summary of Convatec FY25 Results:** Convatec Group PLC reported strong financial results for the year ended December 31, 2025, with key highlights including: 1. **Revenue Growth**: Reported revenue increased by 6.5% to $2,439 million, driven by broad-based organic growth across all categories, geographies, and products. Organic revenue growth excluding InnovaMatrix® was 6.4%. 2. **Margin Improvement**: Adjusted operating margin expanded by 110 basis points to 22.3%, despite challenges like a $30 million reduction in InnovaMatrix® sales and incremental tariffs. This improvement was fueled by operational efficiencies, pricing strategies, and operational leverage. 3. **Earnings Growth**: Adjusted diluted EPS grew by 16.0% to 17.6 cents, reflecting strong operational performance and margin expansion. 4. **Cash Generation**: Free cash flow to equity was $362 million, supporting investments in growth, dividends, and share buybacks. The company returned $300 million to shareholders via share repurchases. 5. **Dividend Increase**: The final dividend for 2025 was increased by 13% to 5.367 cents per share, bringing the full-year dividend to 7.244 cents per share. 6. **Strategic Investments**: Convatec invested $185 million in capital expenditures, focusing on capacity expansion, new product development, and automation to meet rising demand. 7. **Product Innovations**: Key product launches and innovations, such as ConvaFoamTM, Esteem BodyTM, and GentleCath AirTM, drove growth and market share gains across categories. 8. **Medium-Term Outlook**: Convatec upgraded its medium-term organic revenue growth target to 6-8% from 2027, supported by a rich innovation pipeline and successful strategy implementation. 9. **Financial Position**: The company secured investment-grade status, extended its financing maturity, and maintained a strong balance sheet with net debt of $1,330 million, equivalent to 2.0x adjusted EBITDA. 10. **Future Prospects**: Convatec expects double-digit adjusted EPS growth in FY26, with organic revenue growth of 5-7% excluding InnovaMatrix®, and continued margin expansion to at least 23.0%. Overall, Convatecs FY25 results demonstrate resilient growth, strategic execution, and a strong foundation for future performance, underpinned by innovation, operational excellence, and disciplined capital allocation.
**Summary of Convatec FY25 Results**
Convatec Group PLC reported strong financial results for the year ended December 31, 2025, with key highlights including
1. **Revenue Growth**Reported revenue increased by 6.5% to $2,439 million, driven by broad-based organic growth across all categories, geographies, and products. Organic revenue growth excluding InnovaMatrix® was 6.4%.
2. **Margin Improvement**Adjusted operating margin expanded by 110 basis points to 22.3%, despite challenges like a $30 million reduction in InnovaMatrix® sales and incremental tariffs. This improvement was fueled by operational efficiencies, pricing strategies, and operational leverage.
3. **Earnings Growth**Adjusted diluted EPS grew by 16.0% to 17.6 cents, reflecting strong operational performance and margin expansion.
4. **Cash Generation**Free cash flow to equity was $362 million, supporting investments in growth, dividends, and share buybacks. The company returned $300 million to shareholders via share repurchases.
5. **Dividend Increase**The final dividend for 2025 was increased by 13% to 5.367 cents per share, bringing the full-year dividend to 7.244 cents per share.
6. **Strategic Investments**Convatec invested $185 million in capital expenditures, focusing on capacity expansion, new product development, and automation to meet rising demand.
7. **Product Innovations**Key product launches and innovations, such as ConvaFoamTM, Esteem BodyTM, and GentleCath AirTM, drove growth and market share gains across categories.
8. **Medium-Term Outlook**Convatec upgraded its medium-term organic revenue growth target to 6-8% from 2027, supported by a rich innovation pipeline and successful strategy implementation.
9. **Financial Position**The company secured investment-grade status, extended its financing maturity, and maintained a strong balance sheet with net debt of $1,330 million, equivalent to 2.0x adjusted EBITDA.
10. **Future Prospects**Convatec expects double-digit adjusted EPS growth in FY26, with organic revenue growth of 5-7% excluding InnovaMatrix®, and continued margin expansion to at least 23.0%.
Overall, Convatecs FY25 results demonstrate resilient growth, strategic execution, and a strong foundation for future performance, underpinned by innovation, operational excellence, and disciplined capital allocation.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY 2025FY 2024Change
Revenue$2,439m$2,289m6.5%
Operating Profit (Reported)$316m$325m(2.7%)
Operating Profit (Adjusted)$544m$485m12.1%
Operating Margin (Reported)13.0%14.2%(120 bps)
Operating Margin (Adjusted)22.3%21.2%110 bps
Diluted EPS (Reported)8.6 cents9.3 cents(7.1%)
Diluted EPS (Adjusted)17.6 cents15.2 cents16.0%
Free Cash Flow to Equity$362m$361m0.1%
Net Debt$1,330m$1,058m25.7%
Net Debt/Adjusted EBITDA2.0x1.8x11.1%
**Key Observations:** - **Revenue Growth:** Revenue increased by 6.5% from FY 2024 to FY 2025, driven by broad-based organic growth across categories, geographies, and products. - **Operating Profit:** Reported operating profit decreased slightly by 2.7%, while adjusted operating profit increased by 12.1%, reflecting strong underlying performance. - **Margins:** Adjusted operating margin improved by 110 basis points to 22.3%, despite challenges like the InnovaMatrix® CMS rate change. - **EPS Growth:** Adjusted diluted EPS grew by 16.0%, demonstrating strong earnings growth. - **Debt Increase:** Net debt increased by 25.7%, primarily due to increased borrowings, including the issuance of senior unsecured notes. The net debt to adjusted EBITDA ratio increased to 2.0x, still within the target range. This table provides a concise comparison of key financial metrics and debt levels between FY 2024 and FY 2025 for Convatec Group PLC.
06:01
Open Terminal ↗ RNS Source
93 Strong Beat
UPR
Uniphar Group PLC
Positive
2025 Preliminary Results
**Summary of Uniphar PLCs 2025 Preliminary Results:** Uniphar PLC, an international healthcare services company, reported strong financial results for 2025, highlighting significant growth across key metrics. The company achieved: - **Organic Gross Profit Growth:** 8.9%, the fastest rate since its IPO, driven by strong performance in all divisions, particularly Pharma (15.5%) and Medtech (10.5%). - **Adjusted EPS Growth:** 21%, reaching 24.8 cents, supported by lower finance costs and a €35 million share buyback program. - **Revenue Growth:** 11.0% to €3.1 billion, with constant currency growth at 11.1%. - **EBITDA Growth:** 6.0% to €130.9 million, with organic growth at 9.0%. - **Net Bank Debt:** Increased to €171.1 million, with leverage at 1.6x. - **Dividend:** Total dividend of €5.2 million, representing a 5.2% per share increase year-on-year. **Strategic Highlights:** - Completed a €35 million share buyback program, repurchasing 13.4 million shares. - Acquired TouchStore to enhance digital and technology offerings in the pharmacy sector. - Progressed key strategic investments, including a new high-tech distribution facility in Ireland, scheduled for phased operation in mid-2026. - Maintained strong ESG ratings, including MSCI AAA and CDP B for the fourth consecutive year. **Outlook:** Uniphar expects continued strong organic Gross Profit growth in line with its medium-term guidance. The company remains on track to achieve its target of €200 million EBITDA by 2028, with at least 80% of growth expected to be organic. **CEO Comment:** Ger Rabbette, CEO, expressed satisfaction with the results, highlighting the fastest organic Gross Profit growth since IPO and strong Adjusted EPS growth. He reaffirmed confidence in achieving the 2028 EBITDA target. **Financial Summary:** - **Gross Profit:** Increased 7.0% to €457.7 million, with a margin of 14.9%. - **Operating Profit:** Decreased 6.2% to €76.9 million due to exceptional items. - **Profit Before Tax (Excluding Exceptionals):** Grew 17.4% to €71.8 million. - **Free Cash Flow Conversion:** 99.1%, supported by favorable working capital movements. **Divisional Performance:** - **Uniphar Pharma:** 15.5% organic Gross Profit growth, driven by Global Sourcing and clinical trial supply. - **Uniphar Medtech:** 10.5% organic Gross Profit growth, supported by geographic expansion and new supplier rollouts. - **Uniphar Supply Chain & Retail:** 4.2% organic Gross Profit growth, with strong volume growth in Supply Chain. **Balance Sheet and Liquidity:** - Robust balance sheet with net bank debt of €171.1 million and leverage at 1.6x. - Extended revolving credit facility maturity to August 2029 and placed a new €150 million term loan. **Sustainability:** - Reduced Scope 1 and 2 emissions by 29.9% since 2019. - Continued progress on Science-Based Targets and strong ESG ratings. **Analyst Presentation:** A conference call for analysts and investors was scheduled for February 24, 2026, with details available on the company’s website. **Conclusion:** Uniphar PLC delivered a strong performance in 2025, with significant growth across key financial metrics and strategic advancements. The company remains well-positioned for future growth, supported by its diversified healthcare services portfolio and strategic investments.
**Summary of Uniphar PLCs 2025 Preliminary Results:**
Uniphar PLC, an international healthcare services company, reported strong financial results for 2025, highlighting significant growth across key metrics. The company achieved
**Organic Gross Profit Growth** 8.9%, the fastest rate since its IPO, driven by strong performance in all divisions, particularly Pharma (15.5%) and Medtech (10.5%).
**Adjusted EPS Growth** 21%, reaching 24.8 cents, supported by lower finance costs and a €35 million share buyback program.
**Revenue Growth** 11.0% to €3.1 billion, with constant currency growth at 11.1%.
**EBITDA Growth** 6.0% to €130.9 million, with organic growth at 9.0%.
**Net Bank Debt** Increased to €171.1 million, with leverage at 1.6x.
**Dividend** Total dividend of €5.2 million, representing a 5.2% per share increase year-on-year.
**Strategic Highlights**
Completed a €35 million share buyback program, repurchasing 13.4 million shares.
Acquired TouchStore to enhance digital and technology offerings in the pharmacy sector.
Progressed key strategic investments, including a new high-tech distribution facility in Ireland, scheduled for phased operation in mid-2026.
Maintained strong ESG ratings, including MSCI AAA and CDP B for the fourth consecutive year.
**Outlook**
Uniphar expects continued strong organic Gross Profit growth in line with its medium-term guidance. The company remains on track to achieve its target of €200 million EBITDA by 2028, with at least 80% of growth expected to be organic.
**CEO Comment**
Ger Rabbette, CEO, expressed satisfaction with the results, highlighting the fastest organic Gross Profit growth since IPO and strong Adjusted EPS growth. He reaffirmed confidence in achieving the 2028 EBITDA target.
**Financial Summary**
**Gross Profit** Increased 7.0% to €457.7 million, with a margin of 14.9%.
**Operating Profit** Decreased 6.2% to €76.9 million due to exceptional items.
**Profit Before Tax (Excluding Exceptionals):** Grew 17.4% to €71.8 million.
**Free Cash Flow Conversion** 99.1%, supported by favorable working capital movements.
**Divisional Performance**
**Uniphar Pharma** 15.5% organic Gross Profit growth, driven by Global Sourcing and clinical trial supply.
**Uniphar Medtech** 10.5% organic Gross Profit growth, supported by geographic expansion and new supplier rollouts.
**Uniphar Supply Chain & Retail** 4.2% organic Gross Profit growth, with strong volume growth in Supply Chain.
**Balance Sheet and Liquidity**
Robust balance sheet with net bank debt of €171.1 million and leverage at 1.6x.
Extended revolving credit facility maturity to August 2029 and placed a new €150 million term loan.
**Sustainability**
Reduced Scope 1 and 2 emissions by 29.9% since 2019.
Continued progress on Science-Based Targets and strong ESG ratings.
**Analyst Presentation**
A conference call for analysts and investors was scheduled for February 24, 2026, with details available on the company’s website.
**Conclusion**
Uniphar PLC delivered a strong performance in 2025, with significant growth across key financial metrics and strategic advancements. The company remains well-positioned for future growth, supported by its diversified healthcare services portfolio and strategic investments.
Here is the HTML table code comparing the financials and debt year on year for Uniphar PLC:
Metric2025 (€'000)2024 (€'000)Change
Revenue3,074,7042,770,42911.0%
Gross Profit457,692427,6047.0%
EBITDA130,909123,4586.0%
Operating Profit76,87581,989(6.2%)
Profit before tax71,79561,13017.4%
Net bank debt(171,139)(147,676)(15.9%)
Basic EPS (cent)19.523.5(17.0%)
Adjusted EPS (cent)24.820.521.0%
Leverage (times)1.551.475.4%

Key Observations:

  • Revenue increased by 11.0% from 2024 to 2025, driven by strong volume growth across all divisions.
  • Gross Profit grew by 7.0%, with organic growth of 8.9%, the fastest rate since IPO.
  • EBITDA increased by 6.0%, with organic EBITDA growth of 9.0%.
  • Net bank debt increased by 15.9%, resulting in a higher leverage ratio of 1.55 times in 2025 compared to 1.47 times in 2024.
  • Adjusted EPS grew by 21.0%, reflecting strong business performance and the positive impact of lower finance costs and share buybacks.
This table provides a clear comparison of key financial metrics and debt between 2024 and 2025 for Uniphar PLC. The observations highlight the company's strong revenue and profit growth, as well as the increase in debt and leverage ratio.
06:01
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80 Positive
TENG
Ten Lifestyle Group PLC
Positive
Ten wins Large contract with financial provider
**Summary:** Ten Lifestyle Group plc (AIM: TENG), a global concierge technology platform, has secured a new multi-year contract with a leading financial services provider in the AMEA region. The contract, categorized as "Large" (valued between £2m and £5m annually), involves launching a digitally enabled customer experience program for the providers High and Ultra Net Worth clients. Ten will establish a new in-market operating presence to support this initiative, enhancing service coverage and operational capability in a high-growth region. The transition from the incumbent provider is expected to begin in the second half of Tens financial year ending 31 August 2026, with full contract implementation anticipated in FY 2027. This win underscores Tens commitment to driving customer loyalty for global financial institutions and premium brands, leveraging its proprietary technology, supplier relationships, and 27 years of expertise. Ten remains dedicated to sustainability and ethical business practices as the first B Corp-certified company on the AIM market.
**Summary**
Ten Lifestyle Group plc (AIMTENG), a global concierge technology platform, has secured a new multi-year contract with a leading financial services provider in the AMEA region. The contract, categorized as "Large" (valued between £2m and £5m annually), involves launching a digitally enabled customer experience program for the providers High and Ultra Net Worth clients. Ten will establish a new in-market operating presence to support this initiative, enhancing service coverage and operational capability in a high-growth region. The transition from the incumbent provider is expected to begin in the second half of Tens financial year ending 31 August 2026, with full contract implementation anticipated in FY 2027. This win underscores Tens commitment to driving customer loyalty for global financial institutions and premium brands, leveraging its proprietary technology, supplier relationships, and 27 years of expertise. Ten remains dedicated to sustainability and ethical business practices as the first B Corp-certified company on the AIM market.
NewContract
06:01
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93 Strong Beat
CGEO
Georgia Capital PLC
Positive
Final Results
**Summary:** Georgia Capital PLC, a London-listed investment entity, reported strong financial results for the fourth quarter (4Q25) and full year (FY25) of 2025. Key highlights include: - **Net Asset Value (NAV) Growth:** NAV per share increased by 14.1% quarter-on-quarter (q-o-q) in 4Q25 and 61.2% year-on-year (y-o-y) in FY25, driven by portfolio value growth, share buybacks, and strong operating performance across private portfolio companies. - **Portfolio Performance:** The total portfolio value reached GEL 5.1 billion in 4Q25, up 9.4% q-o-q. Listed portfolio value increased by 14.9% q-o-q, primarily due to Lion Finance Groups share price appreciation. Private portfolio value grew by 4.5% q-o-q, led by value creation, investments, and dividend payments. - **Private Portfolio Companies:** Large private portfolio companies, including retail (pharmacy), insurance, and healthcare services, delivered outstanding operational results. Aggregated revenues and EBITDA increased by 11.8% and 17.8% y-o-y, respectively, in 4Q25. - **Lion Finance Group:** Lion Finance Groups share price rose by 21.6% q-o-q in 4Q25 and 97.5% y-o-y in FY25, contributing significantly to the listed portfolios value creation. - **Share Buybacks:** Georgia Capital completed a US$ 50 million share buyback and cancellation program in January 2026, repurchasing 1.5 million shares. A new US$ 50 million share buyback program was launched in February 2026. - **Net Capital Commitment (NCC) Ratio:** The NCC ratio improved to a record low of 2.3% in 4Q25, reflecting strong cash generation and portfolio value growth. - **Financial Performance:** Adjusted IFRS net income was GEL 598.9 million in 4Q25 and GEL 1,870.4 million in FY25. Gross operating income increased by 15.3% y-o-y in FY25, primarily due to dividend collections. - **Valuation:** Independent valuation assessments were performed for retail (pharmacy), insurance, healthcare services, renewable energy, and education businesses, using income and market approaches. - **Outlook:** Georgia Capital expects continued robust NAV per share growth, driven by Lion Finance Groups performance, private portfolio companies growth, deleveraging, and share buybacks. **Key Financials (GEL 000, unless otherwise noted):** - NAV per share: GEL 154.68 (4Q25), up 14.1% q-o-q and 61.2% y-o-y - Total portfolio value: GEL 5,074,885 (4Q25), up 9.4% q-o-q and 34.9% y-o-y - Adjusted IFRS net income: GEL 598,877 (4Q25), up 37.5% y-o-y; GEL 1,870,441 (FY25), up NMF y-o-y - Dividend income: GEL 57,692 (4Q25), up NMF y-o-y; GEL 225,534 (FY25), up 11.8% y-o-y **Key Ratios:** - NCC ratio: 2.3% (4Q25), down 3.1 ppts q-o-q and 10.5 ppts y-o-y - Net debt to EBITDA leverage ratio (retail pharmacy): 1.3x (31-Dec-25) - Combined ratio (P&C insurance): 90.9% (4Q25), up 1.0 ppt y-o-y - EBITDA margin (healthcare services, excl. IFRS 16): 19.7% (4Q25), up 0.4 ppts y-o-y **Key Developments:** - Completion of US$ 50 million share buyback program and launch of a new program - Strong performance across private portfolio companies, particularly in retail, insurance, and healthcare services - Continued growth and value creation from Lion Finance Group - Improved NCC ratio, reflecting strong cash generation and portfolio value growth - Successful social bond issuance by healthcare services business **Outlook:** Georgia Capital expects to maintain its strong performance, driven by: - Lion Finance Groups exceptional performance in Georgia and Armenia - Robust growth across private portfolio companies - Significant deleveraging at the holding level - Strong cash generation, enabling share buybacks and capital returns The company remains well-positioned to capitalize on its portfolios growth potential and deliver attractive returns to shareholders.
**Summary**
Georgia Capital PLC, a London-listed investment entity, reported strong financial results for the fourth quarter (4Q25) and full year (FY25) of 2025. Key highlights include
**Net Asset Value (NAV) Growth** NAV per share increased by 14.1% quarter-on-quarter (q-o-q) in 4Q25 and 61.2% year-on-year (y-o-y) in FY25, driven by portfolio value growth, share buybacks, and strong operating performance across private portfolio companies.
**Portfolio Performance** The total portfolio value reached GEL 5.1 billion in 4Q25, up 9.4% q-o-q. Listed portfolio value increased by 14.9% q-o-q, primarily due to Lion Finance Groups share price appreciation. Private portfolio value grew by 4.5% q-o-q, led by value creation, investments, and dividend payments.
**Private Portfolio Companies** Large private portfolio companies, including retail (pharmacy), insurance, and healthcare services, delivered outstanding operational results. Aggregated revenues and EBITDA increased by 11.8% and 17.8% y-o-y, respectively, in 4Q25.
**Lion Finance Group** Lion Finance Groups share price rose by 21.6% q-o-q in 4Q25 and 97.5% y-o-y in FY25, contributing significantly to the listed portfolios value creation.
**Share Buybacks** Georgia Capital completed a US$ 50 million share buyback and cancellation program in January 2026, repurchasing 1.5 million shares. A new US$ 50 million share buyback program was launched in February 2026.
**Net Capital Commitment (NCC) Ratio** The NCC ratio improved to a record low of 2.3% in 4Q25, reflecting strong cash generation and portfolio value growth.
**Financial Performance** Adjusted IFRS net income was GEL 598.9 million in 4Q25 and GEL 1,870.4 million in FY25. Gross operating income increased by 15.3% y-o-y in FY25, primarily due to dividend collections.
**Valuation** Independent valuation assessments were performed for retail (pharmacy), insurance, healthcare services, renewable energy, and education businesses, using income and market approaches.
**Outlook** Georgia Capital expects continued robust NAV per share growth, driven by Lion Finance Groups performance, private portfolio companies growth, deleveraging, and share buybacks.
**Key Financials (GEL 000unless otherwise noted):**
NAV per share: GEL 154.68 (4Q25)up 14.1% q-o-q and 61.2% y-o-y
Total portfolio value: GEL 5074885 (4Q25)up 9.4% q-o-q and 34.9% y-o-y
Adjusted IFRS net income: GEL 598877 (4Q25)up 37.5% y-o-y
GEL 1870441 (FY25)up NMF y-o-y
Dividend income: GEL 57692 (4Q25)up NMF y-o-y
GEL 225534 (FY25)up 11.8% y-o-y
**Key Ratios**
NCC ratio2.3% (4Q25), down 3.1 ppts q-o-q and 10.5 ppts y-o-y
Net debt to EBITDA leverage ratio (retail pharmacy): 1.3x (31-Dec-25)
Combined ratio (P&C insurance)90.9% (4Q25), up 1.0 ppt y-o-y
EBITDA margin (healthcare servicesexcl. IFRS 16): 19.7% (4Q25)up 0.4 ppts y-o-y
**Key Developments**
Completion of US$ 50 million share buyback program and launch of a new program
Strong performance across private portfolio companies, particularly in retail, insurance, and healthcare services
Continued growth and value creation from Lion Finance Group
Improved NCC ratio, reflecting strong cash generation and portfolio value growth
Successful social bond issuance by healthcare services business
**Outlook**
Georgia Capital expects to maintain its strong performance, driven by
Lion Finance Groups exceptional performance in Georgia and Armenia
Robust growth across private portfolio companies
Significant deleveraging at the holding level
Strong cash generation, enabling share buybacks and capital returns
The company remains well-positioned to capitalize on its portfolios growth potential and deliver attractive returns to shareholders.
Here is a comparison of the financials and debt year on year for Georgia Capital PLC, presented as an HTML table:
MetricDec-24Dec-25Change
NAV per share (GEL)95.95154.6861.2%
NAV per share (GBP)27.1442.4456.4%
Net Asset Value (NAV)3,609,0135,194,52743.9%
Cash, liquid funds and accrued dividends278,237239,801-13.8%
Gross debt(432,662)(139,128)-67.8%
Net debt(154,425)102,909NMF
NCC ratio12.8%2.3%-10.5 ppts
Total portfolio value3,761,4905,074,88534.9%
Net income350,3241,870,441NMF
**Notes:** * NMF = Not Meaningful (due to significant changes or non-comparable figures) * The table compares key financial metrics between December 2024 (Dec-24) and December 2025 (Dec-25) * Metrics include NAV per share, Net Asset Value, cash and debt positions, NCC ratio, total portfolio value, and net income * The "Change" column shows the percentage change between Dec-24 and Dec-25 * The table highlights significant improvements in NAV, portfolio value, and net income, as well as a substantial reduction in gross debt and NCC ratio
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NAS
NAS North Atlantic Smaller Comp…
14:58
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Director/PDMR Shareholding

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TIR
TIR Tiger Royalties and investm…
14:49
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Holding(s) in Company

TR1 Buy

TR1 Buy
['Spreadex LTD', '7.020400', '5.140900']
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BBH
BBH Bellevue Healthcare Trust P…
14:48
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Director Declaration

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RM.
RM. RM.
14:46
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RM plc: Notification of Full Year Results

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FXPO
FXPO Ferrexpo PLC
14:36
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Update regarding Ukrainian subsidiary

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JMAT
JMAT Johnson Matthey PLC
14:31
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Director/PDMR Shareholding

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GSK
GSK GSK plc
14:31
Market

Director/PDMR Shareholding

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BRIG
BRIG BlackRock Income and Growth…
14:29
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Portfolio Update

**Summary: BlackRock Income & Growth Investment Trust PLC Portfolio Update (February 24, 2026)** BlackRock Income & Growth Investment Trust PLC released its unaudited portfolio update as of January 31, 2025, highlighting strong performa…

**SummaryBlackRock Income & Growth Investment Trust PLC Portfolio Update (February 24, 2026)**
BlackRock Income & Growth Investment Trust PLC released its unaudited portfolio update as of January 31, 2025, highlighting strong performance across various timeframes. The trust’s share price and net asset value (NAV) outperformed the FTSE All-Share Total Return Index over one, three, and five years, with gains of 19.2% and 13.7% (NAV) in the past year, respectively. Since BlackRock took over management in April 2012, the trust has delivered 183.8% (share price) and 186.6% (NAV) returns.
**Key Metrics (as of January 312025):**
**Net Asset Value (NAV)** 253.56p (capital only), 259.61p (cum income).
**Share Price** 230.00p, trading at an 11.4% discount to cum-income NAV.
**Total Assets** £54.7 million.
**Gearing:** 4.0%within the 0-20% range.
**Net Yield** 3.3%, including the 2025 final dividend of 5.00p per share.
**Ongoing Charges** Capped at 1.15%.
**Sector and Country Allocation**
The portfolio is heavily weighted towards UK equities (89.8%), with top sectors including Banks (13.0%), Pharmaceuticals & Biotechnology (8.7%), and Non-equity Investment Instruments (6.9%). Top holdings include AstraZeneca (7.6%), Standard Chartered (4.5%), and Lloyds Banking Group (4.5%).
**Performance Drivers**
**Positive Contributors** Holdings in Ashmore, Great Portland Estates, and Oxford Instruments boosted performance, driven by strong inflows, leasing updates, and trading performance.
**Negative Contributors** Overweight positions in RELX (AI disruption concerns) and ICG (valuation headwinds), as well as the absence of Glencore (merger speculation and strong production results), detracted from returns.
**Portfolio Changes**
**New Positions** Cranswick (UK food producer) and Eaton (US industrial electrification equipment provider) were added for their growth potential.
**Sales/Trims** Compass was sold due to low yield, and BAE Systems was trimmed in favor of Babcock.
**Market Outlook**
The trust anticipates continued volatility driven by geopolitical uncertainty, interest rate expectations, and thematic trends in AI, defense, and financials. Despite challenges, opportunities are emerging in undervalued UK equities, resilient growth stories, and turnaround cases. BlackRock remains focused on cash-generative businesses with competitive advantages to deliver long-term returns.
**Conclusion**
BlackRock Income & Growth Investment Trust PLC demonstrated robust performance, strategic portfolio adjustments, and a cautious yet opportunistic outlook, positioning itself to navigate market volatility and capitalize on emerging opportunities.
Below is the HTML table code comparing the financials and debt (gearing) year-on-year based on the provided text. Since the text only provides data for a single year (as of January 2025), I’ve structured the table to reflect the available information and left the previous year’s column empty for clarity.
MetricAs of January 2024 (Not Available)As of January 2025
Net Asset Value (Capital Only)253.56p
Net Asset Value (Cum Income)259.61p
Share Price230.00p
Total Assets (Including Income)£54.7m
Discount to Cum-Income NAV11.4%
Gearing4.0%
Net Yield3.3%
Ordinary Shares in Issue18,753,794
Gearing Range (as a % of Net Assets)0-20%
Ongoing Charges1.15%
### Notes: 1. **Year-on-Year Comparison**: Since the text only provides data for January 2025, the table includes a placeholder for January 2024 data, which is not available. 2. **Metrics**: The table includes key financials such as Net Asset Value, Share Price, Total Assets, Gearing, and Ongoing Charges. 3. **Gearing**: Gearing is the only debt-related metric provided in the text, reflecting the level of borrowing relative to net assets. If historical data becomes available, the table can be updated accordingly.
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WG.
WG. WG.
14:26
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Form 8.3

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SOLG
SOLG SolGold PLC
14:26
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Form 8.3

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SDR
SDR Schroders PLC
14:26
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Form 8.3

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JTC
JTC JTC PLC
14:26
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Form 8.3

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BEZ
BEZ Beazley plc
14:26
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Form 8.3

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JUST
JUST Just Group plc
14:26
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Form 8.3

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IPF
IPF International Personal Fina…
14:26
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Form 8.3

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DO72
DO72 DO72
14:25
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ISM_MSESE_EARLY REDEMPTION_24-02-2026

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71LF
71LF 71LF
14:23
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ISM_MSBV_EARLY REDEMPTION_24-02-2026

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FSV
FSV Fidelity Special Values
14:23
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Issue of Equity

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ECOR
ECOR Ecora Resources PLC
14:22
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Transfer of Treasury Shares & Total Voting Rights

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PAY
PAY PayPoint plc
14:21
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PayPoint plc : Director/PDMR Shareholding

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0A28
0A28 Prosus N.V.
14:18
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Transaction in Own Shares

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BNC
BNC Banco Santander S.A.
14:06
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Director/PDMR Shareholding

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BARC
BARC Barclays PLC
14:06
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Form 8.3 JUST GROUP PLC

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NWG
NWG NatWest Group PLC
14:04
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Final Terms

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BARC
BARC Barclays PLC
14:04
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Form 8.5 EPT/Non RI LONDONMETRIC PROPERTY PLC

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BARC
BARC Barclays PLC
14:04
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Form 8.5 EPT/Non RI BEAZLEY PLC

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QLT
QLT Quilter PLC
14:01
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Form 8.3 - LondonMetric Property Plc

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QLT
QLT Quilter PLC
14:01
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Form 8.3 - British Land Company plc

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IDOX
IDOX IDOX plc
14:01
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Form 8.3

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SOLG
SOLG SolGold PLC
14:01
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Form 8.3

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JUST
JUST Just Group plc
14:01
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Form 8.3

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ADF
ADF Facilities By ADF PLC
14:00
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Director Dealing

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

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
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BARC
BARC Barclays PLC
13:58
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Form 8.3 WOOD GROUP (JOHN) PLC

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BARC
BARC Barclays PLC
13:58
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Form 8.3 SPIRE HEALTHCARE GROUP PLC

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BARC
BARC Barclays PLC
13:58
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Form 8.3 SOLGOLD PLC

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BARC
BARC Barclays PLC
13:58
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Form 8.3 NCC GROUP PLC

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BARC
BARC Barclays PLC
13:58
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Form 8.3 LIFE SCIENCE REIT PLC

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BARC
BARC Barclays PLC
13:58
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Form 8.3 KITWAVE GROUP PLC

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BARC
BARC Barclays PLC
13:57
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Form 8.3 INTERNATIONAL PERSONAL FINANCE PLC

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BARC
BARC Barclays PLC
13:57
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Form 8.3 JTC PLC

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BARC
BARC Barclays PLC
13:57
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Form 8.3 BRITISH LAND COMPANY PLC, THE

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ATR
ATR Schroders Investment Trusts…
13:52
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Director Declaration

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SST
SST The Scottish Oriental Small…
13:44
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Director Declaration

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BX15
BX15 BX15
13:40
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Early Redemption(s)

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GDR
GDR genedrive plc
13:33
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Holding(s) in Company

TR1 Buy

TR1 Buy
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BGCG
BGCG Baillie Gifford China Growt…
13:32
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UK Listing Rule 6.4.9R

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73YK
73YK 73YK
13:31
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Notice of Interim Payment

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49AC
49AC 49AC
13:31
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Notice of Interim Payment

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BEZ
BEZ Beazley plc
13:31
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Form 8.3

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BOKU
BOKU Boku Inc
13:30
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Holding(s) in Company

TR1 Buy

TR1 Buy
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TUN
TUN Tungsten West PLC
13:30
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TR-1: Notification of major holdings

TR1 Buy

TR1 Buy
['Drakewood Capital Management Limited', '9.33', '4.65']
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OXA1
OXA1 Db Etc Plc
13:30
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Buy-Back of Securities

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GENI
GENI Genincode PLC
13:29
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Holding(s) in Company

TR1 Buy

TR1 Buy
['Philip M Chesterfield', '9.447', 0]
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JTC
JTC JTC PLC
13:29
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Form 8.3 - The Vanguard Group, Inc.: JTC plc

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BEZ
BEZ Beazley plc
13:28
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Form 8.3 - The Vanguard Group, Inc.: Beazley plc

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SDR
SDR Schroders PLC
13:27
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Form 8.3 - The Vanguard Group, Inc.: Schroders plc

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LABS
LABS Life Science REIT PLC
13:27
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Form 8.3 - The Vanguard Group, Inc.: Life Science REIT plc

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PHNX
PHNX Phoenix Group Holdings PLC
13:26
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Change of Company Name

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SPI
SPI Spire Healthcare Group Plc
13:26
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Form 8.3 - The Vanguard Group, Inc.: Spire Healthcare Group plc

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JUST
JUST Just Group plc
13:25
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Form 8.3 - The Vanguard Group, Inc.: Just Group plc

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LMP
LMP LondonMetric Property Plc
13:24
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Form 8.3 - The Vanguard Group, Inc.: LondonMetric Property plc

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PCTN
PCTN Picton Property Income Ltd
13:24
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Form 8.3 - The Vanguard Group, Inc.: Picton Property Income Limited

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NCC
NCC NCC Group plc
13:23
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Form 8.3 - The Vanguard Group, Inc.: NCC Group plc

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BLND
BLND British Land Company PLC
13:22
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Form 8.3 - The Vanguard Group, Inc.: British Land Company plc, The

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BARC
BARC Barclays PLC
13:19
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Form 8.5 EPT/Non RI CAB PAYMENTS HOLDINGS PLC

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BARC
BARC Barclays PLC
13:19
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Form 8.5 EPT/Non RI SCHRODERS PLC

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BARC
BARC Barclays PLC
13:19
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Form 8.5 EPT/Non RI PICTON PROPERTY INCOME LIMITED

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AHT
AHT Ashtead Group PLC
13:19
Market

Court Approval Of The Scheme Of Arrangement

**Summary:** Ashtead Group PLC announced on February 24, 2026, that the Court has approved the Scheme of Arrangement, a plan to establish Sunbelt Rentals Holdings, Inc., a new Delaware corporation, as the holding company of the Ashtead gr…

**Summary**
Ashtead Group PLC announced on February 24, 2026, that the Court has approved the Scheme of Arrangement, a plan to establish Sunbelt Rentals Holdings, Inc., a new Delaware corporation, as the holding company of the Ashtead group. This move is part of the companys proposed new U.S. primary listing. The Scheme, initially proposed in February 2025 and approved by shareholders in June 2025, is conditional on the Court Order being delivered to the Registrar of Companies by February 27, 2026.
Key upcoming events include
Publication of the U.K. Prospectus on February 25, 2026.
Last day of dealings in Ashtead shares on February 27, 2026.
Scheme Effective Time at 1000 p.m. UK time on February 27, 2026.
De-listing of Ashtead shares and listing of Sunbelt Rentals shares on March 2, 2026, on both the London and New York stock exchanges.
Dispatch of statements of entitlement and DRS advice, as well as any cash due to shareholders, within 14 days after the New York Listing Effective Time.
The company will provide updates if any key dates change and will make a further announcement once the Scheme becomes effective. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are provided for enquiries.
Approvals
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AIE
AIE Ashoka India Equity Investm…
13:18
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Directorate change

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AFRK
AFRK Afarak Group Oyj
13:16
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TULOSVAROITUS – KÄYTTÖKATTEEN LASKU

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AFRK
AFRK Afarak Group Oyj
13:16
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PROFIT WARNING – DECREASE IN EBITDA

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ELSA
ELSA Electrica SA
13:09
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Electrica Signs a Memorandum with Liberty Galati

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17WI 17WI
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Post Stabilisation Notice ZKB 5yr Senior Unsecured

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NCC NCC Group plc
13:07
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Form 8.3

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GJ03
GJ03 GJ03
12:56
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Form 8.5 (EPT/RI)-Replacement of British Land

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GJ03
GJ03 GJ03
12:53
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Form 8.5 (EPT/RI)-Replacement of John Wood Group

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ABDN
ABDN Abrdn PLC
12:50
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Form 8.3 - LondonMetric Property plc

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REE
REE Altona Rare Earths PLC
12:48
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Exercise of Warrants

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GJ03
GJ03 GJ03
12:48
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Form 8.5 (EPT/RI)-Replacement of British Land

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ABDN
ABDN Abrdn PLC
12:46
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Form 8.3 - British Land Co PLC, The

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SOLG
SOLG SolGold PLC
12:42
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Form 8.3

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JUST
JUST Just Group plc
12:41
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Form 8.3

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JTC
JTC JTC PLC
12:38
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Form 8.3

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IPF
IPF International Personal Fina…
12:36
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Form 8.3

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STAN
STAN Standard Chartered PLC
12:36
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Publication of Supplementary Prospectus

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0UKI
0UKI Bank of Nova Scotia
12:22
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Publication of a Supplementary Prospectus

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0UKI
0UKI Bank of Nova Scotia
12:17
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Publication of a Supplementary Prospectus

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CCR
CCR C&C Group plc
12:10
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Directorate change

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PUAL
PUAL Puma Alpha VCT Ord
12:08
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Director/PDMR Shareholding

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0UKI
0UKI Bank of Nova Scotia
12:06
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Form 8.3 - NCC Group plc

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BME
BME B&M European Value Retail SA
12:01
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Director/PDMR Shareholding

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

<mark style="background-coloryellow">Purchase</mark> of ordinary shares
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QE58
QE58 QE58
11:59
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Annual Financial Report

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SOLG
SOLG SolGold PLC
11:54
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Form 8.3

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BRK
BRK Brooks Macdonald Group
11:53
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Form 8.3 - LondonMetric Property plc

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KITW
KITW Kitwave Group PLC
11:53
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Form 8.3

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0UKI
0UKI Bank of Nova Scotia
11:51
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Form 8.3 - JTC plc

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JTC
JTC JTC PLC
11:51
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Form 8.3

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BLND
BLND British Land Company PLC
11:51
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Form 8.3

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0UKI
0UKI Bank of Nova Scotia
11:49
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Form 8.3 - International Personal Finance plc

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BEZ
BEZ Beazley plc
11:49
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Form 8.3

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61DH
61DH 61DH
11:45
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Update related to Executive Management

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FL49
FL49 FL49
11:41
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Update related to Executive Management

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EMVC
EMVC EMV Capital plc
11:39
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TR-1

TR1 Buy

TR1 Buy
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FJ51 FJ51
11:34
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Final Terms

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CBKD
CBKD Commercial International Ba…
11:32
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Items of Extraordinary GA

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SDR
SDR Schroders PLC
11:24
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Form 8.3 - British Land Company PLC

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PUAL
PUAL Puma Alpha VCT Ord
11:21
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Issue of Equity

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XGDU
XGDU Xtrackers IE Physical Gold …
11:16
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Final Terms

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SNX
SNX Synectics plc
11:16
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Notice of Final Results and Investor Presentation

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XGDU
XGDU Xtrackers IE Physical Gold …
11:12
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Final Terms

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GDR
GDR genedrive plc
11:06
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Holding(s) in Company

TR1 Buy

TR1 Buy
['Robert English', '5.700000', '3.130000']
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TBCG
TBCG TBC Bank Group PLC
11:01
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TBC Strategy Day 2026

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MNG
MNG M&G Plc
10:57
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Form 8.3 - SPIRE HEALTHCARE GROUP PLC

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RAT
RAT Rathbone Brothers PLC
10:57
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Form 8.3 - Picton Property Income Limited

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RAT
RAT Rathbone Brothers PLC
10:55
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Form 8.3 - LondonMetric Property Plc

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RAT
RAT Rathbone Brothers PLC
10:51
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Form 8.3 - Bluefield Solar Income Fund Ltd

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FERG
FERG Ferguson Plc
10:46
Market

Ferguson Reports Strong Calendar 2025 Results and Issues 2026 Guidance

**Summary of Ferguson Enterprises Inc.s 2025 Financial Results and 2026 Guidance** Ferguson Enterprises Inc. reported strong financial results for the calendar year 2025, highlighting robust growth, improved margins, and strategic inves…

**Summary of Ferguson Enterprises Inc.s 2025 Financial Results and 2026 Guidance**
Ferguson Enterprises Inc. reported strong financial results for the calendar year 2025, highlighting robust growth, improved margins, and strategic investments. Key highlights include
**Revenue Growth**Sales increased by 5.0% to $31.3 billion, driven by organic growth of 4.5% and acquisition growth of 1.0%.
**Margin Expansion**Gross margin improved to 31.0%, up 70 basis points, while operating margin rose to 8.9%, up 40 basis points. Adjusted operating margin was 9.6%, up 50 basis points.
**Earnings Growth**Diluted earnings per share (EPS) increased by 24.2% to $10.16, with adjusted EPS up 13.4% to $10.58.
**Cash Generation**Operating cash flow was strong at $2.2 billion.
**Dividends and Share Repurchases**Declared dividends of $3.38 per share and repurchased $0.9 billion in shares, with $0.6 billion remaining under the current repurchase program.
**Acquisitions**Invested $276 million in eight acquisitions, adding annualized revenue of over $300 million.
**Balance Sheet Strength**Net debt to adjusted EBITDA ratio remained healthy at 1.1x.
**2026 Guidance**
**Net Sales**Low to mid-single digit growth.
**Adjusted Operating Margin**9.4% to 9.8%.
**Interest Expense**Approximately $200 million.
**Capital Expenditures**$350 to $400 million.
**Adjusted Effective Tax Rate**Around 26%.
**Strategic Focus**
Ferguson continues to focus on organic growth, strategic acquisitions, and returning capital to shareholders. The company is well-positioned to capitalize on long-term growth drivers in both residential and non-residential markets, particularly in water infrastructure, large capital projects, and climate & comfort solutions.
**Leadership Changes**
Brian Lantz, Vice President of Investor Relations and Communications, will retire on May 1, 2026. Pete Kennedy has been promoted to Vice President of Investor Relations, and Christine Dwyer to Vice President of Communications and Public Relations.
**Conclusion**
Ferguson delivered a strong performance in 2025, with continued market share gains and operational efficiency. The company remains optimistic about its growth prospects in 2026, supported by its scale-advantaged business model and strategic investments.
Here’s an HTML table comparing the year-on-year financials and debt for Ferguson Enterprises Inc. based on the provided text:
Metric2024 (in millions)2025 (in millions)Change
Net Sales$29,818$31,316+5.0%
Gross Margin30.3%31.0%+70 bps
Operating Profit$2,528$2,789+10.3%
Operating Margin8.5%8.9%+40 bps
Diluted Earnings per Share$8.18$10.16+24.2%
Adjusted EBITDA$2,905$3,243+11.6%
Net Debt: Adjusted EBITDA1.2x1.1x-0.1x
Capital Expenditures$328$354+7.9%
Dividends Paid$637$656+3.0%
Share Repurchases$893$902+1.0%
### Key Highlights: - **Net Sales**: Increased by 5.0% from $29.8 billion in 2024 to $31.3 billion in 2025. - **Gross Margin**: Improved by 70 basis points from 30.3% to 31.0%. - **Operating Profit**: Rose by 10.3% from $2.5 billion to $2.8 billion. - **Diluted Earnings per Share**: Surged by 24.2% from $8.18 to $10.16. - **Net Debt to Adjusted EBITDA**: Improved from 1.2x to 1.1x, indicating a stronger balance sheet. - **Capital Expenditures**: Increased by 7.9% from $328 million to $354 million. - **Dividends and Share Repurchases**: Both increased slightly, reflecting continued shareholder returns. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025 for Ferguson Enterprises Inc.
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VCT
VCT Victrex plc
10:42
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Norges Bank', '8.994780', '9.096290']
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PGV
PGV Praetura Growth Vct Plc
10:39
Market

Notification of Admission of Further Securities

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CWK
CWK Cranswick PLC
10:32
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Director/PDMR Shareholding

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IRSH
IRSH IRSH
10:29
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Form 8.3 - British Land Company plc

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IRSH
IRSH IRSH
10:26
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Form 8.3 - Just Group plc

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IRSH
IRSH IRSH
10:24
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Form 8.3 - Beazley plc

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IRSH
IRSH IRSH
10:23
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Form 8.3 - International Personal Finance plc

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IRSH
IRSH IRSH
10:22
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Form 8.3 -Schroders plc

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STAN
STAN Standard Chartered PLC
10:21
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Full Year 2025 Pillar 3 Disclosures

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FDR
FDR First Development Resources…
10:11
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['First Equity Limited', '4.849390', '3.448455']
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GJ03
GJ03 GJ03
10:05
Market

Form 8.5 (EPT/RI) - British Land Company plc, The

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AZN
AZN AstraZeneca PLC
10:01
Market

Annual Financial Report

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DO72
DO72 DO72
10:00
Market

Form 8.5 (EPT/NON-RI) - British Land Company plc

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MICC
MICC The Magnum Ice Cream Compan…
09:56
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Director/PDMR Shareholding

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AT.
AT. AT.
09:48
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Holding(s) in Company

TR1 Buy

TR1 Buy
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CMRS
CMRS Caerus Mineral Resources PLC
09:46
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Issue of Equity

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FAN
FAN Volution Group plc
09:36
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Notice of Half Year Results

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LTHM
LTHM James Latham PLC
09:26
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Employee Benefit Trust Shareholding

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IKA
IKA Ilika plc
09:22
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Award of Share Options

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BIRG
BIRG Bank of Ireland Group PLC
09:21
Market

Directorate Change

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48CF
48CF 48CF
09:15
Market

Pre Stabilisation Notice

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FCM
FCM First Class Metals PLC
09:14
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
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BEZ
BEZ Beazley plc
09:11
Market

Form 8.3

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0H7D
0H7D Deutsche Bank AG NA O.N.
09:10
Market

Form 8.5 (EPT/RI) Bluefield Solar Income Fund Ltd

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0H7D
0H7D Deutsche Bank AG NA O.N.
09:09
Market

Form 8.5 (EPT/RI) IQE Plc

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STAN
STAN Standard Chartered PLC
09:02
Market

Share Buy-Back

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CPI
CPI Capita PLC
09:01
Market

Director Declaration

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AIBG
AIBG AIB Group PLC
09:00
Market

Holding in Company

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HKLD
HKLD HONGKONG LAND HLDGS
08:59
Market

Transaction in Own Shares

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NBS
NBS Nationwide Building Society
08:52
Market

Admission to Trading

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JMAT
JMAT Johnson Matthey PLC
08:49
Market

Director/PDMR Shareholding

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WKP
WKP Workspace Group PLC
08:46
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Societe Generale', '5.149608', 0]
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PNS
PNS Panther Securities P L C
08:39
Market

Transaction in Own Shares and Other Matters

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GJ03
GJ03 GJ03
08:38
Market

Form 8.5 (EPT/RI)-Life Science REIT plc

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GJ03
GJ03 GJ03
08:32
Market

Form 8.5 (EPT/RI)-John Wood Group plc

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DO72
DO72 DO72
08:31
Market

Form 8.5 (EPT/NON-RI)-John Wood Group plc

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CRH
CRH CRH PLC
08:31
Market

Transaction in Own Shares

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DATA
DATA GlobalData PLC
08:22
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
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DFI
DFI Dairy Farm International Ho…
08:22
Market

Directorate Change

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VOF
VOF VinaCapital Vietnam Opportu…
08:22
Market

Monthly Report

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INVP
INVP Investec PLC
08:18
Market

Form 8.5 (EPT/RI)-Cab Payments Holdings PLC

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INVP
INVP Investec PLC
08:17
Market

Form 8.5 (EPT/RI)-NCC Group plc

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SDR
SDR Schroders PLC
07:57
Market

Form 8.3

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UFO
UFO Alien Metals Ltd
07:17
Market

Aircore Scout Drilling Opens at Elizabeth Hill

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0RLW
0RLW Commerzbank AG
07:03
Market

Pre Stabilisation Notice

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TUN
TUN Tungsten West PLC
07:02
Market

TR-1: Notification of major holdings

TR1 Buy

TR1 Buy
['Henry Maxey', '12.23', '8.45']
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MRO
MRO Melrose Industries PLC
07:01
Market

CFO succession

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THG
THG THG Holdings PLC
06:46
Market

PDMR/PCA Shareholding & TR-1 Notification

TR1 Buy

TR1 Buy
['Matthew Moulding', '20.240000', '18.760000']
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35ID
35ID 35ID
06:37
Market

Half-year Financial Report - THC Dartford Issuer

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VOD
VOD Vodafone Group PLC
06:33
Market

NOTICE OF REDEMPTION FOR DOLLAR NOTES DUE 2028

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WCW
WCW Walker Crips Group PLC
06:31
Market

Announcement of Court Sanction Hearing Location

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GJ03
GJ03 GJ03
06:30
Market

Form 8.5 (EPT/RI)-Oxford Biomedica plc

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DO72
DO72 DO72
06:26
Market

Form 8.5 (EPT/NON-RI)-Oxford Biomedica plc

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SLP
SLP Sylvania Platinum Limited
06:25
Market

Interim Financial Results

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INV
INV The Investment Company plc
06:16
Market

Half-year Financial Report

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BARC
BARC Barclays PLC
06:16
Market

Transaction in Own Shares

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0A3F
0A3F 0A3F
06:11
Market

Net Asset Value(s)

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

Net Asset Value(s)

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0A3E
0A3E 0A3E
06:11
Market

Net Asset Value(s)

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CMB1
CMB1 iShares FTSE MIB UCITS
06:11
Market

Net Asset Value(s)

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CGEO
CGEO Georgia Capital PLC
06:11
Market

Commencement of US$ 50 million buyback programme

**Summary:** Georgia Capital PLC announced the commencement of a US$ 50 million share buyback and cancellation programme on February 24, 2026. The programme, approved by the board of directors, will run for nine months, with shares purcha…

**Summary**
Georgia Capital PLC announced the commencement of a US$ 50 million share buyback and cancellation programme on February 24, 2026. The programme, approved by the board of directors, will run for nine months, with shares purchased on the open market and treasury shares cancelled monthly. The primary goal is to reduce share capital, with the maximum price per share not exceeding the la<mark style="background-color:yellow">test</mark> reported NAV per share. The programme is authorized to repurchase up to 3,150,275 shares, as approved by shareholders at the 2025 AGM, and complies with FCA Listing Rules and EU Market Abuse Regulations. Numis Securities Limited has been appointed to manage the irrevocable, non-discretionary buyback programme. Further announcements will be made following share repurchases. Georgia Capital focuses on investing in and developing businesses in Georgia, with holdings in retail, insurance, healthcare, and a significant stake in Lion Finance Group PLC. The company holds a BB- credit rating from S&P Global.
BuyBack
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0A3G
0A3G 0A3G
06:11
Market

Net Asset Value(s)

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BBY
BBY Balfour Beatty plc
06:11
Market

Transaction in Own Shares

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51OX
51OX 51OX
06:11
Market

Standard Chartered Bank - Annual Report 2025

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TPK
TPK Travis Perkins PLC
06:08
Market

Director Declaration

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MCB
MCB McBride plc
06:06
Market

Interim results for 6M ended 31 December 2025

**Summary of McBride PLC Interim Results for 6M Ended 31 December 2025** **Financial Performance** - **Revenue**: £475.2 million, up 0.8% year-on-year (down 2.1% on a constant currency basis), driven by volume growth in private label …

**Summary of McBride PLC Interim Results for 6M Ended 31 December 2025**
**Financial Performance**
**Revenue**£475.2 million, up 0.8% year-on-year (down 2.1% on a constant currency basis), driven by volume growth in private label and contract manufacturing.
**Adjusted Operating Profit**£31.5 million, slightly down from £32.0 million in 2024, with margins maintained at 6.6%.
**Adjusted EBITDA**£41.8 million, stable at 8.8% of revenue, reflecting operational efficiency and cost control.
**Profit Before Taxation**£23.0 million, down from £25.7 million in 2024, impacted by exceptional items.
**Adjusted Basic EPS**10.8p, down from 11.9p in 2024, due to one-off tax effects in the prior year.
**Net Debt**£120.6 million, up slightly from £117.6 million, despite £12.9 million in shareholder returns (dividends, share buybacks, and Employee Benefit Trust purchases).
**Operational Highlights**
**Volume Growth**Overall volumes up 0.4%, with private label volumes increasing by 0.9% and contract manufacturing volumes by 1.4%.
**SAP S/4HANA Implementation**Successful launch of Wave 1 in the UK, with the next wave expected across European sites in the next financial year.
**Transformation Agenda**On track to deliver £50 million in net benefits over five years, with cumulative benefits of £8.7 million as of 31 December 2025.
**Sustainability**Progress on decarbonization, renewable energy adoption, and employee training in climate literacy.
**Strategic Initiatives**
**Shareholder Returns**Reinstated dividends, share buyback program, and EBT purchases to reduce equity dilution.
**Customer Partnerships**Strengthened relationships and secured a healthy pipeline of new contracts for the second half of the year.
**Operational Efficiency**Focus on automation, cost optimization, and productivity improvements across manufacturing sites.
**Outlook**
**Second Half Expectations**In line with expectations, with good momentum driven by new contract wins and market share growth in private label.
**Market Conditions**Private label market share continues to grow, with material costs expected to remain flat and overhead costs under control.
**Full-Year Guidance**On track to meet analysts expectations for adjusted operating profit of £64.7 million.
**Divisional Performance**
**Liquids**Revenue stable at £269.0 million, with adjusted operating profit of £17.7 million (margin 6.6%).
**Unit Dosing**Revenue down 2.0% to £115.7 million, but adjusted operating profit improved to £12.5 million (margin 10.8%).
**Powders**Revenue up 2.0% to £44.9 million, with adjusted operating profit of £3.0 million (margin 6.7%).
**Aerosols**Revenue up 18.1% to £33.9 million, with adjusted operating profit of £2.1 million (margin 6.2%).
**Asia Pacific**Revenue stable at £11.7 million, with adjusted operating profit of £0.5 million (margin 4.3%).
**Conclusion**
McBride PLC delivered a solid first-half performance, maintaining profitability and operational efficiency despite inflationary pressures. The company remains focused on strategic growth, shareholder returns, and sustainability, with a positive outlook for the remainder of the financial year and beyond.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2025 (£m)2024 (£m)Change (£m)Change (%)
Revenue475.2471.43.80.8%
Adjusted Operating Profit31.532.0(0.5)(1.6%)
Operating Profit28.331.0(2.7)(8.7%)
Adjusted EBITDA41.841.70.10.2%
Adjusted Profit Before Taxation26.226.7(0.5)(1.9%)
Profit Before Taxation23.025.7(2.7)(10.5%)
Net Debt120.6117.63.02.6%
**Key Observations:** 1. **Revenue Growth:** Revenue increased slightly by 0.8% from £471.4m in 2024 to £475.2m in 2025. 2. **Profitability:** Adjusted operating profit decreased marginally by 1.6%, while operating profit saw a more significant decline of 8.7%. 3. **EBITDA Stability:** Adjusted EBITDA remained relatively stable, increasing by only 0.2%. 4. **Net Debt Increase:** Net debt increased by £3.0m (2.6%) from £117.6m in 2024 to £120.6m in 2025. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025.
Open Terminal Source RNS
OXB
OXB Oxford BioMedica PLC
06:04
Market

Full year Trading Update and Notice of Results

**Summary:** Oxford Biomedica PLC (OXB) released a full-year trading update for 2025, highlighting strong financial performance and strategic progress. Key points include: 1. **Revenue Growth**: FY 2025 revenues are expected to reach £16…

**Summary**
Oxford Biomedica PLC (OXB) released a full-year trading update for 2025, highlighting strong financial performance and strategic progress. Key points include
1. **Revenue Growth**FY 2025 revenues are expected to reach £166-169 million, a 30% increase from 2024 and nearly 90% growth since 2023, driven by sustained demand for viral vector services and operational efficiency.
2. **EBITDA Profitability**OXB achieved EBITDA profitability in 2025, with mid-to-high single-digit £ million Operating EBITDA, including a non-recurring gain from the Durham, NC acquisition. Underlying EBITDA (excluding the acquisition) is in line with guidance at low single-digit £ million.
3. **Contracted Orders**The contracted value of client orders increased by 20% to £224 million, reflecting strong demand from existing and new clients.
4. **Financial Position**OXB strengthened its balance sheet with a £60 million equity raise and a new $125 million loan facility, supporting capacity expansion and growth initiatives.
5. **Future Outlook**The company reiterated its guidance, expecting FY 2026 revenues of £220-240 million, with 25-30% annual growth in 2027 and 2028. EBITDA margins are projected to exceed 10% in 2026 and reach at least 20% in 2027, with long-term potential to approach 30%.
6. **Preliminary Results**OXB will announce its preliminary results for 2025 on March 26, 2026, with a virtual analyst briefing led by CEO Dr. Frank Mathias.
The update underscores OXBs successful execution of its CDMO strategy, strong commercial momentum, and optimism for continued growth and profitability in the coming years.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricFY 2024FY 2025 (Expected)Change
Revenues (£ million)128.8166-169 (168-171 CC)~30% increase
Operating EBITDA (£ million)(15.3) lossMid-to-high single-digit (CC)Pivot to profitability
Underlying Operating EBITDA (£ million)N/ALow single-digit (CC)N/A
Contracted Value of Client Orders (£ million)18622420% increase
Revenue Backlog (£ million)~150~204~36% increase
Gross Cash Position (£ million)N/A96.9N/A
Net Cash Position (£ million)N/A55.4N/A
Debt (Loan Facility Drawn, $ million)N/A60 (of which $50 million used to repay existing facility)N/A
### Key Notes: 1. **Revenues**: FY 2025 revenues are expected to increase by ~30% compared to FY 2024. 2. **Operating EBITDA**: FY 2025 is expected to pivot to mid-to-high single-digit profitability from a loss in FY 2024. 3. **Contracted Value of Client Orders**: Increased by 20% year-on-year. 4. **Revenue Backlog**: Increased by ~36% year-on-year. 5. **Cash Position**: FY 2025 shows a strengthened balance sheet with gross cash of £96.9 million and net cash of £55.4 million. 6. **Debt**: A new loan facility of $125 million was entered, with $60 million drawn, $50 million of which was used to repay existing debt. This table provides a clear year-on-year comparison of key financials and debt metrics.
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GWMO
GWMO Great Western Mining Corp P…
06:02
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Spreadex LTD', '0.000000', '0.000000']
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VNH
VNH VietNam Holding Limited
06:02
Market

Monthly Investor Report

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UTG
UTG Unite Group PLC
06:02
Market

Disposal of £186m asset to USAF

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PIN
PIN Pantheon International PLC
06:02
Market

Monthly Performance Update

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HVPE
HVPE HarbourVest Global Private …
06:02
Market

Transaction in Own Shares

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UTG
UTG Unite Group PLC
06:01
Market

Results for the year ended 31 December 2025

Unite Group PLC, a leading provider of student accommodation in the UK, reported its final results for the year ended December 31, 2025. The company demonstrated resilience in a challenging market, with strong trading across most of its po…

Unite Group PLC, a leading provider of student accommodation in the UK, reported its final results for the year ended December 31, 2025. The company demonstrated resilience in a challenging market, with strong trading across most of its portfolio, despite weaker demand in some cities. Key highlights include
**Financial Performance**Adjusted earnings increased by 9% to £232.3 million, and adjusted EPS grew by 2% to 47.5p. However, IFRS profit attributable to owners decreased by 78% to £97.6 million due to a valuation decrease in the property portfolio.
**Operational Metrics**Achieved 4.0% rental growth and 95.2% occupancy for the 2025/26 academic year, with 19 out of 22 cities averaging 97% occupancy.
**Strategic Progress**Increased alignment to high-tariff universities to 67%, with a target of 80%. Completed the acquisition of Empirics 7,700-bed portfolio, enhancing the offer to returning students.
**Capital Allocation**Commenced a £100 million share buyback program and disposed of St Pancras Way to USAF for £186 million, demonstrating disciplined capital management.
**Market Trends**Strong demand for higher education in the UK, with a 5% increase in 18-year-old applicants for 2026/27. New PBSA supply remains constrained, and the HMO sector is in decline.
**Future Outlook**Guidance for 2026/27 includes 2-3% rental growth and 93-96% occupancy, with adjusted EPS expected to be 41.5-43.0p, reflecting lower Empiric income and occupancy.
Unite Group is focused on operational excellence, optimal capital allocation, and strengthening university partnerships to drive long-term growth and shareholder value.
Here is the HTML table code comparing the financials and debt year on year for Unite Group PLC:
Metric20252024Change
Adjusted earnings (£m)232.3213.89%
Adjusted EPS (p)47.546.62%
IFRS profit attributable to owners (£m)97.6441.9(78%)
IFRS EPS (diluted) (p)19.996.1(79%)
Dividend per share (p)37.737.31%
EPRA NTA per share (p)955972(2%)
IFRS net assets per share (p)966982(2%)
Net debt: EBITDA6.0x5.5x0.5x
Loan to value27%24%+3ppts
**Notes:** * The table includes key financial metrics such as adjusted earnings, EPS, IFRS profit, dividends, NTA per share, and debt ratios. * The "Change" column shows the percentage change or difference between 2025 and 2024 values. * The table is based on the provided text, which contains Unite Group PLC's financial results for the year ended 31 December 2025, compared to the previous year.
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STAN
STAN Standard Chartered PLC
06:01
Market

Additional Financial Information Part 2

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STAN
STAN Standard Chartered PLC
06:01
Market

Additional Financial Information Part 1

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SEE
SEE Seeing Machines Limited
06:01
Market

Publication of Investor Presentation

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ACRM
ACRM Acuity RM Group Plc
06:01
Market

Contract win

**Summary:** Acuity RM Group PLC, a cybersecurity software provider specializing in the defense sector, announced a contract win to supply services to Sopra Steria, which serves the British government. The contract, valued at £75,000, inv…

**Summary**
Acuity RM Group PLC, a cybersecurity software provider specializing in the defense sector, announced a contract win to supply services to Sopra Steria, which serves the British government. The contract, valued at £75,000, involves enhancing the Classic STREAM software platform with automations and additional functionality for a highly sensitive cybersecurity program. This upsell builds on a three-year relationship that has already generated over £250,000 in revenue.
The partnership holds strategic significance, as Sopra Steria plans to develop a product based on Classic STREAM to help government and defense clients meet Secure by Design (SbD) cybersecurity requirements. Acuity’s CEO, David Rajakovich, highlighted the potential for material value creation and expressed pride in continuing to serve the UK government’s security needs. While no formal agreement has been finalized, discussions are ongoing, and Acuity anticipates providing further updates. This non-regulatory announcement underscores Acuity’s focus on sustainable growth through organic expansion and strategic partnerships.
NewContract
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RGG
RGG RGG
06:01
Market

Launch of New Website

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MET
MET Metir PLC
06:01
Market

Investor Webinar

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MAB1
MAB1 Mortgage Advice
06:01
Market

Notice of Final Results 2025 Investor Presentation

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CTUK
CTUK CT UK Capital And Income In…
06:01
Market

Kepler Trust Intelligence: New Research

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GEX
GEX Georgina Energy PLC
06:01
Market

Mt Winter EPA 155 ALRA RECEIVED

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TLM
TLM TLM
06:01
Market

Commencement of Exploration Work at Fougnar

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OHGR
OHGR One Health Group Plc
06:01
Market

Planning sign off and Surgical Hub construction

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CREO
CREO Creo Medical Group PLC
06:01
Market

Appointment of Joint Corporate Broker

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ALK
ALK Alkemy Capital Investments …
06:01
Market

TVL Appoints Wates group

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SWC
SWC Summerway Capital Plc
06:01
Market

Strategic Credit Facility Established w/ Coinbase

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EJFI
EJFI EJF Investments Ltd
06:01
Market

Block Listing Application

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OPTI
OPTI OptiBiotix Health Plc
06:01
Market

WellBiome® clinical trial on surgical outcomes

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SSE
SSE SSE PLC
06:01
Market

Notice of Redemption

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GCP
GCP GCP Infrastructure Investme…
06:01
Market

Change of Joint Corporate Broker

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CBKD
CBKD Commercial International Ba…
06:01
Market

Press Release dated 23th February 2026

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ULTP
ULTP Ultimate Products Plc
06:01
Market

EBT Share Purchase

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CWR
CWR Ceres Power Holdings PLC
06:01
Market

Notice of Results

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ZEG
ZEG Zegona Communications Plc
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Thornburg Investment Management, Inc.', '14.950000', '15.000000']
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ASAI
ASAI ASA International Group PLC
06:01
Market

Director/PDMR Shareholding

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

<mark style="background-coloryellow">Purchase</mark> of ordinary shares
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DNLM
DNLM Dunelm Group PLC
06:01
Market

Director/PDMR Shareholding

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RIO
RIO Rio Tinto PLC
06:01
Market

Director/PDMR Shareholding

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BBY
BBY Balfour Beatty plc
06:01
Market

GROUP CHIEF FINANCIAL OFFICER SUCCESSION

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HEMO
HEMO Hemogenyx Pharmaceuticals P…
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['david john smith', '7.038500', '6.750640']
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AZN
AZN AstraZeneca PLC
06:01
Market

Directorate change

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AET
AET Afentra PLC
06:01
Market

TR-1: Notification of Major Holdings

TR1 Buy

TR1 Buy
['David and Monique Newlands', '2.685', '2.571']
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THRL
THRL Target Healthcare REIT Ltd
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['BlackRock, Inc.', '5.010000', '4.930000']
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GWMO
GWMO Great Western Mining Corp P…
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Cantor Fitzgerald Europe', '8.350000', '16.680000']
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SRE
SRE Sirius Real Estate Limited
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['M&G Plc', '4.701055', '4.954031']
Open Terminal Source RNS
N4P
N4P N4 Pharma PLC
06:01
Market

CEO Appointment & Name Change Thalia Therapeutics

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UTG
UTG Unite Group PLC
06:01
Market

Appointment of Independent Non-Executive Director

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OPT
OPT Optima Health plc
06:01
Market

Director/PDMR Shareholding

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

<mark style="background-coloryellow">Purchase</mark> of shares
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BVXP
BVXP Bioventix
06:01
Market

Appointment of Non-Executive Director

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RCFX
RCFX RC Fornax Plc
06:01
Market

Final Results for the year ended 31 August 2025

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

<mark style="background-coloryellow"></mark>
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DEBS
DEBS BOOHOO GROUP PLC
06:01
Market

Admission, TVR and Director Dealings

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STAN
STAN Standard Chartered PLC
06:01
Market

Standard Chartered PLC - Annual Report 2025

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STAN
STAN Standard Chartered PLC
06:01
Market

SCPLC Final Results 2025

Neuteral News
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ESYS
ESYS Essensys PLC
06:01
Market

Recommended Cash Offer

**Summary:** Essensys PLC, a provider of software and technology for flexible workspace operators, has received a recommended cash offer from Essensys Bidco Limited ("Bidco"), a newly incorporated company backed by Mark Furness and member…

**Summary**
Essensys PLC, a provider of software and technology for flexible workspace operators, has received a recommended cash offer from Essensys Bidco Limited ("Bidco"), a newly incorporated company backed by Mark Furness and members of the Concert Party. The offer values Essensys at approximately £11.3 million, with a cash offer of 17 pence per share, representing a premium of 9.7% to the closing price on November 27, 2025.
**Key Points**
**Offer Details** The offer is subject to various conditions, including the acceptance of 90% of Essensys shares. Shareholders can choose between the cash offer or an alternative offer of one New Bidco Share for each Essensys share, which does not carry voting rights.
**Rationale** The offer aims to provide Essensys shareholders with certainty and value, while allowing the company to operate in a private setting, free from short-term public market pressures. This is expected to enable Essensys to focus on long-term strategic goals, customer needs, and product innovation.
**Concert Party** The Concert Party, including Mark Furness, William Currie, Terry Leahy, and others, currently holds 36.55% of Essensys shares. They believe private ownership will benefit Essensys by reducing financial and administrative burdens and improving access to capital.
**Recommendation** The Essensys Independent Directors recommend shareholders accept the cash offer, considering it fair and reasonable. They believe the offer provides a certain exit opportunity and facilitates strategic and operational benefits for stakeholders.
**Financing** The cash offer will be funded through a £10 million secured term loan facility.
**Next Steps** The offer is expected to become unconditional in the second quarter of 2026, after which Essensys will be re-registered as a private limited company and delisted from AIM.
This summary highlights the key aspects of the recommended cash offer for Essensys PLC, emphasizing the offer details, rationale, key players, and expected outcomes.
CashOffer
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BANK
BANK Fiinu PLC
06:01
Market

Operational Update - Plugin Overdraft®

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TRST
TRST Trustpilot Group PLC
06:01
Market

Transaction in Own Shares

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EGY
EGY VAALCO Energy Inc
06:01
Market

Operational Update

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AVCT
AVCT Avacta Group PLC
06:01
Market

PreCISION payload delivery advantage over ADC

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CCEP
CCEP Coca-Cola Europacific Partn…
06:01
Market

Transactions in Own Shares

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ZEG
ZEG Zegona Communications Plc
06:01
Market

Transaction in Own Shares

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ATM
ATM AfriTin Mining Ltd
06:01
Market

Thaisarco Strengthens Relationship with Andrada

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VTU
VTU Vertu Motors Plc
06:01
Market

Transaction in Own Shares

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INV
INV The Investment Company plc
06:01
Market

Proposals for the future of the Company

**Summary:** **Investment Company PLC** announced proposals for its future on February 24, 2026, following a review initiated in December 2025. The key elements of the proposals include: 1. **Appointment of a New Portfolio Manager**: Dow…

**Summary**
**Investment Company PLC** announced proposals for its future on February 24, 2026, following a review initiated in December 2025. The key elements of the proposals include
1. **Appointment of a New Portfolio Manager**: Dowgate Wealth Limited will replace Chelverton Asset Management Ltd (CAM) as the portfolio manager, subject to shareholder and regulatory approvals. Dowgate, a boutique wealth manager with £2 billion in assets under management, will lead the Companys portfolio under Jeremy McKeown, supported by their investment team.
2. **New Investment Policy**The Company will adopt a strategy focused on protecting and growing shareholders real purchasing power through a diversified portfolio of scarce, economically resilient assets. This includes foundational reserves, strategic equity participations, and inflation-protected instruments.
3. **Tender Offer**Existing shareholders will have the option to exit their investment at a 5% discount to the net asset value, providing liquidity for those who prefer not to remain invested under the new strategy.
4. **Capital Raise**The Company plans to raise new capital through a placing, offer for subscription, or a matched bargain facility to ensure sufficient scale for the new strategy.
5. **Conditions and Approvals**Implementation of the proposals is contingent on shareholder, regulatory, and court approvals, as well as successful capital raising. A circular with further details will be published, and the process is expected to complete in the second quarter of 2026.
The Board, led by Chairman Ian Dighe, expressed confidence in the proposals, emphasizing the Companys long heritage since 1868 and the need for a modern strategy. Dowgates Ben McKeown highlighted their expertise and commitment to revitalizing the Company for future growth. The proposals are inter-conditional, meaning they will only proceed if implemented in full.
Proposals
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BEM
BEM Beowulf Mining
06:01
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Conversion of Loan Notes

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BRK
BRK Brooks Macdonald Group
06:01
Market

Half-year Financial Report

**Summary of Brooks Macdonald Group PLCs Half-Year Financial Report (H1 2026)** Brooks Macdonald Group PLC reported its half-year results for the six months ending 31 December 2025, highlighting strong momentum and strategic progress. K…

**Summary of Brooks Macdonald Group PLCs Half-Year Financial Report (H1 2026)**
Brooks Macdonald Group PLC reported its half-year results for the six months ending 31 December 2025, highlighting strong momentum and strategic progress. Key financial and operational highlights include
### **Financial Highlights**
**Total Funds Under Management and Advice (FUMA):** Increased by 5% to £20.1 billion, driven by market and investment performance.
**Net Inflows** Positive net inflows of £2 million, the first half-year of positive flows since H2 2023.
**Revenue** Grew by 12% to £58.2 million, supported by higher financial planning and fee income.
**Underlying Profit Before Tax (PBT)** £13.6 million, with a margin of 23.4%.
**Statutory PBT:** £6.2 millionreflecting higher organic investmentM&Aand integration costs.
**Interim Dividend** Recommended at 31.0 pence per share, up 3%.
### **Strategic and Operational Highlights**
**Reignite Growth Strategy** Progress across all three strategic priorities, including investments in digital capability, AI, and product innovation.
**Brooks Financial Integration** Completed integration, achieving £1 million in annualised cost synergies and 98% client retention.
**Client Experience Enhancements** Launched a mobile app and improved onboarding through digitisation.
**AI Deployment** Reduced administrative burden, freeing capacity for client service.
**Efficiency Gains** Delivered £3 million in annualised savings through organisational restructuring.
**Investment Performance** Strong performance in Managed Portfolio Service (MPS) and Bespoke Portfolio Service (BPS), with Defaqto Gold award for Discretionary Fund Management Service.
### **Outlook**
Expects H1 revenue trends to continue into H2, with costs remaining broadly in line.
Full-year 2026 performance expected to align with market expectations.
Confident in delivering medium-term targets of +5% annualised net flows and <5% BAU cost growth.
### **Key Metrics**
**Revenue** £58.2 million (+12% YoY).
**Underlying Operating Expenses** £45.4 million (+20% YoY, including acquisitions).
**Underlying PBT** £13.6 million (-12% YoY).
**Statutory PBT** £6.2 million (-51% YoY).
**Interim Dividend** 31.0 pence per share (+3% YoY).
### **Conclusion**
Brooks Macdonald demonstrated resilience and growth in H1 2026, with positive net flows, revenue growth, and strategic advancements. The company remains focused on its Reignite Growth strategy, leveraging technology and efficiency to drive sustainable growth and enhance client service.
Here is a comparison of the financials and debt year on year presented as an HTML table:
MetricH1 2026 (£ millions)H1 2025 (£ millions)Change
Total Funds Under Management and Advice (FUMA)20.119.15%
Net Inflows2-262N/A (from outflow to inflow)
Revenue58.251.912%
Underlying Operating Expenses45.437.820%
Underlying Profit Before Tax (PBT)13.615.5-12%
Statutory PBT6.212.6-51%
Interim Dividend per Share (pence)31.030.03%
Net Debt (Cash Resources and Liquid Assets)27.053.8-49%
**Notes:** * The table compares key financial metrics between H1 2026 and H1 2025. * Net Debt is represented by Cash Resources and Liquid Assets, as there is no explicit debt figure provided in the text. * The change in Net Inflows is marked as N/A since it's a shift from outflow to inflow. This table provides a concise overview of the year-on-year changes in Brooks Macdonald Group PLC's financials and debt position.
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REE
REE Altona Rare Earths PLC
06:01
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Application to Trade on OTCQB Market

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FRAS
FRAS Frasers Group PLC
06:01
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Transaction in Own Shares

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CRE
CRE Conduit Holdings Ltd
06:01
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Transaction in Own Shares

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MVCT
MVCT Molten Ventures VCT PLC
06:01
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Offer for Subscription - Update

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CTEC
CTEC ConvaTec Group PLC
06:01
Market

Convatec FY25 Results

**Summary of Convatec FY25 Results:** Convatec Group PLC reported strong financial results for the year ended December 31, 2025, with key highlights including: 1. **Revenue Growth**: Reported revenue increased by 6.5% to $2,439 million, …

**Summary of Convatec FY25 Results**
Convatec Group PLC reported strong financial results for the year ended December 31, 2025, with key highlights including
1. **Revenue Growth**Reported revenue increased by 6.5% to $2,439 million, driven by broad-based organic growth across all categories, geographies, and products. Organic revenue growth excluding InnovaMatrix® was 6.4%.
2. **Margin Improvement**Adjusted operating margin expanded by 110 basis points to 22.3%, despite challenges like a $30 million reduction in InnovaMatrix® sales and incremental tariffs. This improvement was fueled by operational efficiencies, pricing strategies, and operational leverage.
3. **Earnings Growth**Adjusted diluted EPS grew by 16.0% to 17.6 cents, reflecting strong operational performance and margin expansion.
4. **Cash Generation**Free cash flow to equity was $362 million, supporting investments in growth, dividends, and share buybacks. The company returned $300 million to shareholders via share repurchases.
5. **Dividend Increase**The final dividend for 2025 was increased by 13% to 5.367 cents per share, bringing the full-year dividend to 7.244 cents per share.
6. **Strategic Investments**Convatec invested $185 million in capital expenditures, focusing on capacity expansion, new product development, and automation to meet rising demand.
7. **Product Innovations**Key product launches and innovations, such as ConvaFoamTM, Esteem BodyTM, and GentleCath AirTM, drove growth and market share gains across categories.
8. **Medium-Term Outlook**Convatec upgraded its medium-term organic revenue growth target to 6-8% from 2027, supported by a rich innovation pipeline and successful strategy implementation.
9. **Financial Position**The company secured investment-grade status, extended its financing maturity, and maintained a strong balance sheet with net debt of $1,330 million, equivalent to 2.0x adjusted EBITDA.
10. **Future Prospects**Convatec expects double-digit adjusted EPS growth in FY26, with organic revenue growth of 5-7% excluding InnovaMatrix®, and continued margin expansion to at least 23.0%.
Overall, Convatecs FY25 results demonstrate resilient growth, strategic execution, and a strong foundation for future performance, underpinned by innovation, operational excellence, and disciplined capital allocation.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY 2025FY 2024Change
Revenue$2,439m$2,289m6.5%
Operating Profit (Reported)$316m$325m(2.7%)
Operating Profit (Adjusted)$544m$485m12.1%
Operating Margin (Reported)13.0%14.2%(120 bps)
Operating Margin (Adjusted)22.3%21.2%110 bps
Diluted EPS (Reported)8.6 cents9.3 cents(7.1%)
Diluted EPS (Adjusted)17.6 cents15.2 cents16.0%
Free Cash Flow to Equity$362m$361m0.1%
Net Debt$1,330m$1,058m25.7%
Net Debt/Adjusted EBITDA2.0x1.8x11.1%
**Key Observations:** - **Revenue Growth:** Revenue increased by 6.5% from FY 2024 to FY 2025, driven by broad-based organic growth across categories, geographies, and products. - **Operating Profit:** Reported operating profit decreased slightly by 2.7%, while adjusted operating profit increased by 12.1%, reflecting strong underlying performance. - **Margins:** Adjusted operating margin improved by 110 basis points to 22.3%, despite challenges like the InnovaMatrix® CMS rate change. - **EPS Growth:** Adjusted diluted EPS grew by 16.0%, demonstrating strong earnings growth. - **Debt Increase:** Net debt increased by 25.7%, primarily due to increased borrowings, including the issuance of senior unsecured notes. The net debt to adjusted EBITDA ratio increased to 2.0x, still within the target range. This table provides a concise comparison of key financial metrics and debt levels between FY 2024 and FY 2025 for Convatec Group PLC.
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MLVN
MLVN Malvern International
06:01
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Result of Retail Offer

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APTD
APTD Aptitude Software Group PLC
06:01
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Transaction in Own Shares

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UPR
UPR Uniphar Group PLC
06:01
Market

2025 Preliminary Results

**Summary of Uniphar PLCs 2025 Preliminary Results:** Uniphar PLC, an international healthcare services company, reported strong financial results for 2025, highlighting significant growth across key metrics. The company achieved: - **Or…

**Summary of Uniphar PLCs 2025 Preliminary Results:**
Uniphar PLC, an international healthcare services company, reported strong financial results for 2025, highlighting significant growth across key metrics. The company achieved
**Organic Gross Profit Growth** 8.9%, the fastest rate since its IPO, driven by strong performance in all divisions, particularly Pharma (15.5%) and Medtech (10.5%).
**Adjusted EPS Growth** 21%, reaching 24.8 cents, supported by lower finance costs and a €35 million share buyback program.
**Revenue Growth** 11.0% to €3.1 billion, with constant currency growth at 11.1%.
**EBITDA Growth** 6.0% to €130.9 million, with organic growth at 9.0%.
**Net Bank Debt** Increased to €171.1 million, with leverage at 1.6x.
**Dividend** Total dividend of €5.2 million, representing a 5.2% per share increase year-on-year.
**Strategic Highlights**
Completed a €35 million share buyback program, repurchasing 13.4 million shares.
Acquired TouchStore to enhance digital and technology offerings in the pharmacy sector.
Progressed key strategic investments, including a new high-tech distribution facility in Ireland, scheduled for phased operation in mid-2026.
Maintained strong ESG ratings, including MSCI AAA and CDP B for the fourth consecutive year.
**Outlook**
Uniphar expects continued strong organic Gross Profit growth in line with its medium-term guidance. The company remains on track to achieve its target of €200 million EBITDA by 2028, with at least 80% of growth expected to be organic.
**CEO Comment**
Ger Rabbette, CEO, expressed satisfaction with the results, highlighting the fastest organic Gross Profit growth since IPO and strong Adjusted EPS growth. He reaffirmed confidence in achieving the 2028 EBITDA target.
**Financial Summary**
**Gross Profit** Increased 7.0% to €457.7 million, with a margin of 14.9%.
**Operating Profit** Decreased 6.2% to €76.9 million due to exceptional items.
**Profit Before Tax (Excluding Exceptionals):** Grew 17.4% to €71.8 million.
**Free Cash Flow Conversion** 99.1%, supported by favorable working capital movements.
**Divisional Performance**
**Uniphar Pharma** 15.5% organic Gross Profit growth, driven by Global Sourcing and clinical trial supply.
**Uniphar Medtech** 10.5% organic Gross Profit growth, supported by geographic expansion and new supplier rollouts.
**Uniphar Supply Chain & Retail** 4.2% organic Gross Profit growth, with strong volume growth in Supply Chain.
**Balance Sheet and Liquidity**
Robust balance sheet with net bank debt of €171.1 million and leverage at 1.6x.
Extended revolving credit facility maturity to August 2029 and placed a new €150 million term loan.
**Sustainability**
Reduced Scope 1 and 2 emissions by 29.9% since 2019.
Continued progress on Science-Based Targets and strong ESG ratings.
**Analyst Presentation**
A conference call for analysts and investors was scheduled for February 24, 2026, with details available on the company’s website.
**Conclusion**
Uniphar PLC delivered a strong performance in 2025, with significant growth across key financial metrics and strategic advancements. The company remains well-positioned for future growth, supported by its diversified healthcare services portfolio and strategic investments.
Here is the HTML table code comparing the financials and debt year on year for Uniphar PLC:
Metric2025 (€'000)2024 (€'000)Change
Revenue3,074,7042,770,42911.0%
Gross Profit457,692427,6047.0%
EBITDA130,909123,4586.0%
Operating Profit76,87581,989(6.2%)
Profit before tax71,79561,13017.4%
Net bank debt(171,139)(147,676)(15.9%)
Basic EPS (cent)19.523.5(17.0%)
Adjusted EPS (cent)24.820.521.0%
Leverage (times)1.551.475.4%

Key Observations:

  • Revenue increased by 11.0% from 2024 to 2025, driven by strong volume growth across all divisions.
  • Gross Profit grew by 7.0%, with organic growth of 8.9%, the fastest rate since IPO.
  • EBITDA increased by 6.0%, with organic EBITDA growth of 9.0%.
  • Net bank debt increased by 15.9%, resulting in a higher leverage ratio of 1.55 times in 2025 compared to 1.47 times in 2024.
  • Adjusted EPS grew by 21.0%, reflecting strong business performance and the positive impact of lower finance costs and share buybacks.
This table provides a clear comparison of key financial metrics and debt between 2024 and 2025 for Uniphar PLC. The observations highlight the company's strong revenue and profit growth, as well as the increase in debt and leverage ratio.
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DNLM
DNLM Dunelm Group PLC
06:01
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Transaction in Own Shares

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BCG
BCG Baltic Classifieds Group PLC
06:01
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Transaction in Own Shares

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LSL
LSL LSL Property Services Plc
06:01
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Transaction in own Shares and Total Voting Rights

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

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BPM
BPM B P Marsh and Partners PLC
06:01
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Trading Update

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PRIS
PRIS PRIS
06:01
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Corporate Update

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CRDA
CRDA Croda International PLC
06:01
Market

Results for the year ended 31 December 2025

**Summary of Croda International PLCs Final Results for the Year Ended 31 December 2025** Croda International PLC, a leading specialty chemicals company, announced its final results for the year ended 31 December 2025, highlighting encour…

**Summary of Croda International PLCs Final Results for the Year Ended 31 December 2025**
Croda International PLC, a leading specialty chemicals company, announced its final results for the year ended 31 December 2025, highlighting encouraging progress in delivering its growth and returns strategy despite an uncertain trading environment.
**Financial Highlights**
**Sales Growth** Group sales increased by 4.4% to £1,699.4 million, with a 6.6% growth at constant currency. Consumer Care and Life Sciences segments led the growth, with sales up 8% in both segments.
**Adjusted Operating Profit** Adjusted operating profit rose by 7.9% to £295.3 million at constant currency, driven by improved profitability in Consumer Care and Life Sciences.
**Adjusted Profit Before Tax** Adjusted profit before tax increased by 8.4% to £276.2 million, or £282.0 million at constant currency.
**Dividend** The full-year dividend was increased by 1p to 111p per share.
**Business Performance**
**Consumer Care** Sales grew by 8% at constant currency, with strong performance in Fragrances and Flavours (F&F), Beauty Actives, and Beauty Care.
**Life Sciences** Sales increased by 8% at constant currency, driven by growth in Crop Protection and Pharma.
**Industrial Specialties** Sales declined by 2% at constant currency due to lower sales volumes.
**Strategic Progress**
**Innovation** Croda refocused its innovation efforts, introducing a new rigorous framework and reallocating R&D resources to prioritize customer-centric innovation.
**Customer Experience** The company improved customer experience through tailored solutions, bespoke service packages, and regionalization of claims testing and formulation support.
**Transformation Program** Crodas transformation program delivered £28 million in gross benefits in 2025, with a target of £100 million in total annualized benefits by 2028.
**Financial Framework to 2028**
Croda set out a new financial framework to 2028, targeting
**Sales Growth** 3-6% organic sales growth CAGR
**Adjusted Operating Margin** >20% by 2028
**Free Cash Flow-to-Sales Ratio** >12% by 2028
**Return on Invested Capital (ROIC)** >10% by 2028
**2026 Outlook**
For 2026Croda expects
**Group Organic Sales Growth** Within the 3-6% range
**Adjusted Operating Margin** Further increase driven by improving profitability in Consumer Care and Life Sciences
**Adjusted Operating Profit** In line with current market expectations at constant currency
**Conclusion**
Croda International PLC demonstrated resilience and progress in 2025, delivering sales growth, improved profitability, and strategic advancements despite market challenges. The companys financial framework to 2028 and 2026 outlook reflect its confidence in achieving sustainable growth, enhanced profitability, and improved returns on capital.
Here is an HTML table comparing the financials and debt year on year for Croda International PLC based on the provided text:
Metric2025 (£m)2024 (£m)Change
Sales1,699.41,628.14.4%
EBITDA396.6378.35.0%
Operating Profit295.3279.75.6%
Profit Before Tax276.2260.06.2%
Free Cash Flow161.6169.6(4.7%)
Net Debt523.8532.3(1.6%)
**Key Observations:** * **Sales Growth:** Croda International PLC experienced a 4.4% increase in sales from 2024 to 2025, reaching £1,699.4 million. * **EBITDA and Operating Profit:** Both EBITDA and operating profit showed growth, with EBITDA increasing by 5.0% and operating profit by 5.6%. * **Profit Before Tax:** Profit before tax also increased by 6.2%, indicating improved profitability. * **Free Cash Flow:** Free cash flow decreased slightly by 4.7%, but remained positive at £161.6 million. * **Net Debt Reduction:** The company successfully reduced its net debt by 1.6%, from £532.3 million in 2024 to £523.8 million in 2025. This table provides a concise overview of Croda International PLC's financial performance and debt position, highlighting areas of growth and improvement.
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KGF
KGF Kingfisher PLC
06:01
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Transaction in Own Shares

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IHG
IHG InterContinental Hotels Gro…
06:01
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Transaction in Own Shares

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GROW
GROW Draper Esprit PLC
06:01
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Transaction in Own Shares

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0QT8
0QT8 Irish Residential Propertie…
06:01
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Acquisition of 77 Residential Units

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AO.
AO. AO.
06:01
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Transaction in Own Shares

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TENG
TENG Ten Lifestyle Group PLC
06:01
Market

Ten wins Large contract with financial provider

**Summary:** Ten Lifestyle Group plc (AIM: TENG), a global concierge technology platform, has secured a new multi-year contract with a leading financial services provider in the AMEA region. The contract, categorized as "Large" (valued be…

**Summary**
Ten Lifestyle Group plc (AIMTENG), a global concierge technology platform, has secured a new multi-year contract with a leading financial services provider in the AMEA region. The contract, categorized as "Large" (valued between £2m and £5m annually), involves launching a digitally enabled customer experience program for the providers High and Ultra Net Worth clients. Ten will establish a new in-market operating presence to support this initiative, enhancing service coverage and operational capability in a high-growth region. The transition from the incumbent provider is expected to begin in the second half of Tens financial year ending 31 August 2026, with full contract implementation anticipated in FY 2027. This win underscores Tens commitment to driving customer loyalty for global financial institutions and premium brands, leveraging its proprietary technology, supplier relationships, and 27 years of expertise. Ten remains dedicated to sustainability and ethical business practices as the first B Corp-certified company on the AIM market.
NewContract
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HTG
HTG Hunting PLC
06:01
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Transaction in Own Shares

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JET2
JET2 Jet2 PLC
06:01
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Transaction in Own Shares

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CGEO
CGEO Georgia Capital PLC
06:01
Market

Final Results

**Summary:** Georgia Capital PLC, a London-listed investment entity, reported strong financial results for the fourth quarter (4Q25) and full year (FY25) of 2025. Key highlights include: - **Net Asset Value (NAV) Growth:** NAV per share …

**Summary**
Georgia Capital PLC, a London-listed investment entity, reported strong financial results for the fourth quarter (4Q25) and full year (FY25) of 2025. Key highlights include
**Net Asset Value (NAV) Growth** NAV per share increased by 14.1% quarter-on-quarter (q-o-q) in 4Q25 and 61.2% year-on-year (y-o-y) in FY25, driven by portfolio value growth, share buybacks, and strong operating performance across private portfolio companies.
**Portfolio Performance** The total portfolio value reached GEL 5.1 billion in 4Q25, up 9.4% q-o-q. Listed portfolio value increased by 14.9% q-o-q, primarily due to Lion Finance Groups share price appreciation. Private portfolio value grew by 4.5% q-o-q, led by value creation, investments, and dividend payments.
**Private Portfolio Companies** Large private portfolio companies, including retail (pharmacy), insurance, and healthcare services, delivered outstanding operational results. Aggregated revenues and EBITDA increased by 11.8% and 17.8% y-o-y, respectively, in 4Q25.
**Lion Finance Group** Lion Finance Groups share price rose by 21.6% q-o-q in 4Q25 and 97.5% y-o-y in FY25, contributing significantly to the listed portfolios value creation.
**Share Buybacks** Georgia Capital completed a US$ 50 million share buyback and cancellation program in January 2026, repurchasing 1.5 million shares. A new US$ 50 million share buyback program was launched in February 2026.
**Net Capital Commitment (NCC) Ratio** The NCC ratio improved to a record low of 2.3% in 4Q25, reflecting strong cash generation and portfolio value growth.
**Financial Performance** Adjusted IFRS net income was GEL 598.9 million in 4Q25 and GEL 1,870.4 million in FY25. Gross operating income increased by 15.3% y-o-y in FY25, primarily due to dividend collections.
**Valuation** Independent valuation assessments were performed for retail (pharmacy), insurance, healthcare services, renewable energy, and education businesses, using income and market approaches.
**Outlook** Georgia Capital expects continued robust NAV per share growth, driven by Lion Finance Groups performance, private portfolio companies growth, deleveraging, and share buybacks.
**Key Financials (GEL 000unless otherwise noted):**
NAV per share: GEL 154.68 (4Q25)up 14.1% q-o-q and 61.2% y-o-y
Total portfolio value: GEL 5074885 (4Q25)up 9.4% q-o-q and 34.9% y-o-y
Adjusted IFRS net income: GEL 598877 (4Q25)up 37.5% y-o-y
GEL 1870441 (FY25)up NMF y-o-y
Dividend income: GEL 57692 (4Q25)up NMF y-o-y
GEL 225534 (FY25)up 11.8% y-o-y
**Key Ratios**
NCC ratio2.3% (4Q25), down 3.1 ppts q-o-q and 10.5 ppts y-o-y
Net debt to EBITDA leverage ratio (retail pharmacy): 1.3x (31-Dec-25)
Combined ratio (P&C insurance)90.9% (4Q25), up 1.0 ppt y-o-y
EBITDA margin (healthcare servicesexcl. IFRS 16): 19.7% (4Q25)up 0.4 ppts y-o-y
**Key Developments**
Completion of US$ 50 million share buyback program and launch of a new program
Strong performance across private portfolio companies, particularly in retail, insurance, and healthcare services
Continued growth and value creation from Lion Finance Group
Improved NCC ratio, reflecting strong cash generation and portfolio value growth
Successful social bond issuance by healthcare services business
**Outlook**
Georgia Capital expects to maintain its strong performance, driven by
Lion Finance Groups exceptional performance in Georgia and Armenia
Robust growth across private portfolio companies
Significant deleveraging at the holding level
Strong cash generation, enabling share buybacks and capital returns
The company remains well-positioned to capitalize on its portfolios growth potential and deliver attractive returns to shareholders.
Here is a comparison of the financials and debt year on year for Georgia Capital PLC, presented as an HTML table:
MetricDec-24Dec-25Change
NAV per share (GEL)95.95154.6861.2%
NAV per share (GBP)27.1442.4456.4%
Net Asset Value (NAV)3,609,0135,194,52743.9%
Cash, liquid funds and accrued dividends278,237239,801-13.8%
Gross debt(432,662)(139,128)-67.8%
Net debt(154,425)102,909NMF
NCC ratio12.8%2.3%-10.5 ppts
Total portfolio value3,761,4905,074,88534.9%
Net income350,3241,870,441NMF
**Notes:** * NMF = Not Meaningful (due to significant changes or non-comparable figures) * The table compares key financial metrics between December 2024 (Dec-24) and December 2025 (Dec-25) * Metrics include NAV per share, Net Asset Value, cash and debt positions, NCC ratio, total portfolio value, and net income * The "Change" column shows the percentage change between Dec-24 and Dec-25 * The table highlights significant improvements in NAV, portfolio value, and net income, as well as a substantial reduction in gross debt and NCC ratio
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AEP
AEP Anglo-Eastern Plantations P…
06:01
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Transaction in Own Shares

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PLUS
PLUS Plus500 Ltd
06:01
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Transaction in Own Shares

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PSON
PSON Pearson PLC
06:01
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Transaction in Own Shares

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BWY
BWY Bellway PLC
06:01
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Transaction in Own Shares

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BPT
BPT Bridgepoint Group Plc
06:01
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Transaction in Own Shares

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AJB
AJB AJ Bell plc
06:01
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Transaction in Own Shares

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FUTR
FUTR Future PLC
06:01
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Transaction in Own Shares

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CLIG
CLIG City Of London Investment G…
06:01
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Half Year Results and Dividend Declaration

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GLV
GLV Glenveagh Properties PLC
06:01
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Transaction in Own Shares

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HTWS
HTWS Helios Towers Plc
06:01
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Transaction in Own Shares

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POLN
POLN Pollen Street PLC
06:01
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Transaction in Own Shares

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UTG
UTG Unite Group PLC
06:01
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Transaction in Own Shares

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VLG
VLG Venture Life Group PLC
06:01
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Transaction in Own Shares

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NXQ
NXQ Nexteq PLC
06:01
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Transaction in Own Shares and Total Voting

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BTG
BTG BTG Consulting plc
06:01
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Third Quarter Trading Update

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BRES
BRES Blencowe Resources Plc
06:01
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Final Ilyan Drilling Results

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PETS
PETS Pets at Home Group Plc
06:01
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Transaction in Own Shares

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CLBS
CLBS Celebrus Technologies plc
06:01
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Transaction in Own Shares

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PRU
PRU Prudential plc
06:01
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Transaction in Own Shares

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TPX
TPX TPXimpact Holdings plc
06:01
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Q3 Trading Update: EBITDA guidance Upgrade

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HSW
HSW Hostelworld Group PLC
06:01
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Transaction in Own Shares

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AAF
AAF Airtel Africa Plc
06:01
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Transaction in Own Shares

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GMR
GMR Gaming Realms plc
06:01
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Transaction in Own Shares

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RCP
RCP RIT Capital Partners
06:01
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Transaction in Own Shares

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KETL
KETL Strix Group Plc
06:01
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Transaction in Own Shares

Open Terminal Source RNS
GSK
GSK GSK plc
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
TRN
TRN Trainline Plc
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
PIN
PIN Pantheon International PLC
06:01
Market

Transaction in Own Shares

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KYGA
KYGA Kerry Group
06:01
Market

Transaction in Own Shares

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HICL
HICL HICL Infrastructure Company…
06:01
Market

Transaction in Own Shares

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GBG
GBG GB Group plc
06:01
Market

Transaction in Own Shares

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PPET
PPET Patria Private Equity Trust
06:01
Market

Transaction in Own Shares

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MERC
MERC Mercia Technologies PLC
06:01
Market

Transaction in Own Shares

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IWG
IWG IWG PLC
06:01
Market

Transaction in Own Shares

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SAG
SAG Science Group plc
06:01
Market

Transaction in Own Shares

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BTRW
BTRW Barratt Redrow plc
06:01
Market

Transaction in Own Shares

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TRIG
TRIG Renewables Infrastructure G…
06:01
Market

Transaction in Own Shares

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HILS
HILS Hill & Smith Holdings PLC
06:01
Market

Transaction in Own Shares

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BA.
BA. BA.
06:01
Market

Transaction in Own Shares

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SSPG
SSPG SSP Group PLC
06:01
Market

Transaction in Own Shares

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ROR
ROR Rotork PLC
06:01
Market

Transaction in Own Shares

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GFRD
GFRD Galliford Try PLC
06:01
Market

Transaction in Own Shares

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WTB
WTB Whitbread PLC
06:01
Market

Transaction in Own Shares

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IGG
IGG IG Group Holdings PLC
06:01
Market

Transaction in Own Shares

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STAF
STAF Staffline Group Plc
06:01
Market

Transaction in Own Shares and Total Voting Rights

Open Terminal Source RNS
INF
INF Informa PLC
06:01
Market

Transaction in Own Shares

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CURY
CURY Currys PLC
06:01
Market

Transaction in Own Shares

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ESCT
ESCT The European Smaller Compan…
06:01
Market

Half-year Financial Report

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BAB
BAB Babcock International Group…
06:01
Market

Transaction in Own Shares

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CHRY
CHRY Chrysalis Investments Ltd
06:01
Market

Transaction in Own Shares

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EXPN
EXPN Experian PLC
06:01
Market

Transaction in Own Shares

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AHT
AHT Ashtead Group PLC
06:01
Market

Transaction in Own Shares

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STEM
STEM SThree plc
06:01
Market

Transaction in Own Shares

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EDIN
EDIN Edinburgh Investment Trust
06:01
Market

Transaction in Own Shares

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DRX
DRX Drax Group PLC
06:01
Market

Transaction in Own Shares

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QQ.
QQ. QQ.
06:01
Market

Transaction in Own Shares

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MRO
MRO Melrose Industries PLC
06:01
Market

Transaction in Own Shares

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KNOS
KNOS Kainos Group PLC
06:01
Market

Transaction in Own Shares

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VOF
VOF VinaCapital Vietnam Opportu…
06:01
Market

Transaction in Own Shares

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EYE
EYE Eagle Eye Solutions Group p…
06:01
Market

Transaction in Own Shares

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FEVR
FEVR Fevertree Drinks Plc
06:01
Market

Transaction in Own Shares

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NCC
NCC NCC Group plc
06:01
Market

Transaction in Own Shares

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HREE
HREE Harena Rare Earths Plc
06:01
Market

Completion of £2,000,000 Subscription

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GAMA
GAMA Gamma Communications PLC
06:01
Market

Transaction in Own Shares

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PAY
PAY PayPoint plc
06:01
Market

Transaction in Own Shares

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GYM
GYM The GYM Group PLC
06:01
Market

Transaction in Own Shares

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KEN
KEN Kendrick Resources PLC
06:01
Market

Exercise of warrants and Total Voting Rights

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VTY
VTY Vistry Group PLC
06:01
Market

Transaction in Own Shares

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ESNT
ESNT Essentra PLC
06:01
Market

Transaction in Own Shares

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VEIL
VEIL Vietnam Enterprise Investme…
06:01
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Transaction in Own Shares

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BGO
BGO Bango plc
06:01
Market

Director/PDMR Shareholding

PDMR Share <mark style="background-color:yellow">Purchase</mark>s via Employee Share Incentive Plan

PDMR Share <mark style="background-coloryellow">Purchase</mark>s via Employee Share Incentive Plan
Open Terminal Source RNS
ESYS
ESYS Essensys PLC
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['IG Markets Limited', '0.000000', '0.000000']
Open Terminal Source RNS
IMC
IMC IMC Exploration Group Publi…
06:01
Market

Results of Laboratory Study

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MOON
MOON Moonpig Group PLC
06:01
Market

Transaction in Own Shares

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OXIG
OXIG Oxford Instruments PLC
06:01
Market

Transaction in Own Shares

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CPI
CPI Capita PLC
06:01
Market

Proforma financial data: closed book Life & Pensions

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OSB
OSB OneSavings Bank PLC
06:01
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OSB GROUP PLC - Transaction in Own Shares

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FSG
FSG Foresight Group Holdings Li…
06:01
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Transaction in Own Shares

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PSH
PSH Pershing Square Holdings Ltd
06:01
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Transaction in Own Shares

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ICGT
ICGT ICG Enterprise Trust PLC
06:01
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Transaction in Own Shares

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NBPE
NBPE NB Private Equity Partners …
06:01
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NBPE Announces Transaction in Own Shares

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IGN
IGN AB Ignitis grupe
06:01
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Selected candidates for the Management Board of AB “Ignitis grupė”

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TTE
TTE TotalEnergies SE
06:01
Market

Transaction in Own Shares

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

Transaction in Own Shares

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JD.
JD. JD.
06:01
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Transaction in Own Shares

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Digested News

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

IGET logo
Latest RNS 15:44
IGET

Issue of Equity

Invesco Perpetual Select Trust plc - Global Equity Income Share Portfolio

WKP logo
Latest RNS 15:36
WKP

Holding(s) in Company

Workspace Group PLC

TR1 Buy
['Bank of America Corporation', '0.000000', '0.000000']
IHP logo
Latest RNS 15:14
IHP

Director/PDMR Shareholding

IntegraFin Holdings plc

1. <mark style="background-coloryellow">Purchase</mark> of Partnership Shares by the Trustee of the IntegraFin Share Incentive Plan 2018.
TIR logo
Latest RNS 14:49
TIR

Holding(s) in Company

Tiger Royalties and investments Plc

TR1 Buy
['Spreadex LTD', '7.020400', '5.140900']
BRIG logo
Latest RNS 14:29
BRIG

Portfolio Update

BlackRock Income and Growth Investment Trust plc

**SummaryBlackRock Income & Growth Investment Trust PLC Portfolio Update (February 24, 2026)**
BlackRock Income & Growth Investment Trust PLC released its unaudited portfolio update as of January 31, 2025, highlighting strong performance across various timeframes. The trust’s share price and net asset value (NAV) outperformed the FTSE All-Share Total Return Index over one, three, and five years, with gains of 19.2% and 13.7% (NAV) in the past year, respectively. Since BlackRock took over management in April 2012, the trust has delivered 183.8% (share price) and 186.6% (NAV) returns.
**Key Metrics (as of January 312025):**
**Net Asset Value (NAV)** 253.56p (capital only), 259.61p (cum income).
**Share Price** 230.00p, trading at an 11.4% discount to cum-income NAV.
**Total Assets** £54.7 million.
**Gearing:** 4.0%within the 0-20% range.
**Net Yield** 3.3%, including the 2025 final dividend of 5.00p per share.
**Ongoing Charges** Capped at 1.15%.
**Sector and Country Allocation**
The portfolio is heavily weighted towards UK equities (89.8%), with top sectors including Banks (13.0%), Pharmaceuticals & Biotechnology (8.7%), and Non-equity Investment Instruments (6.9%). Top holdings include AstraZeneca (7.6%), Standard Chartered (4.5%), and Lloyds Banking Group (4.5%).
**Performance Drivers**
**Positive Contributors** Holdings in Ashmore, Great Portland Estates, and Oxford Instruments boosted performance, driven by strong inflows, leasing updates, and trading performance.
**Negative Contributors** Overweight positions in RELX (AI disruption concerns) and ICG (valuation headwinds), as well as the absence of Glencore (merger speculation and strong production results), detracted from returns.
**Portfolio Changes**
**New Positions** Cranswick (UK food producer) and Eaton (US industrial electrification equipment provider) were added for their growth potential.
**Sales/Trims** Compass was sold due to low yield, and BAE Systems was trimmed in favor of Babcock.
**Market Outlook**
The trust anticipates continued volatility driven by geopolitical uncertainty, interest rate expectations, and thematic trends in AI, defense, and financials. Despite challenges, opportunities are emerging in undervalued UK equities, resilient growth stories, and turnaround cases. BlackRock remains focused on cash-generative businesses with competitive advantages to deliver long-term returns.
**Conclusion**
BlackRock Income & Growth Investment Trust PLC demonstrated robust performance, strategic portfolio adjustments, and a cautious yet opportunistic outlook, positioning itself to navigate market volatility and capitalize on emerging opportunities.
Below is the HTML table code comparing the financials and debt (gearing) year-on-year based on the provided text. Since the text only provides data for a single year (as of January 2025), I’ve structured the table to reflect the available information and left the previous year’s column empty for clarity.
MetricAs of January 2024 (Not Available)As of January 2025
Net Asset Value (Capital Only)253.56p
Net Asset Value (Cum Income)259.61p
Share Price230.00p
Total Assets (Including Income)£54.7m
Discount to Cum-Income NAV11.4%
Gearing4.0%
Net Yield3.3%
Ordinary Shares in Issue18,753,794
Gearing Range (as a % of Net Assets)0-20%
Ongoing Charges1.15%
### Notes: 1. **Year-on-Year Comparison**: Since the text only provides data for January 2025, the table includes a placeholder for January 2024 data, which is not available. 2. **Metrics**: The table includes key financials such as Net Asset Value, Share Price, Total Assets, Gearing, and Ongoing Charges. 3. **Gearing**: Gearing is the only debt-related metric provided in the text, reflecting the level of borrowing relative to net assets. If historical data becomes available, the table can be updated accordingly.
IPF logo
Latest RNS 14:26
IPF

Form 8.3

International Personal Finance PLC

ADF logo
Latest RNS 14:00
ADF

Director Dealing

Facilities By ADF PLC

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
ATR logo
Latest RNS 13:52
ATR

Director Declaration

Schroders Investment Trusts - Schroder Asian Total Return Investment Company plc

AHT logo
Latest RNS 13:19
AHT

Court Approval Of The Scheme Of Arrangement

Ashtead Group PLC

**Summary**
Ashtead Group PLC announced on February 24, 2026, that the Court has approved the Scheme of Arrangement, a plan to establish Sunbelt Rentals Holdings, Inc., a new Delaware corporation, as the holding company of the Ashtead group. This move is part of the companys proposed new U.S. primary listing. The Scheme, initially proposed in February 2025 and approved by shareholders in June 2025, is conditional on the Court Order being delivered to the Registrar of Companies by February 27, 2026.
Key upcoming events include
Publication of the U.K. Prospectus on February 25, 2026.
Last day of dealings in Ashtead shares on February 27, 2026.
Scheme Effective Time at 1000 p.m. UK time on February 27, 2026.
De-listing of Ashtead shares and listing of Sunbelt Rentals shares on March 2, 2026, on both the London and New York stock exchanges.
Dispatch of statements of entitlement and DRS advice, as well as any cash due to shareholders, within 14 days after the New York Listing Effective Time.
The company will provide updates if any key dates change and will make a further announcement once the Scheme becomes effective. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are provided for enquiries.
Approvals
IPF logo
Latest RNS 12:36
IPF

Form 8.3

International Personal Finance PLC

BME logo
Latest RNS 12:01
BME

Director/PDMR Shareholding

B&M European Value Retail SA

<mark style="background-coloryellow">Purchase</mark> of ordinary shares
EMVC logo
Latest RNS 11:39
EMVC

TR-1

EMV Capital plc

TR1 Buy
FERG logo
Latest RNS 10:46
FERG

Ferguson Reports Strong Calendar 2025 Results and Issues 2026 Guidance

Ferguson Plc

**Summary of Ferguson Enterprises Inc.s 2025 Financial Results and 2026 Guidance**
Ferguson Enterprises Inc. reported strong financial results for the calendar year 2025, highlighting robust growth, improved margins, and strategic investments. Key highlights include
**Revenue Growth**Sales increased by 5.0% to $31.3 billion, driven by organic growth of 4.5% and acquisition growth of 1.0%.
**Margin Expansion**Gross margin improved to 31.0%, up 70 basis points, while operating margin rose to 8.9%, up 40 basis points. Adjusted operating margin was 9.6%, up 50 basis points.
**Earnings Growth**Diluted earnings per share (EPS) increased by 24.2% to $10.16, with adjusted EPS up 13.4% to $10.58.
**Cash Generation**Operating cash flow was strong at $2.2 billion.
**Dividends and Share Repurchases**Declared dividends of $3.38 per share and repurchased $0.9 billion in shares, with $0.6 billion remaining under the current repurchase program.
**Acquisitions**Invested $276 million in eight acquisitions, adding annualized revenue of over $300 million.
**Balance Sheet Strength**Net debt to adjusted EBITDA ratio remained healthy at 1.1x.
**2026 Guidance**
**Net Sales**Low to mid-single digit growth.
**Adjusted Operating Margin**9.4% to 9.8%.
**Interest Expense**Approximately $200 million.
**Capital Expenditures**$350 to $400 million.
**Adjusted Effective Tax Rate**Around 26%.
**Strategic Focus**
Ferguson continues to focus on organic growth, strategic acquisitions, and returning capital to shareholders. The company is well-positioned to capitalize on long-term growth drivers in both residential and non-residential markets, particularly in water infrastructure, large capital projects, and climate & comfort solutions.
**Leadership Changes**
Brian Lantz, Vice President of Investor Relations and Communications, will retire on May 1, 2026. Pete Kennedy has been promoted to Vice President of Investor Relations, and Christine Dwyer to Vice President of Communications and Public Relations.
**Conclusion**
Ferguson delivered a strong performance in 2025, with continued market share gains and operational efficiency. The company remains optimistic about its growth prospects in 2026, supported by its scale-advantaged business model and strategic investments.
Here’s an HTML table comparing the year-on-year financials and debt for Ferguson Enterprises Inc. based on the provided text:
Metric2024 (in millions)2025 (in millions)Change
Net Sales$29,818$31,316+5.0%
Gross Margin30.3%31.0%+70 bps
Operating Profit$2,528$2,789+10.3%
Operating Margin8.5%8.9%+40 bps
Diluted Earnings per Share$8.18$10.16+24.2%
Adjusted EBITDA$2,905$3,243+11.6%
Net Debt: Adjusted EBITDA1.2x1.1x-0.1x
Capital Expenditures$328$354+7.9%
Dividends Paid$637$656+3.0%
Share Repurchases$893$902+1.0%
### Key Highlights: - **Net Sales**: Increased by 5.0% from $29.8 billion in 2024 to $31.3 billion in 2025. - **Gross Margin**: Improved by 70 basis points from 30.3% to 31.0%. - **Operating Profit**: Rose by 10.3% from $2.5 billion to $2.8 billion. - **Diluted Earnings per Share**: Surged by 24.2% from $8.18 to $10.16. - **Net Debt to Adjusted EBITDA**: Improved from 1.2x to 1.1x, indicating a stronger balance sheet. - **Capital Expenditures**: Increased by 7.9% from $328 million to $354 million. - **Dividends and Share Repurchases**: Both increased slightly, reflecting continued shareholder returns. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025 for Ferguson Enterprises Inc.
FDR logo
Latest RNS 10:11
FDR

Holding(s) in Company

First Development Resources Plc

TR1 Buy
['First Equity Limited', '4.849390', '3.448455']
CGEO logo
Latest RNS 06:11
CGEO

Commencement of US$ 50 million buyback programme

Georgia Capital PLC

**Summary**
Georgia Capital PLC announced the commencement of a US$ 50 million share buyback and cancellation programme on February 24, 2026. The programme, approved by the board of directors, will run for nine months, with shares purchased on the open market and treasury shares cancelled monthly. The primary goal is to reduce share capital, with the maximum price per share not exceeding the la<mark style="background-color:yellow">test</mark> reported NAV per share. The programme is authorized to repurchase up to 3,150,275 shares, as approved by shareholders at the 2025 AGM, and complies with FCA Listing Rules and EU Market Abuse Regulations. Numis Securities Limited has been appointed to manage the irrevocable, non-discretionary buyback programme. Further announcements will be made following share repurchases. Georgia Capital focuses on investing in and developing businesses in Georgia, with holdings in retail, insurance, healthcare, and a significant stake in Lion Finance Group PLC. The company holds a BB- credit rating from S&P Global.
BuyBack
MCB logo
Latest RNS 06:06
MCB

Interim results for 6M ended 31 December 2025

McBride plc

**Summary of McBride PLC Interim Results for 6M Ended 31 December 2025**
**Financial Performance**
**Revenue**£475.2 million, up 0.8% year-on-year (down 2.1% on a constant currency basis), driven by volume growth in private label and contract manufacturing.
**Adjusted Operating Profit**£31.5 million, slightly down from £32.0 million in 2024, with margins maintained at 6.6%.
**Adjusted EBITDA**£41.8 million, stable at 8.8% of revenue, reflecting operational efficiency and cost control.
**Profit Before Taxation**£23.0 million, down from £25.7 million in 2024, impacted by exceptional items.
**Adjusted Basic EPS**10.8p, down from 11.9p in 2024, due to one-off tax effects in the prior year.
**Net Debt**£120.6 million, up slightly from £117.6 million, despite £12.9 million in shareholder returns (dividends, share buybacks, and Employee Benefit Trust purchases).
**Operational Highlights**
**Volume Growth**Overall volumes up 0.4%, with private label volumes increasing by 0.9% and contract manufacturing volumes by 1.4%.
**SAP S/4HANA Implementation**Successful launch of Wave 1 in the UK, with the next wave expected across European sites in the next financial year.
**Transformation Agenda**On track to deliver £50 million in net benefits over five years, with cumulative benefits of £8.7 million as of 31 December 2025.
**Sustainability**Progress on decarbonization, renewable energy adoption, and employee training in climate literacy.
**Strategic Initiatives**
**Shareholder Returns**Reinstated dividends, share buyback program, and EBT purchases to reduce equity dilution.
**Customer Partnerships**Strengthened relationships and secured a healthy pipeline of new contracts for the second half of the year.
**Operational Efficiency**Focus on automation, cost optimization, and productivity improvements across manufacturing sites.
**Outlook**
**Second Half Expectations**In line with expectations, with good momentum driven by new contract wins and market share growth in private label.
**Market Conditions**Private label market share continues to grow, with material costs expected to remain flat and overhead costs under control.
**Full-Year Guidance**On track to meet analysts expectations for adjusted operating profit of £64.7 million.
**Divisional Performance**
**Liquids**Revenue stable at £269.0 million, with adjusted operating profit of £17.7 million (margin 6.6%).
**Unit Dosing**Revenue down 2.0% to £115.7 million, but adjusted operating profit improved to £12.5 million (margin 10.8%).
**Powders**Revenue up 2.0% to £44.9 million, with adjusted operating profit of £3.0 million (margin 6.7%).
**Aerosols**Revenue up 18.1% to £33.9 million, with adjusted operating profit of £2.1 million (margin 6.2%).
**Asia Pacific**Revenue stable at £11.7 million, with adjusted operating profit of £0.5 million (margin 4.3%).
**Conclusion**
McBride PLC delivered a solid first-half performance, maintaining profitability and operational efficiency despite inflationary pressures. The company remains focused on strategic growth, shareholder returns, and sustainability, with a positive outlook for the remainder of the financial year and beyond.
Here is the comparison of financials and debt year on year presented as an HTML table:
Metric2025 (£m)2024 (£m)Change (£m)Change (%)
Revenue475.2471.43.80.8%
Adjusted Operating Profit31.532.0(0.5)(1.6%)
Operating Profit28.331.0(2.7)(8.7%)
Adjusted EBITDA41.841.70.10.2%
Adjusted Profit Before Taxation26.226.7(0.5)(1.9%)
Profit Before Taxation23.025.7(2.7)(10.5%)
Net Debt120.6117.63.02.6%
**Key Observations:** 1. **Revenue Growth:** Revenue increased slightly by 0.8% from £471.4m in 2024 to £475.2m in 2025. 2. **Profitability:** Adjusted operating profit decreased marginally by 1.6%, while operating profit saw a more significant decline of 8.7%. 3. **EBITDA Stability:** Adjusted EBITDA remained relatively stable, increasing by only 0.2%. 4. **Net Debt Increase:** Net debt increased by £3.0m (2.6%) from £117.6m in 2024 to £120.6m in 2025. This table provides a concise comparison of key financial metrics and debt levels between 2024 and 2025.
OXB logo
Latest RNS 06:04
OXB

Full year Trading Update and Notice of Results

Oxford BioMedica PLC

**Summary**
Oxford Biomedica PLC (OXB) released a full-year trading update for 2025, highlighting strong financial performance and strategic progress. Key points include
1. **Revenue Growth**FY 2025 revenues are expected to reach £166-169 million, a 30% increase from 2024 and nearly 90% growth since 2023, driven by sustained demand for viral vector services and operational efficiency.
2. **EBITDA Profitability**OXB achieved EBITDA profitability in 2025, with mid-to-high single-digit £ million Operating EBITDA, including a non-recurring gain from the Durham, NC acquisition. Underlying EBITDA (excluding the acquisition) is in line with guidance at low single-digit £ million.
3. **Contracted Orders**The contracted value of client orders increased by 20% to £224 million, reflecting strong demand from existing and new clients.
4. **Financial Position**OXB strengthened its balance sheet with a £60 million equity raise and a new $125 million loan facility, supporting capacity expansion and growth initiatives.
5. **Future Outlook**The company reiterated its guidance, expecting FY 2026 revenues of £220-240 million, with 25-30% annual growth in 2027 and 2028. EBITDA margins are projected to exceed 10% in 2026 and reach at least 20% in 2027, with long-term potential to approach 30%.
6. **Preliminary Results**OXB will announce its preliminary results for 2025 on March 26, 2026, with a virtual analyst briefing led by CEO Dr. Frank Mathias.
The update underscores OXBs successful execution of its CDMO strategy, strong commercial momentum, and optimism for continued growth and profitability in the coming years.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
MetricFY 2024FY 2025 (Expected)Change
Revenues (£ million)128.8166-169 (168-171 CC)~30% increase
Operating EBITDA (£ million)(15.3) lossMid-to-high single-digit (CC)Pivot to profitability
Underlying Operating EBITDA (£ million)N/ALow single-digit (CC)N/A
Contracted Value of Client Orders (£ million)18622420% increase
Revenue Backlog (£ million)~150~204~36% increase
Gross Cash Position (£ million)N/A96.9N/A
Net Cash Position (£ million)N/A55.4N/A
Debt (Loan Facility Drawn, $ million)N/A60 (of which $50 million used to repay existing facility)N/A
### Key Notes: 1. **Revenues**: FY 2025 revenues are expected to increase by ~30% compared to FY 2024. 2. **Operating EBITDA**: FY 2025 is expected to pivot to mid-to-high single-digit profitability from a loss in FY 2024. 3. **Contracted Value of Client Orders**: Increased by 20% year-on-year. 4. **Revenue Backlog**: Increased by ~36% year-on-year. 5. **Cash Position**: FY 2025 shows a strengthened balance sheet with gross cash of £96.9 million and net cash of £55.4 million. 6. **Debt**: A new loan facility of $125 million was entered, with $60 million drawn, $50 million of which was used to repay existing debt. This table provides a clear year-on-year comparison of key financials and debt metrics.
UTG logo
Latest RNS 06:01
UTG

Results for the year ended 31 December 2025

Unite Group PLC

Unite Group PLC, a leading provider of student accommodation in the UK, reported its final results for the year ended December 31, 2025. The company demonstrated resilience in a challenging market, with strong trading across most of its portfolio, despite weaker demand in some cities. Key highlights include
**Financial Performance**Adjusted earnings increased by 9% to £232.3 million, and adjusted EPS grew by 2% to 47.5p. However, IFRS profit attributable to owners decreased by 78% to £97.6 million due to a valuation decrease in the property portfolio.
**Operational Metrics**Achieved 4.0% rental growth and 95.2% occupancy for the 2025/26 academic year, with 19 out of 22 cities averaging 97% occupancy.
**Strategic Progress**Increased alignment to high-tariff universities to 67%, with a target of 80%. Completed the acquisition of Empirics 7,700-bed portfolio, enhancing the offer to returning students.
**Capital Allocation**Commenced a £100 million share buyback program and disposed of St Pancras Way to USAF for £186 million, demonstrating disciplined capital management.
**Market Trends**Strong demand for higher education in the UK, with a 5% increase in 18-year-old applicants for 2026/27. New PBSA supply remains constrained, and the HMO sector is in decline.
**Future Outlook**Guidance for 2026/27 includes 2-3% rental growth and 93-96% occupancy, with adjusted EPS expected to be 41.5-43.0p, reflecting lower Empiric income and occupancy.
Unite Group is focused on operational excellence, optimal capital allocation, and strengthening university partnerships to drive long-term growth and shareholder value.
Here is the HTML table code comparing the financials and debt year on year for Unite Group PLC:
Metric20252024Change
Adjusted earnings (£m)232.3213.89%
Adjusted EPS (p)47.546.62%
IFRS profit attributable to owners (£m)97.6441.9(78%)
IFRS EPS (diluted) (p)19.996.1(79%)
Dividend per share (p)37.737.31%
EPRA NTA per share (p)955972(2%)
IFRS net assets per share (p)966982(2%)
Net debt: EBITDA6.0x5.5x0.5x
Loan to value27%24%+3ppts
**Notes:** * The table includes key financial metrics such as adjusted earnings, EPS, IFRS profit, dividends, NTA per share, and debt ratios. * The "Change" column shows the percentage change or difference between 2025 and 2024 values. * The table is based on the provided text, which contains Unite Group PLC's financial results for the year ended 31 December 2025, compared to the previous year.
ACRM logo
Latest RNS 06:01
ACRM

Contract win

Acuity RM Group Plc

**Summary**
Acuity RM Group PLC, a cybersecurity software provider specializing in the defense sector, announced a contract win to supply services to Sopra Steria, which serves the British government. The contract, valued at £75,000, involves enhancing the Classic STREAM software platform with automations and additional functionality for a highly sensitive cybersecurity program. This upsell builds on a three-year relationship that has already generated over £250,000 in revenue.
The partnership holds strategic significance, as Sopra Steria plans to develop a product based on Classic STREAM to help government and defense clients meet Secure by Design (SbD) cybersecurity requirements. Acuity’s CEO, David Rajakovich, highlighted the potential for material value creation and expressed pride in continuing to serve the UK government’s security needs. While no formal agreement has been finalized, discussions are ongoing, and Acuity anticipates providing further updates. This non-regulatory announcement underscores Acuity’s focus on sustainable growth through organic expansion and strategic partnerships.
NewContract
ZEG logo
Latest RNS 06:01
ZEG

Holding(s) in Company

Zegona Communications Plc

TR1 Buy
['Thornburg Investment Management, Inc.', '14.950000', '15.000000']
GWMO logo
Latest RNS 06:01
GWMO

Holding(s) in Company

Great Western Mining Corp Plc

TR1 Buy
['Cantor Fitzgerald Europe', '8.350000', '16.680000']
ESYS logo
Latest RNS 06:01
ESYS

Recommended Cash Offer

Essensys PLC

**Summary**
Essensys PLC, a provider of software and technology for flexible workspace operators, has received a recommended cash offer from Essensys Bidco Limited ("Bidco"), a newly incorporated company backed by Mark Furness and members of the Concert Party. The offer values Essensys at approximately £11.3 million, with a cash offer of 17 pence per share, representing a premium of 9.7% to the closing price on November 27, 2025.
**Key Points**
**Offer Details** The offer is subject to various conditions, including the acceptance of 90% of Essensys shares. Shareholders can choose between the cash offer or an alternative offer of one New Bidco Share for each Essensys share, which does not carry voting rights.
**Rationale** The offer aims to provide Essensys shareholders with certainty and value, while allowing the company to operate in a private setting, free from short-term public market pressures. This is expected to enable Essensys to focus on long-term strategic goals, customer needs, and product innovation.
**Concert Party** The Concert Party, including Mark Furness, William Currie, Terry Leahy, and others, currently holds 36.55% of Essensys shares. They believe private ownership will benefit Essensys by reducing financial and administrative burdens and improving access to capital.
**Recommendation** The Essensys Independent Directors recommend shareholders accept the cash offer, considering it fair and reasonable. They believe the offer provides a certain exit opportunity and facilitates strategic and operational benefits for stakeholders.
**Financing** The cash offer will be funded through a £10 million secured term loan facility.
**Next Steps** The offer is expected to become unconditional in the second quarter of 2026, after which Essensys will be re-registered as a private limited company and delisted from AIM.
This summary highlights the key aspects of the recommended cash offer for Essensys PLC, emphasizing the offer details, rationale, key players, and expected outcomes.
CashOffer
INV logo
Latest RNS 06:01
INV

Proposals for the future of the Company

The Investment Company plc

**Summary**
**Investment Company PLC** announced proposals for its future on February 24, 2026, following a review initiated in December 2025. The key elements of the proposals include
1. **Appointment of a New Portfolio Manager**: Dowgate Wealth Limited will replace Chelverton Asset Management Ltd (CAM) as the portfolio manager, subject to shareholder and regulatory approvals. Dowgate, a boutique wealth manager with £2 billion in assets under management, will lead the Companys portfolio under Jeremy McKeown, supported by their investment team.
2. **New Investment Policy**The Company will adopt a strategy focused on protecting and growing shareholders real purchasing power through a diversified portfolio of scarce, economically resilient assets. This includes foundational reserves, strategic equity participations, and inflation-protected instruments.
3. **Tender Offer**Existing shareholders will have the option to exit their investment at a 5% discount to the net asset value, providing liquidity for those who prefer not to remain invested under the new strategy.
4. **Capital Raise**The Company plans to raise new capital through a placing, offer for subscription, or a matched bargain facility to ensure sufficient scale for the new strategy.
5. **Conditions and Approvals**Implementation of the proposals is contingent on shareholder, regulatory, and court approvals, as well as successful capital raising. A circular with further details will be published, and the process is expected to complete in the second quarter of 2026.
The Board, led by Chairman Ian Dighe, expressed confidence in the proposals, emphasizing the Companys long heritage since 1868 and the need for a modern strategy. Dowgates Ben McKeown highlighted their expertise and commitment to revitalizing the Company for future growth. The proposals are inter-conditional, meaning they will only proceed if implemented in full.
Proposals
BRK logo
Latest RNS 06:01
BRK

Half-year Financial Report

Brooks Macdonald Group

**Summary of Brooks Macdonald Group PLCs Half-Year Financial Report (H1 2026)**
Brooks Macdonald Group PLC reported its half-year results for the six months ending 31 December 2025, highlighting strong momentum and strategic progress. Key financial and operational highlights include
### **Financial Highlights**
**Total Funds Under Management and Advice (FUMA):** Increased by 5% to £20.1 billion, driven by market and investment performance.
**Net Inflows** Positive net inflows of £2 million, the first half-year of positive flows since H2 2023.
**Revenue** Grew by 12% to £58.2 million, supported by higher financial planning and fee income.
**Underlying Profit Before Tax (PBT)** £13.6 million, with a margin of 23.4%.
**Statutory PBT:** £6.2 millionreflecting higher organic investmentM&Aand integration costs.
**Interim Dividend** Recommended at 31.0 pence per share, up 3%.
### **Strategic and Operational Highlights**
**Reignite Growth Strategy** Progress across all three strategic priorities, including investments in digital capability, AI, and product innovation.
**Brooks Financial Integration** Completed integration, achieving £1 million in annualised cost synergies and 98% client retention.
**Client Experience Enhancements** Launched a mobile app and improved onboarding through digitisation.
**AI Deployment** Reduced administrative burden, freeing capacity for client service.
**Efficiency Gains** Delivered £3 million in annualised savings through organisational restructuring.
**Investment Performance** Strong performance in Managed Portfolio Service (MPS) and Bespoke Portfolio Service (BPS), with Defaqto Gold award for Discretionary Fund Management Service.
### **Outlook**
Expects H1 revenue trends to continue into H2, with costs remaining broadly in line.
Full-year 2026 performance expected to align with market expectations.
Confident in delivering medium-term targets of +5% annualised net flows and <5% BAU cost growth.
### **Key Metrics**
**Revenue** £58.2 million (+12% YoY).
**Underlying Operating Expenses** £45.4 million (+20% YoY, including acquisitions).
**Underlying PBT** £13.6 million (-12% YoY).
**Statutory PBT** £6.2 million (-51% YoY).
**Interim Dividend** 31.0 pence per share (+3% YoY).
### **Conclusion**
Brooks Macdonald demonstrated resilience and growth in H1 2026, with positive net flows, revenue growth, and strategic advancements. The company remains focused on its Reignite Growth strategy, leveraging technology and efficiency to drive sustainable growth and enhance client service.
Here is a comparison of the financials and debt year on year presented as an HTML table:
MetricH1 2026 (£ millions)H1 2025 (£ millions)Change
Total Funds Under Management and Advice (FUMA)20.119.15%
Net Inflows2-262N/A (from outflow to inflow)
Revenue58.251.912%
Underlying Operating Expenses45.437.820%
Underlying Profit Before Tax (PBT)13.615.5-12%
Statutory PBT6.212.6-51%
Interim Dividend per Share (pence)31.030.03%
Net Debt (Cash Resources and Liquid Assets)27.053.8-49%
**Notes:** * The table compares key financial metrics between H1 2026 and H1 2025. * Net Debt is represented by Cash Resources and Liquid Assets, as there is no explicit debt figure provided in the text. * The change in Net Inflows is marked as N/A since it's a shift from outflow to inflow. This table provides a concise overview of the year-on-year changes in Brooks Macdonald Group PLC's financials and debt position.
CTEC logo
Latest RNS 06:01
CTEC

Convatec FY25 Results

ConvaTec Group PLC

**Summary of Convatec FY25 Results**
Convatec Group PLC reported strong financial results for the year ended December 31, 2025, with key highlights including
1. **Revenue Growth**Reported revenue increased by 6.5% to $2,439 million, driven by broad-based organic growth across all categories, geographies, and products. Organic revenue growth excluding InnovaMatrix® was 6.4%.
2. **Margin Improvement**Adjusted operating margin expanded by 110 basis points to 22.3%, despite challenges like a $30 million reduction in InnovaMatrix® sales and incremental tariffs. This improvement was fueled by operational efficiencies, pricing strategies, and operational leverage.
3. **Earnings Growth**Adjusted diluted EPS grew by 16.0% to 17.6 cents, reflecting strong operational performance and margin expansion.
4. **Cash Generation**Free cash flow to equity was $362 million, supporting investments in growth, dividends, and share buybacks. The company returned $300 million to shareholders via share repurchases.
5. **Dividend Increase**The final dividend for 2025 was increased by 13% to 5.367 cents per share, bringing the full-year dividend to 7.244 cents per share.
6. **Strategic Investments**Convatec invested $185 million in capital expenditures, focusing on capacity expansion, new product development, and automation to meet rising demand.
7. **Product Innovations**Key product launches and innovations, such as ConvaFoamTM, Esteem BodyTM, and GentleCath AirTM, drove growth and market share gains across categories.
8. **Medium-Term Outlook**Convatec upgraded its medium-term organic revenue growth target to 6-8% from 2027, supported by a rich innovation pipeline and successful strategy implementation.
9. **Financial Position**The company secured investment-grade status, extended its financing maturity, and maintained a strong balance sheet with net debt of $1,330 million, equivalent to 2.0x adjusted EBITDA.
10. **Future Prospects**Convatec expects double-digit adjusted EPS growth in FY26, with organic revenue growth of 5-7% excluding InnovaMatrix®, and continued margin expansion to at least 23.0%.
Overall, Convatecs FY25 results demonstrate resilient growth, strategic execution, and a strong foundation for future performance, underpinned by innovation, operational excellence, and disciplined capital allocation.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY 2025FY 2024Change
Revenue$2,439m$2,289m6.5%
Operating Profit (Reported)$316m$325m(2.7%)
Operating Profit (Adjusted)$544m$485m12.1%
Operating Margin (Reported)13.0%14.2%(120 bps)
Operating Margin (Adjusted)22.3%21.2%110 bps
Diluted EPS (Reported)8.6 cents9.3 cents(7.1%)
Diluted EPS (Adjusted)17.6 cents15.2 cents16.0%
Free Cash Flow to Equity$362m$361m0.1%
Net Debt$1,330m$1,058m25.7%
Net Debt/Adjusted EBITDA2.0x1.8x11.1%
**Key Observations:** - **Revenue Growth:** Revenue increased by 6.5% from FY 2024 to FY 2025, driven by broad-based organic growth across categories, geographies, and products. - **Operating Profit:** Reported operating profit decreased slightly by 2.7%, while adjusted operating profit increased by 12.1%, reflecting strong underlying performance. - **Margins:** Adjusted operating margin improved by 110 basis points to 22.3%, despite challenges like the InnovaMatrix® CMS rate change. - **EPS Growth:** Adjusted diluted EPS grew by 16.0%, demonstrating strong earnings growth. - **Debt Increase:** Net debt increased by 25.7%, primarily due to increased borrowings, including the issuance of senior unsecured notes. The net debt to adjusted EBITDA ratio increased to 2.0x, still within the target range. This table provides a concise comparison of key financial metrics and debt levels between FY 2024 and FY 2025 for Convatec Group PLC.
UPR logo
Latest RNS 06:01
UPR

2025 Preliminary Results

Uniphar Group PLC

**Summary of Uniphar PLCs 2025 Preliminary Results:**
Uniphar PLC, an international healthcare services company, reported strong financial results for 2025, highlighting significant growth across key metrics. The company achieved
**Organic Gross Profit Growth** 8.9%, the fastest rate since its IPO, driven by strong performance in all divisions, particularly Pharma (15.5%) and Medtech (10.5%).
**Adjusted EPS Growth** 21%, reaching 24.8 cents, supported by lower finance costs and a €35 million share buyback program.
**Revenue Growth** 11.0% to €3.1 billion, with constant currency growth at 11.1%.
**EBITDA Growth** 6.0% to €130.9 million, with organic growth at 9.0%.
**Net Bank Debt** Increased to €171.1 million, with leverage at 1.6x.
**Dividend** Total dividend of €5.2 million, representing a 5.2% per share increase year-on-year.
**Strategic Highlights**
Completed a €35 million share buyback program, repurchasing 13.4 million shares.
Acquired TouchStore to enhance digital and technology offerings in the pharmacy sector.
Progressed key strategic investments, including a new high-tech distribution facility in Ireland, scheduled for phased operation in mid-2026.
Maintained strong ESG ratings, including MSCI AAA and CDP B for the fourth consecutive year.
**Outlook**
Uniphar expects continued strong organic Gross Profit growth in line with its medium-term guidance. The company remains on track to achieve its target of €200 million EBITDA by 2028, with at least 80% of growth expected to be organic.
**CEO Comment**
Ger Rabbette, CEO, expressed satisfaction with the results, highlighting the fastest organic Gross Profit growth since IPO and strong Adjusted EPS growth. He reaffirmed confidence in achieving the 2028 EBITDA target.
**Financial Summary**
**Gross Profit** Increased 7.0% to €457.7 million, with a margin of 14.9%.
**Operating Profit** Decreased 6.2% to €76.9 million due to exceptional items.
**Profit Before Tax (Excluding Exceptionals):** Grew 17.4% to €71.8 million.
**Free Cash Flow Conversion** 99.1%, supported by favorable working capital movements.
**Divisional Performance**
**Uniphar Pharma** 15.5% organic Gross Profit growth, driven by Global Sourcing and clinical trial supply.
**Uniphar Medtech** 10.5% organic Gross Profit growth, supported by geographic expansion and new supplier rollouts.
**Uniphar Supply Chain & Retail** 4.2% organic Gross Profit growth, with strong volume growth in Supply Chain.
**Balance Sheet and Liquidity**
Robust balance sheet with net bank debt of €171.1 million and leverage at 1.6x.
Extended revolving credit facility maturity to August 2029 and placed a new €150 million term loan.
**Sustainability**
Reduced Scope 1 and 2 emissions by 29.9% since 2019.
Continued progress on Science-Based Targets and strong ESG ratings.
**Analyst Presentation**
A conference call for analysts and investors was scheduled for February 24, 2026, with details available on the company’s website.
**Conclusion**
Uniphar PLC delivered a strong performance in 2025, with significant growth across key financial metrics and strategic advancements. The company remains well-positioned for future growth, supported by its diversified healthcare services portfolio and strategic investments.
Here is the HTML table code comparing the financials and debt year on year for Uniphar PLC:
Metric2025 (€'000)2024 (€'000)Change
Revenue3,074,7042,770,42911.0%
Gross Profit457,692427,6047.0%
EBITDA130,909123,4586.0%
Operating Profit76,87581,989(6.2%)
Profit before tax71,79561,13017.4%
Net bank debt(171,139)(147,676)(15.9%)
Basic EPS (cent)19.523.5(17.0%)
Adjusted EPS (cent)24.820.521.0%
Leverage (times)1.551.475.4%

Key Observations:

  • Revenue increased by 11.0% from 2024 to 2025, driven by strong volume growth across all divisions.
  • Gross Profit grew by 7.0%, with organic growth of 8.9%, the fastest rate since IPO.
  • EBITDA increased by 6.0%, with organic EBITDA growth of 9.0%.
  • Net bank debt increased by 15.9%, resulting in a higher leverage ratio of 1.55 times in 2025 compared to 1.47 times in 2024.
  • Adjusted EPS grew by 21.0%, reflecting strong business performance and the positive impact of lower finance costs and share buybacks.
This table provides a clear comparison of key financial metrics and debt between 2024 and 2025 for Uniphar PLC. The observations highlight the company's strong revenue and profit growth, as well as the increase in debt and leverage ratio.
CRDA logo
Latest RNS 06:01
CRDA

Results for the year ended 31 December 2025

Croda International PLC

**Summary of Croda International PLCs Final Results for the Year Ended 31 December 2025**
Croda International PLC, a leading specialty chemicals company, announced its final results for the year ended 31 December 2025, highlighting encouraging progress in delivering its growth and returns strategy despite an uncertain trading environment.
**Financial Highlights**
**Sales Growth** Group sales increased by 4.4% to £1,699.4 million, with a 6.6% growth at constant currency. Consumer Care and Life Sciences segments led the growth, with sales up 8% in both segments.
**Adjusted Operating Profit** Adjusted operating profit rose by 7.9% to £295.3 million at constant currency, driven by improved profitability in Consumer Care and Life Sciences.
**Adjusted Profit Before Tax** Adjusted profit before tax increased by 8.4% to £276.2 million, or £282.0 million at constant currency.
**Dividend** The full-year dividend was increased by 1p to 111p per share.
**Business Performance**
**Consumer Care** Sales grew by 8% at constant currency, with strong performance in Fragrances and Flavours (F&F), Beauty Actives, and Beauty Care.
**Life Sciences** Sales increased by 8% at constant currency, driven by growth in Crop Protection and Pharma.
**Industrial Specialties** Sales declined by 2% at constant currency due to lower sales volumes.
**Strategic Progress**
**Innovation** Croda refocused its innovation efforts, introducing a new rigorous framework and reallocating R&D resources to prioritize customer-centric innovation.
**Customer Experience** The company improved customer experience through tailored solutions, bespoke service packages, and regionalization of claims testing and formulation support.
**Transformation Program** Crodas transformation program delivered £28 million in gross benefits in 2025, with a target of £100 million in total annualized benefits by 2028.
**Financial Framework to 2028**
Croda set out a new financial framework to 2028, targeting
**Sales Growth** 3-6% organic sales growth CAGR
**Adjusted Operating Margin** >20% by 2028
**Free Cash Flow-to-Sales Ratio** >12% by 2028
**Return on Invested Capital (ROIC)** >10% by 2028
**2026 Outlook**
For 2026Croda expects
**Group Organic Sales Growth** Within the 3-6% range
**Adjusted Operating Margin** Further increase driven by improving profitability in Consumer Care and Life Sciences
**Adjusted Operating Profit** In line with current market expectations at constant currency
**Conclusion**
Croda International PLC demonstrated resilience and progress in 2025, delivering sales growth, improved profitability, and strategic advancements despite market challenges. The companys financial framework to 2028 and 2026 outlook reflect its confidence in achieving sustainable growth, enhanced profitability, and improved returns on capital.
Here is an HTML table comparing the financials and debt year on year for Croda International PLC based on the provided text:
Metric2025 (£m)2024 (£m)Change
Sales1,699.41,628.14.4%
EBITDA396.6378.35.0%
Operating Profit295.3279.75.6%
Profit Before Tax276.2260.06.2%
Free Cash Flow161.6169.6(4.7%)
Net Debt523.8532.3(1.6%)
**Key Observations:** * **Sales Growth:** Croda International PLC experienced a 4.4% increase in sales from 2024 to 2025, reaching £1,699.4 million. * **EBITDA and Operating Profit:** Both EBITDA and operating profit showed growth, with EBITDA increasing by 5.0% and operating profit by 5.6%. * **Profit Before Tax:** Profit before tax also increased by 6.2%, indicating improved profitability. * **Free Cash Flow:** Free cash flow decreased slightly by 4.7%, but remained positive at £161.6 million. * **Net Debt Reduction:** The company successfully reduced its net debt by 1.6%, from £532.3 million in 2024 to £523.8 million in 2025. This table provides a concise overview of Croda International PLC's financial performance and debt position, highlighting areas of growth and improvement.
TENG logo
Latest RNS 06:01
TENG

Ten wins Large contract with financial provider

Ten Lifestyle Group PLC

**Summary**
Ten Lifestyle Group plc (AIMTENG), a global concierge technology platform, has secured a new multi-year contract with a leading financial services provider in the AMEA region. The contract, categorized as "Large" (valued between £2m and £5m annually), involves launching a digitally enabled customer experience program for the providers High and Ultra Net Worth clients. Ten will establish a new in-market operating presence to support this initiative, enhancing service coverage and operational capability in a high-growth region. The transition from the incumbent provider is expected to begin in the second half of Tens financial year ending 31 August 2026, with full contract implementation anticipated in FY 2027. This win underscores Tens commitment to driving customer loyalty for global financial institutions and premium brands, leveraging its proprietary technology, supplier relationships, and 27 years of expertise. Ten remains dedicated to sustainability and ethical business practices as the first B Corp-certified company on the AIM market.
NewContract
CGEO logo
Latest RNS 06:01
CGEO

Final Results

Georgia Capital PLC

**Summary**
Georgia Capital PLC, a London-listed investment entity, reported strong financial results for the fourth quarter (4Q25) and full year (FY25) of 2025. Key highlights include
**Net Asset Value (NAV) Growth** NAV per share increased by 14.1% quarter-on-quarter (q-o-q) in 4Q25 and 61.2% year-on-year (y-o-y) in FY25, driven by portfolio value growth, share buybacks, and strong operating performance across private portfolio companies.
**Portfolio Performance** The total portfolio value reached GEL 5.1 billion in 4Q25, up 9.4% q-o-q. Listed portfolio value increased by 14.9% q-o-q, primarily due to Lion Finance Groups share price appreciation. Private portfolio value grew by 4.5% q-o-q, led by value creation, investments, and dividend payments.
**Private Portfolio Companies** Large private portfolio companies, including retail (pharmacy), insurance, and healthcare services, delivered outstanding operational results. Aggregated revenues and EBITDA increased by 11.8% and 17.8% y-o-y, respectively, in 4Q25.
**Lion Finance Group** Lion Finance Groups share price rose by 21.6% q-o-q in 4Q25 and 97.5% y-o-y in FY25, contributing significantly to the listed portfolios value creation.
**Share Buybacks** Georgia Capital completed a US$ 50 million share buyback and cancellation program in January 2026, repurchasing 1.5 million shares. A new US$ 50 million share buyback program was launched in February 2026.
**Net Capital Commitment (NCC) Ratio** The NCC ratio improved to a record low of 2.3% in 4Q25, reflecting strong cash generation and portfolio value growth.
**Financial Performance** Adjusted IFRS net income was GEL 598.9 million in 4Q25 and GEL 1,870.4 million in FY25. Gross operating income increased by 15.3% y-o-y in FY25, primarily due to dividend collections.
**Valuation** Independent valuation assessments were performed for retail (pharmacy), insurance, healthcare services, renewable energy, and education businesses, using income and market approaches.
**Outlook** Georgia Capital expects continued robust NAV per share growth, driven by Lion Finance Groups performance, private portfolio companies growth, deleveraging, and share buybacks.
**Key Financials (GEL 000unless otherwise noted):**
NAV per share: GEL 154.68 (4Q25)up 14.1% q-o-q and 61.2% y-o-y
Total portfolio value: GEL 5074885 (4Q25)up 9.4% q-o-q and 34.9% y-o-y
Adjusted IFRS net income: GEL 598877 (4Q25)up 37.5% y-o-y
GEL 1870441 (FY25)up NMF y-o-y
Dividend income: GEL 57692 (4Q25)up NMF y-o-y
GEL 225534 (FY25)up 11.8% y-o-y
**Key Ratios**
NCC ratio2.3% (4Q25), down 3.1 ppts q-o-q and 10.5 ppts y-o-y
Net debt to EBITDA leverage ratio (retail pharmacy): 1.3x (31-Dec-25)
Combined ratio (P&C insurance)90.9% (4Q25), up 1.0 ppt y-o-y
EBITDA margin (healthcare servicesexcl. IFRS 16): 19.7% (4Q25)up 0.4 ppts y-o-y
**Key Developments**
Completion of US$ 50 million share buyback program and launch of a new program
Strong performance across private portfolio companies, particularly in retail, insurance, and healthcare services
Continued growth and value creation from Lion Finance Group
Improved NCC ratio, reflecting strong cash generation and portfolio value growth
Successful social bond issuance by healthcare services business
**Outlook**
Georgia Capital expects to maintain its strong performance, driven by
Lion Finance Groups exceptional performance in Georgia and Armenia
Robust growth across private portfolio companies
Significant deleveraging at the holding level
Strong cash generation, enabling share buybacks and capital returns
The company remains well-positioned to capitalize on its portfolios growth potential and deliver attractive returns to shareholders.
Here is a comparison of the financials and debt year on year for Georgia Capital PLC, presented as an HTML table:
MetricDec-24Dec-25Change
NAV per share (GEL)95.95154.6861.2%
NAV per share (GBP)27.1442.4456.4%
Net Asset Value (NAV)3,609,0135,194,52743.9%
Cash, liquid funds and accrued dividends278,237239,801-13.8%
Gross debt(432,662)(139,128)-67.8%
Net debt(154,425)102,909NMF
NCC ratio12.8%2.3%-10.5 ppts
Total portfolio value3,761,4905,074,88534.9%
Net income350,3241,870,441NMF
**Notes:** * NMF = Not Meaningful (due to significant changes or non-comparable figures) * The table compares key financial metrics between December 2024 (Dec-24) and December 2025 (Dec-25) * Metrics include NAV per share, Net Asset Value, cash and debt positions, NCC ratio, total portfolio value, and net income * The "Change" column shows the percentage change between Dec-24 and Dec-25 * The table highlights significant improvements in NAV, portfolio value, and net income, as well as a substantial reduction in gross debt and NCC ratio
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Latest RNS 06:01
BGO

Director/PDMR Shareholding

Bango plc

PDMR Share <mark style="background-coloryellow">Purchase</mark>s via Employee Share Incentive Plan
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Market AI · 2026-02-24

LONDON MARKET CLOSE: Convatec stars as FTSE 100 ends little changed

FTSE 100 Stability: Held steady on Tuesday, closing nearly unchanged for the second consecutive day, despite concerns over AI disruption and tariffs. Market Sentiment: Investors appeared to regain balance after a w…

Market AI · 2026-02-24

LONDON MARKET MIDDAY: Europe mixed as banks hit FTSE 100

European Stock Markets Mixed: FTSE 100 down 0.1%, FTSE 250 up 0.2%, AIM all-share down 0.1%, CAC 40 up 0.2%, DAX 40 marginally lower. Market Sentiment Shaky: Driven by AI worries and Trump's global 10% tariff imple…

Market AI · 2026-02-24

LONDON BROKER RATINGS: Deutsche Bank cuts Rentokil; BofA lifts Mony

Here is the provided text formatted as bullet points in HTML: html 24th Feb 2026 09:59 The following London-listed shares received analyst recommendations Tuesday morning and on Monday: FTSE 100 Barclays cuts …

Market AI · 2026-02-24

LONDON MARKET OPEN: AI worries hit shares; tariffs come into effect

European Stock Markets: Opened lower on Tuesday due to tariff uncertainty and AI-related concerns from New York. FTSE 100 down 0.2%, FTSE 250 down 0.2%, and CAC 40/DAX 40 each down 0.2%. US Tariffs: New 10% tariffs…

Market AI · 2026-02-24

LONDON MARKET EARLY CALL: FTSE 100 to slip after Wall Street slump

London Stocks: Set to open lower on Tuesday, with FTSE 100 futures indicating a 0.1% decline to 10,673.34, amid ongoing tariff uncertainty. Currency Movements: Pound slightly down to USD1.3490 from USD…

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MarketALL-MARKETS
AI Net0
Short pressure lensShort data matters most when it conflicts with fresh catalysts — high short interest plus a positive RNS is a squeeze candidate. Low short interest plus bad news has less bounce risk.
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Short Data
Holder positions · % float shorted · borrow cost · squeeze candidates
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Volatility Lab

GANA

Movers0
News427
Up0
Execution lensATR defines stop width. Use it to judge whether today's RNS triggered a clean breakout or noise within the daily range.
Volume confirmsVolume expansion on catalyst day is the key signal — high volume on break through resistance confirms the move; low volume warns of fade.
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Volatility Lab
ATR · realized range · volume profile · reaction zones · breakout confirmation
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Ask AI
Chart context · RNS news · support/resistance · MACD · catalyst risk — all live
Target path News risk Invalidation Capital flow