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All Market News Today All digested RNS titles 470
IEM logo
All News 16:12
IEM

Holding(s) in Company

Impax Environmental Markets PLC

TR1 Buy
['Bank of America Corporation', '0.000000', '0.000000']
FCM logo
All News 15:53
FCM

Holding(s) in Company

First Class Metals PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Anthony Charles Harris', 'reached', 'Position of previous']
TIR logo
All News 15:31
TIR

Holding(s) in Company

Tiger Royalties and investments Plc

TR1 Buy
['Spreadex LTD', '7.020400', '5.140900']
SST logo
All News 15:28
SST

Holding(s) in Company

The Scottish Oriental Smaller Companies Trust plc

TR1 Buy
['City of London Investment Management Company Limited', '16.004000', '15.004000']
BGUK logo
All News 15:09
BGUK

Holding(s) in Company

Baillie Gifford UK Growth Fund PLC

TR1 Buy
['City of London Investment Management Company Limited', '16.010000', '15.010000']
AHT logo
All News 14:35
AHT

U.S. Listing Update - Approval and Publication of UK Prospectus and Details of Anticipated New York and London Listings

Ashtead Group PLC

**Summary**
Sunbelt Rentals Holdings, Inc., a subsidiary of Ashtead Group plc, announced on February 25, 2026, that its prospectus for a proposed secondary listing in London has been approved by the U.K. Financial Conduct Authority (FCA). The company also received authorization from the New York Stock Exchange (NYSE) for its listing application, contingent on the effectiveness of its Form 10 registration statement and meeting standard listing requirements. The Form 10 will become effective on February 26, 2026, with trading expected to begin on March 2, 2026, on both the London Stock Exchange (LSE) and NYSE under the ticker symbol "SUNB." Shares will trade in U.S. Dollars on the NYSE and in pound sterling (via depositary interests) on the LSE. The prospectus will be available on Ashtead Groups website and, from March 2, on Sunbelt Rentals investor relations site, as well as through the National Storage Mechanism. This announcement does not constitute an offer to sell or buy securities, and further updates will be provided as needed. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are included.
Approvals
IPF logo
All News 14:30
IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['HSBC Holdings plc', '9.994000', '10.006000']
IPF logo
All News 14:26
IPF

Form 8.3

International Personal Finance PLC

IPF logo
All News 13:02
IPF

Form 8.3

International Personal Finance PLC

USA logo
All News 08:34
USA

Holding(s) in Company

Baillie Gifford US Growth Trust PLC

TR1 Buy
['Bank of America Corporation', '3.119707', '2.517370']
BGEU logo
All News 08:32
BGEU

Holding(s) in Company

Baillie Gifford European Growth Trust PLC

TR1 Buy
['Allspring Global Investments Holdings.', '22.010000', '21.031000']
IGN logo
All News 06:35
IGN

Integrated Annual Report 2025: record strategic progress with +0.7 GW of new green capacities installed, completed mass smart meter roll-out, and Adjusted EBITDA beat

AB Ignitis grupe

**Summary of AB "Ignitis grupė" Integrated Annual Report 2025**
AB "Ignitis grupė" reported strong strategic and financial progress in its 2025 Integrated Annual Report, highlighting record achievements across key areas
1. **Financial Performance**
**Adjusted EBITDA** reached €546.1 million (+3.4% YoY), surpassing the upper end of the guidance range (€510–540 million), driven by robust performance in Green Capacities and Networks segments.
**Investments** totaled €720.3 million (-11.3% YoY), within guidance, with 53.1% allocated to Networks and 39.7% to Green Capacities, focusing on solar, onshore wind, and Kruonis PSHP expansion projects.
**Net Debt** increased to €1,912.0 million (+18.6% YoY) due to continued investments, while **FFO/Net Debt** decreased to 21.0% (from 29.7% in 2024) due to temporary regulatory differences. S&P Global Ratings reaffirmed the ‘BBB+’ credit rating with a stable outlook.
2. **Business Development**
**Green Capacities**Installed capacity grew to 2.1 GW (+0.7 GW), with key projects reaching COD, including Kelmė WF (313.7 MW) in Lithuania and Silesia WF II (136.8 MW) in Poland. Final Investment Decisions were made for three BESS projects in Lithuania.
**Networks**Completed a mass smart meter roll-out with 1.3 million installations. A 10-year (€3.5 billion) Investment Plan was aligned with the regulator (NERC).
**Reserve Capacities**Won Polish capacity mechanism auctions for 381 MW (Q1 2026), 484 MW (Q4 2026), and 148 MW (2030).
**Customers & Solutions**Signed a 7-year PPA with Litgrid at €74.5/MWh for up to 160 GWh/year and expanded EV charging infrastructure with 1,799 charging points (+708 YoY).
3. **Sustainability**
**Green Share of Generation** decreased to 70.2% (-11.3 pp YoY) due to higher electricity generation at Elektrėnai Complex.
**GHG Emissions** rose to 4.49 million t CO2-eq (+10.1% YoY), with Scope 1 emissions increasing by 54.7% YoY due to Elektrėnai Complex operations.
**Carbon Intensity** increased to 248 g CO2-eq/kWh (+24.5% YoY) due to intensified natural gas usage.
Recognized for leadership in corporate transparency and climate action, securing a place on CDP’s Climate A List (top 4% of companies).
4. **Shareholder Returns and 2026 Outlook**
Proposed dividend of €1.366 per share (+3.0% YoY), totaling €98.9 million, representing a 6.2–6.4% yield.
**2026 Guidance**Adjusted EBITDA of €550–600 million and Investments of €590–690 million.
5. **Key Financial Indicators**
Adjusted EBITDA Margin decreased to 21.3% (-1.6 pp YoY).
Net Debt/Adjusted EBITDA increased to 3.50 times (+14.8% YoY).
EPS declined to €2.26 (-40.8% YoY)while DPS rose to €1.37 (+3.0% YoY).
6. **Earnings Call**Scheduled for February 25, 2026, at 1:00 pm Vilnius time, with registration and materials available online.
Overall, 2025 marked significant progress in green energy expansion, network modernization, and strategic investments, despite sustainability and financial metric challenges.
Below is the HTML table code comparing the key financial and debt metrics year-on-year for AB "Ignitis grupė" based on the provided text:
Metric2025 (EUR, millions)2024 (EUR, millions)Change
Adjusted EBITDA546.1527.93.4%
Investments720.3812.0-11.3%
Net Debt1,912.01,612.318.6%
FFO400.9478.6-16.2%
FFO/Net Debt21.0%29.7%-8.7 pp
Net Debt/Adjusted EBITDA3.503.0514.8%
Dividend per Share (DPS)1.371.333.0%
Net Profit163.9276.2-40.7%
EPS2.263.82-40.8%
### Explanation: - **Adjusted EBITDA**: Increased by 3.4% YoY, driven by stronger performance in Green Capacities and Networks segments. - **Investments**: Decreased by 11.3% YoY due to several projects reaching COD. - **Net Debt**: Increased by 18.6% YoY due to significant investments in Networks and Green Capacities. - **FFO**: Decreased by 16.2% YoY, leading to a decline in FFO/Net Debt ratio. - **Dividend per Share (DPS)**: Increased by 3.0% YoY, in line with the Dividend Policy. - **Net Profit and EPS**: Both decreased significantly YoY, reflecting lower operating profit and adjusted net profit. This table provides a concise comparison of key financial and debt metrics for 2025 and 2024.
GLB logo
All News 06:31
GLB

Glanbia launches share buyback

Glanbia plc

**Summary**
Glanbia plc, the Better Nutrition company, announced on February 25, 2026, the launch of a share buyback program valued up to €50 million. The program aims to reduce the companys share capital by repurchasing and canceling ordinary shares. It will run from February 25, 2026, to September 30, 2026, unless terminated earlier, and is part of a larger €100 million buyback initiative. J&E Davy (Davy) will act as the principal for share purchases, operating independently within pre-set parameters. The buyback will initially be conducted under the authority granted at the 2025 Annual General Meeting (AGM), allowing repurchase of up to 10% of issued share capital (13,865,688 shares post-previous buybacks). Continuation beyond April 29, 2026, is contingent on shareholder approval at the 2026 AGM. The program complies with Euronext Dublin Listing Rules, EU Market Abuse Regulations, and Central Bank of Ireland guidelines. Glanbia confirmed it holds no unpublished inside information. Contact details for key executives and Davy representatives were provided.
Launch
EARN logo
All News 06:09
EARN

Significant new contracts wins endorse position

EARNZ plc

**Summary**
EARNZ plc, a leading UK energy services provider, announced two significant contract wins on February 25, 2026, reinforcing its strategic position in the market. The contracts align with the company’s goal of building long-term partnerships with Tier 1 clients in both public and private sectors, focusing on residential and non-residential property portfolios.
1. **A&D Carbon Solutions Contract**
Awarded by Fortem, on behalf of Sanctuary Housing, for a two-year project in Stoke-on-Trent and Chester.
Services include retrofit insulationventilation upgradesand renewable energy solutions.
Expected annual revenue£2.6 million, with potential extension for 12-18 months.
Delivered via EARNZ’s subsidiaryNational Retrofit Solutionsbased in Stafford.
2. **Warm Low Living Contract**
Commissioned by a consortium of Social Housing Providers in Yorkshire.
Focused on energy efficiency improvements for over 175 properties.
Project durationApril 2026 to March 2028, generating £2.1 million in revenue.
These wins follow previous successes in 2025, including contracts with Bradford Metropolitan Borough Council and Equans. CEO Peter Smith emphasized the contracts’ significance in endorsing EARNZ’s market leadership and contributing to energy efficiency, cost reduction, and improved living conditions for residents.
**Key Contacts**
EARNZ plcPeter Smith and Elizabeth Lake
Nominated Adviser and BrokerZeus Capital Limited
Financial PRCamarco
The announcement was released via RNS, the London Stock Exchange’s news service, and complies with UK regulatory requirements.
NewContract
IPF logo
All News 06:06
IPF

2025 Final Results and Accounts

International Personal Finance PLC

**Summary of International Personal Finance Plcs 2025 Final Results and Accounts**
**Overview**
International Personal Finance (IPF) reported strong financial and strategic progress for the year ended 31 December 2025, driven by robust operational delivery and its Next Gen strategy. The Group achieved pre-exceptional profit before tax of £88.6 million (2024: £85.2 million), supported by increased customer numbers, lending growth, and improved credit quality. A final dividend of 9.0 pence per share was proposed, bringing the full-year dividend to 12.8 pence per share.
**Key Financial Highlights**
**Customer Growth**Customer numbers increased by 4.7% to 1.7 million, marking the first year of growth in a decade.
**Lending and Receivables**Customer lending grew by 11.8% to £1,342.0 million, and closing net receivables increased by 13.9% to £1,061.3 million.
**Credit Quality**The impairment rate improved to 9.0% (2024: 9.6%), reflecting robust customer repayment performance.
**Dividend**A 12.5% increase in the final dividend to 9.0 pence per share, with a full-year dividend of 12.8 pence per share.
**Strategic Progress**
**Next Gen Strategy**Significant advancements in product expansion, digital capabilities, and operational efficiency.
**Product Innovation**Launched ProviSmart credit cards in Poland and a pilot in Romania, expanded retail partnerships, and introduced short-term loan products in Mexico and Poland.
**Geographic Expansion**Opened new branches in Monterrey and Ensenada, Mexico.
**Technology and Data**Invested £35.2 million in technology to enhance customer experience, automation, and data-driven decision-making.
**Proposed Acquisition by BasePoint**
The Board recommended a proposed acquisition by IPF Parent Holdings Limited (BasePoint) at an increased offer value of 250 pence per share, inclusive of a 15 pence per share special dividend. This represents a 40% premium to the closing price on 29 July 2025.
**CEO Commentary**
Gerard Ryan, CEO, highlighted the Groups accelerated growth and strategic execution, emphasizing improved customer demand, disciplined operations, and strong credit quality. He noted the Groups strong funding position and commitment to financial inclusion.
**Outlook**
IPF expects to sustain growth momentum in 2026, supported by robust credit quality, a strong balance sheet, and continued investment in key markets like Mexico and Australia. An additional £5 million per annum will be invested in new initiatives over the next two to three years to drive medium-term performance.
**Financial Review**
**Divisional Performance**Provident Europe, Provident Mexico, and IPF Digital all delivered strong growth in customer lending and receivables.
**Revenue and Costs**Revenue yield decreased slightly to 52.5%, while the cost-income ratio remained stable at 61.1%.
**Returns**Pre-exceptional RoRE moderated to 14.9%, reflecting investments in growth initiatives.
**Regulatory Update**
IPF continues to monitor and adapt to regulatory changes, particularly the implementation of the second Consumer Credit Directive (CCD II) across European markets.
**Conclusion**
IPFs 2025 results reflect strong operational and financial performance, underpinned by strategic initiatives and a focus on financial inclusion. The proposed acquisition by BasePoint marks a significant milestone, offering shareholders attractive value. The Group remains well-positioned for sustainable growth and continued progress toward its long-term goals.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY-25 (£m)FY-24 (£m)YoY Change (£m)YoY Change (%)
Customer numbers (000s)1,7291,652774.7%
Customer lending (£m)1,342.01,214.5127.510.5%
Closing net receivables (£m)1,061.3870.0191.322.0%
Pre-exceptional PBT (£m)88.685.23.44.0%
Statutory PBT (£m)85.373.312.016.4%
Full-year dividend per share (pence)12.811.41.412.3%
TNAV per share (£)2.141.870.2714.4%
Revenue (£m)737.5726.311.21.5%
Impairment (£m)(126.8)(127.5)0.70.5%
Interest expense (£m)(71.3)(70.4)(0.9)(1.3%)
Total debt facilities (£m)750656.993.114.2%
Net borrowings (£m)621515.9105.120.4%
Equity to receivables ratio (%)51%54%(3%)(5.6%)
**Notes:** * The table includes key financial metrics and debt-related figures for FY-25 and FY-24. * The YoY Change columns show the difference between FY-25 and FY-24 values. * The percentage changes are calculated based on the FY-24 values. * Debt-related figures are derived from the "Funding and balance sheet" section of the provided text. * The equity to receivables ratio is calculated as Total Equity / Amounts receivable from customers.
AML logo
All News 06:01
AML

Preliminary Results FY2025

Aston Martin Lagonda Global Holdings PLC

**Summary of Aston Martin Lagonda Global Holdings PLC Preliminary Results for FY2025**
**Overview**
Aston Martin Lagonda Global Holdings PLC (AML) reported preliminary results for FY2025, highlighting challenges in a difficult trading environment while achieving operational milestones. Despite external pressures, the company focused on product launches, operational transformation, and cost management.
**Key Financial Highlights**
**Revenue** Declined by 21% to £1,257.7 million due to lower wholesale volumes and fewer high-margin Specials.
**Gross Profit** Fell by 37% to £369.8 million, with a gross margin of 29.4%, impacted by tariffs, lower Specials, and increased warranty costs.
**Adjusted EBIT Loss** Widened to £189.2 million from £82.8 million in FY2024, reflecting lower gross profit and operational challenges.
**Net Debt** Increased to £1,380.3 million from £1,162.7 million, with liquidity at £250 million, supported by improved cash collections and the proposed sale of naming rights to AMR GP for £50 million.
**Operational Achievements**
**Product Launches** Commenced production of the Valhalla mid-engined PHEV supercar, delivering 152 units in Q4 2025, contributing to sequential ASP growth.
**Core ASP** Increased by 5% to £185,000, driven by new core model derivatives.
**Cost Management** Reduced SG&A and CAPEX, partially offsetting external challenges.
**Strategic Initiatives**
**Transformation Programme** Ongoing initiatives to enhance operational efficiency and reduce costs.
**Product Mix** Focus on an enhanced product mix, including the Valhalla and high-performance derivatives like the DBX S and Vanquish Volante.
**Market Demand** Strengthened customer engagement through global driving events, the Private Office for top clients, and the upcoming Q London flagship.
**Outlook for FY2026**
**Financial Performance** Expects material improvement driven by an enhanced product mix, transformation benefits, and disciplined operations.
**Wholesale Volumes** Similar to FY2025, with retail volumes outpacing wholesales.
**Gross Margin** Anticipated to improve to the high 30s%, supported by efficient production and Valhalla deliveries.
**Adjusted EBIT Margin** Expected to improve materially towards breakeven.
**Free Cash Flow** Significant improvement expected, with the majority of outflow in Q1 2026 and a material year-on-year improvement from Q2 onwards.
**CEO Commentary**
Adrian Hallmark emphasized navigating a challenging environment while delivering critical operational milestones. He highlighted the impact of geopolitical uncertainties and macroeconomic pressures but expressed confidence in the companys strategy and upcoming products to drive future success.
**Conclusion**
Despite a challenging FY2025, Aston Martin demonstrated resilience through operational achievements and strategic initiatives. The company is poised for a material improvement in FY2026, supported by an enhanced product mix, ongoing transformation, and disciplined operational focus.
Here is the HTML table code comparing the financials and debt year on year for Aston Martin Lagonda Global Holdings PLC:
MetricFY 2025FY 2024% Change
Revenue (£m)1,257.71,583.9(21%)
Gross Profit (£m)369.8583.9(37%)
Gross Margin (%)29.4%36.9%(750 bps)
Adjusted EBIT (£m)(189.2)(82.8)(129%)
Operating (Loss)/Profit (£m)(259.2)(99.5)(161%)
Loss Before Tax (£m)(363.9)(289.1)(26%)
Net Debt (£m)(1,380.3)(1,162.7)(19%)

Key Observations:

  • Revenue decreased by 21% from £1,583.9m in FY 2024 to £1,257.7m in FY 2025.
  • Gross profit declined by 37% from £583.9m in FY 2024 to £369.8m in FY 2025.
  • Gross margin decreased by 750 basis points from 36.9% in FY 2024 to 29.4% in FY 2025.
  • Adjusted EBIT loss widened by 129% from £(82.8)m in FY 2024 to £(189.2)m in FY 2025.
  • Net debt increased by 19% from £(1,162.7)m in FY 2024 to £(1,380.3)m in FY 2025.

Note: The negative values for net debt indicate a net debt position, while the negative values for adjusted EBIT and loss before tax indicate losses.

This table provides a clear comparison of the key financial metrics and debt position of Aston Martin Lagonda Global Holdings PLC for FY 2025 and FY 2024. The `% Change` column highlights the year-on-year changes, making it easy to identify areas of improvement or deterioration.
CNC logo
All News 06:01
CNC

Holding(s) in Company

Concurrent Technologies Plc

TR1 Buy
['CANACCORD GENUITY GROUP INC', '5.0139', '4.6270']
TRCS logo
All News 06:01
TRCS

Trading Update and North American Contract Win

Tracsis Plc

**Summary**
Tracsis PLC, a leading transport technology provider, released a trading update for the six months ended 31 January 2026 (H1 FY26), highlighting the following key points
1. **Financial Performance**H1 FY26 revenue is expected to be approximately £39 million (up from £36.3 million in H1 FY25), with adjusted EBITDA of around £5.0 million (up from £3.8 million in H1 FY25). This performance is in line with market expectations for the full year.
2. **Strategic Progress**The company continues to make progress against its strategic priorities, with revenue and margin growth in both divisions. Recurring license and consumer-driven transactional revenues also saw growth.
3. **North American Contract Win**Tracsis secured a new multi-year contract with a shortline freight railroad in North America to deploy its Train Dispatch software product. This win validates the competitiveness of their offering in the North American market and supports international diversification efforts.
4. **Balance Sheet and Cash Generation**The company maintains a strong balance sheet with healthy cash generation, reporting net cash of £25.8 million at H1 FY26 (up from £22.1 million in H1 FY25).
5. **Full-Year Expectations**The Board reiterates its expectations to deliver revenue and adjusted EBITDA in line with market expectations for the full year. The H1/H2 phasing of revenue is expected to follow historical trends, supported by recurring revenues, consumer-driven transactional revenues, and a significant confirmed orderbook.
6. **CEO Commentary**David Frost, CEO of Tracsis, expressed satisfaction with the H1 performance and highlighted the strategic importance of the North American contract win. He emphasized the companys alignment with long-term structural trends in the transport sector and its focus on executing its growth transformation strategy.
Overall, Tracsis remains well-positioned for long-term growth, supported by its robust financial performance, strategic contract wins, and alignment with industry trends.
NewContract
GSK logo
All News 06:01
GSK

GSK enters agreement to acquire 35Pharma

GSK plc

**Summary**
GSK plc announced on February 25, 2026, that it has entered into an agreement to acquire 35Pharma Inc., a Canadian clinical-stage biopharmaceutical company, for $950 million in cash. The acquisition includes HS235, a potentially best-in-class activin signaling inhibitor in clinical development for treating cardiopulmonary diseases, particularly pulmonary hypertension (PH). HS235 offers a differentiated profile by reducing the risk of bleeding and providing metabolic benefits, addressing key limitations of current PH therapies. The drug has completed Phase I trials and is set to begin studies in pulmonary arterial hypertension (PAH) and PH due to heart failure with preserved ejection fraction (PH-HFpEF).
PH affects approximately 82 million people globally, with limited treatment options and a five-year survival rate of around 50%. The global PH therapies market is projected to reach $18 billion by 2032, with activin signaling inhibitors expected to account for 50%. HS235’s mechanism targets the activin receptor pathway, reducing adverse events associated with current treatments, and offers additional metabolic benefits such as fat-selective weight loss and improved insulin sensitivity.
The acquisition strengthens GSK’s Respiratory, Immunology, and Inflammation (RI&I) portfolio, providing scalable opportunities to address metabolic, inflammatory, vascular, and fibrotic drivers of chronic diseases affecting the lung, liver, and kidney. The transaction is subject to regulatory approvals in the US and Canada and is expected to close pending customary conditions.
Agreement
MGNS logo
All News 06:01
MGNS

Results for the Full Year ended 31 December 2025

Morgan Sindall Group PLC

**Summary of Morgan Sindall Group PLCs Final Results for the Year Ended 31 December 2025**
Morgan Sindall Group PLC reported a strong performance for the full year ended 31 December 2025, with significant growth in adjusted profit before tax, up 35% to £233 million. The Group achieved record revenue of £5.0 billion, a 10% increase from the previous year, driven by robust performance across its divisions. Key highlights include
**Financial Performance**Adjusted operating profit rose by 39% to £225.7 million, with a margin expansion to 4.6%. Earnings per share (adjusted) increased by 33% to 370.0p. The Group maintained a strong balance sheet with net cash of £531 million, up from £492 million in 2024.
**Dividend Growth**The full-year dividend was increased by 20% to 158p per share, reflecting the Groups strong financial position and confidence in future prospects.
**Secured Order Book**The Group entered 2026 with a record secured order book of £12.0 billion, up 5%, and preferred bidder work increased by 17% to £19.1 billion. This includes significant growth in the Partnerships division, with a 29% increase in its order book to £11.5 billion.
**Divisional Performance**
**Partnership Housing**Revenue grew by 5% to £903 million, with operating profit up 16% to £42.0 million, despite challenges in the private housing market.
**Fit Out**Delivered exceptional performance with a 37% revenue increase to £1.78 billion and a 41% rise in operating profit to £139.9 million.
**Construction**Revenue increased by 11% to £1.16 billion, with operating profit up 20% to £37.0 million.
**Infrastructure**Revenue declined by 11% to £935 million, but operating profit remained stable at £37.2 million, with a margin expansion to 4.0%.
**Sustainability Leadership**The Group retained its MSCI AAA rating for ESG performance and achieved a CDP A- rating for climate leadership. It remains on track to meet its science-based carbon reduction targets.
**Strategic Progress**The Group increased medium-term targets for the Mixed Use Partnerships and Infrastructure divisions, reflecting improved market positions and future prospects.
**Outlook**Despite headwinds in the housing market, the Group remains positive for 2026 and expects to deliver results in line with revised expectations. The focus remains on long-term sustainable growth, supported by a strong balance sheet and disciplined capital allocation.
Overall, Morgan Sindall Group PLC demonstrated resilience and growth in 2025, with a strong financial performance, strategic progress, and continued leadership in sustainability, positioning the Group well for future opportunities.
Here is the HTML table code comparing the financials and debt year on year for Morgan Sindall Group PLC: td>+35%
MetricFY 2025 (£m)FY 2024 (£m)Change
Revenue5,0194,546+10%
Operating profit - adjusted225.7162.6+39%
Profit before tax - adjusted232.6172.5
Year end net cash531492+£39m
Net finance income6.99.9-£3m
Operating cash flow195.9134.8+£61.1m
Free cash flow161.5107.0+£54.5m
Total dividend per share (p)158.0131.5+20%

Key Observations:

  • Revenue increased by 10% year-on-year, driven by strong performance across divisions.
  • Adjusted profit before tax grew by 35%, reflecting improved margins and operational efficiency.
  • Net cash position strengthened by £39m, despite increased investment in partnerships and working capital.
  • Net finance income decreased by £3m, primarily due to lower interest income on bank deposits.
  • Operating and free cash flows improved significantly, supporting the increased dividend payout.
This table provides a concise comparison of key financial metrics and debt-related figures for Morgan Sindall Group PLC between FY 2025 and FY 2024. The observations highlight the company's strong financial performance, improved cash flows, and strengthened balance sheet.
HMSO logo
All News 06:01
HMSO

Final Results

Hammerson PLC

**Hammerson PLC Final Results for the Year Ended 31 December 2025: Summary**
**Overview**
Hammerson PLC, a leading investor and manager of prime retail-led city destinations in the UK, France, and Ireland, reported strong full-year results for 2025, highlighting significant growth in net rental income, earnings, dividends, and net tangible assets (NTA). The company is well-positioned for continued growth in FY26 and beyond, driven by active asset management, record leasing activity, and strategic acquisitions.
**Key Highlights**
1. **Financial Performance**
Total net rental income increased by 23% to £180 million, with like-for-like growth of 3%.
Portfolio value rose by 33% to £3.5 billion, supported by acquisitions, ERV growth, and yield compression.
EPRA earnings grew by 5% to £104 million, with EPS up 4% to 20.7p.
IFRS profit of £232 million, compared to a £526 million loss in FY24, driven by EPRA earnings and a £120 million net revaluation gain.
Final dividend increased by 6% to 8.56p, with a full-year dividend of 16.50p (up 6%).
2. **Operational Strength**
Record leasing of £51 million, up 18% like-for-like, with positive spreads and high demand for prime space.
Occupancy improved by 1 percentage point to 96%, with six out of ten flagship destinations at least 98% occupied.
Footfall increased by 3 million to 170 million visitors, outperforming national retail benchmarks.
3. **Strategic Investments**
Invested £757 million in key assets (Westquay, Brent Cross, Bullring, Grand Central, and The Oracle) since November 2024 at an average yield of 7.6%.
Completed repositioning at Cabot Circus and The Oracle, with Cergy 3 repositioning expected to open in H1 2027, fully pre-let to Primark and Nike.
4. **Balance Sheet and Capital Structure**
Sustainable balance sheet with a loan-to-value (LTV) ratio of 39% and net debt:EBITDA of 8.1x.
Credit rating upgrades from Fitch (A-) and Moodys (Baa2 with positive outlook).
Successful equity raise and bond issuance to support acquisitions and growth.
5. **Outlook**
FY26 guidance20% growth in net rental income, 15% growth in EPRA earnings, and 10% growth in EPRA EPS.
High visibility of long-term income streams, with further growth expected in FY27 and beyond.
**CEO Commentary**
Rob Wilkinson, Chief Executive, emphasized the company’s focus on active asset management, targeted leasing, and the success of its prime retail destinations. He highlighted the company’s strong position for future growth, driven by its integrated platform and high-quality portfolio.
**Conclusion**
Hammerson’s FY25 results demonstrate robust financial and operational performance, underpinned by strategic investments and effective asset management. The company is poised for continued growth, with a clear focus on enhancing shareholder value through increased rental income, earnings, and dividends.
Below is an HTML table comparing the financials and debt metrics year-on-year for Hammerson PLC based on the provided text:
Metric20242025Change
Net Rental Income (£m)£146m£180m+23%
Like-for-like Net Rental Income Change-0.5%+2.6%+3.1%
EPRA Earnings (£m)£99m£104m+5%
Net Revaluation Gains/Losses (£m)-£91m+£120m+£211m
Profit/(Loss) for the Period (IFRS) (£m)-£526m+£232m+£758m
Net Debt (£m)£799m£1,370m+71%
Loan to Value (LTV)30%39%+9%
Net Debt:EBITDA (rolling 12 months)5.8x9.5x+64%
Portfolio Value (£m)£2,659m£3,549m+33%
EPRA NTA per Share (£)£3.70£3.94+6%
Dividend per Share for the Year (p)15.63p16.50p+6%
### Key Highlights from the Table: 1. **Net Rental Income**: Increased by 23% from £146m in 2024 to £180m in 2025. 2. **EPRA Earnings**: Grew by 5% from £99m to £104m. 3. **Net Debt**: Rose significantly by 71% from £799m to £1,370m. 4. **Loan to Value (LTV)**: Increased from 30% to 39%. 5. **Portfolio Value**: Expanded by 33% from £2,659m to £3,549m. 6. **EPRA NTA per Share**: Improved by 6% from £3.70 to £3.94. 7. **Dividend per Share**: Increased by 6% from 15.63p to 16.50p. This table provides a clear comparison of key financial and debt metrics between 2024 and 2025 for Hammerson PLC.
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GLB

Glanbia Full Year 2025 Results

Glanbia plc

**Summary of Glanbia Full Year 2025 Results**
Glanbia plc, the Better Nutrition company, reported robust financial results for the 2025 fiscal year, ending January 3, 2026. Key highlights include
**Revenue Growth**Revenue increased by 2.3% to $3.9 billion, driven by like-for-like (LFL) growth across all three segments: Performance Nutrition (PN), Health & Nutrition (H&N), and Dairy Nutrition (DN).
**EBITDA Decline**EBITDA decreased by 9.4% to $499.1 million, primarily due to record whey input costs affecting the PN segment.
**Adjusted EPS**Adjusted earnings per share (EPS) declined by 3.4% to 134.93 cents, while basic EPS increased by 19.7% to 73.16 cents.
**Segment Performance**
**Performance Nutrition**LFL revenue growth of 4.5%, with Optimum Nutrition achieving 6.4% growth. EBITDA margin declined to 13.0% due to high whey costs.
**Health & Nutrition**LFL revenue growth of 6.8%, with strong volume growth. EBITDA margin improved to 18.4%.
**Dairy Nutrition**LFL volume growth of 4.2%, with EBITDA of $149.5 million.
**Capital Allocation**
Recommended a final dividend of 25.67 €cent, bringing the total 2025 dividend to 42.87 €cent, a 10% increase.
Returned €197 million to shareholders via share buybacks and approved an additional €100 million buyback for 2026.
**Strategic Updates**
Sold non-core brands SlimFast and Body & Fit.
Acquired Sweetmix and Scicore to enhance global scale in H&N.
Continued a group-wide transformation program targeting $60 million in annual cost savings by 2027.
**2026 Outlook**
Expects adjusted EPS growth of 7% to 11% and operating cash conversion of 85%+.
Segmental performance is expected to align with medium-term targets.
CEO Hugh McGuire emphasized the Groups resilience despite macroeconomic challenges, highlighting strong cash flow, strategic acquisitions, and progress on cost-saving initiatives. Glanbia remains focused on its medium-term targets, positioning itself as a leader in better nutrition.
Here is the comparison of Glanbia's financials and debt year on year, presented as an HTML table:
Metric2025 ($m)2024 ($m)Change (%)
Revenue3,946.43,839.72.8%
EBITDA499.1551.3-9.5%
EBITDA Margin12.6%14.4%-180bps
Adjusted EPS ($cent)134.93140.03-3.6%
Basic EPS ($cent)73.1663.2115.7%
Net Debt526.0436.020.6%
Net Debt to Adjusted EBITDA1.08x0.81x33.3% increase

Key Observations:

  • Revenue increased by 2.8% year-on-year, driven by volume and pricing growth across all segments.
  • EBITDA declined by 9.5% due to elevated input costs, particularly in Performance Nutrition.
  • Net debt increased by 20.6%, resulting in a higher net debt to adjusted EBITDA ratio of 1.08 times compared to 0.81 times in 2024.
This table provides a concise comparison of key financial metrics and debt levels between 2025 and 2024, highlighting the changes and trends in Glanbia's financial performance.
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AFC

Final Audited Results

AFC Energy plc

AFC Energy Plc, a leading provider of ammonia-based low-carbon hydrogen production and hydrogen-to-power solutions, has released its final audited results for the financial year ended 31 October 2025. The company reported significant strategic and operational progress, with a focus on commercial deployment of its proprietary technology to create shareholder value.
**Key Highlights**
1. **Financial Performance**
* Loss after tax of £22.2 million, including an increase in non-cash expenditure of £8.4 million.
* £25.3 million in cash, cash equivalents, and short-term investments at year-end, with current cash of £20.4 million as of 31 January 2026.
* £27.5 million successful oversubscribed placing to support development ambitions.
2. **Operational Achievements**
* Launch of the LC30 fuel cell generator, offering 85% lower cost, 20% more efficiency, and a substantially smaller footprint.
* Progress on the Hy-5 ammonia cracker, capable of producing 500kg/day of hydrogen, targeting sales at £10/kg.
* Strategic partnerships with Volex Plc for manufacturing and Industrial Chemicals Group Limited for low-cost bulk hydrogen production.
* Joint Development Agreements (JDAs) with S&P 500 and Komatsu Ltd partners for decentralized ammonia-to-hydrogen crackers.
3. **Strategic Focus**
* Shift towards commercial viability without government subsidies, targeting low-cost hydrogen power at scale.
* Establishment of a Project Management Office and commercial function to streamline operations and drive growth.
* Reorganization with reduced headcount and footprint, resulting in annualized savings of £1.5 million.
4. **Post-Period Developments**
* UK Environment Agency permit approval for hydrogen production from the pilot ammonia cracker, enabling revenue generation 3-4 months ahead of schedule.
* Joint Development Agreement with Komatsu Ltd for ammonia-fueled engine platform development.
5. **Business Priorities**
* Commercialization of LC30 and Hy-5 units, with a focus on pre-orders and Fuel as a Service (FaaS) offerings.
* Expansion into North American and European markets, with a refined go-to-market strategy.
* Continued development of fuel cell generators and crackers, with a focus on productization and patent applications.
**CEOs Statement**
John Wilson, Chief Executive Officer, emphasized the companys strategic reset, focusing on commercial viability and shareholder value creation. He highlighted the successful fundraising, cost-cutting measures, and technology validation through partnerships. Wilson expressed optimism for 2026, expecting sustained revenue growth and conversion of opportunities into contractual orders.
**Chairmans Statement**
The Chairman acknowledged the significant positive changes, including the appointment of a new executive team and strategic refocus. He praised the teams resilience and determination, positioning AFC Energy for a central role in the global transition to zero-emission power.
**Financial Review**
The financial review detailed the companys commercial pivot, development costs, and cash management. It highlighted the impact of strategic decisions on financial performance, including inventory write-downs and provisions for expected credit losses.
**Outlook**
AFC Energy remains well-positioned for 2026, with building commercial momentum and a growing pipeline of opportunities. The company aims to convert these opportunities into contractual orders, driving sustained revenue growth and shareholder value creation.
In summary, AFC Energys final audited results showcase significant progress in its strategic and operational goals, with a clear focus on commercial viability, technology development, and market expansion. The companys leadership expresses confidence in its ability to capitalize on the growing hydrogen economy and deliver long-term value to shareholders.
Here is a comparison of AFC Energy Plc's financials and debt year on year, presented as an HTML table:
AFC Energy Plc Financials and Debt Comparison (Year on Year)
MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue1254,002(3,877)(96.9%)
Loss After Tax(22,195)(17,419)(4,776)27.4%
Cash and Cash Equivalents25,31715,3749,94364.7%
Total Debt (Lease Liabilities)160664(504)(75.9%)
R&D Investment11,7029,5122,19023.0%
Trade and Other Receivables1,9236,737(4,814)(71.5%)
Trade and Other Payables5,6304,95567513.6%
**Key Observations:** 1. **Revenue Decline:** Revenue decreased significantly by 96.9% from FY24 to FY25, primarily due to the company's strategic decision to discontinue manufacturing and selling the AR2 units. 2. **Increased Loss:** The loss after tax increased by 27.4%, driven by non-cash items such as inventory write-downs and provisions for expected credit losses. 3. **Improved Cash Position:** Cash and cash equivalents increased by 64.7%, mainly due to the successful £27.5 million fundraising in July 2025. 4. **Reduced Debt:** Total debt (represented by lease liabilities) decreased by 75.9%, indicating a stronger balance sheet. 5. **Higher R&D Investment:** R&D investment increased by 23.0%, reflecting the company's focus on developing new products like the LC30 fuel cell generator and Hy-5 ammonia cracker. 6. **Working Capital Changes:** Trade and other receivables decreased significantly, while trade and other payables increased moderately, reflecting changes in the company's operational focus and strategic priorities. This table provides a concise comparison of key financial metrics, highlighting the significant changes and trends in AFC Energy Plc's financial performance and position between FY24 and FY25.
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FMET

Bonus Warrant Acceleration Offer Closed

Fulcrum Metals PLC

**Summary**
Fulcrum Metals PLC (AIMFMET) announced the closure of its Bonus Warrant Acceleration Offer, which raised £834,575 through the exercise of 16,691,495 warrants. The funds will strengthen the companys financial position and support ongoing work across its tailings projects, including pilot scoping studies, mineral resource estimates, and production scenario evaluations. An additional 1,458,335 warrants were issued as part of the offer extension, exercisable at 10 pence per share until August 20, 2027. The company also issued 927,045 new ordinary shares to service providers in settlement of fees totaling £98,250. Admission of the new shares to the AIM market is expected around March 2, 2026, increasing the total issued share capital to 142,130,752 ordinary shares. CEO Ryan Mee expressed gratitude to participating warrant holders and highlighted upcoming updates on the pilot scoping study and assay results from the Teck-Hughes and Sylvanite projects. Fulcrum Metals remains focused on environmentally friendly precious metal recovery from mine tailings in Canada, leveraging its exclusive technology license.
Offers
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SHC

Final Results

Shaftesbury Capital PLC

**Summary of Shaftesbury Capital PLCs Final Results for the Year Ended 31 December 2025**
Shaftesbury Capital PLC, a leading central London mixed-use REIT, reported strong financial and operational performance for the year ended 31 December 2025. The company delivered growth in rental income, earnings, dividends, property valuation, and net tangible assets per share, highlighting its resilience and strategic focus in the dynamic London West End market.
**Key Highlights**
1. **Financial Performance**
**EPRA NTA** increased by 7.2% to 214.7 pence per share, delivering a total accounting return of 9.1%.
**Portfolio valuation** grew by 6.6% like-for-like to £5.4 billion, supported by a 6.2% increase in ERV to £270 million.
**Underlying earnings** improved by 12% to 4.5 pence per share, and **dividends** increased by 14% to 4.0 pence per share.
**Leasing transactions** totaled 434, representing £39 million in contracted rent, 10.3% ahead of December 2024 ERV.
2. **Operational Strength**
**High occupancy** with only 2.6% of ERV available to let, and strong footfall and customer sales in 2026.
**Portfolio investment** of £113.3 million in capital expenditure and acquisitions, enhancing asset management and rental growth opportunities.
**Strategic partnership** with Norges Bank Investment Management (NBIM) for the Covent Garden estate, underlining the portfolios quality and long-term appeal.
3. **Portfolio and Market Position**
**West End estates** continue to perform well, with vibrant destinations supported by high occupancy, footfall, and customer sales.
**Leasing demand** remains robust, with prime West End locations highly sought after by global brands.
**Active asset management** and curation ensure the portfolio remains distinctive and well-positioned to capture customer demand.
4. **Sustainability and Community Engagement:**
**Sustainability strategy** focuses on future-proofing heritage buildings and creating sustainable, healthy places.
**Progress towards 2030 carbon reduction targets** and a reset Net Zero Carbon target to 2040.
**Active community engagement** with initiatives supporting local employment and community cohesion.
5. **Financial Position and Outlook**
**Strong balance sheet** with enhanced liquidity and low leverage, positioning the company for growth and investment.
**Medium-term target** of 5-7% rental growth, supporting total property returns of 7-9% and total accounting returns of 8-10% per annum.
**Confidence in sustained long-term growth** in rental income, earnings, dividends, and property valuation.
**Conclusion**
Shaftesbury Capital PLC demonstrated robust performance in 2025, driven by its prime West End portfolio, strategic partnerships, and active asset management. The company is well-positioned for future growth, with a strong balance sheet, enhanced liquidity, and a clear focus on sustainability and community engagement. The outlook remains positive, with strong fundamentals supporting continued rental growth and value creation.
Here is a comparison of Shaftesbury Capital PLC's financials and debt year on year, presented as an HTML table:
Metric20252024Change
Total Equity Attributable to Owners of the Parent (£m)3,954.23,674.3+7.6%
IFRS Total Equity per Share (pence)214.6200.4+7.1%
EPRA Net Tangible Assets (£m)3,954.93,671.1+7.7%
EPRA Net Tangible Assets per Share (pence)214.7200.2+7.2%
Market Value of Property Portfolio Under Management (£m)5,407.14,973.5+8.7%
Like-for-like Property Valuation Movement+6.6%+4.5%+2.1%
Net Debt (£m)813.31,405.0-42.1%
EPRA LTV16.8%27.4%-10.6%
Net Debt to EBITDA6.6x10.9x-4.3x
Profit for the Year Attributable to Owners of the Parent (£m)340.2252.1+34.9%
Underlying Earnings per Share (pence)4.54.0+12.5%
Dividend per Share (pence)4.03.5+14.3%
**Key Observations:** - **Equity and Net Assets:** Shaftesbury Capital PLC experienced a significant increase in total equity and net assets, with EPRA Net Tangible Assets per Share growing by 7.2%. - **Property Portfolio:** The market value of the property portfolio under management increased by 8.7%, driven by a 6.6% like-for-like property valuation movement. - **Debt:** Net debt decreased substantially by 42.1%, leading to a reduction in EPRA LTV and Net Debt to EBITDA ratios. - **Profitability and Earnings:** Profit for the year attributable to owners of the parent increased by 34.9%, while underlying earnings per share and dividend per share also grew. This table provides a concise overview of Shaftesbury Capital PLC's financial and debt position, highlighting key improvements and changes year on year.
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STAR

Trading Update

Star Energy Group Plc

**Summary**
Star Energy Group PLC released a trading update for the year ended 31 December 2025, highlighting key achievements and future plans. The company achieved significant cost reductions, including £2.0 million in G&A savings and a £1.2 million decrease in geothermal expenditure, while maintaining progress on high-value geothermal projects. Net production averaged 1,886 boe/d in 2025, with expectations to rise to 2,000 boe/d in 2026, supported by a flexible capital program. Strong liquidity was maintained with £7.6 million in cash and active balance sheet management. Non-core asset sales generated £6.3 million, and £5.3 million was invested in oil and gas assets, including the Singleton gas-to-wire project. Hedging strategies yielded a £1.2 million gain, and the company paid £1.7 million in Energy Profits Levy. CEO Ross Glover emphasized rigorous capital deployment, operational resilience, and the strategic importance of domestic onshore oil and gas in the UKs energy mix. The company is also exploring value-accretive acquisitions to leverage UK tax losses and enhance shareholder returns. A fuller update is expected in April with the annual results release.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
G&A SavingsN/A£2.0 millionN/A
Geothermal ExpenditureN/A£1.2 million (reduction)-£1.2 million
Net Production (boe/d)N/A1,886N/A
Cash (excl. restricted)N/A£7.6 millionN/A
Loan Facility DrawnN/A£11.9 million (€13.6 million)N/A
Restricted CashN/A£4.5 million (€5.2 million)N/A
Non-Core Asset Sale ProceedsN/A£6.3 millionN/A
Investment in Oil & Gas AssetsN/A£5.3 millionN/A
Abandonment Activities SpendN/A£1.4 millionN/A
Capex Forecast (2026)N/A£6.3 millionN/A
Oil Hedging GainN/A£1.2 millionN/A
Energy Profits Levy (2023)£1.0 millionN/AN/A
Energy Profits Levy (2024)N/A£1.7 million+£0.7 million
### Notes: 1. **2024 Data**: Some metrics for 2024 were not explicitly provided in the text, so they are marked as "N/A". 2. **Changes**: Where applicable, changes between years are indicated. 3. **Formatting**: The table is structured with headers for clarity and includes borders for better readability. This table summarizes the key financial and operational metrics year-on-year based on the provided trading update.
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AVG

Interim Results

Avingtrans Plc

**Summary of Avingtrans PLC Interim Results for the Six Months Ended 30 November 2025**
**Financial Highlights**
**Revenue** Flat at £78.1 million (H1 2025: £79.0 million), in line with management expectations.
**Gross Margin** Increased to 31.7% (H1 2025: 30.0%) due to improved aftermarket (AM) mix in the AES division.
**Adjusted EBITDA** Grew by 10.4% to £9.6 million (H1 2025: £8.7 million), driven by reduced losses in the Medical and Industrial Imaging (MII) division.
**Adjusted Profit Before Tax** Rose by 27.1% to £5.7 million (H1 2025: £4.5 million).
**Adjusted Diluted Earnings Per Share** Increased to 14.6p (H1 2025: 12.0p).
**Cash Flow** Stronger operating cash inflow of £7.6 million (H1 2025: £4.9 million).
**Net Debt** Unchanged at £12.3 million, despite ongoing investments in Medical Imaging and new nuclear technology.
**Interim Dividend** Increased to 2.0 pence per share (H1 2025: 1.9 pence).
**Operational Highlights**
**Advanced Engineering Systems (AES) Division:**
Revenue slightly lower at £75.2 million (H1 2025: £76.8 million), with a focus on H2 weighting.
Strong performance by Hayward Tyler, driven by global growth in data centers and electrification of transport, particularly new nuclear power.
Hayward Tyler secured $16.0 million in new nuclear contracts with KHNP of South Korea.
Ormandy benefited from growth in AI and data center infrastructure.
Booth won £8.5 million in contracts with HS2 and TfL.
Recovery at Slack and Parr continuesthough impacted by US tariffs.
**Medical and Industrial Imaging (MII) Division:**
Revenue increased by 33.0% to £2.9 million (H1 2025: £2.2 million) as product rollout gains momentum.
LBITDA loss reduced to £0.8 million (H1 2025: £1.7 million loss).
Adaptix received 510(k) approval from the US FDA, enabling orthopaedic system sales.
Magnetica expects to submit 510(k) approval in H2 2026.
SciMag saw increased orders for quantum computing-related systems.
**Current Trading & Outlook**
AES order book secured to achieve 95%+ of FY26 market expectations, providing strong visibility.
Increased global energy demand, driven by AI and data centers, is creating opportunities for AES businesses.
MII is entering a key phase with Adaptix sales ramping up and Magnetica regulatory approval expected in H2 2026.
The Board is confident about achieving market expectations for FY26.
**Chairman’s Statement**
Strong H1 performance from AES primes the Group for full-year expectations.
MII sales are building momentum, particularly with Adaptix’s 510(k) approval enabling US sales.
Continued investment in AES and MII, with a focus on maximizing shareholder value through the PIE (Pinpoint-Invest-Exit) strategy.
Prudent debt management and strategic M&A opportunities remain key priorities.
**Strategic Focus**
AES division focuses on nuclearthermaland hydrocarbon marketswith a strong aftermarket emphasis.
MII division targets compact MRI and 3D X-ray solutions for niche markets.
Ongoing commitment to sustainabilityinnovationand operational efficiency.
**Conclusion**
Avingtrans PLC delivered a robust H1 performance, with strategic investments and operational improvements positioning the Group for continued growth. The Board remains confident in achieving FY26 targets and long-term value creation.
Here’s an HTML table comparing the financials and debt year on year for Avingtrans PLC based on the provided text:
MetricH1 2025 (£'000)H1 2024 (£'000)Change
Revenue78,10379,017-1.16%
Gross Profit24,76923,717+4.44%
Adjusted EBITDA9,6008,700+10.34%
Adjusted Profit Before Tax5,7004,500+26.67%
Cash Inflow from Operating Activities7,6004,900+55.10%
Net Debt (excl. IFRS16)12,30012,3000.00%
Interim Dividend (pence per share)2.01.9+5.26%
### Explanation: 1. **Revenue**: Slightly decreased by 1.16% from £79.0m in H1 2024 to £78.1m in H1 2025. 2. **Gross Profit**: Increased by 4.44% from £23.7m to £24.8m. 3. **Adjusted EBITDA**: Increased by 10.34% from £8.7m to £9.6m. 4. **Adjusted Profit Before Tax**: Increased by 26.67% from £4.5m to £5.7m. 5. **Cash Inflow from Operating Activities**: Increased by 55.10% from £4.9m to £7.6m. 6. **Net Debt (excl. IFRS16)**: Remained unchanged at £12.3m. 7. **Interim Dividend**: Increased by 5.26% from 1.9 pence to 2.0 pence per share. This table provides a clear year-on-year comparison of key financial metrics and debt for Avingtrans PLC.
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CAPD

Contracts Update

Capital Drilling Ltd

**Summary**
Capital Limited (LSECAPD), a leading mining services company, announced significant contract developments across its drilling, mining, and laboratory operations on February 25, 2026. Key highlights include
1. **Waste Stripping Contract at Sukari Gold Mine**: An 18-month contract with AngloGold Ashanti in Egypt, utilizing existing and newly purchased equipment, starting Q1 2026.
2. **Grade Control Drilling Contract with Montage Gold**: A 5-year contract at the Koné Gold Project in Côte dIvoire, with mobilization beginning in Q2 2026.
3. **MSALABS Laboratory Contract with Equinox Gold**: A 5-year contract for the Valentine Project in Newfoundland, Canada, supporting the construction of a new commercial laboratory with PhotonAssayTM technology.
Additional recent awards include MSALABS contracts with Montage Gold, IAMGOLD, and the construction of a second laboratory in Côte dIvoire. The company also secured smaller contract extensions and additions across its drilling and laboratory services.
Executive Chairman Jamie Boyton emphasized the strong demand environment and the strategic deployment of recently raised funds to support growth. Further details, including 2026 guidance, will be provided during the FY2025 results announcement on March 19, 2026.
Capital Limited operates globally, offering drilling, mining, maintenance, and geochemical laboratory services across multiple countries. This update was released via RNS, the London Stock Exchanges news service.
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All News 06:01
HSBA

HSBC Holdings 2025 Results

HSBC Holdings PLC

**Summary of HSBC Holdings 2025 Results**
HSBC Holdings PLC reported strong financial performance for 2025, marked by decisive actions and strategic execution across its four core businesses: Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB).
**Key Highlights**
**Financial Performance** Reported profit before tax decreased slightly to $29.9 billion, primarily due to notable items. However, constant currency profit before tax excluding notable items rose to $36.6 billion, driven by strong performances in Wealth and Wholesale Transaction Banking.
**Revenue Growth** Revenue increased by 4% to $68.3 billion, with constant currency revenue excluding notable items rising to $71.0 billion. This growth was led by fee and other income in Wealth and Wholesale Transaction Banking.
**Return on Tangible Equity (RoTE)** RoTE was 13.3%, and excluding notable items, it increased to 17.2%, surpassing the mid-teens target.
**Strategic Targets** HSBC raised its ambition, targeting a 17% RoTE or better from 2026 to 2028, excluding notable items, and year-on-year revenue growth, rising to 5% in 2028.
**Dividends and Shareholder Returns** The Board approved a fourth interim dividend of $0.45 per share, bringing the total dividend for 2025 to $0.75 per share. Total shareholder return exceeded 57%, including a 49% increase in share price.
**Operational Efficiency** HSBC achieved $1.5 billion in organizational simplification savings, six months ahead of schedule, and is targeting further cost reallocation to support growth.
**Sustainability** HSBC remains committed to becoming a net-zero bank by 2050 and provided $102 billion in sustainable finance and investment in 2025, on track to meet its $750 billion to $1 trillion target by 2030.
**Leadership Changes** Brendan Nelson succeeded Sir Mark Tucker as Group Chairman, and Wei Sun Christianson joined as an independent non-executive Director.
**Outlook**
HSBC anticipates global economic expansion in 2026, supported by trade growth and AI-driven investments. The bank expects banking net interest income of at least $45 billion, ECL charges around 40 bps, and target basis operating expense growth of approximately 1%. HSBC is committed to maintaining its CET1 capital ratio within the 14%-14.5% range and sustaining its dividend payout ratio at 50%.
**Strategic Focus**
**Simplification and Agility** HSBC continues to streamline its operations, aiming for a simpler, more agile structure to enhance customer responsiveness.
**Growth Investments** The bank is investing in technology, wealth management, and digital innovation to drive growth and improve customer experiences.
**Sustainability Leadership** HSBC is actively supporting customers transition to net zero and expanding its sustainable finance offerings.
Overall, HSBCs 2025 results reflect robust performance, strategic discipline, and a clear focus on sustainable growth, positioning the bank well for future opportunities in a dynamic global environment.
Here is the HTML table code comparing the financials and debt year on year for HSBC Holdings based on the provided text:
Metric20252024Change
Profit before tax ($m)29,90732,309(7%)
Profit after tax ($m)23,13124,999(7%)
Revenue ($m)68,27465,8544%
Net interest income ($m)34,79432,7336%
Customer lending balances ($m)988,399930,6586%
Customer accounts ($m)1,786,8281,654,9558%
Common equity tier 1 capital ratio (%)14.914.90%
Total regulatory capital ($m)182,371172,3866%
Risk-weighted assets ($m)888,647838,2546%
Leverage ratio (%)5.35.6(5%)
**Notes:** * The table compares key financials and debt metrics for HSBC Holdings between 2025 and 2024. * The "Change" column shows the percentage change between the two years. * The data is extracted from the provided text, which is HSBC Holdings' 2025 Results announcement. * The table focuses on the most relevant metrics for comparing financials and debt year on year. This table provides a concise overview of HSBC Holdings' financial and debt performance, highlighting areas of growth and decline between 2025 and 2024.
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IGET

Half-year Financial Report

Invesco Perpetual Select Trust plc - Global Equity Income Share Portfolio

**Summary of Invesco Global Equity Income Trust PLC Half-Yearly Financial Report (Six Months Ended 30 November 2025)**
**Overview**
Invesco Global Equity Income Trust PLC (IGET) reported its half-yearly financial results for the six months ended 30 November 2025, highlighting key developments, financial performance, and strategic initiatives. The period was marked by a proposed merger with Franklin Global Trust plc (FRGT), strong share sales, and continued focus on delivering income and capital appreciation.
**Key Highlights**
1. **Proposed Merger with FRGT**A merger with FRGT was announced, with 96% of FRGT shareholders electing to rollover into IGET. This is expected to increase IGET’s net assets to approximately £460 million, enhance liquidity, and reduce ongoing charges.
2. **Share Sales and Premium**£35.2 million was raised through sales of treasury shares, with an average share price premium to NAV of 1.9%.
3. **Yield and Performance**The yield at period end was 3.7%, compared to the benchmark index yield of 1.6%. NAV total return was 8.6%, and share price total return was 9.3%, though both lagged the benchmark index return of 16.5% due to momentum-driven markets.
4. **Awards and Recognition**IGET won the Best International Trust at the Citywire Investment Trust Awards for the third consecutive year and the Global Income category at the Investment Week Investment Company of the Year Awards.
**Financial Performance**
**Net Asset Value (NAV)**Increased by 22.9% to £260.9 million.
**NAV per Share**Rose by 6.6% to 359.77p.
**Share Price**Increased by 7.3% to 367.00p.
**Gearing**: Net gearing was nilwith net cash at 1.6%.
**Investment Strategy**
IGET’s valuation-focused strategy faced challenges in momentum-driven markets but maintained strong long-term performance. The portfolio managers emphasized disciplined, bottom-up valuation, positioning the portfolio for diverse outcomes. Key contributors included ASML, Standard Chartered, and Rolls-Royce, while detractors included 3i and Novo-Nordisk.
**Dividends and Revenue**
Net revenue return per share was 2.02p.
Two interim dividends of 3.375p each were paid, with a projected annualised dividend of 13.50p per share for the year ending 31 May 2026.
**Post-Period Updates**
Net assets increased to £301 million post-period end.
NAV and share price total returns were +7.0% and +7.5%, respectively, outperforming the benchmark’s +1.8%.
Additional £25.5 million was raised through treasury share sales.
**Governance and Outlook**
Johnston Carmichael LLP was appointed as the new external auditor following a competitive tender process.
The global economic outlook for 2026 includes modest growth, lower interest rates, and fiscal stimulus, creating a balanced opportunity set for IGET’s global mandate.
**Conclusion**
IGET demonstrated resilience in a challenging market environment, with strategic initiatives like the FRGT merger poised to enhance scale and efficiency. The trust remains committed to its valuation-driven approach, aiming to deliver long-term income and capital growth for shareholders.
Below is an HTML table comparing the financials and debt year on year for INVESCO GLOBAL EQUITY INCOME TRUST PLC based on the provided text:
Metric30 November 202531 May 2025Change
Net Assets (£’000)260,921212,28322.9%
NAV per Share (pence)359.77337.366.6%
Share Price (pence)367.00342.007.3%
Premium per Ordinary Share (%)2.0%1.4%0.6%
Gross Gearing (%)nil1.2%-1.2%
Net Gearing (%)nil0.0%0.0%
Net Cash (%)1.6%nil1.6%
Net Return Before Finance Costs and Taxation (£’000)18,29421,106-13.3%
Return After Taxation (£’000)18,05620,904-13.6%
Basic Return per Ordinary Share (pence)26.6233.17-19.7%
Cash and Cash Equivalents (£’000)4,0472,61854.6%
Bank Facility (£’000)02,650-100%
### Key Observations: 1. **Net Assets and NAV per Share**: Both increased significantly year on year, with net assets up by 22.9% and NAV per share up by 6.6%. 2. **Share Price and Premium**: Share price increased by 7.3%, and the premium per ordinary share rose from 1.4% to 2.0%. 3. **Gearing and Net Cash**: Gross gearing decreased to nil, and net cash increased to 1.6%, indicating a reduction in debt and an increase in cash holdings. 4. **Returns**: Net return and return after taxation decreased year on year, reflecting lower performance in the period. 5. **Cash and Bank Facility**: Cash and cash equivalents increased significantly, while the bank facility was fully repaid, reducing debt exposure. This table provides a clear comparison of key financial metrics and debt levels between the two periods.
87FZ logo
All News 06:01
87FZ

Reviewed condensed consolidated financial results and cash dividend declaration for the year ended 31 December 2025

AECI Ltd

**Summary of AECI Limiteds Financial Results for the Year Ended 31 December 2025**
AECI Limited reported strong financial and operational performance for the year ended 31 December 2025, driven by disciplined pricing, cost management, and strategic focus on core fundamentals. Key highlights include
1. **Financial Performance**
Revenue from continuing operations declined by 4% to R32.183 billion, while EBITDA increased by 12% to R3.412 billion.
Profit from continuing operations dipped slightly by 1% to R1.530 billion, but earnings per share (EPS) from continuing operations rose by 36% to 357 cents per share (cps), and headline earnings per share (HEPS) surged by 53% to 1,098 cps.
Net debt significantly reduced from R3.738 billion in 2024 to R465 million, with gearing dropping to 4% from 31%.
2. **Dividend Declaration**
A final cash dividend of 128 cps was declared, bringing the total dividend for the year to 228 cps, compared to 219 cps in 2024.
3. **Segment Performance**
**AECI Mining**Delivered a record EBITDA of R2.722 billion (up from R2.284 billion in 2024), with margins improving to 15%, driven by cost-efficiency initiatives and favorable product mix in Asia-Pacific.
**AECI Chemicals**Revenue increased to R10.306 billion, but EBITDA declined to R924 million due to pricing pressures and credit losses. However, free cash flow generation was strong at 133%.
4. **Strategic Achievements**
Realized R2.2 billion from the disposal of non-core assets.
Improved safety performance, with a 35% reduction in the Total Recordable Injury Rate (TRIR) to 0.20, and no fatalities reported.
5. **Management Commentary**
The Interim Group CEO highlighted the Group’s progress in strengthening its long-term position, particularly the outstanding performance of AECI Mining and AECI Chemicals.
6. **Future Outlook**
AECI remains committed to delivering long-term value for stakeholders by focusing on strategic fundamentals and leveraging core competencies.
The full reviewed condensed consolidated financial results are available on the JSE cloud link and the Company’s website. The Board confirmed compliance with JSE Listings Requirements, and the results were reviewed by Deloitte & Touche with an unmodified conclusion.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
Revenue from Continuing Operations (R million)33,54632,183-4%
EBITDA from Continuing Operations (R million)3,0463,412+12%
Profit from Continuing Operations (R million)1,5451,530-1%
EPS from Continuing Operations (cps)262357+36%
HEPS (cps)7181,098+53%
Total Dividend (cps)219228+4%
Net Debt (R million)3,738465-87%
Gearing Ratio (%)31%4%-27%
Net Debt to EBITDA (times)1.20.1-92%
AECI Mining EBITDA (R million)2,2842,722+19%
AECI Chemicals EBITDA (R million)972924-5%
AECI Chemicals Free Cash Flow (R million)9171,233+34%
### Explanation: - **Metrics**: Key financial and debt metrics are compared year-on-year (2024 vs. 2025). - **Change**: Percentage change is calculated based on the provided data. - **Formatting**: The table is styled with borders and alignment for readability. This table provides a clear comparison of the financial and debt performance of AECI Limited between 2024 and 2025.
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Acquisitions 5 news titles 5
Agreement 3 news titles 3
GSK logo
Agreement 06:01
GSK

GSK enters agreement to acquire 35Pharma

GSK plc

**Summary**
GSK plc announced on February 25, 2026, that it has entered into an agreement to acquire 35Pharma Inc., a Canadian clinical-stage biopharmaceutical company, for $950 million in cash. The acquisition includes HS235, a potentially best-in-class activin signaling inhibitor in clinical development for treating cardiopulmonary diseases, particularly pulmonary hypertension (PH). HS235 offers a differentiated profile by reducing the risk of bleeding and providing metabolic benefits, addressing key limitations of current PH therapies. The drug has completed Phase I trials and is set to begin studies in pulmonary arterial hypertension (PAH) and PH due to heart failure with preserved ejection fraction (PH-HFpEF).
PH affects approximately 82 million people globally, with limited treatment options and a five-year survival rate of around 50%. The global PH therapies market is projected to reach $18 billion by 2032, with activin signaling inhibitors expected to account for 50%. HS235’s mechanism targets the activin receptor pathway, reducing adverse events associated with current treatments, and offers additional metabolic benefits such as fat-selective weight loss and improved insulin sensitivity.
The acquisition strengthens GSK’s Respiratory, Immunology, and Inflammation (RI&I) portfolio, providing scalable opportunities to address metabolic, inflammatory, vascular, and fibrotic drivers of chronic diseases affecting the lung, liver, and kidney. The transaction is subject to regulatory approvals in the US and Canada and is expected to close pending customary conditions.
Agreement
Approvals 1 news title 1
AHT logo
Approvals 14:35
AHT

U.S. Listing Update - Approval and Publication of UK Prospectus and Details of Anticipated New York and London Listings

Ashtead Group PLC

**Summary**
Sunbelt Rentals Holdings, Inc., a subsidiary of Ashtead Group plc, announced on February 25, 2026, that its prospectus for a proposed secondary listing in London has been approved by the U.K. Financial Conduct Authority (FCA). The company also received authorization from the New York Stock Exchange (NYSE) for its listing application, contingent on the effectiveness of its Form 10 registration statement and meeting standard listing requirements. The Form 10 will become effective on February 26, 2026, with trading expected to begin on March 2, 2026, on both the London Stock Exchange (LSE) and NYSE under the ticker symbol "SUNB." Shares will trade in U.S. Dollars on the NYSE and in pound sterling (via depositary interests) on the LSE. The prospectus will be available on Ashtead Groups website and, from March 2, on Sunbelt Rentals investor relations site, as well as through the National Storage Mechanism. This announcement does not constitute an offer to sell or buy securities, and further updates will be provided as needed. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are included.
Approvals
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Launch 06:31
GLB

Glanbia launches share buyback

Glanbia plc

**Summary**
Glanbia plc, the Better Nutrition company, announced on February 25, 2026, the launch of a share buyback program valued up to €50 million. The program aims to reduce the companys share capital by repurchasing and canceling ordinary shares. It will run from February 25, 2026, to September 30, 2026, unless terminated earlier, and is part of a larger €100 million buyback initiative. J&E Davy (Davy) will act as the principal for share purchases, operating independently within pre-set parameters. The buyback will initially be conducted under the authority granted at the 2025 Annual General Meeting (AGM), allowing repurchase of up to 10% of issued share capital (13,865,688 shares post-previous buybacks). Continuation beyond April 29, 2026, is contingent on shareholder approval at the 2026 AGM. The program complies with Euronext Dublin Listing Rules, EU Market Abuse Regulations, and Central Bank of Ireland guidelines. Glanbia confirmed it holds no unpublished inside information. Contact details for key executives and Davy representatives were provided.
Launch
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NewContract 3 news titles 3
EARN logo
NewContract 06:09
EARN

Significant new contracts wins endorse position

EARNZ plc

**Summary**
EARNZ plc, a leading UK energy services provider, announced two significant contract wins on February 25, 2026, reinforcing its strategic position in the market. The contracts align with the company’s goal of building long-term partnerships with Tier 1 clients in both public and private sectors, focusing on residential and non-residential property portfolios.
1. **A&D Carbon Solutions Contract**
Awarded by Fortem, on behalf of Sanctuary Housing, for a two-year project in Stoke-on-Trent and Chester.
Services include retrofit insulationventilation upgradesand renewable energy solutions.
Expected annual revenue£2.6 million, with potential extension for 12-18 months.
Delivered via EARNZ’s subsidiaryNational Retrofit Solutionsbased in Stafford.
2. **Warm Low Living Contract**
Commissioned by a consortium of Social Housing Providers in Yorkshire.
Focused on energy efficiency improvements for over 175 properties.
Project durationApril 2026 to March 2028, generating £2.1 million in revenue.
These wins follow previous successes in 2025, including contracts with Bradford Metropolitan Borough Council and Equans. CEO Peter Smith emphasized the contracts’ significance in endorsing EARNZ’s market leadership and contributing to energy efficiency, cost reduction, and improved living conditions for residents.
**Key Contacts**
EARNZ plcPeter Smith and Elizabeth Lake
Nominated Adviser and BrokerZeus Capital Limited
Financial PRCamarco
The announcement was released via RNS, the London Stock Exchange’s news service, and complies with UK regulatory requirements.
NewContract
TRCS logo
NewContract 06:01
TRCS

Trading Update and North American Contract Win

Tracsis Plc

**Summary**
Tracsis PLC, a leading transport technology provider, released a trading update for the six months ended 31 January 2026 (H1 FY26), highlighting the following key points
1. **Financial Performance**H1 FY26 revenue is expected to be approximately £39 million (up from £36.3 million in H1 FY25), with adjusted EBITDA of around £5.0 million (up from £3.8 million in H1 FY25). This performance is in line with market expectations for the full year.
2. **Strategic Progress**The company continues to make progress against its strategic priorities, with revenue and margin growth in both divisions. Recurring license and consumer-driven transactional revenues also saw growth.
3. **North American Contract Win**Tracsis secured a new multi-year contract with a shortline freight railroad in North America to deploy its Train Dispatch software product. This win validates the competitiveness of their offering in the North American market and supports international diversification efforts.
4. **Balance Sheet and Cash Generation**The company maintains a strong balance sheet with healthy cash generation, reporting net cash of £25.8 million at H1 FY26 (up from £22.1 million in H1 FY25).
5. **Full-Year Expectations**The Board reiterates its expectations to deliver revenue and adjusted EBITDA in line with market expectations for the full year. The H1/H2 phasing of revenue is expected to follow historical trends, supported by recurring revenues, consumer-driven transactional revenues, and a significant confirmed orderbook.
6. **CEO Commentary**David Frost, CEO of Tracsis, expressed satisfaction with the H1 performance and highlighted the strategic importance of the North American contract win. He emphasized the companys alignment with long-term structural trends in the transport sector and its focus on executing its growth transformation strategy.
Overall, Tracsis remains well-positioned for long-term growth, supported by its robust financial performance, strategic contract wins, and alignment with industry trends.
NewContract
CAPD logo
NewContract 06:01
CAPD

Contracts Update

Capital Drilling Ltd

**Summary**
Capital Limited (LSECAPD), a leading mining services company, announced significant contract developments across its drilling, mining, and laboratory operations on February 25, 2026. Key highlights include
1. **Waste Stripping Contract at Sukari Gold Mine**: An 18-month contract with AngloGold Ashanti in Egypt, utilizing existing and newly purchased equipment, starting Q1 2026.
2. **Grade Control Drilling Contract with Montage Gold**: A 5-year contract at the Koné Gold Project in Côte dIvoire, with mobilization beginning in Q2 2026.
3. **MSALABS Laboratory Contract with Equinox Gold**: A 5-year contract for the Valentine Project in Newfoundland, Canada, supporting the construction of a new commercial laboratory with PhotonAssayTM technology.
Additional recent awards include MSALABS contracts with Montage Gold, IAMGOLD, and the construction of a second laboratory in Côte dIvoire. The company also secured smaller contract extensions and additions across its drilling and laboratory services.
Executive Chairman Jamie Boyton emphasized the strong demand environment and the strategic deployment of recently raised funds to support growth. Further details, including 2026 guidance, will be provided during the FY2025 results announcement on March 19, 2026.
Capital Limited operates globally, offering drilling, mining, maintenance, and geochemical laboratory services across multiple countries. This update was released via RNS, the London Stock Exchanges news service.
NewContract
Offers 2 news titles 2
FMET logo
Offers 06:01
FMET

Bonus Warrant Acceleration Offer Closed

Fulcrum Metals PLC

**Summary**
Fulcrum Metals PLC (AIMFMET) announced the closure of its Bonus Warrant Acceleration Offer, which raised £834,575 through the exercise of 16,691,495 warrants. The funds will strengthen the companys financial position and support ongoing work across its tailings projects, including pilot scoping studies, mineral resource estimates, and production scenario evaluations. An additional 1,458,335 warrants were issued as part of the offer extension, exercisable at 10 pence per share until August 20, 2027. The company also issued 927,045 new ordinary shares to service providers in settlement of fees totaling £98,250. Admission of the new shares to the AIM market is expected around March 2, 2026, increasing the total issued share capital to 142,130,752 ordinary shares. CEO Ryan Mee expressed gratitude to participating warrant holders and highlighted upcoming updates on the pilot scoping study and assay results from the Teck-Hughes and Sylvanite projects. Fulcrum Metals remains focused on environmentally friendly precious metal recovery from mine tailings in Canada, leveraging its exclusive technology license.
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Reports 11 news titles 11
IGN logo
Reports 06:35
IGN

Integrated Annual Report 2025: record strategic progress with +0.7 GW of new green capacities installed, completed mass smart meter roll-out, and Adjusted EBITDA beat

AB Ignitis grupe

**Summary of AB "Ignitis grupė" Integrated Annual Report 2025**
AB "Ignitis grupė" reported strong strategic and financial progress in its 2025 Integrated Annual Report, highlighting record achievements across key areas
1. **Financial Performance**
**Adjusted EBITDA** reached €546.1 million (+3.4% YoY), surpassing the upper end of the guidance range (€510–540 million), driven by robust performance in Green Capacities and Networks segments.
**Investments** totaled €720.3 million (-11.3% YoY), within guidance, with 53.1% allocated to Networks and 39.7% to Green Capacities, focusing on solar, onshore wind, and Kruonis PSHP expansion projects.
**Net Debt** increased to €1,912.0 million (+18.6% YoY) due to continued investments, while **FFO/Net Debt** decreased to 21.0% (from 29.7% in 2024) due to temporary regulatory differences. S&P Global Ratings reaffirmed the ‘BBB+’ credit rating with a stable outlook.
2. **Business Development**
**Green Capacities**Installed capacity grew to 2.1 GW (+0.7 GW), with key projects reaching COD, including Kelmė WF (313.7 MW) in Lithuania and Silesia WF II (136.8 MW) in Poland. Final Investment Decisions were made for three BESS projects in Lithuania.
**Networks**Completed a mass smart meter roll-out with 1.3 million installations. A 10-year (€3.5 billion) Investment Plan was aligned with the regulator (NERC).
**Reserve Capacities**Won Polish capacity mechanism auctions for 381 MW (Q1 2026), 484 MW (Q4 2026), and 148 MW (2030).
**Customers & Solutions**Signed a 7-year PPA with Litgrid at €74.5/MWh for up to 160 GWh/year and expanded EV charging infrastructure with 1,799 charging points (+708 YoY).
3. **Sustainability**
**Green Share of Generation** decreased to 70.2% (-11.3 pp YoY) due to higher electricity generation at Elektrėnai Complex.
**GHG Emissions** rose to 4.49 million t CO2-eq (+10.1% YoY), with Scope 1 emissions increasing by 54.7% YoY due to Elektrėnai Complex operations.
**Carbon Intensity** increased to 248 g CO2-eq/kWh (+24.5% YoY) due to intensified natural gas usage.
Recognized for leadership in corporate transparency and climate action, securing a place on CDP’s Climate A List (top 4% of companies).
4. **Shareholder Returns and 2026 Outlook**
Proposed dividend of €1.366 per share (+3.0% YoY), totaling €98.9 million, representing a 6.2–6.4% yield.
**2026 Guidance**Adjusted EBITDA of €550–600 million and Investments of €590–690 million.
5. **Key Financial Indicators**
Adjusted EBITDA Margin decreased to 21.3% (-1.6 pp YoY).
Net Debt/Adjusted EBITDA increased to 3.50 times (+14.8% YoY).
EPS declined to €2.26 (-40.8% YoY)while DPS rose to €1.37 (+3.0% YoY).
6. **Earnings Call**Scheduled for February 25, 2026, at 1:00 pm Vilnius time, with registration and materials available online.
Overall, 2025 marked significant progress in green energy expansion, network modernization, and strategic investments, despite sustainability and financial metric challenges.
Below is the HTML table code comparing the key financial and debt metrics year-on-year for AB "Ignitis grupė" based on the provided text:
Metric2025 (EUR, millions)2024 (EUR, millions)Change
Adjusted EBITDA546.1527.93.4%
Investments720.3812.0-11.3%
Net Debt1,912.01,612.318.6%
FFO400.9478.6-16.2%
FFO/Net Debt21.0%29.7%-8.7 pp
Net Debt/Adjusted EBITDA3.503.0514.8%
Dividend per Share (DPS)1.371.333.0%
Net Profit163.9276.2-40.7%
EPS2.263.82-40.8%
### Explanation: - **Adjusted EBITDA**: Increased by 3.4% YoY, driven by stronger performance in Green Capacities and Networks segments. - **Investments**: Decreased by 11.3% YoY due to several projects reaching COD. - **Net Debt**: Increased by 18.6% YoY due to significant investments in Networks and Green Capacities. - **FFO**: Decreased by 16.2% YoY, leading to a decline in FFO/Net Debt ratio. - **Dividend per Share (DPS)**: Increased by 3.0% YoY, in line with the Dividend Policy. - **Net Profit and EPS**: Both decreased significantly YoY, reflecting lower operating profit and adjusted net profit. This table provides a concise comparison of key financial and debt metrics for 2025 and 2024.
IGET logo
Reports 06:01
IGET

Half-year Financial Report

Invesco Perpetual Select Trust plc - Global Equity Income Share Portfolio

**Summary of Invesco Global Equity Income Trust PLC Half-Yearly Financial Report (Six Months Ended 30 November 2025)**
**Overview**
Invesco Global Equity Income Trust PLC (IGET) reported its half-yearly financial results for the six months ended 30 November 2025, highlighting key developments, financial performance, and strategic initiatives. The period was marked by a proposed merger with Franklin Global Trust plc (FRGT), strong share sales, and continued focus on delivering income and capital appreciation.
**Key Highlights**
1. **Proposed Merger with FRGT**A merger with FRGT was announced, with 96% of FRGT shareholders electing to rollover into IGET. This is expected to increase IGET’s net assets to approximately £460 million, enhance liquidity, and reduce ongoing charges.
2. **Share Sales and Premium**£35.2 million was raised through sales of treasury shares, with an average share price premium to NAV of 1.9%.
3. **Yield and Performance**The yield at period end was 3.7%, compared to the benchmark index yield of 1.6%. NAV total return was 8.6%, and share price total return was 9.3%, though both lagged the benchmark index return of 16.5% due to momentum-driven markets.
4. **Awards and Recognition**IGET won the Best International Trust at the Citywire Investment Trust Awards for the third consecutive year and the Global Income category at the Investment Week Investment Company of the Year Awards.
**Financial Performance**
**Net Asset Value (NAV)**Increased by 22.9% to £260.9 million.
**NAV per Share**Rose by 6.6% to 359.77p.
**Share Price**Increased by 7.3% to 367.00p.
**Gearing**: Net gearing was nilwith net cash at 1.6%.
**Investment Strategy**
IGET’s valuation-focused strategy faced challenges in momentum-driven markets but maintained strong long-term performance. The portfolio managers emphasized disciplined, bottom-up valuation, positioning the portfolio for diverse outcomes. Key contributors included ASML, Standard Chartered, and Rolls-Royce, while detractors included 3i and Novo-Nordisk.
**Dividends and Revenue**
Net revenue return per share was 2.02p.
Two interim dividends of 3.375p each were paid, with a projected annualised dividend of 13.50p per share for the year ending 31 May 2026.
**Post-Period Updates**
Net assets increased to £301 million post-period end.
NAV and share price total returns were +7.0% and +7.5%, respectively, outperforming the benchmark’s +1.8%.
Additional £25.5 million was raised through treasury share sales.
**Governance and Outlook**
Johnston Carmichael LLP was appointed as the new external auditor following a competitive tender process.
The global economic outlook for 2026 includes modest growth, lower interest rates, and fiscal stimulus, creating a balanced opportunity set for IGET’s global mandate.
**Conclusion**
IGET demonstrated resilience in a challenging market environment, with strategic initiatives like the FRGT merger poised to enhance scale and efficiency. The trust remains committed to its valuation-driven approach, aiming to deliver long-term income and capital growth for shareholders.
Below is an HTML table comparing the financials and debt year on year for INVESCO GLOBAL EQUITY INCOME TRUST PLC based on the provided text:
Metric30 November 202531 May 2025Change
Net Assets (£’000)260,921212,28322.9%
NAV per Share (pence)359.77337.366.6%
Share Price (pence)367.00342.007.3%
Premium per Ordinary Share (%)2.0%1.4%0.6%
Gross Gearing (%)nil1.2%-1.2%
Net Gearing (%)nil0.0%0.0%
Net Cash (%)1.6%nil1.6%
Net Return Before Finance Costs and Taxation (£’000)18,29421,106-13.3%
Return After Taxation (£’000)18,05620,904-13.6%
Basic Return per Ordinary Share (pence)26.6233.17-19.7%
Cash and Cash Equivalents (£’000)4,0472,61854.6%
Bank Facility (£’000)02,650-100%
### Key Observations: 1. **Net Assets and NAV per Share**: Both increased significantly year on year, with net assets up by 22.9% and NAV per share up by 6.6%. 2. **Share Price and Premium**: Share price increased by 7.3%, and the premium per ordinary share rose from 1.4% to 2.0%. 3. **Gearing and Net Cash**: Gross gearing decreased to nil, and net cash increased to 1.6%, indicating a reduction in debt and an increase in cash holdings. 4. **Returns**: Net return and return after taxation decreased year on year, reflecting lower performance in the period. 5. **Cash and Bank Facility**: Cash and cash equivalents increased significantly, while the bank facility was fully repaid, reducing debt exposure. This table provides a clear comparison of key financial metrics and debt levels between the two periods.
Results 27 news titles 27
IPF logo
Results 06:06
IPF

2025 Final Results and Accounts

International Personal Finance PLC

**Summary of International Personal Finance Plcs 2025 Final Results and Accounts**
**Overview**
International Personal Finance (IPF) reported strong financial and strategic progress for the year ended 31 December 2025, driven by robust operational delivery and its Next Gen strategy. The Group achieved pre-exceptional profit before tax of £88.6 million (2024: £85.2 million), supported by increased customer numbers, lending growth, and improved credit quality. A final dividend of 9.0 pence per share was proposed, bringing the full-year dividend to 12.8 pence per share.
**Key Financial Highlights**
**Customer Growth**Customer numbers increased by 4.7% to 1.7 million, marking the first year of growth in a decade.
**Lending and Receivables**Customer lending grew by 11.8% to £1,342.0 million, and closing net receivables increased by 13.9% to £1,061.3 million.
**Credit Quality**The impairment rate improved to 9.0% (2024: 9.6%), reflecting robust customer repayment performance.
**Dividend**A 12.5% increase in the final dividend to 9.0 pence per share, with a full-year dividend of 12.8 pence per share.
**Strategic Progress**
**Next Gen Strategy**Significant advancements in product expansion, digital capabilities, and operational efficiency.
**Product Innovation**Launched ProviSmart credit cards in Poland and a pilot in Romania, expanded retail partnerships, and introduced short-term loan products in Mexico and Poland.
**Geographic Expansion**Opened new branches in Monterrey and Ensenada, Mexico.
**Technology and Data**Invested £35.2 million in technology to enhance customer experience, automation, and data-driven decision-making.
**Proposed Acquisition by BasePoint**
The Board recommended a proposed acquisition by IPF Parent Holdings Limited (BasePoint) at an increased offer value of 250 pence per share, inclusive of a 15 pence per share special dividend. This represents a 40% premium to the closing price on 29 July 2025.
**CEO Commentary**
Gerard Ryan, CEO, highlighted the Groups accelerated growth and strategic execution, emphasizing improved customer demand, disciplined operations, and strong credit quality. He noted the Groups strong funding position and commitment to financial inclusion.
**Outlook**
IPF expects to sustain growth momentum in 2026, supported by robust credit quality, a strong balance sheet, and continued investment in key markets like Mexico and Australia. An additional £5 million per annum will be invested in new initiatives over the next two to three years to drive medium-term performance.
**Financial Review**
**Divisional Performance**Provident Europe, Provident Mexico, and IPF Digital all delivered strong growth in customer lending and receivables.
**Revenue and Costs**Revenue yield decreased slightly to 52.5%, while the cost-income ratio remained stable at 61.1%.
**Returns**Pre-exceptional RoRE moderated to 14.9%, reflecting investments in growth initiatives.
**Regulatory Update**
IPF continues to monitor and adapt to regulatory changes, particularly the implementation of the second Consumer Credit Directive (CCD II) across European markets.
**Conclusion**
IPFs 2025 results reflect strong operational and financial performance, underpinned by strategic initiatives and a focus on financial inclusion. The proposed acquisition by BasePoint marks a significant milestone, offering shareholders attractive value. The Group remains well-positioned for sustainable growth and continued progress toward its long-term goals.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY-25 (£m)FY-24 (£m)YoY Change (£m)YoY Change (%)
Customer numbers (000s)1,7291,652774.7%
Customer lending (£m)1,342.01,214.5127.510.5%
Closing net receivables (£m)1,061.3870.0191.322.0%
Pre-exceptional PBT (£m)88.685.23.44.0%
Statutory PBT (£m)85.373.312.016.4%
Full-year dividend per share (pence)12.811.41.412.3%
TNAV per share (£)2.141.870.2714.4%
Revenue (£m)737.5726.311.21.5%
Impairment (£m)(126.8)(127.5)0.70.5%
Interest expense (£m)(71.3)(70.4)(0.9)(1.3%)
Total debt facilities (£m)750656.993.114.2%
Net borrowings (£m)621515.9105.120.4%
Equity to receivables ratio (%)51%54%(3%)(5.6%)
**Notes:** * The table includes key financial metrics and debt-related figures for FY-25 and FY-24. * The YoY Change columns show the difference between FY-25 and FY-24 values. * The percentage changes are calculated based on the FY-24 values. * Debt-related figures are derived from the "Funding and balance sheet" section of the provided text. * The equity to receivables ratio is calculated as Total Equity / Amounts receivable from customers.
AML logo
Results 06:01
AML

Preliminary Results FY2025

Aston Martin Lagonda Global Holdings PLC

**Summary of Aston Martin Lagonda Global Holdings PLC Preliminary Results for FY2025**
**Overview**
Aston Martin Lagonda Global Holdings PLC (AML) reported preliminary results for FY2025, highlighting challenges in a difficult trading environment while achieving operational milestones. Despite external pressures, the company focused on product launches, operational transformation, and cost management.
**Key Financial Highlights**
**Revenue** Declined by 21% to £1,257.7 million due to lower wholesale volumes and fewer high-margin Specials.
**Gross Profit** Fell by 37% to £369.8 million, with a gross margin of 29.4%, impacted by tariffs, lower Specials, and increased warranty costs.
**Adjusted EBIT Loss** Widened to £189.2 million from £82.8 million in FY2024, reflecting lower gross profit and operational challenges.
**Net Debt** Increased to £1,380.3 million from £1,162.7 million, with liquidity at £250 million, supported by improved cash collections and the proposed sale of naming rights to AMR GP for £50 million.
**Operational Achievements**
**Product Launches** Commenced production of the Valhalla mid-engined PHEV supercar, delivering 152 units in Q4 2025, contributing to sequential ASP growth.
**Core ASP** Increased by 5% to £185,000, driven by new core model derivatives.
**Cost Management** Reduced SG&A and CAPEX, partially offsetting external challenges.
**Strategic Initiatives**
**Transformation Programme** Ongoing initiatives to enhance operational efficiency and reduce costs.
**Product Mix** Focus on an enhanced product mix, including the Valhalla and high-performance derivatives like the DBX S and Vanquish Volante.
**Market Demand** Strengthened customer engagement through global driving events, the Private Office for top clients, and the upcoming Q London flagship.
**Outlook for FY2026**
**Financial Performance** Expects material improvement driven by an enhanced product mix, transformation benefits, and disciplined operations.
**Wholesale Volumes** Similar to FY2025, with retail volumes outpacing wholesales.
**Gross Margin** Anticipated to improve to the high 30s%, supported by efficient production and Valhalla deliveries.
**Adjusted EBIT Margin** Expected to improve materially towards breakeven.
**Free Cash Flow** Significant improvement expected, with the majority of outflow in Q1 2026 and a material year-on-year improvement from Q2 onwards.
**CEO Commentary**
Adrian Hallmark emphasized navigating a challenging environment while delivering critical operational milestones. He highlighted the impact of geopolitical uncertainties and macroeconomic pressures but expressed confidence in the companys strategy and upcoming products to drive future success.
**Conclusion**
Despite a challenging FY2025, Aston Martin demonstrated resilience through operational achievements and strategic initiatives. The company is poised for a material improvement in FY2026, supported by an enhanced product mix, ongoing transformation, and disciplined operational focus.
Here is the HTML table code comparing the financials and debt year on year for Aston Martin Lagonda Global Holdings PLC:
MetricFY 2025FY 2024% Change
Revenue (£m)1,257.71,583.9(21%)
Gross Profit (£m)369.8583.9(37%)
Gross Margin (%)29.4%36.9%(750 bps)
Adjusted EBIT (£m)(189.2)(82.8)(129%)
Operating (Loss)/Profit (£m)(259.2)(99.5)(161%)
Loss Before Tax (£m)(363.9)(289.1)(26%)
Net Debt (£m)(1,380.3)(1,162.7)(19%)

Key Observations:

  • Revenue decreased by 21% from £1,583.9m in FY 2024 to £1,257.7m in FY 2025.
  • Gross profit declined by 37% from £583.9m in FY 2024 to £369.8m in FY 2025.
  • Gross margin decreased by 750 basis points from 36.9% in FY 2024 to 29.4% in FY 2025.
  • Adjusted EBIT loss widened by 129% from £(82.8)m in FY 2024 to £(189.2)m in FY 2025.
  • Net debt increased by 19% from £(1,162.7)m in FY 2024 to £(1,380.3)m in FY 2025.

Note: The negative values for net debt indicate a net debt position, while the negative values for adjusted EBIT and loss before tax indicate losses.

This table provides a clear comparison of the key financial metrics and debt position of Aston Martin Lagonda Global Holdings PLC for FY 2025 and FY 2024. The `% Change` column highlights the year-on-year changes, making it easy to identify areas of improvement or deterioration.
MGNS logo
Results 06:01
MGNS

Results for the Full Year ended 31 December 2025

Morgan Sindall Group PLC

**Summary of Morgan Sindall Group PLCs Final Results for the Year Ended 31 December 2025**
Morgan Sindall Group PLC reported a strong performance for the full year ended 31 December 2025, with significant growth in adjusted profit before tax, up 35% to £233 million. The Group achieved record revenue of £5.0 billion, a 10% increase from the previous year, driven by robust performance across its divisions. Key highlights include
**Financial Performance**Adjusted operating profit rose by 39% to £225.7 million, with a margin expansion to 4.6%. Earnings per share (adjusted) increased by 33% to 370.0p. The Group maintained a strong balance sheet with net cash of £531 million, up from £492 million in 2024.
**Dividend Growth**The full-year dividend was increased by 20% to 158p per share, reflecting the Groups strong financial position and confidence in future prospects.
**Secured Order Book**The Group entered 2026 with a record secured order book of £12.0 billion, up 5%, and preferred bidder work increased by 17% to £19.1 billion. This includes significant growth in the Partnerships division, with a 29% increase in its order book to £11.5 billion.
**Divisional Performance**
**Partnership Housing**Revenue grew by 5% to £903 million, with operating profit up 16% to £42.0 million, despite challenges in the private housing market.
**Fit Out**Delivered exceptional performance with a 37% revenue increase to £1.78 billion and a 41% rise in operating profit to £139.9 million.
**Construction**Revenue increased by 11% to £1.16 billion, with operating profit up 20% to £37.0 million.
**Infrastructure**Revenue declined by 11% to £935 million, but operating profit remained stable at £37.2 million, with a margin expansion to 4.0%.
**Sustainability Leadership**The Group retained its MSCI AAA rating for ESG performance and achieved a CDP A- rating for climate leadership. It remains on track to meet its science-based carbon reduction targets.
**Strategic Progress**The Group increased medium-term targets for the Mixed Use Partnerships and Infrastructure divisions, reflecting improved market positions and future prospects.
**Outlook**Despite headwinds in the housing market, the Group remains positive for 2026 and expects to deliver results in line with revised expectations. The focus remains on long-term sustainable growth, supported by a strong balance sheet and disciplined capital allocation.
Overall, Morgan Sindall Group PLC demonstrated resilience and growth in 2025, with a strong financial performance, strategic progress, and continued leadership in sustainability, positioning the Group well for future opportunities.
Here is the HTML table code comparing the financials and debt year on year for Morgan Sindall Group PLC: td>+35%
MetricFY 2025 (£m)FY 2024 (£m)Change
Revenue5,0194,546+10%
Operating profit - adjusted225.7162.6+39%
Profit before tax - adjusted232.6172.5
Year end net cash531492+£39m
Net finance income6.99.9-£3m
Operating cash flow195.9134.8+£61.1m
Free cash flow161.5107.0+£54.5m
Total dividend per share (p)158.0131.5+20%

Key Observations:

  • Revenue increased by 10% year-on-year, driven by strong performance across divisions.
  • Adjusted profit before tax grew by 35%, reflecting improved margins and operational efficiency.
  • Net cash position strengthened by £39m, despite increased investment in partnerships and working capital.
  • Net finance income decreased by £3m, primarily due to lower interest income on bank deposits.
  • Operating and free cash flows improved significantly, supporting the increased dividend payout.
This table provides a concise comparison of key financial metrics and debt-related figures for Morgan Sindall Group PLC between FY 2025 and FY 2024. The observations highlight the company's strong financial performance, improved cash flows, and strengthened balance sheet.
HMSO logo
Results 06:01
HMSO

Final Results

Hammerson PLC

**Hammerson PLC Final Results for the Year Ended 31 December 2025: Summary**
**Overview**
Hammerson PLC, a leading investor and manager of prime retail-led city destinations in the UK, France, and Ireland, reported strong full-year results for 2025, highlighting significant growth in net rental income, earnings, dividends, and net tangible assets (NTA). The company is well-positioned for continued growth in FY26 and beyond, driven by active asset management, record leasing activity, and strategic acquisitions.
**Key Highlights**
1. **Financial Performance**
Total net rental income increased by 23% to £180 million, with like-for-like growth of 3%.
Portfolio value rose by 33% to £3.5 billion, supported by acquisitions, ERV growth, and yield compression.
EPRA earnings grew by 5% to £104 million, with EPS up 4% to 20.7p.
IFRS profit of £232 million, compared to a £526 million loss in FY24, driven by EPRA earnings and a £120 million net revaluation gain.
Final dividend increased by 6% to 8.56p, with a full-year dividend of 16.50p (up 6%).
2. **Operational Strength**
Record leasing of £51 million, up 18% like-for-like, with positive spreads and high demand for prime space.
Occupancy improved by 1 percentage point to 96%, with six out of ten flagship destinations at least 98% occupied.
Footfall increased by 3 million to 170 million visitors, outperforming national retail benchmarks.
3. **Strategic Investments**
Invested £757 million in key assets (Westquay, Brent Cross, Bullring, Grand Central, and The Oracle) since November 2024 at an average yield of 7.6%.
Completed repositioning at Cabot Circus and The Oracle, with Cergy 3 repositioning expected to open in H1 2027, fully pre-let to Primark and Nike.
4. **Balance Sheet and Capital Structure**
Sustainable balance sheet with a loan-to-value (LTV) ratio of 39% and net debt:EBITDA of 8.1x.
Credit rating upgrades from Fitch (A-) and Moodys (Baa2 with positive outlook).
Successful equity raise and bond issuance to support acquisitions and growth.
5. **Outlook**
FY26 guidance20% growth in net rental income, 15% growth in EPRA earnings, and 10% growth in EPRA EPS.
High visibility of long-term income streams, with further growth expected in FY27 and beyond.
**CEO Commentary**
Rob Wilkinson, Chief Executive, emphasized the company’s focus on active asset management, targeted leasing, and the success of its prime retail destinations. He highlighted the company’s strong position for future growth, driven by its integrated platform and high-quality portfolio.
**Conclusion**
Hammerson’s FY25 results demonstrate robust financial and operational performance, underpinned by strategic investments and effective asset management. The company is poised for continued growth, with a clear focus on enhancing shareholder value through increased rental income, earnings, and dividends.
Below is an HTML table comparing the financials and debt metrics year-on-year for Hammerson PLC based on the provided text:
Metric20242025Change
Net Rental Income (£m)£146m£180m+23%
Like-for-like Net Rental Income Change-0.5%+2.6%+3.1%
EPRA Earnings (£m)£99m£104m+5%
Net Revaluation Gains/Losses (£m)-£91m+£120m+£211m
Profit/(Loss) for the Period (IFRS) (£m)-£526m+£232m+£758m
Net Debt (£m)£799m£1,370m+71%
Loan to Value (LTV)30%39%+9%
Net Debt:EBITDA (rolling 12 months)5.8x9.5x+64%
Portfolio Value (£m)£2,659m£3,549m+33%
EPRA NTA per Share (£)£3.70£3.94+6%
Dividend per Share for the Year (p)15.63p16.50p+6%
### Key Highlights from the Table: 1. **Net Rental Income**: Increased by 23% from £146m in 2024 to £180m in 2025. 2. **EPRA Earnings**: Grew by 5% from £99m to £104m. 3. **Net Debt**: Rose significantly by 71% from £799m to £1,370m. 4. **Loan to Value (LTV)**: Increased from 30% to 39%. 5. **Portfolio Value**: Expanded by 33% from £2,659m to £3,549m. 6. **EPRA NTA per Share**: Improved by 6% from £3.70 to £3.94. 7. **Dividend per Share**: Increased by 6% from 15.63p to 16.50p. This table provides a clear comparison of key financial and debt metrics between 2024 and 2025 for Hammerson PLC.
GLB logo
Results 06:01
GLB

Glanbia Full Year 2025 Results

Glanbia plc

**Summary of Glanbia Full Year 2025 Results**
Glanbia plc, the Better Nutrition company, reported robust financial results for the 2025 fiscal year, ending January 3, 2026. Key highlights include
**Revenue Growth**Revenue increased by 2.3% to $3.9 billion, driven by like-for-like (LFL) growth across all three segments: Performance Nutrition (PN), Health & Nutrition (H&N), and Dairy Nutrition (DN).
**EBITDA Decline**EBITDA decreased by 9.4% to $499.1 million, primarily due to record whey input costs affecting the PN segment.
**Adjusted EPS**Adjusted earnings per share (EPS) declined by 3.4% to 134.93 cents, while basic EPS increased by 19.7% to 73.16 cents.
**Segment Performance**
**Performance Nutrition**LFL revenue growth of 4.5%, with Optimum Nutrition achieving 6.4% growth. EBITDA margin declined to 13.0% due to high whey costs.
**Health & Nutrition**LFL revenue growth of 6.8%, with strong volume growth. EBITDA margin improved to 18.4%.
**Dairy Nutrition**LFL volume growth of 4.2%, with EBITDA of $149.5 million.
**Capital Allocation**
Recommended a final dividend of 25.67 €cent, bringing the total 2025 dividend to 42.87 €cent, a 10% increase.
Returned €197 million to shareholders via share buybacks and approved an additional €100 million buyback for 2026.
**Strategic Updates**
Sold non-core brands SlimFast and Body & Fit.
Acquired Sweetmix and Scicore to enhance global scale in H&N.
Continued a group-wide transformation program targeting $60 million in annual cost savings by 2027.
**2026 Outlook**
Expects adjusted EPS growth of 7% to 11% and operating cash conversion of 85%+.
Segmental performance is expected to align with medium-term targets.
CEO Hugh McGuire emphasized the Groups resilience despite macroeconomic challenges, highlighting strong cash flow, strategic acquisitions, and progress on cost-saving initiatives. Glanbia remains focused on its medium-term targets, positioning itself as a leader in better nutrition.
Here is the comparison of Glanbia's financials and debt year on year, presented as an HTML table:
Metric2025 ($m)2024 ($m)Change (%)
Revenue3,946.43,839.72.8%
EBITDA499.1551.3-9.5%
EBITDA Margin12.6%14.4%-180bps
Adjusted EPS ($cent)134.93140.03-3.6%
Basic EPS ($cent)73.1663.2115.7%
Net Debt526.0436.020.6%
Net Debt to Adjusted EBITDA1.08x0.81x33.3% increase

Key Observations:

  • Revenue increased by 2.8% year-on-year, driven by volume and pricing growth across all segments.
  • EBITDA declined by 9.5% due to elevated input costs, particularly in Performance Nutrition.
  • Net debt increased by 20.6%, resulting in a higher net debt to adjusted EBITDA ratio of 1.08 times compared to 0.81 times in 2024.
This table provides a concise comparison of key financial metrics and debt levels between 2025 and 2024, highlighting the changes and trends in Glanbia's financial performance.
AFC logo
Results 06:01
AFC

Final Audited Results

AFC Energy plc

AFC Energy Plc, a leading provider of ammonia-based low-carbon hydrogen production and hydrogen-to-power solutions, has released its final audited results for the financial year ended 31 October 2025. The company reported significant strategic and operational progress, with a focus on commercial deployment of its proprietary technology to create shareholder value.
**Key Highlights**
1. **Financial Performance**
* Loss after tax of £22.2 million, including an increase in non-cash expenditure of £8.4 million.
* £25.3 million in cash, cash equivalents, and short-term investments at year-end, with current cash of £20.4 million as of 31 January 2026.
* £27.5 million successful oversubscribed placing to support development ambitions.
2. **Operational Achievements**
* Launch of the LC30 fuel cell generator, offering 85% lower cost, 20% more efficiency, and a substantially smaller footprint.
* Progress on the Hy-5 ammonia cracker, capable of producing 500kg/day of hydrogen, targeting sales at £10/kg.
* Strategic partnerships with Volex Plc for manufacturing and Industrial Chemicals Group Limited for low-cost bulk hydrogen production.
* Joint Development Agreements (JDAs) with S&P 500 and Komatsu Ltd partners for decentralized ammonia-to-hydrogen crackers.
3. **Strategic Focus**
* Shift towards commercial viability without government subsidies, targeting low-cost hydrogen power at scale.
* Establishment of a Project Management Office and commercial function to streamline operations and drive growth.
* Reorganization with reduced headcount and footprint, resulting in annualized savings of £1.5 million.
4. **Post-Period Developments**
* UK Environment Agency permit approval for hydrogen production from the pilot ammonia cracker, enabling revenue generation 3-4 months ahead of schedule.
* Joint Development Agreement with Komatsu Ltd for ammonia-fueled engine platform development.
5. **Business Priorities**
* Commercialization of LC30 and Hy-5 units, with a focus on pre-orders and Fuel as a Service (FaaS) offerings.
* Expansion into North American and European markets, with a refined go-to-market strategy.
* Continued development of fuel cell generators and crackers, with a focus on productization and patent applications.
**CEOs Statement**
John Wilson, Chief Executive Officer, emphasized the companys strategic reset, focusing on commercial viability and shareholder value creation. He highlighted the successful fundraising, cost-cutting measures, and technology validation through partnerships. Wilson expressed optimism for 2026, expecting sustained revenue growth and conversion of opportunities into contractual orders.
**Chairmans Statement**
The Chairman acknowledged the significant positive changes, including the appointment of a new executive team and strategic refocus. He praised the teams resilience and determination, positioning AFC Energy for a central role in the global transition to zero-emission power.
**Financial Review**
The financial review detailed the companys commercial pivot, development costs, and cash management. It highlighted the impact of strategic decisions on financial performance, including inventory write-downs and provisions for expected credit losses.
**Outlook**
AFC Energy remains well-positioned for 2026, with building commercial momentum and a growing pipeline of opportunities. The company aims to convert these opportunities into contractual orders, driving sustained revenue growth and shareholder value creation.
In summary, AFC Energys final audited results showcase significant progress in its strategic and operational goals, with a clear focus on commercial viability, technology development, and market expansion. The companys leadership expresses confidence in its ability to capitalize on the growing hydrogen economy and deliver long-term value to shareholders.
Here is a comparison of AFC Energy Plc's financials and debt year on year, presented as an HTML table:
AFC Energy Plc Financials and Debt Comparison (Year on Year)
MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue1254,002(3,877)(96.9%)
Loss After Tax(22,195)(17,419)(4,776)27.4%
Cash and Cash Equivalents25,31715,3749,94364.7%
Total Debt (Lease Liabilities)160664(504)(75.9%)
R&D Investment11,7029,5122,19023.0%
Trade and Other Receivables1,9236,737(4,814)(71.5%)
Trade and Other Payables5,6304,95567513.6%
**Key Observations:** 1. **Revenue Decline:** Revenue decreased significantly by 96.9% from FY24 to FY25, primarily due to the company's strategic decision to discontinue manufacturing and selling the AR2 units. 2. **Increased Loss:** The loss after tax increased by 27.4%, driven by non-cash items such as inventory write-downs and provisions for expected credit losses. 3. **Improved Cash Position:** Cash and cash equivalents increased by 64.7%, mainly due to the successful £27.5 million fundraising in July 2025. 4. **Reduced Debt:** Total debt (represented by lease liabilities) decreased by 75.9%, indicating a stronger balance sheet. 5. **Higher R&D Investment:** R&D investment increased by 23.0%, reflecting the company's focus on developing new products like the LC30 fuel cell generator and Hy-5 ammonia cracker. 6. **Working Capital Changes:** Trade and other receivables decreased significantly, while trade and other payables increased moderately, reflecting changes in the company's operational focus and strategic priorities. This table provides a concise comparison of key financial metrics, highlighting the significant changes and trends in AFC Energy Plc's financial performance and position between FY24 and FY25.
SHC logo
Results 06:01
SHC

Final Results

Shaftesbury Capital PLC

**Summary of Shaftesbury Capital PLCs Final Results for the Year Ended 31 December 2025**
Shaftesbury Capital PLC, a leading central London mixed-use REIT, reported strong financial and operational performance for the year ended 31 December 2025. The company delivered growth in rental income, earnings, dividends, property valuation, and net tangible assets per share, highlighting its resilience and strategic focus in the dynamic London West End market.
**Key Highlights**
1. **Financial Performance**
**EPRA NTA** increased by 7.2% to 214.7 pence per share, delivering a total accounting return of 9.1%.
**Portfolio valuation** grew by 6.6% like-for-like to £5.4 billion, supported by a 6.2% increase in ERV to £270 million.
**Underlying earnings** improved by 12% to 4.5 pence per share, and **dividends** increased by 14% to 4.0 pence per share.
**Leasing transactions** totaled 434, representing £39 million in contracted rent, 10.3% ahead of December 2024 ERV.
2. **Operational Strength**
**High occupancy** with only 2.6% of ERV available to let, and strong footfall and customer sales in 2026.
**Portfolio investment** of £113.3 million in capital expenditure and acquisitions, enhancing asset management and rental growth opportunities.
**Strategic partnership** with Norges Bank Investment Management (NBIM) for the Covent Garden estate, underlining the portfolios quality and long-term appeal.
3. **Portfolio and Market Position**
**West End estates** continue to perform well, with vibrant destinations supported by high occupancy, footfall, and customer sales.
**Leasing demand** remains robust, with prime West End locations highly sought after by global brands.
**Active asset management** and curation ensure the portfolio remains distinctive and well-positioned to capture customer demand.
4. **Sustainability and Community Engagement:**
**Sustainability strategy** focuses on future-proofing heritage buildings and creating sustainable, healthy places.
**Progress towards 2030 carbon reduction targets** and a reset Net Zero Carbon target to 2040.
**Active community engagement** with initiatives supporting local employment and community cohesion.
5. **Financial Position and Outlook**
**Strong balance sheet** with enhanced liquidity and low leverage, positioning the company for growth and investment.
**Medium-term target** of 5-7% rental growth, supporting total property returns of 7-9% and total accounting returns of 8-10% per annum.
**Confidence in sustained long-term growth** in rental income, earnings, dividends, and property valuation.
**Conclusion**
Shaftesbury Capital PLC demonstrated robust performance in 2025, driven by its prime West End portfolio, strategic partnerships, and active asset management. The company is well-positioned for future growth, with a strong balance sheet, enhanced liquidity, and a clear focus on sustainability and community engagement. The outlook remains positive, with strong fundamentals supporting continued rental growth and value creation.
Here is a comparison of Shaftesbury Capital PLC's financials and debt year on year, presented as an HTML table:
Metric20252024Change
Total Equity Attributable to Owners of the Parent (£m)3,954.23,674.3+7.6%
IFRS Total Equity per Share (pence)214.6200.4+7.1%
EPRA Net Tangible Assets (£m)3,954.93,671.1+7.7%
EPRA Net Tangible Assets per Share (pence)214.7200.2+7.2%
Market Value of Property Portfolio Under Management (£m)5,407.14,973.5+8.7%
Like-for-like Property Valuation Movement+6.6%+4.5%+2.1%
Net Debt (£m)813.31,405.0-42.1%
EPRA LTV16.8%27.4%-10.6%
Net Debt to EBITDA6.6x10.9x-4.3x
Profit for the Year Attributable to Owners of the Parent (£m)340.2252.1+34.9%
Underlying Earnings per Share (pence)4.54.0+12.5%
Dividend per Share (pence)4.03.5+14.3%
**Key Observations:** - **Equity and Net Assets:** Shaftesbury Capital PLC experienced a significant increase in total equity and net assets, with EPRA Net Tangible Assets per Share growing by 7.2%. - **Property Portfolio:** The market value of the property portfolio under management increased by 8.7%, driven by a 6.6% like-for-like property valuation movement. - **Debt:** Net debt decreased substantially by 42.1%, leading to a reduction in EPRA LTV and Net Debt to EBITDA ratios. - **Profitability and Earnings:** Profit for the year attributable to owners of the parent increased by 34.9%, while underlying earnings per share and dividend per share also grew. This table provides a concise overview of Shaftesbury Capital PLC's financial and debt position, highlighting key improvements and changes year on year.
AVG logo
Results 06:01
AVG

Interim Results

Avingtrans Plc

**Summary of Avingtrans PLC Interim Results for the Six Months Ended 30 November 2025**
**Financial Highlights**
**Revenue** Flat at £78.1 million (H1 2025: £79.0 million), in line with management expectations.
**Gross Margin** Increased to 31.7% (H1 2025: 30.0%) due to improved aftermarket (AM) mix in the AES division.
**Adjusted EBITDA** Grew by 10.4% to £9.6 million (H1 2025: £8.7 million), driven by reduced losses in the Medical and Industrial Imaging (MII) division.
**Adjusted Profit Before Tax** Rose by 27.1% to £5.7 million (H1 2025: £4.5 million).
**Adjusted Diluted Earnings Per Share** Increased to 14.6p (H1 2025: 12.0p).
**Cash Flow** Stronger operating cash inflow of £7.6 million (H1 2025: £4.9 million).
**Net Debt** Unchanged at £12.3 million, despite ongoing investments in Medical Imaging and new nuclear technology.
**Interim Dividend** Increased to 2.0 pence per share (H1 2025: 1.9 pence).
**Operational Highlights**
**Advanced Engineering Systems (AES) Division:**
Revenue slightly lower at £75.2 million (H1 2025: £76.8 million), with a focus on H2 weighting.
Strong performance by Hayward Tyler, driven by global growth in data centers and electrification of transport, particularly new nuclear power.
Hayward Tyler secured $16.0 million in new nuclear contracts with KHNP of South Korea.
Ormandy benefited from growth in AI and data center infrastructure.
Booth won £8.5 million in contracts with HS2 and TfL.
Recovery at Slack and Parr continuesthough impacted by US tariffs.
**Medical and Industrial Imaging (MII) Division:**
Revenue increased by 33.0% to £2.9 million (H1 2025: £2.2 million) as product rollout gains momentum.
LBITDA loss reduced to £0.8 million (H1 2025: £1.7 million loss).
Adaptix received 510(k) approval from the US FDA, enabling orthopaedic system sales.
Magnetica expects to submit 510(k) approval in H2 2026.
SciMag saw increased orders for quantum computing-related systems.
**Current Trading & Outlook**
AES order book secured to achieve 95%+ of FY26 market expectations, providing strong visibility.
Increased global energy demand, driven by AI and data centers, is creating opportunities for AES businesses.
MII is entering a key phase with Adaptix sales ramping up and Magnetica regulatory approval expected in H2 2026.
The Board is confident about achieving market expectations for FY26.
**Chairman’s Statement**
Strong H1 performance from AES primes the Group for full-year expectations.
MII sales are building momentum, particularly with Adaptix’s 510(k) approval enabling US sales.
Continued investment in AES and MII, with a focus on maximizing shareholder value through the PIE (Pinpoint-Invest-Exit) strategy.
Prudent debt management and strategic M&A opportunities remain key priorities.
**Strategic Focus**
AES division focuses on nuclearthermaland hydrocarbon marketswith a strong aftermarket emphasis.
MII division targets compact MRI and 3D X-ray solutions for niche markets.
Ongoing commitment to sustainabilityinnovationand operational efficiency.
**Conclusion**
Avingtrans PLC delivered a robust H1 performance, with strategic investments and operational improvements positioning the Group for continued growth. The Board remains confident in achieving FY26 targets and long-term value creation.
Here’s an HTML table comparing the financials and debt year on year for Avingtrans PLC based on the provided text:
MetricH1 2025 (£'000)H1 2024 (£'000)Change
Revenue78,10379,017-1.16%
Gross Profit24,76923,717+4.44%
Adjusted EBITDA9,6008,700+10.34%
Adjusted Profit Before Tax5,7004,500+26.67%
Cash Inflow from Operating Activities7,6004,900+55.10%
Net Debt (excl. IFRS16)12,30012,3000.00%
Interim Dividend (pence per share)2.01.9+5.26%
### Explanation: 1. **Revenue**: Slightly decreased by 1.16% from £79.0m in H1 2024 to £78.1m in H1 2025. 2. **Gross Profit**: Increased by 4.44% from £23.7m to £24.8m. 3. **Adjusted EBITDA**: Increased by 10.34% from £8.7m to £9.6m. 4. **Adjusted Profit Before Tax**: Increased by 26.67% from £4.5m to £5.7m. 5. **Cash Inflow from Operating Activities**: Increased by 55.10% from £4.9m to £7.6m. 6. **Net Debt (excl. IFRS16)**: Remained unchanged at £12.3m. 7. **Interim Dividend**: Increased by 5.26% from 1.9 pence to 2.0 pence per share. This table provides a clear year-on-year comparison of key financial metrics and debt for Avingtrans PLC.
HSBA logo
Results 06:01
HSBA

HSBC Holdings 2025 Results

HSBC Holdings PLC

**Summary of HSBC Holdings 2025 Results**
HSBC Holdings PLC reported strong financial performance for 2025, marked by decisive actions and strategic execution across its four core businesses: Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB).
**Key Highlights**
**Financial Performance** Reported profit before tax decreased slightly to $29.9 billion, primarily due to notable items. However, constant currency profit before tax excluding notable items rose to $36.6 billion, driven by strong performances in Wealth and Wholesale Transaction Banking.
**Revenue Growth** Revenue increased by 4% to $68.3 billion, with constant currency revenue excluding notable items rising to $71.0 billion. This growth was led by fee and other income in Wealth and Wholesale Transaction Banking.
**Return on Tangible Equity (RoTE)** RoTE was 13.3%, and excluding notable items, it increased to 17.2%, surpassing the mid-teens target.
**Strategic Targets** HSBC raised its ambition, targeting a 17% RoTE or better from 2026 to 2028, excluding notable items, and year-on-year revenue growth, rising to 5% in 2028.
**Dividends and Shareholder Returns** The Board approved a fourth interim dividend of $0.45 per share, bringing the total dividend for 2025 to $0.75 per share. Total shareholder return exceeded 57%, including a 49% increase in share price.
**Operational Efficiency** HSBC achieved $1.5 billion in organizational simplification savings, six months ahead of schedule, and is targeting further cost reallocation to support growth.
**Sustainability** HSBC remains committed to becoming a net-zero bank by 2050 and provided $102 billion in sustainable finance and investment in 2025, on track to meet its $750 billion to $1 trillion target by 2030.
**Leadership Changes** Brendan Nelson succeeded Sir Mark Tucker as Group Chairman, and Wei Sun Christianson joined as an independent non-executive Director.
**Outlook**
HSBC anticipates global economic expansion in 2026, supported by trade growth and AI-driven investments. The bank expects banking net interest income of at least $45 billion, ECL charges around 40 bps, and target basis operating expense growth of approximately 1%. HSBC is committed to maintaining its CET1 capital ratio within the 14%-14.5% range and sustaining its dividend payout ratio at 50%.
**Strategic Focus**
**Simplification and Agility** HSBC continues to streamline its operations, aiming for a simpler, more agile structure to enhance customer responsiveness.
**Growth Investments** The bank is investing in technology, wealth management, and digital innovation to drive growth and improve customer experiences.
**Sustainability Leadership** HSBC is actively supporting customers transition to net zero and expanding its sustainable finance offerings.
Overall, HSBCs 2025 results reflect robust performance, strategic discipline, and a clear focus on sustainable growth, positioning the bank well for future opportunities in a dynamic global environment.
Here is the HTML table code comparing the financials and debt year on year for HSBC Holdings based on the provided text:
Metric20252024Change
Profit before tax ($m)29,90732,309(7%)
Profit after tax ($m)23,13124,999(7%)
Revenue ($m)68,27465,8544%
Net interest income ($m)34,79432,7336%
Customer lending balances ($m)988,399930,6586%
Customer accounts ($m)1,786,8281,654,9558%
Common equity tier 1 capital ratio (%)14.914.90%
Total regulatory capital ($m)182,371172,3866%
Risk-weighted assets ($m)888,647838,2546%
Leverage ratio (%)5.35.6(5%)
**Notes:** * The table compares key financials and debt metrics for HSBC Holdings between 2025 and 2024. * The "Change" column shows the percentage change between the two years. * The data is extracted from the provided text, which is HSBC Holdings' 2025 Results announcement. * The table focuses on the most relevant metrics for comparing financials and debt year on year. This table provides a concise overview of HSBC Holdings' financial and debt performance, highlighting areas of growth and decline between 2025 and 2024.
87FZ logo
Results 06:01
87FZ

Reviewed condensed consolidated financial results and cash dividend declaration for the year ended 31 December 2025

AECI Ltd

**Summary of AECI Limiteds Financial Results for the Year Ended 31 December 2025**
AECI Limited reported strong financial and operational performance for the year ended 31 December 2025, driven by disciplined pricing, cost management, and strategic focus on core fundamentals. Key highlights include
1. **Financial Performance**
Revenue from continuing operations declined by 4% to R32.183 billion, while EBITDA increased by 12% to R3.412 billion.
Profit from continuing operations dipped slightly by 1% to R1.530 billion, but earnings per share (EPS) from continuing operations rose by 36% to 357 cents per share (cps), and headline earnings per share (HEPS) surged by 53% to 1,098 cps.
Net debt significantly reduced from R3.738 billion in 2024 to R465 million, with gearing dropping to 4% from 31%.
2. **Dividend Declaration**
A final cash dividend of 128 cps was declared, bringing the total dividend for the year to 228 cps, compared to 219 cps in 2024.
3. **Segment Performance**
**AECI Mining**Delivered a record EBITDA of R2.722 billion (up from R2.284 billion in 2024), with margins improving to 15%, driven by cost-efficiency initiatives and favorable product mix in Asia-Pacific.
**AECI Chemicals**Revenue increased to R10.306 billion, but EBITDA declined to R924 million due to pricing pressures and credit losses. However, free cash flow generation was strong at 133%.
4. **Strategic Achievements**
Realized R2.2 billion from the disposal of non-core assets.
Improved safety performance, with a 35% reduction in the Total Recordable Injury Rate (TRIR) to 0.20, and no fatalities reported.
5. **Management Commentary**
The Interim Group CEO highlighted the Group’s progress in strengthening its long-term position, particularly the outstanding performance of AECI Mining and AECI Chemicals.
6. **Future Outlook**
AECI remains committed to delivering long-term value for stakeholders by focusing on strategic fundamentals and leveraging core competencies.
The full reviewed condensed consolidated financial results are available on the JSE cloud link and the Company’s website. The Board confirmed compliance with JSE Listings Requirements, and the results were reviewed by Deloitte & Touche with an unmodified conclusion.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
Revenue from Continuing Operations (R million)33,54632,183-4%
EBITDA from Continuing Operations (R million)3,0463,412+12%
Profit from Continuing Operations (R million)1,5451,530-1%
EPS from Continuing Operations (cps)262357+36%
HEPS (cps)7181,098+53%
Total Dividend (cps)219228+4%
Net Debt (R million)3,738465-87%
Gearing Ratio (%)31%4%-27%
Net Debt to EBITDA (times)1.20.1-92%
AECI Mining EBITDA (R million)2,2842,722+19%
AECI Chemicals EBITDA (R million)972924-5%
AECI Chemicals Free Cash Flow (R million)9171,233+34%
### Explanation: - **Metrics**: Key financial and debt metrics are compared year-on-year (2024 vs. 2025). - **Change**: Percentage change is calculated based on the provided data. - **Formatting**: The table is styled with borders and alignment for readability. This table provides a clear comparison of the financial and debt performance of AECI Limited between 2024 and 2025.
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TR1 41 news titles 41
IEM logo
TR1 16:12
IEM

Holding(s) in Company

Impax Environmental Markets PLC

TR1 Buy
['Bank of America Corporation', '0.000000', '0.000000']
FCM logo
TR1 15:53
FCM

Holding(s) in Company

First Class Metals PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Anthony Charles Harris', 'reached', 'Position of previous']
SST logo
TR1 15:28
SST

Holding(s) in Company

The Scottish Oriental Smaller Companies Trust plc

TR1 Buy
['City of London Investment Management Company Limited', '16.004000', '15.004000']
BGUK logo
TR1 15:09
BGUK

Holding(s) in Company

Baillie Gifford UK Growth Fund PLC

TR1 Buy
['City of London Investment Management Company Limited', '16.010000', '15.010000']
IPF logo
TR1 14:30
IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['HSBC Holdings plc', '9.994000', '10.006000']
USA logo
TR1 08:34
USA

Holding(s) in Company

Baillie Gifford US Growth Trust PLC

TR1 Buy
['Bank of America Corporation', '3.119707', '2.517370']
BGEU logo
TR1 08:32
BGEU

Holding(s) in Company

Baillie Gifford European Growth Trust PLC

TR1 Buy
['Allspring Global Investments Holdings.', '22.010000', '21.031000']
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Updates 12 news titles 12
STAR logo
Updates 06:01
STAR

Trading Update

Star Energy Group Plc

**Summary**
Star Energy Group PLC released a trading update for the year ended 31 December 2025, highlighting key achievements and future plans. The company achieved significant cost reductions, including £2.0 million in G&A savings and a £1.2 million decrease in geothermal expenditure, while maintaining progress on high-value geothermal projects. Net production averaged 1,886 boe/d in 2025, with expectations to rise to 2,000 boe/d in 2026, supported by a flexible capital program. Strong liquidity was maintained with £7.6 million in cash and active balance sheet management. Non-core asset sales generated £6.3 million, and £5.3 million was invested in oil and gas assets, including the Singleton gas-to-wire project. Hedging strategies yielded a £1.2 million gain, and the company paid £1.7 million in Energy Profits Levy. CEO Ross Glover emphasized rigorous capital deployment, operational resilience, and the strategic importance of domestic onshore oil and gas in the UKs energy mix. The company is also exploring value-accretive acquisitions to leverage UK tax losses and enhance shareholder returns. A fuller update is expected in April with the annual results release.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
G&A SavingsN/A£2.0 millionN/A
Geothermal ExpenditureN/A£1.2 million (reduction)-£1.2 million
Net Production (boe/d)N/A1,886N/A
Cash (excl. restricted)N/A£7.6 millionN/A
Loan Facility DrawnN/A£11.9 million (€13.6 million)N/A
Restricted CashN/A£4.5 million (€5.2 million)N/A
Non-Core Asset Sale ProceedsN/A£6.3 millionN/A
Investment in Oil & Gas AssetsN/A£5.3 millionN/A
Abandonment Activities SpendN/A£1.4 millionN/A
Capex Forecast (2026)N/A£6.3 millionN/A
Oil Hedging GainN/A£1.2 millionN/A
Energy Profits Levy (2023)£1.0 millionN/AN/A
Energy Profits Levy (2024)N/A£1.7 million+£0.7 million
### Notes: 1. **2024 Data**: Some metrics for 2024 were not explicitly provided in the text, so they are marked as "N/A". 2. **Changes**: Where applicable, changes between years are indicated. 3. **Formatting**: The table is structured with headers for clarity and includes borders for better readability. This table summarizes the key financial and operational metrics year-on-year based on the provided trading update.
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Trading Floor
2026-02-25
470
Headlines
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0KX9
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Price Movers 2026-02-25
0KX9
-5.3%
News Flow 470 items today
AI
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1
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1
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Collaborate
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ContractWin
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Deals
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DirectorDealing
13
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Exceeded
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27
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2026-02-25 20 picks
80 Positive
AHT
Ashtead Group PLC
Positive
U.S. Listing Update - Approval and Publication of UK Prospectus and Details of Anticipated New York and London Listings
**Summary:** Sunbelt Rentals Holdings, Inc., a subsidiary of Ashtead Group plc, announced on February 25, 2026, that its prospectus for a proposed secondary listing in London has been approved by the U.K. Financial Conduct Authority (FCA). The company also received authorization from the New York Stock Exchange (NYSE) for its listing application, contingent on the effectiveness of its Form 10 registration statement and meeting standard listing requirements. The Form 10 will become effective on February 26, 2026, with trading expected to begin on March 2, 2026, on both the London Stock Exchange (LSE) and NYSE under the ticker symbol "SUNB." Shares will trade in U.S. Dollars on the NYSE and in pound sterling (via depositary interests) on the LSE. The prospectus will be available on Ashtead Groups website and, from March 2, on Sunbelt Rentals investor relations site, as well as through the National Storage Mechanism. This announcement does not constitute an offer to sell or buy securities, and further updates will be provided as needed. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are included.
**Summary**
Sunbelt Rentals Holdings, Inc., a subsidiary of Ashtead Group plc, announced on February 25, 2026, that its prospectus for a proposed secondary listing in London has been approved by the U.K. Financial Conduct Authority (FCA). The company also received authorization from the New York Stock Exchange (NYSE) for its listing application, contingent on the effectiveness of its Form 10 registration statement and meeting standard listing requirements. The Form 10 will become effective on February 26, 2026, with trading expected to begin on March 2, 2026, on both the London Stock Exchange (LSE) and NYSE under the ticker symbol "SUNB." Shares will trade in U.S. Dollars on the NYSE and in pound sterling (via depositary interests) on the LSE. The prospectus will be available on Ashtead Groups website and, from March 2, on Sunbelt Rentals investor relations site, as well as through the National Storage Mechanism. This announcement does not constitute an offer to sell or buy securities, and further updates will be provided as needed. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are included.
Approvals
14:35
Open Terminal ↗ RNS Source
80 Positive
GLB
Glanbia plc
Positive
Glanbia launches share buyback
**Summary:** Glanbia plc, the Better Nutrition company, announced on February 25, 2026, the launch of a share buyback program valued up to €50 million. The program aims to reduce the companys share capital by repurchasing and canceling ordinary shares. It will run from February 25, 2026, to September 30, 2026, unless terminated earlier, and is part of a larger €100 million buyback initiative. J&E Davy (Davy) will act as the principal for share purchases, operating independently within pre-set parameters. The buyback will initially be conducted under the authority granted at the 2025 Annual General Meeting (AGM), allowing repurchase of up to 10% of issued share capital (13,865,688 shares post-previous buybacks). Continuation beyond April 29, 2026, is contingent on shareholder approval at the 2026 AGM. The program complies with Euronext Dublin Listing Rules, EU Market Abuse Regulations, and Central Bank of Ireland guidelines. Glanbia confirmed it holds no unpublished inside information. Contact details for key executives and Davy representatives were provided.
**Summary**
Glanbia plc, the Better Nutrition company, announced on February 25, 2026, the launch of a share buyback program valued up to €50 million. The program aims to reduce the companys share capital by repurchasing and canceling ordinary shares. It will run from February 25, 2026, to September 30, 2026, unless terminated earlier, and is part of a larger €100 million buyback initiative. J&E Davy (Davy) will act as the principal for share purchases, operating independently within pre-set parameters. The buyback will initially be conducted under the authority granted at the 2025 Annual General Meeting (AGM), allowing repurchase of up to 10% of issued share capital (13,865,688 shares post-previous buybacks). Continuation beyond April 29, 2026, is contingent on shareholder approval at the 2026 AGM. The program complies with Euronext Dublin Listing Rules, EU Market Abuse Regulations, and Central Bank of Ireland guidelines. Glanbia confirmed it holds no unpublished inside information. Contact details for key executives and Davy representatives were provided.
Launch
06:31
Open Terminal ↗ RNS Source
80 Positive
EARN
EARNZ plc
Positive
Significant new contracts wins endorse position
**Summary:** EARNZ plc, a leading UK energy services provider, announced two significant contract wins on February 25, 2026, reinforcing its strategic position in the market. The contracts align with the company’s goal of building long-term partnerships with Tier 1 clients in both public and private sectors, focusing on residential and non-residential property portfolios. 1. **A&D Carbon Solutions Contract:** - Awarded by Fortem, on behalf of Sanctuary Housing, for a two-year project in Stoke-on-Trent and Chester. - Services include retrofit insulation, ventilation upgrades, and renewable energy solutions. - Expected annual revenue: £2.6 million, with potential extension for 12-18 months. - Delivered via EARNZ’s subsidiary, National Retrofit Solutions, based in Stafford. 2. **Warm Low Living Contract:** - Commissioned by a consortium of Social Housing Providers in Yorkshire. - Focused on energy efficiency improvements for over 175 properties. - Project duration: April 2026 to March 2028, generating £2.1 million in revenue. These wins follow previous successes in 2025, including contracts with Bradford Metropolitan Borough Council and Equans. CEO Peter Smith emphasized the contracts’ significance in endorsing EARNZ’s market leadership and contributing to energy efficiency, cost reduction, and improved living conditions for residents. **Key Contacts:** - EARNZ plc: Peter Smith and Elizabeth Lake - Nominated Adviser and Broker: Zeus Capital Limited - Financial PR: Camarco The announcement was released via RNS, the London Stock Exchange’s news service, and complies with UK regulatory requirements.
**Summary**
EARNZ plc, a leading UK energy services provider, announced two significant contract wins on February 25, 2026, reinforcing its strategic position in the market. The contracts align with the company’s goal of building long-term partnerships with Tier 1 clients in both public and private sectors, focusing on residential and non-residential property portfolios.
1. **A&D Carbon Solutions Contract**
Awarded by Fortem, on behalf of Sanctuary Housing, for a two-year project in Stoke-on-Trent and Chester.
Services include retrofit insulationventilation upgradesand renewable energy solutions.
Expected annual revenue£2.6 million, with potential extension for 12-18 months.
Delivered via EARNZ’s subsidiaryNational Retrofit Solutionsbased in Stafford.
2. **Warm Low Living Contract**
Commissioned by a consortium of Social Housing Providers in Yorkshire.
Focused on energy efficiency improvements for over 175 properties.
Project durationApril 2026 to March 2028, generating £2.1 million in revenue.
These wins follow previous successes in 2025, including contracts with Bradford Metropolitan Borough Council and Equans. CEO Peter Smith emphasized the contracts’ significance in endorsing EARNZ’s market leadership and contributing to energy efficiency, cost reduction, and improved living conditions for residents.
**Key Contacts**
EARNZ plcPeter Smith and Elizabeth Lake
Nominated Adviser and BrokerZeus Capital Limited
Financial PRCamarco
The announcement was released via RNS, the London Stock Exchange’s news service, and complies with UK regulatory requirements.
NewContract
06:09
Open Terminal ↗ RNS Source
93 Strong Beat
IPF
International Personal Finance PLC
Positive
2025 Final Results and Accounts
**Summary of International Personal Finance Plcs 2025 Final Results and Accounts** **Overview** International Personal Finance (IPF) reported strong financial and strategic progress for the year ended 31 December 2025, driven by robust operational delivery and its Next Gen strategy. The Group achieved pre-exceptional profit before tax of £88.6 million (2024: £85.2 million), supported by increased customer numbers, lending growth, and improved credit quality. A final dividend of 9.0 pence per share was proposed, bringing the full-year dividend to 12.8 pence per share. **Key Financial Highlights** - **Customer Growth**: Customer numbers increased by 4.7% to 1.7 million, marking the first year of growth in a decade. - **Lending and Receivables**: Customer lending grew by 11.8% to £1,342.0 million, and closing net receivables increased by 13.9% to £1,061.3 million. - **Credit Quality**: The impairment rate improved to 9.0% (2024: 9.6%), reflecting robust customer repayment performance. - **Dividend**: A 12.5% increase in the final dividend to 9.0 pence per share, with a full-year dividend of 12.8 pence per share. **Strategic Progress** - **Next Gen Strategy**: Significant advancements in product expansion, digital capabilities, and operational efficiency. - **Product Innovation**: Launched ProviSmart credit cards in Poland and a pilot in Romania, expanded retail partnerships, and introduced short-term loan products in Mexico and Poland. - **Geographic Expansion**: Opened new branches in Monterrey and Ensenada, Mexico. - **Technology and Data**: Invested £35.2 million in technology to enhance customer experience, automation, and data-driven decision-making. **Proposed Acquisition by BasePoint** The Board recommended a proposed acquisition by IPF Parent Holdings Limited (BasePoint) at an increased offer value of 250 pence per share, inclusive of a 15 pence per share special dividend. This represents a 40% premium to the closing price on 29 July 2025. **CEO Commentary** Gerard Ryan, CEO, highlighted the Groups accelerated growth and strategic execution, emphasizing improved customer demand, disciplined operations, and strong credit quality. He noted the Groups strong funding position and commitment to financial inclusion. **Outlook** IPF expects to sustain growth momentum in 2026, supported by robust credit quality, a strong balance sheet, and continued investment in key markets like Mexico and Australia. An additional £5 million per annum will be invested in new initiatives over the next two to three years to drive medium-term performance. **Financial Review** - **Divisional Performance**: Provident Europe, Provident Mexico, and IPF Digital all delivered strong growth in customer lending and receivables. - **Revenue and Costs**: Revenue yield decreased slightly to 52.5%, while the cost-income ratio remained stable at 61.1%. - **Returns**: Pre-exceptional RoRE moderated to 14.9%, reflecting investments in growth initiatives. **Regulatory Update** IPF continues to monitor and adapt to regulatory changes, particularly the implementation of the second Consumer Credit Directive (CCD II) across European markets. **Conclusion** IPFs 2025 results reflect strong operational and financial performance, underpinned by strategic initiatives and a focus on financial inclusion. The proposed acquisition by BasePoint marks a significant milestone, offering shareholders attractive value. The Group remains well-positioned for sustainable growth and continued progress toward its long-term goals.
**Summary of International Personal Finance Plcs 2025 Final Results and Accounts**
**Overview**
International Personal Finance (IPF) reported strong financial and strategic progress for the year ended 31 December 2025, driven by robust operational delivery and its Next Gen strategy. The Group achieved pre-exceptional profit before tax of £88.6 million (2024: £85.2 million), supported by increased customer numbers, lending growth, and improved credit quality. A final dividend of 9.0 pence per share was proposed, bringing the full-year dividend to 12.8 pence per share.
**Key Financial Highlights**
**Customer Growth**Customer numbers increased by 4.7% to 1.7 million, marking the first year of growth in a decade.
**Lending and Receivables**Customer lending grew by 11.8% to £1,342.0 million, and closing net receivables increased by 13.9% to £1,061.3 million.
**Credit Quality**The impairment rate improved to 9.0% (2024: 9.6%), reflecting robust customer repayment performance.
**Dividend**A 12.5% increase in the final dividend to 9.0 pence per share, with a full-year dividend of 12.8 pence per share.
**Strategic Progress**
**Next Gen Strategy**Significant advancements in product expansion, digital capabilities, and operational efficiency.
**Product Innovation**Launched ProviSmart credit cards in Poland and a pilot in Romania, expanded retail partnerships, and introduced short-term loan products in Mexico and Poland.
**Geographic Expansion**Opened new branches in Monterrey and Ensenada, Mexico.
**Technology and Data**Invested £35.2 million in technology to enhance customer experience, automation, and data-driven decision-making.
**Proposed Acquisition by BasePoint**
The Board recommended a proposed acquisition by IPF Parent Holdings Limited (BasePoint) at an increased offer value of 250 pence per share, inclusive of a 15 pence per share special dividend. This represents a 40% premium to the closing price on 29 July 2025.
**CEO Commentary**
Gerard Ryan, CEO, highlighted the Groups accelerated growth and strategic execution, emphasizing improved customer demand, disciplined operations, and strong credit quality. He noted the Groups strong funding position and commitment to financial inclusion.
**Outlook**
IPF expects to sustain growth momentum in 2026, supported by robust credit quality, a strong balance sheet, and continued investment in key markets like Mexico and Australia. An additional £5 million per annum will be invested in new initiatives over the next two to three years to drive medium-term performance.
**Financial Review**
**Divisional Performance**Provident Europe, Provident Mexico, and IPF Digital all delivered strong growth in customer lending and receivables.
**Revenue and Costs**Revenue yield decreased slightly to 52.5%, while the cost-income ratio remained stable at 61.1%.
**Returns**Pre-exceptional RoRE moderated to 14.9%, reflecting investments in growth initiatives.
**Regulatory Update**
IPF continues to monitor and adapt to regulatory changes, particularly the implementation of the second Consumer Credit Directive (CCD II) across European markets.
**Conclusion**
IPFs 2025 results reflect strong operational and financial performance, underpinned by strategic initiatives and a focus on financial inclusion. The proposed acquisition by BasePoint marks a significant milestone, offering shareholders attractive value. The Group remains well-positioned for sustainable growth and continued progress toward its long-term goals.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY-25 (£m)FY-24 (£m)YoY Change (£m)YoY Change (%)
Customer numbers (000s)1,7291,652774.7%
Customer lending (£m)1,342.01,214.5127.510.5%
Closing net receivables (£m)1,061.3870.0191.322.0%
Pre-exceptional PBT (£m)88.685.23.44.0%
Statutory PBT (£m)85.373.312.016.4%
Full-year dividend per share (pence)12.811.41.412.3%
TNAV per share (£)2.141.870.2714.4%
Revenue (£m)737.5726.311.21.5%
Impairment (£m)(126.8)(127.5)0.70.5%
Interest expense (£m)(71.3)(70.4)(0.9)(1.3%)
Total debt facilities (£m)750656.993.114.2%
Net borrowings (£m)621515.9105.120.4%
Equity to receivables ratio (%)51%54%(3%)(5.6%)
**Notes:** * The table includes key financial metrics and debt-related figures for FY-25 and FY-24. * The YoY Change columns show the difference between FY-25 and FY-24 values. * The percentage changes are calculated based on the FY-24 values. * Debt-related figures are derived from the "Funding and balance sheet" section of the provided text. * The equity to receivables ratio is calculated as Total Equity / Amounts receivable from customers.
06:06
Open Terminal ↗ RNS Source
80 Positive
TRCS
Tracsis Plc
Positive
Trading Update and North American Contract Win
**Summary:** Tracsis PLC, a leading transport technology provider, released a trading update for the six months ended 31 January 2026 (H1 FY26), highlighting the following key points: 1. **Financial Performance**: H1 FY26 revenue is expected to be approximately £39 million (up from £36.3 million in H1 FY25), with adjusted EBITDA of around £5.0 million (up from £3.8 million in H1 FY25). This performance is in line with market expectations for the full year. 2. **Strategic Progress**: The company continues to make progress against its strategic priorities, with revenue and margin growth in both divisions. Recurring license and consumer-driven transactional revenues also saw growth. 3. **North American Contract Win**: Tracsis secured a new multi-year contract with a shortline freight railroad in North America to deploy its Train Dispatch software product. This win validates the competitiveness of their offering in the North American market and supports international diversification efforts. 4. **Balance Sheet and Cash Generation**: The company maintains a strong balance sheet with healthy cash generation, reporting net cash of £25.8 million at H1 FY26 (up from £22.1 million in H1 FY25). 5. **Full-Year Expectations**: The Board reiterates its expectations to deliver revenue and adjusted EBITDA in line with market expectations for the full year. The H1/H2 phasing of revenue is expected to follow historical trends, supported by recurring revenues, consumer-driven transactional revenues, and a significant confirmed orderbook. 6. **CEO Commentary**: David Frost, CEO of Tracsis, expressed satisfaction with the H1 performance and highlighted the strategic importance of the North American contract win. He emphasized the companys alignment with long-term structural trends in the transport sector and its focus on executing its growth transformation strategy. Overall, Tracsis remains well-positioned for long-term growth, supported by its robust financial performance, strategic contract wins, and alignment with industry trends.
**Summary**
Tracsis PLC, a leading transport technology provider, released a trading update for the six months ended 31 January 2026 (H1 FY26), highlighting the following key points
1. **Financial Performance**H1 FY26 revenue is expected to be approximately £39 million (up from £36.3 million in H1 FY25), with adjusted EBITDA of around £5.0 million (up from £3.8 million in H1 FY25). This performance is in line with market expectations for the full year.
2. **Strategic Progress**The company continues to make progress against its strategic priorities, with revenue and margin growth in both divisions. Recurring license and consumer-driven transactional revenues also saw growth.
3. **North American Contract Win**Tracsis secured a new multi-year contract with a shortline freight railroad in North America to deploy its Train Dispatch software product. This win validates the competitiveness of their offering in the North American market and supports international diversification efforts.
4. **Balance Sheet and Cash Generation**The company maintains a strong balance sheet with healthy cash generation, reporting net cash of £25.8 million at H1 FY26 (up from £22.1 million in H1 FY25).
5. **Full-Year Expectations**The Board reiterates its expectations to deliver revenue and adjusted EBITDA in line with market expectations for the full year. The H1/H2 phasing of revenue is expected to follow historical trends, supported by recurring revenues, consumer-driven transactional revenues, and a significant confirmed orderbook.
6. **CEO Commentary**David Frost, CEO of Tracsis, expressed satisfaction with the H1 performance and highlighted the strategic importance of the North American contract win. He emphasized the companys alignment with long-term structural trends in the transport sector and its focus on executing its growth transformation strategy.
Overall, Tracsis remains well-positioned for long-term growth, supported by its robust financial performance, strategic contract wins, and alignment with industry trends.
NewContract
06:01
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80 Positive
GSK
GSK plc
Positive
GSK enters agreement to acquire 35Pharma
**Summary:** GSK plc announced on February 25, 2026, that it has entered into an agreement to acquire 35Pharma Inc., a Canadian clinical-stage biopharmaceutical company, for $950 million in cash. The acquisition includes HS235, a potentially best-in-class activin signaling inhibitor in clinical development for treating cardiopulmonary diseases, particularly pulmonary hypertension (PH). HS235 offers a differentiated profile by reducing the risk of bleeding and providing metabolic benefits, addressing key limitations of current PH therapies. The drug has completed Phase I trials and is set to begin studies in pulmonary arterial hypertension (PAH) and PH due to heart failure with preserved ejection fraction (PH-HFpEF). PH affects approximately 82 million people globally, with limited treatment options and a five-year survival rate of around 50%. The global PH therapies market is projected to reach $18 billion by 2032, with activin signaling inhibitors expected to account for 50%. HS235’s mechanism targets the activin receptor pathway, reducing adverse events associated with current treatments, and offers additional metabolic benefits such as fat-selective weight loss and improved insulin sensitivity. The acquisition strengthens GSK’s Respiratory, Immunology, and Inflammation (RI&I) portfolio, providing scalable opportunities to address metabolic, inflammatory, vascular, and fibrotic drivers of chronic diseases affecting the lung, liver, and kidney. The transaction is subject to regulatory approvals in the US and Canada and is expected to close pending customary conditions.
**Summary**
GSK plc announced on February 25, 2026, that it has entered into an agreement to acquire 35Pharma Inc., a Canadian clinical-stage biopharmaceutical company, for $950 million in cash. The acquisition includes HS235, a potentially best-in-class activin signaling inhibitor in clinical development for treating cardiopulmonary diseases, particularly pulmonary hypertension (PH). HS235 offers a differentiated profile by reducing the risk of bleeding and providing metabolic benefits, addressing key limitations of current PH therapies. The drug has completed Phase I trials and is set to begin studies in pulmonary arterial hypertension (PAH) and PH due to heart failure with preserved ejection fraction (PH-HFpEF).
PH affects approximately 82 million people globally, with limited treatment options and a five-year survival rate of around 50%. The global PH therapies market is projected to reach $18 billion by 2032, with activin signaling inhibitors expected to account for 50%. HS235’s mechanism targets the activin receptor pathway, reducing adverse events associated with current treatments, and offers additional metabolic benefits such as fat-selective weight loss and improved insulin sensitivity.
The acquisition strengthens GSK’s Respiratory, Immunology, and Inflammation (RI&I) portfolio, providing scalable opportunities to address metabolic, inflammatory, vascular, and fibrotic drivers of chronic diseases affecting the lung, liver, and kidney. The transaction is subject to regulatory approvals in the US and Canada and is expected to close pending customary conditions.
Agreement
06:01
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93 Strong Beat
MGNS
Morgan Sindall Group PLC
Positive
Results for the Full Year ended 31 December 2025
**Summary of Morgan Sindall Group PLCs Final Results for the Year Ended 31 December 2025** Morgan Sindall Group PLC reported a strong performance for the full year ended 31 December 2025, with significant growth in adjusted profit before tax, up 35% to £233 million. The Group achieved record revenue of £5.0 billion, a 10% increase from the previous year, driven by robust performance across its divisions. Key highlights include: - **Financial Performance**: Adjusted operating profit rose by 39% to £225.7 million, with a margin expansion to 4.6%. Earnings per share (adjusted) increased by 33% to 370.0p. The Group maintained a strong balance sheet with net cash of £531 million, up from £492 million in 2024. - **Dividend Growth**: The full-year dividend was increased by 20% to 158p per share, reflecting the Groups strong financial position and confidence in future prospects. - **Secured Order Book**: The Group entered 2026 with a record secured order book of £12.0 billion, up 5%, and preferred bidder work increased by 17% to £19.1 billion. This includes significant growth in the Partnerships division, with a 29% increase in its order book to £11.5 billion. - **Divisional Performance**: - **Partnership Housing**: Revenue grew by 5% to £903 million, with operating profit up 16% to £42.0 million, despite challenges in the private housing market. - **Fit Out**: Delivered exceptional performance with a 37% revenue increase to £1.78 billion and a 41% rise in operating profit to £139.9 million. - **Construction**: Revenue increased by 11% to £1.16 billion, with operating profit up 20% to £37.0 million. - **Infrastructure**: Revenue declined by 11% to £935 million, but operating profit remained stable at £37.2 million, with a margin expansion to 4.0%. - **Sustainability Leadership**: The Group retained its MSCI AAA rating for ESG performance and achieved a CDP A- rating for climate leadership. It remains on track to meet its science-based carbon reduction targets. - **Strategic Progress**: The Group increased medium-term targets for the Mixed Use Partnerships and Infrastructure divisions, reflecting improved market positions and future prospects. - **Outlook**: Despite headwinds in the housing market, the Group remains positive for 2026 and expects to deliver results in line with revised expectations. The focus remains on long-term sustainable growth, supported by a strong balance sheet and disciplined capital allocation. Overall, Morgan Sindall Group PLC demonstrated resilience and growth in 2025, with a strong financial performance, strategic progress, and continued leadership in sustainability, positioning the Group well for future opportunities.
**Summary of Morgan Sindall Group PLCs Final Results for the Year Ended 31 December 2025**
Morgan Sindall Group PLC reported a strong performance for the full year ended 31 December 2025, with significant growth in adjusted profit before tax, up 35% to £233 million. The Group achieved record revenue of £5.0 billion, a 10% increase from the previous year, driven by robust performance across its divisions. Key highlights include
**Financial Performance**Adjusted operating profit rose by 39% to £225.7 million, with a margin expansion to 4.6%. Earnings per share (adjusted) increased by 33% to 370.0p. The Group maintained a strong balance sheet with net cash of £531 million, up from £492 million in 2024.
**Dividend Growth**The full-year dividend was increased by 20% to 158p per share, reflecting the Groups strong financial position and confidence in future prospects.
**Secured Order Book**The Group entered 2026 with a record secured order book of £12.0 billion, up 5%, and preferred bidder work increased by 17% to £19.1 billion. This includes significant growth in the Partnerships division, with a 29% increase in its order book to £11.5 billion.
**Divisional Performance**
**Partnership Housing**Revenue grew by 5% to £903 million, with operating profit up 16% to £42.0 million, despite challenges in the private housing market.
**Fit Out**Delivered exceptional performance with a 37% revenue increase to £1.78 billion and a 41% rise in operating profit to £139.9 million.
**Construction**Revenue increased by 11% to £1.16 billion, with operating profit up 20% to £37.0 million.
**Infrastructure**Revenue declined by 11% to £935 million, but operating profit remained stable at £37.2 million, with a margin expansion to 4.0%.
**Sustainability Leadership**The Group retained its MSCI AAA rating for ESG performance and achieved a CDP A- rating for climate leadership. It remains on track to meet its science-based carbon reduction targets.
**Strategic Progress**The Group increased medium-term targets for the Mixed Use Partnerships and Infrastructure divisions, reflecting improved market positions and future prospects.
**Outlook**Despite headwinds in the housing market, the Group remains positive for 2026 and expects to deliver results in line with revised expectations. The focus remains on long-term sustainable growth, supported by a strong balance sheet and disciplined capital allocation.
Overall, Morgan Sindall Group PLC demonstrated resilience and growth in 2025, with a strong financial performance, strategic progress, and continued leadership in sustainability, positioning the Group well for future opportunities.
Here is the HTML table code comparing the financials and debt year on year for Morgan Sindall Group PLC: td>+35%
MetricFY 2025 (£m)FY 2024 (£m)Change
Revenue5,0194,546+10%
Operating profit - adjusted225.7162.6+39%
Profit before tax - adjusted232.6172.5
Year end net cash531492+£39m
Net finance income6.99.9-£3m
Operating cash flow195.9134.8+£61.1m
Free cash flow161.5107.0+£54.5m
Total dividend per share (p)158.0131.5+20%

Key Observations:

  • Revenue increased by 10% year-on-year, driven by strong performance across divisions.
  • Adjusted profit before tax grew by 35%, reflecting improved margins and operational efficiency.
  • Net cash position strengthened by £39m, despite increased investment in partnerships and working capital.
  • Net finance income decreased by £3m, primarily due to lower interest income on bank deposits.
  • Operating and free cash flows improved significantly, supporting the increased dividend payout.
This table provides a concise comparison of key financial metrics and debt-related figures for Morgan Sindall Group PLC between FY 2025 and FY 2024. The observations highlight the company's strong financial performance, improved cash flows, and strengthened balance sheet.
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93 Strong Beat
HMSO
Hammerson PLC
Positive
Final Results
**Hammerson PLC Final Results for the Year Ended 31 December 2025: Summary** **Overview** Hammerson PLC, a leading investor and manager of prime retail-led city destinations in the UK, France, and Ireland, reported strong full-year results for 2025, highlighting significant growth in net rental income, earnings, dividends, and net tangible assets (NTA). The company is well-positioned for continued growth in FY26 and beyond, driven by active asset management, record leasing activity, and strategic acquisitions. **Key Highlights** 1. **Financial Performance**: - Total net rental income increased by 23% to £180 million, with like-for-like growth of 3%. - Portfolio value rose by 33% to £3.5 billion, supported by acquisitions, ERV growth, and yield compression. - EPRA earnings grew by 5% to £104 million, with EPS up 4% to 20.7p. - IFRS profit of £232 million, compared to a £526 million loss in FY24, driven by EPRA earnings and a £120 million net revaluation gain. - Final dividend increased by 6% to 8.56p, with a full-year dividend of 16.50p (up 6%). 2. **Operational Strength**: - Record leasing of £51 million, up 18% like-for-like, with positive spreads and high demand for prime space. - Occupancy improved by 1 percentage point to 96%, with six out of ten flagship destinations at least 98% occupied. - Footfall increased by 3 million to 170 million visitors, outperforming national retail benchmarks. 3. **Strategic Investments**: - Invested £757 million in key assets (Westquay, Brent Cross, Bullring, Grand Central, and The Oracle) since November 2024 at an average yield of 7.6%. - Completed repositioning at Cabot Circus and The Oracle, with Cergy 3 repositioning expected to open in H1 2027, fully pre-let to Primark and Nike. 4. **Balance Sheet and Capital Structure**: - Sustainable balance sheet with a loan-to-value (LTV) ratio of 39% and net debt:EBITDA of 8.1x. - Credit rating upgrades from Fitch (A-) and Moodys (Baa2 with positive outlook). - Successful equity raise and bond issuance to support acquisitions and growth. 5. **Outlook**: - FY26 guidance: 20% growth in net rental income, 15% growth in EPRA earnings, and 10% growth in EPRA EPS. - High visibility of long-term income streams, with further growth expected in FY27 and beyond. **CEO Commentary** Rob Wilkinson, Chief Executive, emphasized the company’s focus on active asset management, targeted leasing, and the success of its prime retail destinations. He highlighted the company’s strong position for future growth, driven by its integrated platform and high-quality portfolio. **Conclusion** Hammerson’s FY25 results demonstrate robust financial and operational performance, underpinned by strategic investments and effective asset management. The company is poised for continued growth, with a clear focus on enhancing shareholder value through increased rental income, earnings, and dividends.
**Hammerson PLC Final Results for the Year Ended 31 December 2025: Summary**
**Overview**
Hammerson PLC, a leading investor and manager of prime retail-led city destinations in the UK, France, and Ireland, reported strong full-year results for 2025, highlighting significant growth in net rental income, earnings, dividends, and net tangible assets (NTA). The company is well-positioned for continued growth in FY26 and beyond, driven by active asset management, record leasing activity, and strategic acquisitions.
**Key Highlights**
1. **Financial Performance**
Total net rental income increased by 23% to £180 million, with like-for-like growth of 3%.
Portfolio value rose by 33% to £3.5 billion, supported by acquisitions, ERV growth, and yield compression.
EPRA earnings grew by 5% to £104 million, with EPS up 4% to 20.7p.
IFRS profit of £232 million, compared to a £526 million loss in FY24, driven by EPRA earnings and a £120 million net revaluation gain.
Final dividend increased by 6% to 8.56p, with a full-year dividend of 16.50p (up 6%).
2. **Operational Strength**
Record leasing of £51 million, up 18% like-for-like, with positive spreads and high demand for prime space.
Occupancy improved by 1 percentage point to 96%, with six out of ten flagship destinations at least 98% occupied.
Footfall increased by 3 million to 170 million visitors, outperforming national retail benchmarks.
3. **Strategic Investments**
Invested £757 million in key assets (Westquay, Brent Cross, Bullring, Grand Central, and The Oracle) since November 2024 at an average yield of 7.6%.
Completed repositioning at Cabot Circus and The Oracle, with Cergy 3 repositioning expected to open in H1 2027, fully pre-let to Primark and Nike.
4. **Balance Sheet and Capital Structure**
Sustainable balance sheet with a loan-to-value (LTV) ratio of 39% and net debt:EBITDA of 8.1x.
Credit rating upgrades from Fitch (A-) and Moodys (Baa2 with positive outlook).
Successful equity raise and bond issuance to support acquisitions and growth.
5. **Outlook**
FY26 guidance20% growth in net rental income, 15% growth in EPRA earnings, and 10% growth in EPRA EPS.
High visibility of long-term income streams, with further growth expected in FY27 and beyond.
**CEO Commentary**
Rob Wilkinson, Chief Executive, emphasized the company’s focus on active asset management, targeted leasing, and the success of its prime retail destinations. He highlighted the company’s strong position for future growth, driven by its integrated platform and high-quality portfolio.
**Conclusion**
Hammerson’s FY25 results demonstrate robust financial and operational performance, underpinned by strategic investments and effective asset management. The company is poised for continued growth, with a clear focus on enhancing shareholder value through increased rental income, earnings, and dividends.
Below is an HTML table comparing the financials and debt metrics year-on-year for Hammerson PLC based on the provided text:
Metric20242025Change
Net Rental Income (£m)£146m£180m+23%
Like-for-like Net Rental Income Change-0.5%+2.6%+3.1%
EPRA Earnings (£m)£99m£104m+5%
Net Revaluation Gains/Losses (£m)-£91m+£120m+£211m
Profit/(Loss) for the Period (IFRS) (£m)-£526m+£232m+£758m
Net Debt (£m)£799m£1,370m+71%
Loan to Value (LTV)30%39%+9%
Net Debt:EBITDA (rolling 12 months)5.8x9.5x+64%
Portfolio Value (£m)£2,659m£3,549m+33%
EPRA NTA per Share (£)£3.70£3.94+6%
Dividend per Share for the Year (p)15.63p16.50p+6%
### Key Highlights from the Table: 1. **Net Rental Income**: Increased by 23% from £146m in 2024 to £180m in 2025. 2. **EPRA Earnings**: Grew by 5% from £99m to £104m. 3. **Net Debt**: Rose significantly by 71% from £799m to £1,370m. 4. **Loan to Value (LTV)**: Increased from 30% to 39%. 5. **Portfolio Value**: Expanded by 33% from £2,659m to £3,549m. 6. **EPRA NTA per Share**: Improved by 6% from £3.70 to £3.94. 7. **Dividend per Share**: Increased by 6% from 15.63p to 16.50p. This table provides a clear comparison of key financial and debt metrics between 2024 and 2025 for Hammerson PLC.
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GLB
Glanbia plc
Positive
Glanbia Full Year 2025 Results
**Summary of Glanbia Full Year 2025 Results** Glanbia plc, the Better Nutrition company, reported robust financial results for the 2025 fiscal year, ending January 3, 2026. Key highlights include: - **Revenue Growth**: Revenue increased by 2.3% to $3.9 billion, driven by like-for-like (LFL) growth across all three segments: Performance Nutrition (PN), Health & Nutrition (H&N), and Dairy Nutrition (DN). - **EBITDA Decline**: EBITDA decreased by 9.4% to $499.1 million, primarily due to record whey input costs affecting the PN segment. - **Adjusted EPS**: Adjusted earnings per share (EPS) declined by 3.4% to 134.93 cents, while basic EPS increased by 19.7% to 73.16 cents. - **Segment Performance**: - **Performance Nutrition**: LFL revenue growth of 4.5%, with Optimum Nutrition achieving 6.4% growth. EBITDA margin declined to 13.0% due to high whey costs. - **Health & Nutrition**: LFL revenue growth of 6.8%, with strong volume growth. EBITDA margin improved to 18.4%. - **Dairy Nutrition**: LFL volume growth of 4.2%, with EBITDA of $149.5 million. - **Capital Allocation**: - Recommended a final dividend of 25.67 €cent, bringing the total 2025 dividend to 42.87 €cent, a 10% increase. - Returned €197 million to shareholders via share buybacks and approved an additional €100 million buyback for 2026. - **Strategic Updates**: - Sold non-core brands SlimFast and Body & Fit. - Acquired Sweetmix and Scicore to enhance global scale in H&N. - Continued a group-wide transformation program targeting $60 million in annual cost savings by 2027. - **2026 Outlook**: - Expects adjusted EPS growth of 7% to 11% and operating cash conversion of 85%+. - Segmental performance is expected to align with medium-term targets. CEO Hugh McGuire emphasized the Groups resilience despite macroeconomic challenges, highlighting strong cash flow, strategic acquisitions, and progress on cost-saving initiatives. Glanbia remains focused on its medium-term targets, positioning itself as a leader in better nutrition.
**Summary of Glanbia Full Year 2025 Results**
Glanbia plc, the Better Nutrition company, reported robust financial results for the 2025 fiscal year, ending January 3, 2026. Key highlights include
**Revenue Growth**Revenue increased by 2.3% to $3.9 billion, driven by like-for-like (LFL) growth across all three segments: Performance Nutrition (PN), Health & Nutrition (H&N), and Dairy Nutrition (DN).
**EBITDA Decline**EBITDA decreased by 9.4% to $499.1 million, primarily due to record whey input costs affecting the PN segment.
**Adjusted EPS**Adjusted earnings per share (EPS) declined by 3.4% to 134.93 cents, while basic EPS increased by 19.7% to 73.16 cents.
**Segment Performance**
**Performance Nutrition**LFL revenue growth of 4.5%, with Optimum Nutrition achieving 6.4% growth. EBITDA margin declined to 13.0% due to high whey costs.
**Health & Nutrition**LFL revenue growth of 6.8%, with strong volume growth. EBITDA margin improved to 18.4%.
**Dairy Nutrition**LFL volume growth of 4.2%, with EBITDA of $149.5 million.
**Capital Allocation**
Recommended a final dividend of 25.67 €cent, bringing the total 2025 dividend to 42.87 €cent, a 10% increase.
Returned €197 million to shareholders via share buybacks and approved an additional €100 million buyback for 2026.
**Strategic Updates**
Sold non-core brands SlimFast and Body & Fit.
Acquired Sweetmix and Scicore to enhance global scale in H&N.
Continued a group-wide transformation program targeting $60 million in annual cost savings by 2027.
**2026 Outlook**
Expects adjusted EPS growth of 7% to 11% and operating cash conversion of 85%+.
Segmental performance is expected to align with medium-term targets.
CEO Hugh McGuire emphasized the Groups resilience despite macroeconomic challenges, highlighting strong cash flow, strategic acquisitions, and progress on cost-saving initiatives. Glanbia remains focused on its medium-term targets, positioning itself as a leader in better nutrition.
Here is the comparison of Glanbia's financials and debt year on year, presented as an HTML table:
Metric2025 ($m)2024 ($m)Change (%)
Revenue3,946.43,839.72.8%
EBITDA499.1551.3-9.5%
EBITDA Margin12.6%14.4%-180bps
Adjusted EPS ($cent)134.93140.03-3.6%
Basic EPS ($cent)73.1663.2115.7%
Net Debt526.0436.020.6%
Net Debt to Adjusted EBITDA1.08x0.81x33.3% increase

Key Observations:

  • Revenue increased by 2.8% year-on-year, driven by volume and pricing growth across all segments.
  • EBITDA declined by 9.5% due to elevated input costs, particularly in Performance Nutrition.
  • Net debt increased by 20.6%, resulting in a higher net debt to adjusted EBITDA ratio of 1.08 times compared to 0.81 times in 2024.
This table provides a concise comparison of key financial metrics and debt levels between 2025 and 2024, highlighting the changes and trends in Glanbia's financial performance.
06:01
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93 Strong Beat
AFC
AFC Energy plc
Positive
Final Audited Results
AFC Energy Plc, a leading provider of ammonia-based low-carbon hydrogen production and hydrogen-to-power solutions, has released its final audited results for the financial year ended 31 October 2025. The company reported significant strategic and operational progress, with a focus on commercial deployment of its proprietary technology to create shareholder value. **Key Highlights:** 1. **Financial Performance**: * Loss after tax of £22.2 million, including an increase in non-cash expenditure of £8.4 million. * £25.3 million in cash, cash equivalents, and short-term investments at year-end, with current cash of £20.4 million as of 31 January 2026. * £27.5 million successful oversubscribed placing to support development ambitions. 2. **Operational Achievements**: * Launch of the LC30 fuel cell generator, offering 85% lower cost, 20% more efficiency, and a substantially smaller footprint. * Progress on the Hy-5 ammonia cracker, capable of producing 500kg/day of hydrogen, targeting sales at £10/kg. * Strategic partnerships with Volex Plc for manufacturing and Industrial Chemicals Group Limited for low-cost bulk hydrogen production. * Joint Development Agreements (JDAs) with S&P 500 and Komatsu Ltd partners for decentralized ammonia-to-hydrogen crackers. 3. **Strategic Focus**: * Shift towards commercial viability without government subsidies, targeting low-cost hydrogen power at scale. * Establishment of a Project Management Office and commercial function to streamline operations and drive growth. * Reorganization with reduced headcount and footprint, resulting in annualized savings of £1.5 million. 4. **Post-Period Developments**: * UK Environment Agency permit approval for hydrogen production from the pilot ammonia cracker, enabling revenue generation 3-4 months ahead of schedule. * Joint Development Agreement with Komatsu Ltd for ammonia-fueled engine platform development. 5. **Business Priorities**: * Commercialization of LC30 and Hy-5 units, with a focus on pre-orders and Fuel as a Service (FaaS) offerings. * Expansion into North American and European markets, with a refined go-to-market strategy. * Continued development of fuel cell generators and crackers, with a focus on productization and patent applications. **CEOs Statement**: John Wilson, Chief Executive Officer, emphasized the companys strategic reset, focusing on commercial viability and shareholder value creation. He highlighted the successful fundraising, cost-cutting measures, and technology validation through partnerships. Wilson expressed optimism for 2026, expecting sustained revenue growth and conversion of opportunities into contractual orders. **Chairmans Statement**: The Chairman acknowledged the significant positive changes, including the appointment of a new executive team and strategic refocus. He praised the teams resilience and determination, positioning AFC Energy for a central role in the global transition to zero-emission power. **Financial Review**: The financial review detailed the companys commercial pivot, development costs, and cash management. It highlighted the impact of strategic decisions on financial performance, including inventory write-downs and provisions for expected credit losses. **Outlook**: AFC Energy remains well-positioned for 2026, with building commercial momentum and a growing pipeline of opportunities. The company aims to convert these opportunities into contractual orders, driving sustained revenue growth and shareholder value creation. In summary, AFC Energys final audited results showcase significant progress in its strategic and operational goals, with a clear focus on commercial viability, technology development, and market expansion. The companys leadership expresses confidence in its ability to capitalize on the growing hydrogen economy and deliver long-term value to shareholders.
AFC Energy Plc, a leading provider of ammonia-based low-carbon hydrogen production and hydrogen-to-power solutions, has released its final audited results for the financial year ended 31 October 2025. The company reported significant strategic and operational progress, with a focus on commercial deployment of its proprietary technology to create shareholder value.
**Key Highlights**
1. **Financial Performance**
* Loss after tax of £22.2 million, including an increase in non-cash expenditure of £8.4 million.
* £25.3 million in cash, cash equivalents, and short-term investments at year-end, with current cash of £20.4 million as of 31 January 2026.
* £27.5 million successful oversubscribed placing to support development ambitions.
2. **Operational Achievements**
* Launch of the LC30 fuel cell generator, offering 85% lower cost, 20% more efficiency, and a substantially smaller footprint.
* Progress on the Hy-5 ammonia cracker, capable of producing 500kg/day of hydrogen, targeting sales at £10/kg.
* Strategic partnerships with Volex Plc for manufacturing and Industrial Chemicals Group Limited for low-cost bulk hydrogen production.
* Joint Development Agreements (JDAs) with S&P 500 and Komatsu Ltd partners for decentralized ammonia-to-hydrogen crackers.
3. **Strategic Focus**
* Shift towards commercial viability without government subsidies, targeting low-cost hydrogen power at scale.
* Establishment of a Project Management Office and commercial function to streamline operations and drive growth.
* Reorganization with reduced headcount and footprint, resulting in annualized savings of £1.5 million.
4. **Post-Period Developments**
* UK Environment Agency permit approval for hydrogen production from the pilot ammonia cracker, enabling revenue generation 3-4 months ahead of schedule.
* Joint Development Agreement with Komatsu Ltd for ammonia-fueled engine platform development.
5. **Business Priorities**
* Commercialization of LC30 and Hy-5 units, with a focus on pre-orders and Fuel as a Service (FaaS) offerings.
* Expansion into North American and European markets, with a refined go-to-market strategy.
* Continued development of fuel cell generators and crackers, with a focus on productization and patent applications.
**CEOs Statement**
John Wilson, Chief Executive Officer, emphasized the companys strategic reset, focusing on commercial viability and shareholder value creation. He highlighted the successful fundraising, cost-cutting measures, and technology validation through partnerships. Wilson expressed optimism for 2026, expecting sustained revenue growth and conversion of opportunities into contractual orders.
**Chairmans Statement**
The Chairman acknowledged the significant positive changes, including the appointment of a new executive team and strategic refocus. He praised the teams resilience and determination, positioning AFC Energy for a central role in the global transition to zero-emission power.
**Financial Review**
The financial review detailed the companys commercial pivot, development costs, and cash management. It highlighted the impact of strategic decisions on financial performance, including inventory write-downs and provisions for expected credit losses.
**Outlook**
AFC Energy remains well-positioned for 2026, with building commercial momentum and a growing pipeline of opportunities. The company aims to convert these opportunities into contractual orders, driving sustained revenue growth and shareholder value creation.
In summary, AFC Energys final audited results showcase significant progress in its strategic and operational goals, with a clear focus on commercial viability, technology development, and market expansion. The companys leadership expresses confidence in its ability to capitalize on the growing hydrogen economy and deliver long-term value to shareholders.
Here is a comparison of AFC Energy Plc's financials and debt year on year, presented as an HTML table:
AFC Energy Plc Financials and Debt Comparison (Year on Year)
MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue1254,002(3,877)(96.9%)
Loss After Tax(22,195)(17,419)(4,776)27.4%
Cash and Cash Equivalents25,31715,3749,94364.7%
Total Debt (Lease Liabilities)160664(504)(75.9%)
R&D Investment11,7029,5122,19023.0%
Trade and Other Receivables1,9236,737(4,814)(71.5%)
Trade and Other Payables5,6304,95567513.6%
**Key Observations:** 1. **Revenue Decline:** Revenue decreased significantly by 96.9% from FY24 to FY25, primarily due to the company's strategic decision to discontinue manufacturing and selling the AR2 units. 2. **Increased Loss:** The loss after tax increased by 27.4%, driven by non-cash items such as inventory write-downs and provisions for expected credit losses. 3. **Improved Cash Position:** Cash and cash equivalents increased by 64.7%, mainly due to the successful £27.5 million fundraising in July 2025. 4. **Reduced Debt:** Total debt (represented by lease liabilities) decreased by 75.9%, indicating a stronger balance sheet. 5. **Higher R&D Investment:** R&D investment increased by 23.0%, reflecting the company's focus on developing new products like the LC30 fuel cell generator and Hy-5 ammonia cracker. 6. **Working Capital Changes:** Trade and other receivables decreased significantly, while trade and other payables increased moderately, reflecting changes in the company's operational focus and strategic priorities. This table provides a concise comparison of key financial metrics, highlighting the significant changes and trends in AFC Energy Plc's financial performance and position between FY24 and FY25.
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80 Positive
FMET
Fulcrum Metals PLC
Positive
Bonus Warrant Acceleration Offer Closed
**Summary:** Fulcrum Metals PLC (AIM: FMET) announced the closure of its Bonus Warrant Acceleration Offer, which raised £834,575 through the exercise of 16,691,495 warrants. The funds will strengthen the companys financial position and support ongoing work across its tailings projects, including pilot scoping studies, mineral resource estimates, and production scenario evaluations. An additional 1,458,335 warrants were issued as part of the offer extension, exercisable at 10 pence per share until August 20, 2027. The company also issued 927,045 new ordinary shares to service providers in settlement of fees totaling £98,250. Admission of the new shares to the AIM market is expected around March 2, 2026, increasing the total issued share capital to 142,130,752 ordinary shares. CEO Ryan Mee expressed gratitude to participating warrant holders and highlighted upcoming updates on the pilot scoping study and assay results from the Teck-Hughes and Sylvanite projects. Fulcrum Metals remains focused on environmentally friendly precious metal recovery from mine tailings in Canada, leveraging its exclusive technology license.
**Summary**
Fulcrum Metals PLC (AIMFMET) announced the closure of its Bonus Warrant Acceleration Offer, which raised £834,575 through the exercise of 16,691,495 warrants. The funds will strengthen the companys financial position and support ongoing work across its tailings projects, including pilot scoping studies, mineral resource estimates, and production scenario evaluations. An additional 1,458,335 warrants were issued as part of the offer extension, exercisable at 10 pence per share until August 20, 2027. The company also issued 927,045 new ordinary shares to service providers in settlement of fees totaling £98,250. Admission of the new shares to the AIM market is expected around March 2, 2026, increasing the total issued share capital to 142,130,752 ordinary shares. CEO Ryan Mee expressed gratitude to participating warrant holders and highlighted upcoming updates on the pilot scoping study and assay results from the Teck-Hughes and Sylvanite projects. Fulcrum Metals remains focused on environmentally friendly precious metal recovery from mine tailings in Canada, leveraging its exclusive technology license.
Offers
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93 Strong Beat
SHC
Shaftesbury Capital PLC
Positive
Final Results
**Summary of Shaftesbury Capital PLCs Final Results for the Year Ended 31 December 2025** Shaftesbury Capital PLC, a leading central London mixed-use REIT, reported strong financial and operational performance for the year ended 31 December 2025. The company delivered growth in rental income, earnings, dividends, property valuation, and net tangible assets per share, highlighting its resilience and strategic focus in the dynamic London West End market. **Key Highlights:** 1. **Financial Performance:** - **EPRA NTA** increased by 7.2% to 214.7 pence per share, delivering a total accounting return of 9.1%. - **Portfolio valuation** grew by 6.6% like-for-like to £5.4 billion, supported by a 6.2% increase in ERV to £270 million. - **Underlying earnings** improved by 12% to 4.5 pence per share, and **dividends** increased by 14% to 4.0 pence per share. - **Leasing transactions** totaled 434, representing £39 million in contracted rent, 10.3% ahead of December 2024 ERV. 2. **Operational Strength:** - **High occupancy** with only 2.6% of ERV available to let, and strong footfall and customer sales in 2026. - **Portfolio investment** of £113.3 million in capital expenditure and acquisitions, enhancing asset management and rental growth opportunities. - **Strategic partnership** with Norges Bank Investment Management (NBIM) for the Covent Garden estate, underlining the portfolios quality and long-term appeal. 3. **Portfolio and Market Position:** - **West End estates** continue to perform well, with vibrant destinations supported by high occupancy, footfall, and customer sales. - **Leasing demand** remains robust, with prime West End locations highly sought after by global brands. - **Active asset management** and curation ensure the portfolio remains distinctive and well-positioned to capture customer demand. 4. **Sustainability and Community Engagement:** - **Sustainability strategy** focuses on future-proofing heritage buildings and creating sustainable, healthy places. - **Progress towards 2030 carbon reduction targets** and a reset Net Zero Carbon target to 2040. - **Active community engagement** with initiatives supporting local employment and community cohesion. 5. **Financial Position and Outlook:** - **Strong balance sheet** with enhanced liquidity and low leverage, positioning the company for growth and investment. - **Medium-term target** of 5-7% rental growth, supporting total property returns of 7-9% and total accounting returns of 8-10% per annum. - **Confidence in sustained long-term growth** in rental income, earnings, dividends, and property valuation. **Conclusion:** Shaftesbury Capital PLC demonstrated robust performance in 2025, driven by its prime West End portfolio, strategic partnerships, and active asset management. The company is well-positioned for future growth, with a strong balance sheet, enhanced liquidity, and a clear focus on sustainability and community engagement. The outlook remains positive, with strong fundamentals supporting continued rental growth and value creation.
**Summary of Shaftesbury Capital PLCs Final Results for the Year Ended 31 December 2025**
Shaftesbury Capital PLC, a leading central London mixed-use REIT, reported strong financial and operational performance for the year ended 31 December 2025. The company delivered growth in rental income, earnings, dividends, property valuation, and net tangible assets per share, highlighting its resilience and strategic focus in the dynamic London West End market.
**Key Highlights**
1. **Financial Performance**
**EPRA NTA** increased by 7.2% to 214.7 pence per share, delivering a total accounting return of 9.1%.
**Portfolio valuation** grew by 6.6% like-for-like to £5.4 billion, supported by a 6.2% increase in ERV to £270 million.
**Underlying earnings** improved by 12% to 4.5 pence per share, and **dividends** increased by 14% to 4.0 pence per share.
**Leasing transactions** totaled 434, representing £39 million in contracted rent, 10.3% ahead of December 2024 ERV.
2. **Operational Strength**
**High occupancy** with only 2.6% of ERV available to let, and strong footfall and customer sales in 2026.
**Portfolio investment** of £113.3 million in capital expenditure and acquisitions, enhancing asset management and rental growth opportunities.
**Strategic partnership** with Norges Bank Investment Management (NBIM) for the Covent Garden estate, underlining the portfolios quality and long-term appeal.
3. **Portfolio and Market Position**
**West End estates** continue to perform well, with vibrant destinations supported by high occupancy, footfall, and customer sales.
**Leasing demand** remains robust, with prime West End locations highly sought after by global brands.
**Active asset management** and curation ensure the portfolio remains distinctive and well-positioned to capture customer demand.
4. **Sustainability and Community Engagement:**
**Sustainability strategy** focuses on future-proofing heritage buildings and creating sustainable, healthy places.
**Progress towards 2030 carbon reduction targets** and a reset Net Zero Carbon target to 2040.
**Active community engagement** with initiatives supporting local employment and community cohesion.
5. **Financial Position and Outlook**
**Strong balance sheet** with enhanced liquidity and low leverage, positioning the company for growth and investment.
**Medium-term target** of 5-7% rental growth, supporting total property returns of 7-9% and total accounting returns of 8-10% per annum.
**Confidence in sustained long-term growth** in rental income, earnings, dividends, and property valuation.
**Conclusion**
Shaftesbury Capital PLC demonstrated robust performance in 2025, driven by its prime West End portfolio, strategic partnerships, and active asset management. The company is well-positioned for future growth, with a strong balance sheet, enhanced liquidity, and a clear focus on sustainability and community engagement. The outlook remains positive, with strong fundamentals supporting continued rental growth and value creation.
Here is a comparison of Shaftesbury Capital PLC's financials and debt year on year, presented as an HTML table:
Metric20252024Change
Total Equity Attributable to Owners of the Parent (£m)3,954.23,674.3+7.6%
IFRS Total Equity per Share (pence)214.6200.4+7.1%
EPRA Net Tangible Assets (£m)3,954.93,671.1+7.7%
EPRA Net Tangible Assets per Share (pence)214.7200.2+7.2%
Market Value of Property Portfolio Under Management (£m)5,407.14,973.5+8.7%
Like-for-like Property Valuation Movement+6.6%+4.5%+2.1%
Net Debt (£m)813.31,405.0-42.1%
EPRA LTV16.8%27.4%-10.6%
Net Debt to EBITDA6.6x10.9x-4.3x
Profit for the Year Attributable to Owners of the Parent (£m)340.2252.1+34.9%
Underlying Earnings per Share (pence)4.54.0+12.5%
Dividend per Share (pence)4.03.5+14.3%
**Key Observations:** - **Equity and Net Assets:** Shaftesbury Capital PLC experienced a significant increase in total equity and net assets, with EPRA Net Tangible Assets per Share growing by 7.2%. - **Property Portfolio:** The market value of the property portfolio under management increased by 8.7%, driven by a 6.6% like-for-like property valuation movement. - **Debt:** Net debt decreased substantially by 42.1%, leading to a reduction in EPRA LTV and Net Debt to EBITDA ratios. - **Profitability and Earnings:** Profit for the year attributable to owners of the parent increased by 34.9%, while underlying earnings per share and dividend per share also grew. This table provides a concise overview of Shaftesbury Capital PLC's financial and debt position, highlighting key improvements and changes year on year.
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88 Trading Edge
STAR
Star Energy Group Plc
Positive
Trading Update
**Summary:** Star Energy Group PLC released a trading update for the year ended 31 December 2025, highlighting key achievements and future plans. The company achieved significant cost reductions, including £2.0 million in G&A savings and a £1.2 million decrease in geothermal expenditure, while maintaining progress on high-value geothermal projects. Net production averaged 1,886 boe/d in 2025, with expectations to rise to 2,000 boe/d in 2026, supported by a flexible capital program. Strong liquidity was maintained with £7.6 million in cash and active balance sheet management. Non-core asset sales generated £6.3 million, and £5.3 million was invested in oil and gas assets, including the Singleton gas-to-wire project. Hedging strategies yielded a £1.2 million gain, and the company paid £1.7 million in Energy Profits Levy. CEO Ross Glover emphasized rigorous capital deployment, operational resilience, and the strategic importance of domestic onshore oil and gas in the UKs energy mix. The company is also exploring value-accretive acquisitions to leverage UK tax losses and enhance shareholder returns. A fuller update is expected in April with the annual results release.
**Summary**
Star Energy Group PLC released a trading update for the year ended 31 December 2025, highlighting key achievements and future plans. The company achieved significant cost reductions, including £2.0 million in G&A savings and a £1.2 million decrease in geothermal expenditure, while maintaining progress on high-value geothermal projects. Net production averaged 1,886 boe/d in 2025, with expectations to rise to 2,000 boe/d in 2026, supported by a flexible capital program. Strong liquidity was maintained with £7.6 million in cash and active balance sheet management. Non-core asset sales generated £6.3 million, and £5.3 million was invested in oil and gas assets, including the Singleton gas-to-wire project. Hedging strategies yielded a £1.2 million gain, and the company paid £1.7 million in Energy Profits Levy. CEO Ross Glover emphasized rigorous capital deployment, operational resilience, and the strategic importance of domestic onshore oil and gas in the UKs energy mix. The company is also exploring value-accretive acquisitions to leverage UK tax losses and enhance shareholder returns. A fuller update is expected in April with the annual results release.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
G&A SavingsN/A£2.0 millionN/A
Geothermal ExpenditureN/A£1.2 million (reduction)-£1.2 million
Net Production (boe/d)N/A1,886N/A
Cash (excl. restricted)N/A£7.6 millionN/A
Loan Facility DrawnN/A£11.9 million (€13.6 million)N/A
Restricted CashN/A£4.5 million (€5.2 million)N/A
Non-Core Asset Sale ProceedsN/A£6.3 millionN/A
Investment in Oil & Gas AssetsN/A£5.3 millionN/A
Abandonment Activities SpendN/A£1.4 millionN/A
Capex Forecast (2026)N/A£6.3 millionN/A
Oil Hedging GainN/A£1.2 millionN/A
Energy Profits Levy (2023)£1.0 millionN/AN/A
Energy Profits Levy (2024)N/A£1.7 million+£0.7 million
### Notes: 1. **2024 Data**: Some metrics for 2024 were not explicitly provided in the text, so they are marked as "N/A". 2. **Changes**: Where applicable, changes between years are indicated. 3. **Formatting**: The table is structured with headers for clarity and includes borders for better readability. This table summarizes the key financial and operational metrics year-on-year based on the provided trading update.
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93 Strong Beat
AVG
Avingtrans Plc
Positive
Interim Results
**Summary of Avingtrans PLC Interim Results for the Six Months Ended 30 November 2025** **Financial Highlights:** - **Revenue:** Flat at £78.1 million (H1 2025: £79.0 million), in line with management expectations. - **Gross Margin:** Increased to 31.7% (H1 2025: 30.0%) due to improved aftermarket (AM) mix in the AES division. - **Adjusted EBITDA:** Grew by 10.4% to £9.6 million (H1 2025: £8.7 million), driven by reduced losses in the Medical and Industrial Imaging (MII) division. - **Adjusted Profit Before Tax:** Rose by 27.1% to £5.7 million (H1 2025: £4.5 million). - **Adjusted Diluted Earnings Per Share:** Increased to 14.6p (H1 2025: 12.0p). - **Cash Flow:** Stronger operating cash inflow of £7.6 million (H1 2025: £4.9 million). - **Net Debt:** Unchanged at £12.3 million, despite ongoing investments in Medical Imaging and new nuclear technology. - **Interim Dividend:** Increased to 2.0 pence per share (H1 2025: 1.9 pence). **Operational Highlights:** - **Advanced Engineering Systems (AES) Division:** - Revenue slightly lower at £75.2 million (H1 2025: £76.8 million), with a focus on H2 weighting. - Strong performance by Hayward Tyler, driven by global growth in data centers and electrification of transport, particularly new nuclear power. - Hayward Tyler secured $16.0 million in new nuclear contracts with KHNP of South Korea. - Ormandy benefited from growth in AI and data center infrastructure. - Booth won £8.5 million in contracts with HS2 and TfL. - Recovery at Slack and Parr continues, though impacted by US tariffs. - **Medical and Industrial Imaging (MII) Division:** - Revenue increased by 33.0% to £2.9 million (H1 2025: £2.2 million) as product rollout gains momentum. - LBITDA loss reduced to £0.8 million (H1 2025: £1.7 million loss). - Adaptix received 510(k) approval from the US FDA, enabling orthopaedic system sales. - Magnetica expects to submit 510(k) approval in H2 2026. - SciMag saw increased orders for quantum computing-related systems. **Current Trading & Outlook:** - AES order book secured to achieve 95%+ of FY26 market expectations, providing strong visibility. - Increased global energy demand, driven by AI and data centers, is creating opportunities for AES businesses. - MII is entering a key phase with Adaptix sales ramping up and Magnetica regulatory approval expected in H2 2026. - The Board is confident about achieving market expectations for FY26. **Chairman’s Statement:** - Strong H1 performance from AES primes the Group for full-year expectations. - MII sales are building momentum, particularly with Adaptix’s 510(k) approval enabling US sales. - Continued investment in AES and MII, with a focus on maximizing shareholder value through the PIE (Pinpoint-Invest-Exit) strategy. - Prudent debt management and strategic M&A opportunities remain key priorities. **Strategic Focus:** - AES division focuses on nuclear, thermal, and hydrocarbon markets, with a strong aftermarket emphasis. - MII division targets compact MRI and 3D X-ray solutions for niche markets. - Ongoing commitment to sustainability, innovation, and operational efficiency. **Conclusion:** Avingtrans PLC delivered a robust H1 performance, with strategic investments and operational improvements positioning the Group for continued growth. The Board remains confident in achieving FY26 targets and long-term value creation.
**Summary of Avingtrans PLC Interim Results for the Six Months Ended 30 November 2025**
**Financial Highlights**
**Revenue** Flat at £78.1 million (H1 2025: £79.0 million), in line with management expectations.
**Gross Margin** Increased to 31.7% (H1 2025: 30.0%) due to improved aftermarket (AM) mix in the AES division.
**Adjusted EBITDA** Grew by 10.4% to £9.6 million (H1 2025: £8.7 million), driven by reduced losses in the Medical and Industrial Imaging (MII) division.
**Adjusted Profit Before Tax** Rose by 27.1% to £5.7 million (H1 2025: £4.5 million).
**Adjusted Diluted Earnings Per Share** Increased to 14.6p (H1 2025: 12.0p).
**Cash Flow** Stronger operating cash inflow of £7.6 million (H1 2025: £4.9 million).
**Net Debt** Unchanged at £12.3 million, despite ongoing investments in Medical Imaging and new nuclear technology.
**Interim Dividend** Increased to 2.0 pence per share (H1 2025: 1.9 pence).
**Operational Highlights**
**Advanced Engineering Systems (AES) Division:**
Revenue slightly lower at £75.2 million (H1 2025: £76.8 million), with a focus on H2 weighting.
Strong performance by Hayward Tyler, driven by global growth in data centers and electrification of transport, particularly new nuclear power.
Hayward Tyler secured $16.0 million in new nuclear contracts with KHNP of South Korea.
Ormandy benefited from growth in AI and data center infrastructure.
Booth won £8.5 million in contracts with HS2 and TfL.
Recovery at Slack and Parr continuesthough impacted by US tariffs.
**Medical and Industrial Imaging (MII) Division:**
Revenue increased by 33.0% to £2.9 million (H1 2025: £2.2 million) as product rollout gains momentum.
LBITDA loss reduced to £0.8 million (H1 2025: £1.7 million loss).
Adaptix received 510(k) approval from the US FDA, enabling orthopaedic system sales.
Magnetica expects to submit 510(k) approval in H2 2026.
SciMag saw increased orders for quantum computing-related systems.
**Current Trading & Outlook**
AES order book secured to achieve 95%+ of FY26 market expectations, providing strong visibility.
Increased global energy demand, driven by AI and data centers, is creating opportunities for AES businesses.
MII is entering a key phase with Adaptix sales ramping up and Magnetica regulatory approval expected in H2 2026.
The Board is confident about achieving market expectations for FY26.
**Chairman’s Statement**
Strong H1 performance from AES primes the Group for full-year expectations.
MII sales are building momentum, particularly with Adaptix’s 510(k) approval enabling US sales.
Continued investment in AES and MII, with a focus on maximizing shareholder value through the PIE (Pinpoint-Invest-Exit) strategy.
Prudent debt management and strategic M&A opportunities remain key priorities.
**Strategic Focus**
AES division focuses on nuclearthermaland hydrocarbon marketswith a strong aftermarket emphasis.
MII division targets compact MRI and 3D X-ray solutions for niche markets.
Ongoing commitment to sustainabilityinnovationand operational efficiency.
**Conclusion**
Avingtrans PLC delivered a robust H1 performance, with strategic investments and operational improvements positioning the Group for continued growth. The Board remains confident in achieving FY26 targets and long-term value creation.
Here’s an HTML table comparing the financials and debt year on year for Avingtrans PLC based on the provided text:
MetricH1 2025 (£'000)H1 2024 (£'000)Change
Revenue78,10379,017-1.16%
Gross Profit24,76923,717+4.44%
Adjusted EBITDA9,6008,700+10.34%
Adjusted Profit Before Tax5,7004,500+26.67%
Cash Inflow from Operating Activities7,6004,900+55.10%
Net Debt (excl. IFRS16)12,30012,3000.00%
Interim Dividend (pence per share)2.01.9+5.26%
### Explanation: 1. **Revenue**: Slightly decreased by 1.16% from £79.0m in H1 2024 to £78.1m in H1 2025. 2. **Gross Profit**: Increased by 4.44% from £23.7m to £24.8m. 3. **Adjusted EBITDA**: Increased by 10.34% from £8.7m to £9.6m. 4. **Adjusted Profit Before Tax**: Increased by 26.67% from £4.5m to £5.7m. 5. **Cash Inflow from Operating Activities**: Increased by 55.10% from £4.9m to £7.6m. 6. **Net Debt (excl. IFRS16)**: Remained unchanged at £12.3m. 7. **Interim Dividend**: Increased by 5.26% from 1.9 pence to 2.0 pence per share. This table provides a clear year-on-year comparison of key financial metrics and debt for Avingtrans PLC.
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80 Positive
CAPD
Capital Drilling Ltd
Positive
Contracts Update
**Summary:** Capital Limited (LSE: CAPD), a leading mining services company, announced significant contract developments across its drilling, mining, and laboratory operations on February 25, 2026. Key highlights include: 1. **Waste Stripping Contract at Sukari Gold Mine**: An 18-month contract with AngloGold Ashanti in Egypt, utilizing existing and newly purchased equipment, starting Q1 2026. 2. **Grade Control Drilling Contract with Montage Gold**: A 5-year contract at the Koné Gold Project in Côte dIvoire, with mobilization beginning in Q2 2026. 3. **MSALABS Laboratory Contract with Equinox Gold**: A 5-year contract for the Valentine Project in Newfoundland, Canada, supporting the construction of a new commercial laboratory with PhotonAssayTM technology. Additional recent awards include MSALABS contracts with Montage Gold, IAMGOLD, and the construction of a second laboratory in Côte dIvoire. The company also secured smaller contract extensions and additions across its drilling and laboratory services. Executive Chairman Jamie Boyton emphasized the strong demand environment and the strategic deployment of recently raised funds to support growth. Further details, including 2026 guidance, will be provided during the FY2025 results announcement on March 19, 2026. Capital Limited operates globally, offering drilling, mining, maintenance, and geochemical laboratory services across multiple countries. This update was released via RNS, the London Stock Exchanges news service.
**Summary**
Capital Limited (LSECAPD), a leading mining services company, announced significant contract developments across its drilling, mining, and laboratory operations on February 25, 2026. Key highlights include
1. **Waste Stripping Contract at Sukari Gold Mine**: An 18-month contract with AngloGold Ashanti in Egypt, utilizing existing and newly purchased equipment, starting Q1 2026.
2. **Grade Control Drilling Contract with Montage Gold**: A 5-year contract at the Koné Gold Project in Côte dIvoire, with mobilization beginning in Q2 2026.
3. **MSALABS Laboratory Contract with Equinox Gold**: A 5-year contract for the Valentine Project in Newfoundland, Canada, supporting the construction of a new commercial laboratory with PhotonAssayTM technology.
Additional recent awards include MSALABS contracts with Montage Gold, IAMGOLD, and the construction of a second laboratory in Côte dIvoire. The company also secured smaller contract extensions and additions across its drilling and laboratory services.
Executive Chairman Jamie Boyton emphasized the strong demand environment and the strategic deployment of recently raised funds to support growth. Further details, including 2026 guidance, will be provided during the FY2025 results announcement on March 19, 2026.
Capital Limited operates globally, offering drilling, mining, maintenance, and geochemical laboratory services across multiple countries. This update was released via RNS, the London Stock Exchanges news service.
NewContract
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93 Strong Beat
HSBA
HSBC Holdings PLC
Positive
HSBC Holdings 2025 Results
**Summary of HSBC Holdings 2025 Results** HSBC Holdings PLC reported strong financial performance for 2025, marked by decisive actions and strategic execution across its four core businesses: Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB). **Key Highlights:** - **Financial Performance:** Reported profit before tax decreased slightly to $29.9 billion, primarily due to notable items. However, constant currency profit before tax excluding notable items rose to $36.6 billion, driven by strong performances in Wealth and Wholesale Transaction Banking. - **Revenue Growth:** Revenue increased by 4% to $68.3 billion, with constant currency revenue excluding notable items rising to $71.0 billion. This growth was led by fee and other income in Wealth and Wholesale Transaction Banking. - **Return on Tangible Equity (RoTE):** RoTE was 13.3%, and excluding notable items, it increased to 17.2%, surpassing the mid-teens target. - **Strategic Targets:** HSBC raised its ambition, targeting a 17% RoTE or better from 2026 to 2028, excluding notable items, and year-on-year revenue growth, rising to 5% in 2028. - **Dividends and Shareholder Returns:** The Board approved a fourth interim dividend of $0.45 per share, bringing the total dividend for 2025 to $0.75 per share. Total shareholder return exceeded 57%, including a 49% increase in share price. - **Operational Efficiency:** HSBC achieved $1.5 billion in organizational simplification savings, six months ahead of schedule, and is targeting further cost reallocation to support growth. - **Sustainability:** HSBC remains committed to becoming a net-zero bank by 2050 and provided $102 billion in sustainable finance and investment in 2025, on track to meet its $750 billion to $1 trillion target by 2030. - **Leadership Changes:** Brendan Nelson succeeded Sir Mark Tucker as Group Chairman, and Wei Sun Christianson joined as an independent non-executive Director. **Outlook:** HSBC anticipates global economic expansion in 2026, supported by trade growth and AI-driven investments. The bank expects banking net interest income of at least $45 billion, ECL charges around 40 bps, and target basis operating expense growth of approximately 1%. HSBC is committed to maintaining its CET1 capital ratio within the 14%-14.5% range and sustaining its dividend payout ratio at 50%. **Strategic Focus:** - **Simplification and Agility:** HSBC continues to streamline its operations, aiming for a simpler, more agile structure to enhance customer responsiveness. - **Growth Investments:** The bank is investing in technology, wealth management, and digital innovation to drive growth and improve customer experiences. - **Sustainability Leadership:** HSBC is actively supporting customers transition to net zero and expanding its sustainable finance offerings. Overall, HSBCs 2025 results reflect robust performance, strategic discipline, and a clear focus on sustainable growth, positioning the bank well for future opportunities in a dynamic global environment.
**Summary of HSBC Holdings 2025 Results**
HSBC Holdings PLC reported strong financial performance for 2025, marked by decisive actions and strategic execution across its four core businesses: Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB).
**Key Highlights**
**Financial Performance** Reported profit before tax decreased slightly to $29.9 billion, primarily due to notable items. However, constant currency profit before tax excluding notable items rose to $36.6 billion, driven by strong performances in Wealth and Wholesale Transaction Banking.
**Revenue Growth** Revenue increased by 4% to $68.3 billion, with constant currency revenue excluding notable items rising to $71.0 billion. This growth was led by fee and other income in Wealth and Wholesale Transaction Banking.
**Return on Tangible Equity (RoTE)** RoTE was 13.3%, and excluding notable items, it increased to 17.2%, surpassing the mid-teens target.
**Strategic Targets** HSBC raised its ambition, targeting a 17% RoTE or better from 2026 to 2028, excluding notable items, and year-on-year revenue growth, rising to 5% in 2028.
**Dividends and Shareholder Returns** The Board approved a fourth interim dividend of $0.45 per share, bringing the total dividend for 2025 to $0.75 per share. Total shareholder return exceeded 57%, including a 49% increase in share price.
**Operational Efficiency** HSBC achieved $1.5 billion in organizational simplification savings, six months ahead of schedule, and is targeting further cost reallocation to support growth.
**Sustainability** HSBC remains committed to becoming a net-zero bank by 2050 and provided $102 billion in sustainable finance and investment in 2025, on track to meet its $750 billion to $1 trillion target by 2030.
**Leadership Changes** Brendan Nelson succeeded Sir Mark Tucker as Group Chairman, and Wei Sun Christianson joined as an independent non-executive Director.
**Outlook**
HSBC anticipates global economic expansion in 2026, supported by trade growth and AI-driven investments. The bank expects banking net interest income of at least $45 billion, ECL charges around 40 bps, and target basis operating expense growth of approximately 1%. HSBC is committed to maintaining its CET1 capital ratio within the 14%-14.5% range and sustaining its dividend payout ratio at 50%.
**Strategic Focus**
**Simplification and Agility** HSBC continues to streamline its operations, aiming for a simpler, more agile structure to enhance customer responsiveness.
**Growth Investments** The bank is investing in technology, wealth management, and digital innovation to drive growth and improve customer experiences.
**Sustainability Leadership** HSBC is actively supporting customers transition to net zero and expanding its sustainable finance offerings.
Overall, HSBCs 2025 results reflect robust performance, strategic discipline, and a clear focus on sustainable growth, positioning the bank well for future opportunities in a dynamic global environment.
Here is the HTML table code comparing the financials and debt year on year for HSBC Holdings based on the provided text:
Metric20252024Change
Profit before tax ($m)29,90732,309(7%)
Profit after tax ($m)23,13124,999(7%)
Revenue ($m)68,27465,8544%
Net interest income ($m)34,79432,7336%
Customer lending balances ($m)988,399930,6586%
Customer accounts ($m)1,786,8281,654,9558%
Common equity tier 1 capital ratio (%)14.914.90%
Total regulatory capital ($m)182,371172,3866%
Risk-weighted assets ($m)888,647838,2546%
Leverage ratio (%)5.35.6(5%)
**Notes:** * The table compares key financials and debt metrics for HSBC Holdings between 2025 and 2024. * The "Change" column shows the percentage change between the two years. * The data is extracted from the provided text, which is HSBC Holdings' 2025 Results announcement. * The table focuses on the most relevant metrics for comparing financials and debt year on year. This table provides a concise overview of HSBC Holdings' financial and debt performance, highlighting areas of growth and decline between 2025 and 2024.
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87FZ
AECI Ltd
Positive
Reviewed condensed consolidated financial results and cash dividend declaration for the year ended 31 December 2025
**Summary of AECI Limiteds Financial Results for the Year Ended 31 December 2025** AECI Limited reported strong financial and operational performance for the year ended 31 December 2025, driven by disciplined pricing, cost management, and strategic focus on core fundamentals. Key highlights include: 1. **Financial Performance**: - Revenue from continuing operations declined by 4% to R32.183 billion, while EBITDA increased by 12% to R3.412 billion. - Profit from continuing operations dipped slightly by 1% to R1.530 billion, but earnings per share (EPS) from continuing operations rose by 36% to 357 cents per share (cps), and headline earnings per share (HEPS) surged by 53% to 1,098 cps. - Net debt significantly reduced from R3.738 billion in 2024 to R465 million, with gearing dropping to 4% from 31%. 2. **Dividend Declaration**: - A final cash dividend of 128 cps was declared, bringing the total dividend for the year to 228 cps, compared to 219 cps in 2024. 3. **Segment Performance**: - **AECI Mining**: Delivered a record EBITDA of R2.722 billion (up from R2.284 billion in 2024), with margins improving to 15%, driven by cost-efficiency initiatives and favorable product mix in Asia-Pacific. - **AECI Chemicals**: Revenue increased to R10.306 billion, but EBITDA declined to R924 million due to pricing pressures and credit losses. However, free cash flow generation was strong at 133%. 4. **Strategic Achievements**: - Realized R2.2 billion from the disposal of non-core assets. - Improved safety performance, with a 35% reduction in the Total Recordable Injury Rate (TRIR) to 0.20, and no fatalities reported. 5. **Management Commentary**: - The Interim Group CEO highlighted the Group’s progress in strengthening its long-term position, particularly the outstanding performance of AECI Mining and AECI Chemicals. 6. **Future Outlook**: - AECI remains committed to delivering long-term value for stakeholders by focusing on strategic fundamentals and leveraging core competencies. The full reviewed condensed consolidated financial results are available on the JSE cloud link and the Company’s website. The Board confirmed compliance with JSE Listings Requirements, and the results were reviewed by Deloitte & Touche with an unmodified conclusion.
**Summary of AECI Limiteds Financial Results for the Year Ended 31 December 2025**
AECI Limited reported strong financial and operational performance for the year ended 31 December 2025, driven by disciplined pricing, cost management, and strategic focus on core fundamentals. Key highlights include
1. **Financial Performance**
Revenue from continuing operations declined by 4% to R32.183 billion, while EBITDA increased by 12% to R3.412 billion.
Profit from continuing operations dipped slightly by 1% to R1.530 billion, but earnings per share (EPS) from continuing operations rose by 36% to 357 cents per share (cps), and headline earnings per share (HEPS) surged by 53% to 1,098 cps.
Net debt significantly reduced from R3.738 billion in 2024 to R465 million, with gearing dropping to 4% from 31%.
2. **Dividend Declaration**
A final cash dividend of 128 cps was declared, bringing the total dividend for the year to 228 cps, compared to 219 cps in 2024.
3. **Segment Performance**
**AECI Mining**Delivered a record EBITDA of R2.722 billion (up from R2.284 billion in 2024), with margins improving to 15%, driven by cost-efficiency initiatives and favorable product mix in Asia-Pacific.
**AECI Chemicals**Revenue increased to R10.306 billion, but EBITDA declined to R924 million due to pricing pressures and credit losses. However, free cash flow generation was strong at 133%.
4. **Strategic Achievements**
Realized R2.2 billion from the disposal of non-core assets.
Improved safety performance, with a 35% reduction in the Total Recordable Injury Rate (TRIR) to 0.20, and no fatalities reported.
5. **Management Commentary**
The Interim Group CEO highlighted the Group’s progress in strengthening its long-term position, particularly the outstanding performance of AECI Mining and AECI Chemicals.
6. **Future Outlook**
AECI remains committed to delivering long-term value for stakeholders by focusing on strategic fundamentals and leveraging core competencies.
The full reviewed condensed consolidated financial results are available on the JSE cloud link and the Company’s website. The Board confirmed compliance with JSE Listings Requirements, and the results were reviewed by Deloitte & Touche with an unmodified conclusion.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
Revenue from Continuing Operations (R million)33,54632,183-4%
EBITDA from Continuing Operations (R million)3,0463,412+12%
Profit from Continuing Operations (R million)1,5451,530-1%
EPS from Continuing Operations (cps)262357+36%
HEPS (cps)7181,098+53%
Total Dividend (cps)219228+4%
Net Debt (R million)3,738465-87%
Gearing Ratio (%)31%4%-27%
Net Debt to EBITDA (times)1.20.1-92%
AECI Mining EBITDA (R million)2,2842,722+19%
AECI Chemicals EBITDA (R million)972924-5%
AECI Chemicals Free Cash Flow (R million)9171,233+34%
### Explanation: - **Metrics**: Key financial and debt metrics are compared year-on-year (2024 vs. 2025). - **Change**: Percentage change is calculated based on the provided data. - **Formatting**: The table is styled with borders and alignment for readability. This table provides a clear comparison of the financial and debt performance of AECI Limited between 2024 and 2025.
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Form 8.3

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MNG
MNG M&G Plc
13:10
Market

Form 8.3 - BEAZLEY PLC

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MNG
MNG M&G Plc
13:10
Market

Form 8.3 - SPIRE HEALTHCARE GROUP PLC

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OXA6
OXA6 OXA6
13:08
Market

Buy-Back of Securities

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SGE
SGE Sage Group PLC
13:07
Market

Admission to Trading

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ESYS
ESYS Essensys PLC
13:07
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['IG Markets Limited', '0.000000', '0.000000']
Open Terminal Source RNS
SOLG
SOLG SolGold PLC
13:06
Market

Form 8.3

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BARC
BARC Barclays PLC
13:05
Market

Form 8.3 JUST GROUP PLC

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MER
MER Mears Group plc
13:04
Market

Board appointment

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JUST
JUST Just Group plc
13:04
Market

Form 8.3

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JTC
JTC JTC PLC
13:03
Market

Form 8.3

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IPF
IPF International Personal Fina…
13:02
Market

Form 8.3

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OXA2
OXA2 OXA2
12:55
Market

Issuance of Securities

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LIO
LIO Liontrust Asset Management
12:29
Market

Form 8.3 - ESSENSYS

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PI43
PI43 PI43
12:10
Market

Report to Shareholders Q1 2026

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0UKI
0UKI Bank of Nova Scotia
12:07
Market

Form 8.3 - JTC plc

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0UKI
0UKI Bank of Nova Scotia
12:05
Market

Form 8.3 - International Personal Finance plc

Open Terminal Source RNS
PI43
PI43 PI43
12:04
Market

Press Release Q1 2026

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0UKI
0UKI Bank of Nova Scotia
11:55
Market

Form 8.3 - Beazley PLC

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SDR
SDR Schroders PLC
11:55
Market

Form 8.3 - Essensys Group PLC

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BNC
BNC Banco Santander S.A.
11:43
Market

Investor Day: Group CEO presentation

Open Terminal Source RNS
BNC
BNC Banco Santander S.A.
11:38
Market

Investor Day: Executive chair presentation

Open Terminal Source RNS
OXB
OXB Oxford BioMedica PLC
11:34
Market

Response to Rule 2.8 Announcement

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BRK
BRK Brooks Macdonald Group
11:31
Market

Form 8.3 - LondonMetric Property plc

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REL
REL Relx PLC
11:29
Market

Additional Listing

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KITW
KITW Kitwave Group PLC
11:28
Market

Form 8.3

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SOLG
SOLG SolGold PLC
11:28
Market

Form 8.3

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IDOX
IDOX IDOX plc
11:24
Market

Form 8.3

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XGDU
XGDU Xtrackers IE Physical Gold …
11:19
Market

Final Terms

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BARC
BARC Barclays PLC
11:16
Market

Form 8.3 WOOD GROUP (JOHN) PLC

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BARC
BARC Barclays PLC
11:16
Market

Form 8.3 SPIRE HEALTHCARE GROUP PLC

Open Terminal Source RNS
BARC
BARC Barclays PLC
11:16
Market

Form 8.3 SOLGOLD PLC

Open Terminal Source RNS
BARC
BARC Barclays PLC
11:15
Market

Form 8.3 NCC GROUP PLC

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BARC
BARC Barclays PLC
11:15
Market

Form 8.3 LIFE SCIENCE REIT PLC

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BARC
BARC Barclays PLC
11:15
Market

Form 8.3 KITWAVE GROUP PLC

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BARC
BARC Barclays PLC
11:15
Market

Form 8.3 JTC PLC

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BARC
BARC Barclays PLC
11:15
Market

Form 8.3 INTERNATIONAL PERSONAL FINANCE PLC

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BARC
BARC Barclays PLC
11:15
Market

Form 8.3 BRITISH LAND COMPANY PLC, THE

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WPP
WPP WPP PLC
11:11
Market

Notification of Major Holdings

TR1 Buy

TR1 Buy
Open Terminal Source RNS
AAU
AAU Ariana Resources plc
11:01
Market

Result of GM

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VIC
VIC Victorian Plumbing Group PLC
11:01
Market

Result of AGM

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NRR
NRR NewRiver REIT plc
10:53
Market

Results of the general meeting

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BARC
BARC Barclays PLC
10:52
Market

Form 8.5 EPT/Non RI BEAZLEY PLC

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XM65
XM65 XM65
10:51
Market

Publication of a Supplementary Prospectus

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ABDN
ABDN Abrdn PLC
10:47
Market

Form 8.3 - Oxford Biomedica plc

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IRSH
IRSH IRSH
10:46
Market

Form 8.3 - Schroders plc

Open Terminal Source RNS
BARC
BARC Barclays PLC
10:44
Market

Form 8.5 EPT/Non RI PICTON PROPERTY INCOME LIMITED

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BARC
BARC Barclays PLC
10:44
Market

Form 8.5 EPT/Non RI CAB PAYMENTS HOLDINGS PLC

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BARC
BARC Barclays PLC
10:44
Market

Form 8.5 EPT/Non RI LONDONMETRIC PROPERTY PLC

Open Terminal Source RNS
BARC
BARC Barclays PLC
10:44
Market

Form 8.5 EPT/Non RI SCHRODERS PLC

Open Terminal Source RNS
IRSH
IRSH IRSH
10:43
Market

Form 8.3 - JTC plc

Open Terminal Source RNS
DSG
DSG Dillistone Group PLC
10:41
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
Open Terminal Source RNS
ABDN
ABDN Abrdn PLC
10:41
Market

Form 8.3 - LondonMetric Property plc

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IRSH
IRSH IRSH
10:41
Market

Form 8.3 - Just Group plc

Open Terminal Source RNS
IRSH
IRSH IRSH
10:40
Market

Form 8.3 - Life Science REIT plc

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IRSH
IRSH IRSH
10:38
Market

Form 8.3 - British Land Company plc

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ABDN
ABDN Abrdn PLC
10:37
Market

Form 8.3 - British Land Co PLC, The

Open Terminal Source RNS
IRSH
IRSH IRSH
10:37
Market

Form 8.3 - Beazley plc

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IRSH
IRSH IRSH
10:33
Market

Form 8.3 - International Personal Finance plc

Open Terminal Source RNS
IRSH
IRSH IRSH
10:30
Market

Form 8.3 - SolGold plc

Open Terminal Source RNS
WG.
WG. WG.
10:28
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
Open Terminal Source RNS
HHPD
HHPD Hon Hai Precision Industry …
10:23
Market

Disposal of Innolux Corporation’s common shares

Open Terminal Source RNS
NCYF
NCYF CQS New City High Yield Fund
10:22
Market

Interim Report for the period ended 31 Dec 2025

Open Terminal Source RNS
AMGO
AMGO Amigo Holdings PLC
10:21
Market

Amigo and Magnus Labs Partner on Robotics Infra

Open Terminal Source RNS
SVS
SVS Savills
10:15
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['FMR LLC', '8.157100', '8.109600']
Open Terminal Source RNS
SDR
SDR Schroders PLC
10:07
Market

Form 8 (OPD) Schroders plc

Open Terminal Source RNS
BME
BME B&M European Value Retail SA
10:01
Market

Publication of a Prospectus - Migration

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LSL
LSL LSL Property Services Plc
10:01
Market

Notification of Major Holdings

TR1 Buy

TR1 Buy
['FMR LLC', '9.999400', '10.001200']
Open Terminal Source RNS
GLDA
GLDA Amundi Physical Gold ETC C
10:00
Market

Amundi Physical Metals plc: UK Final Terms

Open Terminal Source RNS
GLDA
GLDA Amundi Physical Gold ETC C
09:55
Market

Amundi Physical Metals plc: Final Terms

Open Terminal Source RNS
BEZ
BEZ Beazley plc
09:48
Market

Form 8.3

Open Terminal Source RNS
CURY
CURY Currys PLC
09:44
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
Open Terminal Source RNS
RT90
RT90 RT90
09:38
Market

Annual Financial Report

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SMWH
SMWH WH Smith PLC
09:33
Market

Block Listing Six Monthly Return

Open Terminal Source RNS
BEZ
BEZ Beazley plc
09:22
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
Open Terminal Source RNS
GJ03
GJ03 GJ03
09:18
Market

Form 8.5 (EPT/RI) - Oxford Biomedica plc

Open Terminal Source RNS
DO72
DO72 DO72
09:16
Market

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

Open Terminal Source RNS
UBLS
UBLS UBLS
09:15
Market

Final Results

Open Terminal Source RNS
BLND
BLND British Land Company PLC
09:11
Market

Form 8.3

Open Terminal Source RNS
BEZ
BEZ Beazley plc
09:11
Market

Form 8.3

Open Terminal Source RNS
DSG
DSG Dillistone Group PLC
09:10
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
Open Terminal Source RNS
HOC
HOC Hochschild Mining plc
09:08
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
Open Terminal Source RNS
GJ03
GJ03 GJ03
09:05
Market

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

Open Terminal Source RNS
GJ03
GJ03 GJ03
09:02
Market

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

Open Terminal Source RNS
DO72
DO72 DO72
09:01
Market

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

Open Terminal Source RNS
TFIF
TFIF TwentyFour Income Fund Ltd
09:01
Market

Investor Update Presentation

Open Terminal Source RNS
IBST
IBST Ibstock PLC
09:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
Open Terminal Source RNS
DO72
DO72 DO72
08:58
Market

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

Open Terminal Source RNS
CHRT
CHRT Cohort
08:52
Market

Block Listing Six Monthly Return

Open Terminal Source RNS
TST
TST Touchstar plc
08:50
Market

Director/PDMR Shareholding

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

<mark style="background-coloryellow">Purchase</mark> of Ordinary Shares
Open Terminal Source RNS
OTB
OTB On The Beach Group PLC
08:49
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Morgan Stanley', '5.977136', '6.025233']
Open Terminal Source RNS
13GC
13GC 13GC
08:49
Market

Notice of Transfer of Listing

Open Terminal Source RNS
0H7D
0H7D Deutsche Bank AG NA O.N.
08:47
Market

Form 8.5 (EPT/RI) Int Personal Finance plc

Open Terminal Source RNS
0H7D
0H7D Deutsche Bank AG NA O.N.
08:47
Market

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

Open Terminal Source RNS
0H7D
0H7D Deutsche Bank AG NA O.N.
08:46
Market

Form 8.5 (EPT/RI) IQE Plc

Open Terminal Source RNS
USA
USA Baillie Gifford US Growth T…
08:34
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Bank of America Corporation', '3.119707', '2.517370']
Open Terminal Source RNS
BGEU
BGEU Baillie Gifford European Gr…
08:32
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Allspring Global Investments Holdings.', '22.010000', '21.031000']
Open Terminal Source RNS
JUST
JUST Just Group plc
08:29
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['HSBC Holdings plc', '6.352000', 0]
Open Terminal Source RNS
IRSH
IRSH IRSH
08:29
Market

Landsbankinn hf.: Landsbankinn utilises authorisation to repurchase own shares

Open Terminal Source RNS
HKLD
HKLD HONGKONG LAND HLDGS
08:23
Market

Transaction in Own Shares

Open Terminal Source RNS
CCH
CCH Coca Cola HBC AG
08:21
Market

Director/PDMR Shareholding

Open Terminal Source RNS
INVP
INVP Investec PLC
08:17
Market

Form 8.5 (EPT/RI)-NCC Group plc

Open Terminal Source RNS
PINE
PINE Pinewood Technologies Group…
08:16
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
Open Terminal Source RNS
0MGE
0MGE Sydbank
08:14
Market

AL Sydbank leverer et solidt første regnskab

Open Terminal Source RNS
0MGE
0MGE Sydbank
08:14
Market

AL Sydbank delivers strong first financial statements

Open Terminal Source RNS
XM65
XM65 XM65
08:01
Market

2025 Annual Report and Accounts

Open Terminal Source RNS
CRH
CRH CRH PLC
08:01
Market

Transaction in Own Shares

Open Terminal Source RNS
SDR
SDR Schroders PLC
08:00
Market

Form 8.3

Open Terminal Source RNS
48CF
48CF 48CF
07:53
Market

Annual Report and Accounts 2025

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INVP
INVP Investec PLC
07:51
Market

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

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GJ03
GJ03 GJ03
07:44
Market

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

Open Terminal Source RNS
DO72
DO72 DO72
07:40
Market

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

Open Terminal Source RNS
17WI
17WI 17WI
07:36
Market

Pre Stabilisation Notice NAB EUR 7yr Covered

Open Terminal Source RNS
FL78
FL78 FL78
07:10
Market

Issue of HUF denominated domestic public bonds

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BBY
BBY Balfour Beatty plc
07:08
Market

Transaction in Own Shares

Open Terminal Source RNS
HWG
HWG Harworth Group PLC
07:01
Market

Appointment of joint corporate broker

Open Terminal Source RNS
TYT
TYT Toyota Motor Corp
07:01
Market

Shareholder Benefits (Record Date: 31 Mar. 2026)

Open Terminal Source RNS
IGN
IGN AB Ignitis grupe
06:49
Market

Notice of convening the Annual General Meeting of Shareholders of AB “Ignitis grupė”

Open Terminal Source RNS
0Q0J
0Q0J 0Q0J
06:39
Market

Final Terms

Open Terminal Source RNS
IGN
IGN AB Ignitis grupe
06:35
Market

Integrated Annual Report 2025: record strategic progress with +0.7 GW of new green capacities installed, completed mass smart meter roll-out, and Adjusted EBITDA beat

**Summary of AB "Ignitis grupė" Integrated Annual Report 2025** AB "Ignitis grupė" reported strong strategic and financial progress in its 2025 Integrated Annual Report, highlighting record achievements across key areas: 1. **Financi…

**Summary of AB "Ignitis grupė" Integrated Annual Report 2025**
AB "Ignitis grupė" reported strong strategic and financial progress in its 2025 Integrated Annual Report, highlighting record achievements across key areas
1. **Financial Performance**
**Adjusted EBITDA** reached €546.1 million (+3.4% YoY), surpassing the upper end of the guidance range (€510–540 million), driven by robust performance in Green Capacities and Networks segments.
**Investments** totaled €720.3 million (-11.3% YoY), within guidance, with 53.1% allocated to Networks and 39.7% to Green Capacities, focusing on solar, onshore wind, and Kruonis PSHP expansion projects.
**Net Debt** increased to €1,912.0 million (+18.6% YoY) due to continued investments, while **FFO/Net Debt** decreased to 21.0% (from 29.7% in 2024) due to temporary regulatory differences. S&P Global Ratings reaffirmed the ‘BBB+’ credit rating with a stable outlook.
2. **Business Development**
**Green Capacities**Installed capacity grew to 2.1 GW (+0.7 GW), with key projects reaching COD, including Kelmė WF (313.7 MW) in Lithuania and Silesia WF II (136.8 MW) in Poland. Final Investment Decisions were made for three BESS projects in Lithuania.
**Networks**Completed a mass smart meter roll-out with 1.3 million installations. A 10-year (€3.5 billion) Investment Plan was aligned with the regulator (NERC).
**Reserve Capacities**Won Polish capacity mechanism auctions for 381 MW (Q1 2026), 484 MW (Q4 2026), and 148 MW (2030).
**Customers & Solutions**Signed a 7-year PPA with Litgrid at €74.5/MWh for up to 160 GWh/year and expanded EV charging infrastructure with 1,799 charging points (+708 YoY).
3. **Sustainability**
**Green Share of Generation** decreased to 70.2% (-11.3 pp YoY) due to higher electricity generation at Elektrėnai Complex.
**GHG Emissions** rose to 4.49 million t CO2-eq (+10.1% YoY), with Scope 1 emissions increasing by 54.7% YoY due to Elektrėnai Complex operations.
**Carbon Intensity** increased to 248 g CO2-eq/kWh (+24.5% YoY) due to intensified natural gas usage.
Recognized for leadership in corporate transparency and climate action, securing a place on CDP’s Climate A List (top 4% of companies).
4. **Shareholder Returns and 2026 Outlook**
Proposed dividend of €1.366 per share (+3.0% YoY), totaling €98.9 million, representing a 6.2–6.4% yield.
**2026 Guidance**Adjusted EBITDA of €550–600 million and Investments of €590–690 million.
5. **Key Financial Indicators**
Adjusted EBITDA Margin decreased to 21.3% (-1.6 pp YoY).
Net Debt/Adjusted EBITDA increased to 3.50 times (+14.8% YoY).
EPS declined to €2.26 (-40.8% YoY)while DPS rose to €1.37 (+3.0% YoY).
6. **Earnings Call**Scheduled for February 25, 2026, at 1:00 pm Vilnius time, with registration and materials available online.
Overall, 2025 marked significant progress in green energy expansion, network modernization, and strategic investments, despite sustainability and financial metric challenges.
Below is the HTML table code comparing the key financial and debt metrics year-on-year for AB "Ignitis grupė" based on the provided text:
Metric2025 (EUR, millions)2024 (EUR, millions)Change
Adjusted EBITDA546.1527.93.4%
Investments720.3812.0-11.3%
Net Debt1,912.01,612.318.6%
FFO400.9478.6-16.2%
FFO/Net Debt21.0%29.7%-8.7 pp
Net Debt/Adjusted EBITDA3.503.0514.8%
Dividend per Share (DPS)1.371.333.0%
Net Profit163.9276.2-40.7%
EPS2.263.82-40.8%
### Explanation: - **Adjusted EBITDA**: Increased by 3.4% YoY, driven by stronger performance in Green Capacities and Networks segments. - **Investments**: Decreased by 11.3% YoY due to several projects reaching COD. - **Net Debt**: Increased by 18.6% YoY due to significant investments in Networks and Green Capacities. - **FFO**: Decreased by 16.2% YoY, leading to a decline in FFO/Net Debt ratio. - **Dividend per Share (DPS)**: Increased by 3.0% YoY, in line with the Dividend Policy. - **Net Profit and EPS**: Both decreased significantly YoY, reflecting lower operating profit and adjusted net profit. This table provides a concise comparison of key financial and debt metrics for 2025 and 2024.
Open Terminal Source RNS
GLB
GLB Glanbia plc
06:31
Market

Glanbia launches share buyback

**Summary:** Glanbia plc, the Better Nutrition company, announced on February 25, 2026, the launch of a share buyback program valued up to €50 million. The program aims to reduce the companys share capital by repurchasing and canceling or…

**Summary**
Glanbia plc, the Better Nutrition company, announced on February 25, 2026, the launch of a share buyback program valued up to €50 million. The program aims to reduce the companys share capital by repurchasing and canceling ordinary shares. It will run from February 25, 2026, to September 30, 2026, unless terminated earlier, and is part of a larger €100 million buyback initiative. J&E Davy (Davy) will act as the principal for share purchases, operating independently within pre-set parameters. The buyback will initially be conducted under the authority granted at the 2025 Annual General Meeting (AGM), allowing repurchase of up to 10% of issued share capital (13,865,688 shares post-previous buybacks). Continuation beyond April 29, 2026, is contingent on shareholder approval at the 2026 AGM. The program complies with Euronext Dublin Listing Rules, EU Market Abuse Regulations, and Central Bank of Ireland guidelines. Glanbia confirmed it holds no unpublished inside information. Contact details for key executives and Davy representatives were provided.
Launch
Open Terminal Source RNS
ROAD
ROAD Roadside Real Estate plc
06:23
Market

Completion of Acquisition

Open Terminal Source RNS
BARC
BARC Barclays PLC
06:16
Market

Transaction in Own Shares

Open Terminal Source RNS
MTLN
MTLN Metlen Energy & Metals PLC
06:15
Market

Landmark agreement between Shell and METLEN

Open Terminal Source RNS
0MGE
0MGE Sydbank
06:13
Market

AL Sydbank leverer et solidt første regnskab

Open Terminal Source RNS
0MGE
0MGE Sydbank
06:13
Market

AL Sydbank delivers strong first financial statements

Open Terminal Source RNS
0A3F
0A3F 0A3F
06:11
Market

Net Asset Value(s)

Open Terminal Source RNS
0A3D
0A3D iShares VII Public Limited …
06:11
Market

Net Asset Value(s)

Open Terminal Source RNS
0A3E
0A3E 0A3E
06:11
Market

Net Asset Value(s)

Open Terminal Source RNS
CMB1
CMB1 iShares FTSE MIB UCITS
06:11
Market

Net Asset Value(s)

Open Terminal Source RNS
0A3G
0A3G 0A3G
06:11
Market

Net Asset Value(s)

Open Terminal Source RNS
EARN
EARN EARNZ plc
06:09
Market

Significant new contracts wins endorse position

**Summary:** EARNZ plc, a leading UK energy services provider, announced two significant contract wins on February 25, 2026, reinforcing its strategic position in the market. The contracts align with the company’s goal of building long-te…

**Summary**
EARNZ plc, a leading UK energy services provider, announced two significant contract wins on February 25, 2026, reinforcing its strategic position in the market. The contracts align with the company’s goal of building long-term partnerships with Tier 1 clients in both public and private sectors, focusing on residential and non-residential property portfolios.
1. **A&D Carbon Solutions Contract**
Awarded by Fortem, on behalf of Sanctuary Housing, for a two-year project in Stoke-on-Trent and Chester.
Services include retrofit insulationventilation upgradesand renewable energy solutions.
Expected annual revenue£2.6 million, with potential extension for 12-18 months.
Delivered via EARNZ’s subsidiaryNational Retrofit Solutionsbased in Stafford.
2. **Warm Low Living Contract**
Commissioned by a consortium of Social Housing Providers in Yorkshire.
Focused on energy efficiency improvements for over 175 properties.
Project durationApril 2026 to March 2028, generating £2.1 million in revenue.
These wins follow previous successes in 2025, including contracts with Bradford Metropolitan Borough Council and Equans. CEO Peter Smith emphasized the contracts’ significance in endorsing EARNZ’s market leadership and contributing to energy efficiency, cost reduction, and improved living conditions for residents.
**Key Contacts**
EARNZ plcPeter Smith and Elizabeth Lake
Nominated Adviser and BrokerZeus Capital Limited
Financial PRCamarco
The announcement was released via RNS, the London Stock Exchange’s news service, and complies with UK regulatory requirements.
NewContract
Open Terminal Source RNS
OGDC
OGDC OGDC
06:08
Market

RECEIPT OF EIGHTH INTEREST PAYMENT UNDER TFCs

Open Terminal Source RNS
VALT
VALT Valterra Platinum Limited
06:07
Market

Final Dividend Declaration

Open Terminal Source RNS
IPF
IPF International Personal Fina…
06:06
Market

2025 Final Results and Accounts

**Summary of International Personal Finance Plcs 2025 Final Results and Accounts** **Overview** International Personal Finance (IPF) reported strong financial and strategic progress for the year ended 31 December 2025, driven by robust …

**Summary of International Personal Finance Plcs 2025 Final Results and Accounts**
**Overview**
International Personal Finance (IPF) reported strong financial and strategic progress for the year ended 31 December 2025, driven by robust operational delivery and its Next Gen strategy. The Group achieved pre-exceptional profit before tax of £88.6 million (2024: £85.2 million), supported by increased customer numbers, lending growth, and improved credit quality. A final dividend of 9.0 pence per share was proposed, bringing the full-year dividend to 12.8 pence per share.
**Key Financial Highlights**
**Customer Growth**Customer numbers increased by 4.7% to 1.7 million, marking the first year of growth in a decade.
**Lending and Receivables**Customer lending grew by 11.8% to £1,342.0 million, and closing net receivables increased by 13.9% to £1,061.3 million.
**Credit Quality**The impairment rate improved to 9.0% (2024: 9.6%), reflecting robust customer repayment performance.
**Dividend**A 12.5% increase in the final dividend to 9.0 pence per share, with a full-year dividend of 12.8 pence per share.
**Strategic Progress**
**Next Gen Strategy**Significant advancements in product expansion, digital capabilities, and operational efficiency.
**Product Innovation**Launched ProviSmart credit cards in Poland and a pilot in Romania, expanded retail partnerships, and introduced short-term loan products in Mexico and Poland.
**Geographic Expansion**Opened new branches in Monterrey and Ensenada, Mexico.
**Technology and Data**Invested £35.2 million in technology to enhance customer experience, automation, and data-driven decision-making.
**Proposed Acquisition by BasePoint**
The Board recommended a proposed acquisition by IPF Parent Holdings Limited (BasePoint) at an increased offer value of 250 pence per share, inclusive of a 15 pence per share special dividend. This represents a 40% premium to the closing price on 29 July 2025.
**CEO Commentary**
Gerard Ryan, CEO, highlighted the Groups accelerated growth and strategic execution, emphasizing improved customer demand, disciplined operations, and strong credit quality. He noted the Groups strong funding position and commitment to financial inclusion.
**Outlook**
IPF expects to sustain growth momentum in 2026, supported by robust credit quality, a strong balance sheet, and continued investment in key markets like Mexico and Australia. An additional £5 million per annum will be invested in new initiatives over the next two to three years to drive medium-term performance.
**Financial Review**
**Divisional Performance**Provident Europe, Provident Mexico, and IPF Digital all delivered strong growth in customer lending and receivables.
**Revenue and Costs**Revenue yield decreased slightly to 52.5%, while the cost-income ratio remained stable at 61.1%.
**Returns**Pre-exceptional RoRE moderated to 14.9%, reflecting investments in growth initiatives.
**Regulatory Update**
IPF continues to monitor and adapt to regulatory changes, particularly the implementation of the second Consumer Credit Directive (CCD II) across European markets.
**Conclusion**
IPFs 2025 results reflect strong operational and financial performance, underpinned by strategic initiatives and a focus on financial inclusion. The proposed acquisition by BasePoint marks a significant milestone, offering shareholders attractive value. The Group remains well-positioned for sustainable growth and continued progress toward its long-term goals.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY-25 (£m)FY-24 (£m)YoY Change (£m)YoY Change (%)
Customer numbers (000s)1,7291,652774.7%
Customer lending (£m)1,342.01,214.5127.510.5%
Closing net receivables (£m)1,061.3870.0191.322.0%
Pre-exceptional PBT (£m)88.685.23.44.0%
Statutory PBT (£m)85.373.312.016.4%
Full-year dividend per share (pence)12.811.41.412.3%
TNAV per share (£)2.141.870.2714.4%
Revenue (£m)737.5726.311.21.5%
Impairment (£m)(126.8)(127.5)0.70.5%
Interest expense (£m)(71.3)(70.4)(0.9)(1.3%)
Total debt facilities (£m)750656.993.114.2%
Net borrowings (£m)621515.9105.120.4%
Equity to receivables ratio (%)51%54%(3%)(5.6%)
**Notes:** * The table includes key financial metrics and debt-related figures for FY-25 and FY-24. * The YoY Change columns show the difference between FY-25 and FY-24 values. * The percentage changes are calculated based on the FY-24 values. * Debt-related figures are derived from the "Funding and balance sheet" section of the provided text. * The equity to receivables ratio is calculated as Total Equity / Amounts receivable from customers.
Open Terminal Source RNS
VALT
VALT Valterra Platinum Limited
06:06
Market

Results for the year ended 31 December 2025

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

<mark style="background-coloryellow"></mark>
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BNC
BNC Banco Santander S.A.
06:04
Market

Strategic plans, profit forecasts & payout policy

Open Terminal Source RNS
IGN
IGN AB Ignitis grupe
06:04
Market

Twelve months 2025 interim report

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JET2
JET2 Jet2 PLC
06:02
Market

Transaction in Own Shares

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HSX
HSX Hiscox Ltd
06:02
Market

Announcement of share repurchase programme

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RCOI
RCOI Riverstone Credit Opportuni…
06:02
Market

Compulsory Share Redemption & Dividend Declaration

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HMSO
HMSO Hammerson PLC
06:02
Market

Dividend Declaration

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BNC
BNC Banco Santander S.A.
06:01
Market

Dividend declaration & agreement to call 2026 AGM

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GROW
GROW Draper Esprit PLC
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
BGEO
BGEO Lion Finance Group PLC
06:01
Market

GEL 53.5m extension to the share buyback programme

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VIC
VIC Victorian Plumbing Group PLC
06:01
Market

CEO Succession

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XX13
XX13 XX13
06:01
Market

Final Results

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BGEO
BGEO Lion Finance Group PLC
06:01
Market

Dividend Declaration

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HSBA
HSBA HSBC Holdings PLC
06:01
Market

Annual results 2025 Zoom meeting

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FRMI
FRMI FRMI
06:01
Market

Fermi America Announces Q4 2025 Earnings Call

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PRTC
PRTC PureTech Health plc
06:01
Market

PRTC to Present at Leerink Healthcare Conference

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MEGP
MEGP Me Group International PLC
06:01
Market

Delay in FY25 Audited Financial Statements

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BOD
BOD Botswana Diamonds plc
06:01
Market

Change of Name to Botswana Minerals plc

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ROQ
ROQ Roquefort Investments PLC
06:01
Market

Transaction Update & Notice of Intention to Delist

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KRPZ
KRPZ Kropz Plc
06:01
Market

Results of WRAP Offer and Update on Subscription

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EQT
EQT EQTEC plc
06:01
Market

High-Grade Copper and Gold Potential at Green Rock

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TXP
TXP Touchstone Exploration Inc
06:01
Market

2025 YEAR-END RESERVES

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VIC
VIC Victorian Plumbing Group PLC
06:01
Market

AGM Trading Update, Acquisition & Results Notice

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ABF
ABF Associated British Foods PLC
06:01
Market

Share repurchase programme

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SUPR
SUPR Supermarket Income REIT PLC
06:01
Market

Notice of Half Year Results and Presentation

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EVPL
EVPL Everplay Group PLC
06:01
Market

Notice of Full Year Results

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ZNWD
ZNWD Zinnwald Lithium PLC
06:01
Market

Directorship Changes & Registered Address Change

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OBI
OBI Ondine Biomedical Inc
06:01
Market

Share Issuance for ICU Study Submission

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EGY
EGY VAALCO Energy Inc
06:01
Market

Participation in SB1 Markets Energy Conference

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DOTD
DOTD Dotdigital Group Plc
06:01
Market

Notice of Results and Investor Presentations

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WFR
WFR WFR
06:01
Market

Notice of AGM

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AEI
AEI abrdn Equity Income Trust p…
06:01
Market

Block Admission

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JSE
JSE Jadestone Energy Inc
06:01
Market

Block Listing Six Monthly Return

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TUN
TUN Tungsten West PLC
06:01
Market

TR-1: Notification of major holdings

TR1 Buy

TR1 Buy
['BAKER STEEL CAPITAL MANAGERS LLP', '10.80', '13.56']
Open Terminal Source RNS
AML
AML Aston Martin Lagonda Global…
06:01
Market

Preliminary Results FY2025

**Summary of Aston Martin Lagonda Global Holdings PLC Preliminary Results for FY2025** **Overview:** Aston Martin Lagonda Global Holdings PLC (AML) reported preliminary results for FY2025, highlighting challenges in a difficult trading en…

**Summary of Aston Martin Lagonda Global Holdings PLC Preliminary Results for FY2025**
**Overview**
Aston Martin Lagonda Global Holdings PLC (AML) reported preliminary results for FY2025, highlighting challenges in a difficult trading environment while achieving operational milestones. Despite external pressures, the company focused on product launches, operational transformation, and cost management.
**Key Financial Highlights**
**Revenue** Declined by 21% to £1,257.7 million due to lower wholesale volumes and fewer high-margin Specials.
**Gross Profit** Fell by 37% to £369.8 million, with a gross margin of 29.4%, impacted by tariffs, lower Specials, and increased warranty costs.
**Adjusted EBIT Loss** Widened to £189.2 million from £82.8 million in FY2024, reflecting lower gross profit and operational challenges.
**Net Debt** Increased to £1,380.3 million from £1,162.7 million, with liquidity at £250 million, supported by improved cash collections and the proposed sale of naming rights to AMR GP for £50 million.
**Operational Achievements**
**Product Launches** Commenced production of the Valhalla mid-engined PHEV supercar, delivering 152 units in Q4 2025, contributing to sequential ASP growth.
**Core ASP** Increased by 5% to £185,000, driven by new core model derivatives.
**Cost Management** Reduced SG&A and CAPEX, partially offsetting external challenges.
**Strategic Initiatives**
**Transformation Programme** Ongoing initiatives to enhance operational efficiency and reduce costs.
**Product Mix** Focus on an enhanced product mix, including the Valhalla and high-performance derivatives like the DBX S and Vanquish Volante.
**Market Demand** Strengthened customer engagement through global driving events, the Private Office for top clients, and the upcoming Q London flagship.
**Outlook for FY2026**
**Financial Performance** Expects material improvement driven by an enhanced product mix, transformation benefits, and disciplined operations.
**Wholesale Volumes** Similar to FY2025, with retail volumes outpacing wholesales.
**Gross Margin** Anticipated to improve to the high 30s%, supported by efficient production and Valhalla deliveries.
**Adjusted EBIT Margin** Expected to improve materially towards breakeven.
**Free Cash Flow** Significant improvement expected, with the majority of outflow in Q1 2026 and a material year-on-year improvement from Q2 onwards.
**CEO Commentary**
Adrian Hallmark emphasized navigating a challenging environment while delivering critical operational milestones. He highlighted the impact of geopolitical uncertainties and macroeconomic pressures but expressed confidence in the companys strategy and upcoming products to drive future success.
**Conclusion**
Despite a challenging FY2025, Aston Martin demonstrated resilience through operational achievements and strategic initiatives. The company is poised for a material improvement in FY2026, supported by an enhanced product mix, ongoing transformation, and disciplined operational focus.
Here is the HTML table code comparing the financials and debt year on year for Aston Martin Lagonda Global Holdings PLC:
MetricFY 2025FY 2024% Change
Revenue (£m)1,257.71,583.9(21%)
Gross Profit (£m)369.8583.9(37%)
Gross Margin (%)29.4%36.9%(750 bps)
Adjusted EBIT (£m)(189.2)(82.8)(129%)
Operating (Loss)/Profit (£m)(259.2)(99.5)(161%)
Loss Before Tax (£m)(363.9)(289.1)(26%)
Net Debt (£m)(1,380.3)(1,162.7)(19%)

Key Observations:

  • Revenue decreased by 21% from £1,583.9m in FY 2024 to £1,257.7m in FY 2025.
  • Gross profit declined by 37% from £583.9m in FY 2024 to £369.8m in FY 2025.
  • Gross margin decreased by 750 basis points from 36.9% in FY 2024 to 29.4% in FY 2025.
  • Adjusted EBIT loss widened by 129% from £(82.8)m in FY 2024 to £(189.2)m in FY 2025.
  • Net debt increased by 19% from £(1,162.7)m in FY 2024 to £(1,380.3)m in FY 2025.

Note: The negative values for net debt indicate a net debt position, while the negative values for adjusted EBIT and loss before tax indicate losses.

This table provides a clear comparison of the key financial metrics and debt position of Aston Martin Lagonda Global Holdings PLC for FY 2025 and FY 2024. The `% Change` column highlights the year-on-year changes, making it easy to identify areas of improvement or deterioration.
Open Terminal Source RNS
CNC
CNC Concurrent Technologies Plc
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['CANACCORD GENUITY GROUP INC', '5.0139', '4.6270']
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BGEO
BGEO Lion Finance Group PLC
06:01
Market

4Q25 and FY25 Preliminary Results

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TBCG
TBCG TBC Bank Group PLC
06:01
Market

Director/PDMR Shareholding

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TRN
TRN Trainline Plc
06:01
Market

Directorate change

Open Terminal Source RNS
UTG
UTG Unite Group 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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FGEN
FGEN Foresight Environmental Inf…
06:01
Market

Net Asset Value and Dividend Announcement

Open Terminal Source RNS
HLN
HLN Haleon PLC
06:01
Market

Haleon Preliminary 2025 Full Year Results

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KEN
KEN Kendrick Resources PLC
06:01
Market

Director’s dealing and Total Voting Rights

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ELIX
ELIX Elixirr International 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
Open Terminal Source RNS
ROAD
ROAD Roadside Real Estate plc
06:01
Market

Notification of Major Holdings

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

<mark style="background-coloryellow">TR1</mark> Buy
['Pentwater Capital Management LP', '', 0]
Open Terminal Source RNS
WRKS
WRKS Works co uk PLC
06:01
Market

Directorate Change

Open Terminal Source RNS
ZEG
ZEG Zegona Communications Plc
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
RCOI
RCOI Riverstone Credit Opportuni…
06:01
Market

Final Results for the Year Ended 31 December 2025

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EGT
EGT European Green Transition P…
06:01
Market

Acquisition of infrastructure services platform

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

Transactions in Own Shares

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ROCK
ROCK Rockfire Resources plc
06:01
Market

Molaoi Drilling Update

Open Terminal Source RNS
TRCS
TRCS Tracsis Plc
06:01
Market

Trading Update and North American Contract Win

**Summary:** Tracsis PLC, a leading transport technology provider, released a trading update for the six months ended 31 January 2026 (H1 FY26), highlighting the following key points: 1. **Financial Performance**: H1 FY26 revenue is expe…

**Summary**
Tracsis PLC, a leading transport technology provider, released a trading update for the six months ended 31 January 2026 (H1 FY26), highlighting the following key points
1. **Financial Performance**H1 FY26 revenue is expected to be approximately £39 million (up from £36.3 million in H1 FY25), with adjusted EBITDA of around £5.0 million (up from £3.8 million in H1 FY25). This performance is in line with market expectations for the full year.
2. **Strategic Progress**The company continues to make progress against its strategic priorities, with revenue and margin growth in both divisions. Recurring license and consumer-driven transactional revenues also saw growth.
3. **North American Contract Win**Tracsis secured a new multi-year contract with a shortline freight railroad in North America to deploy its Train Dispatch software product. This win validates the competitiveness of their offering in the North American market and supports international diversification efforts.
4. **Balance Sheet and Cash Generation**The company maintains a strong balance sheet with healthy cash generation, reporting net cash of £25.8 million at H1 FY26 (up from £22.1 million in H1 FY25).
5. **Full-Year Expectations**The Board reiterates its expectations to deliver revenue and adjusted EBITDA in line with market expectations for the full year. The H1/H2 phasing of revenue is expected to follow historical trends, supported by recurring revenues, consumer-driven transactional revenues, and a significant confirmed orderbook.
6. **CEO Commentary**David Frost, CEO of Tracsis, expressed satisfaction with the H1 performance and highlighted the strategic importance of the North American contract win. He emphasized the companys alignment with long-term structural trends in the transport sector and its focus on executing its growth transformation strategy.
Overall, Tracsis remains well-positioned for long-term growth, supported by its robust financial performance, strategic contract wins, and alignment with industry trends.
NewContract
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ADVT
ADVT AdvancedAdvT Ltd
06:01
Market

Full year trading ahead of market expectations

Open Terminal Source RNS
WINE
WINE Naked Wines plc
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
BATS
BATS British American Tobacco PLC
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
NBB
NBB Norman Broadbent Plc
06:01
Market

Acquisition And Total Voting Rights

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

GSK enters agreement to acquire 35Pharma

**Summary:** GSK plc announced on February 25, 2026, that it has entered into an agreement to acquire 35Pharma Inc., a Canadian clinical-stage biopharmaceutical company, for $950 million in cash. The acquisition includes HS235, a potentia…

**Summary**
GSK plc announced on February 25, 2026, that it has entered into an agreement to acquire 35Pharma Inc., a Canadian clinical-stage biopharmaceutical company, for $950 million in cash. The acquisition includes HS235, a potentially best-in-class activin signaling inhibitor in clinical development for treating cardiopulmonary diseases, particularly pulmonary hypertension (PH). HS235 offers a differentiated profile by reducing the risk of bleeding and providing metabolic benefits, addressing key limitations of current PH therapies. The drug has completed Phase I trials and is set to begin studies in pulmonary arterial hypertension (PAH) and PH due to heart failure with preserved ejection fraction (PH-HFpEF).
PH affects approximately 82 million people globally, with limited treatment options and a five-year survival rate of around 50%. The global PH therapies market is projected to reach $18 billion by 2032, with activin signaling inhibitors expected to account for 50%. HS235’s mechanism targets the activin receptor pathway, reducing adverse events associated with current treatments, and offers additional metabolic benefits such as fat-selective weight loss and improved insulin sensitivity.
The acquisition strengthens GSK’s Respiratory, Immunology, and Inflammation (RI&I) portfolio, providing scalable opportunities to address metabolic, inflammatory, vascular, and fibrotic drivers of chronic diseases affecting the lung, liver, and kidney. The transaction is subject to regulatory approvals in the US and Canada and is expected to close pending customary conditions.
Agreement
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SML
SML Strategic Minerals Plc
06:01
Market

Redmoor: Further Positive Drill Results

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DGE
DGE Diageo PLC
06:01
Market

Interim Results

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AEP
AEP Anglo-Eastern Plantations P…
06:01
Market

Transaction in Own Shares

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MGNS
MGNS Morgan Sindall Group PLC
06:01
Market

Results for the Full Year ended 31 December 2025

**Summary of Morgan Sindall Group PLCs Final Results for the Year Ended 31 December 2025** Morgan Sindall Group PLC reported a strong performance for the full year ended 31 December 2025, with significant growth in adjusted profit before …

**Summary of Morgan Sindall Group PLCs Final Results for the Year Ended 31 December 2025**
Morgan Sindall Group PLC reported a strong performance for the full year ended 31 December 2025, with significant growth in adjusted profit before tax, up 35% to £233 million. The Group achieved record revenue of £5.0 billion, a 10% increase from the previous year, driven by robust performance across its divisions. Key highlights include
**Financial Performance**Adjusted operating profit rose by 39% to £225.7 million, with a margin expansion to 4.6%. Earnings per share (adjusted) increased by 33% to 370.0p. The Group maintained a strong balance sheet with net cash of £531 million, up from £492 million in 2024.
**Dividend Growth**The full-year dividend was increased by 20% to 158p per share, reflecting the Groups strong financial position and confidence in future prospects.
**Secured Order Book**The Group entered 2026 with a record secured order book of £12.0 billion, up 5%, and preferred bidder work increased by 17% to £19.1 billion. This includes significant growth in the Partnerships division, with a 29% increase in its order book to £11.5 billion.
**Divisional Performance**
**Partnership Housing**Revenue grew by 5% to £903 million, with operating profit up 16% to £42.0 million, despite challenges in the private housing market.
**Fit Out**Delivered exceptional performance with a 37% revenue increase to £1.78 billion and a 41% rise in operating profit to £139.9 million.
**Construction**Revenue increased by 11% to £1.16 billion, with operating profit up 20% to £37.0 million.
**Infrastructure**Revenue declined by 11% to £935 million, but operating profit remained stable at £37.2 million, with a margin expansion to 4.0%.
**Sustainability Leadership**The Group retained its MSCI AAA rating for ESG performance and achieved a CDP A- rating for climate leadership. It remains on track to meet its science-based carbon reduction targets.
**Strategic Progress**The Group increased medium-term targets for the Mixed Use Partnerships and Infrastructure divisions, reflecting improved market positions and future prospects.
**Outlook**Despite headwinds in the housing market, the Group remains positive for 2026 and expects to deliver results in line with revised expectations. The focus remains on long-term sustainable growth, supported by a strong balance sheet and disciplined capital allocation.
Overall, Morgan Sindall Group PLC demonstrated resilience and growth in 2025, with a strong financial performance, strategic progress, and continued leadership in sustainability, positioning the Group well for future opportunities.
Here is the HTML table code comparing the financials and debt year on year for Morgan Sindall Group PLC: td>+35%
MetricFY 2025 (£m)FY 2024 (£m)Change
Revenue5,0194,546+10%
Operating profit - adjusted225.7162.6+39%
Profit before tax - adjusted232.6172.5
Year end net cash531492+£39m
Net finance income6.99.9-£3m
Operating cash flow195.9134.8+£61.1m
Free cash flow161.5107.0+£54.5m
Total dividend per share (p)158.0131.5+20%

Key Observations:

  • Revenue increased by 10% year-on-year, driven by strong performance across divisions.
  • Adjusted profit before tax grew by 35%, reflecting improved margins and operational efficiency.
  • Net cash position strengthened by £39m, despite increased investment in partnerships and working capital.
  • Net finance income decreased by £3m, primarily due to lower interest income on bank deposits.
  • Operating and free cash flows improved significantly, supporting the increased dividend payout.
This table provides a concise comparison of key financial metrics and debt-related figures for Morgan Sindall Group PLC between FY 2025 and FY 2024. The observations highlight the company's strong financial performance, improved cash flows, and strengthened balance sheet.
Open Terminal Source RNS
HMSO
HMSO Hammerson PLC
06:01
Market

Final Results

**Hammerson PLC Final Results for the Year Ended 31 December 2025: Summary** **Overview** Hammerson PLC, a leading investor and manager of prime retail-led city destinations in the UK, France, and Ireland, reported strong full-year re…

**Hammerson PLC Final Results for the Year Ended 31 December 2025: Summary**
**Overview**
Hammerson PLC, a leading investor and manager of prime retail-led city destinations in the UK, France, and Ireland, reported strong full-year results for 2025, highlighting significant growth in net rental income, earnings, dividends, and net tangible assets (NTA). The company is well-positioned for continued growth in FY26 and beyond, driven by active asset management, record leasing activity, and strategic acquisitions.
**Key Highlights**
1. **Financial Performance**
Total net rental income increased by 23% to £180 million, with like-for-like growth of 3%.
Portfolio value rose by 33% to £3.5 billion, supported by acquisitions, ERV growth, and yield compression.
EPRA earnings grew by 5% to £104 million, with EPS up 4% to 20.7p.
IFRS profit of £232 million, compared to a £526 million loss in FY24, driven by EPRA earnings and a £120 million net revaluation gain.
Final dividend increased by 6% to 8.56p, with a full-year dividend of 16.50p (up 6%).
2. **Operational Strength**
Record leasing of £51 million, up 18% like-for-like, with positive spreads and high demand for prime space.
Occupancy improved by 1 percentage point to 96%, with six out of ten flagship destinations at least 98% occupied.
Footfall increased by 3 million to 170 million visitors, outperforming national retail benchmarks.
3. **Strategic Investments**
Invested £757 million in key assets (Westquay, Brent Cross, Bullring, Grand Central, and The Oracle) since November 2024 at an average yield of 7.6%.
Completed repositioning at Cabot Circus and The Oracle, with Cergy 3 repositioning expected to open in H1 2027, fully pre-let to Primark and Nike.
4. **Balance Sheet and Capital Structure**
Sustainable balance sheet with a loan-to-value (LTV) ratio of 39% and net debt:EBITDA of 8.1x.
Credit rating upgrades from Fitch (A-) and Moodys (Baa2 with positive outlook).
Successful equity raise and bond issuance to support acquisitions and growth.
5. **Outlook**
FY26 guidance20% growth in net rental income, 15% growth in EPRA earnings, and 10% growth in EPRA EPS.
High visibility of long-term income streams, with further growth expected in FY27 and beyond.
**CEO Commentary**
Rob Wilkinson, Chief Executive, emphasized the company’s focus on active asset management, targeted leasing, and the success of its prime retail destinations. He highlighted the company’s strong position for future growth, driven by its integrated platform and high-quality portfolio.
**Conclusion**
Hammerson’s FY25 results demonstrate robust financial and operational performance, underpinned by strategic investments and effective asset management. The company is poised for continued growth, with a clear focus on enhancing shareholder value through increased rental income, earnings, and dividends.
Below is an HTML table comparing the financials and debt metrics year-on-year for Hammerson PLC based on the provided text:
Metric20242025Change
Net Rental Income (£m)£146m£180m+23%
Like-for-like Net Rental Income Change-0.5%+2.6%+3.1%
EPRA Earnings (£m)£99m£104m+5%
Net Revaluation Gains/Losses (£m)-£91m+£120m+£211m
Profit/(Loss) for the Period (IFRS) (£m)-£526m+£232m+£758m
Net Debt (£m)£799m£1,370m+71%
Loan to Value (LTV)30%39%+9%
Net Debt:EBITDA (rolling 12 months)5.8x9.5x+64%
Portfolio Value (£m)£2,659m£3,549m+33%
EPRA NTA per Share (£)£3.70£3.94+6%
Dividend per Share for the Year (p)15.63p16.50p+6%
### Key Highlights from the Table: 1. **Net Rental Income**: Increased by 23% from £146m in 2024 to £180m in 2025. 2. **EPRA Earnings**: Grew by 5% from £99m to £104m. 3. **Net Debt**: Rose significantly by 71% from £799m to £1,370m. 4. **Loan to Value (LTV)**: Increased from 30% to 39%. 5. **Portfolio Value**: Expanded by 33% from £2,659m to £3,549m. 6. **EPRA NTA per Share**: Improved by 6% from £3.70 to £3.94. 7. **Dividend per Share**: Increased by 6% from 15.63p to 16.50p. This table provides a clear comparison of key financial and debt metrics between 2024 and 2025 for Hammerson PLC.
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PTAL
PTAL Petrotal Corp
06:01
Market

2025 Year-End Oil Reserves

Open Terminal Source RNS
GLB
GLB Glanbia plc
06:01
Market

Glanbia Full Year 2025 Results

**Summary of Glanbia Full Year 2025 Results** Glanbia plc, the Better Nutrition company, reported robust financial results for the 2025 fiscal year, ending January 3, 2026. Key highlights include: - **Revenue Growth**: Revenue increased …

**Summary of Glanbia Full Year 2025 Results**
Glanbia plc, the Better Nutrition company, reported robust financial results for the 2025 fiscal year, ending January 3, 2026. Key highlights include
**Revenue Growth**Revenue increased by 2.3% to $3.9 billion, driven by like-for-like (LFL) growth across all three segments: Performance Nutrition (PN), Health & Nutrition (H&N), and Dairy Nutrition (DN).
**EBITDA Decline**EBITDA decreased by 9.4% to $499.1 million, primarily due to record whey input costs affecting the PN segment.
**Adjusted EPS**Adjusted earnings per share (EPS) declined by 3.4% to 134.93 cents, while basic EPS increased by 19.7% to 73.16 cents.
**Segment Performance**
**Performance Nutrition**LFL revenue growth of 4.5%, with Optimum Nutrition achieving 6.4% growth. EBITDA margin declined to 13.0% due to high whey costs.
**Health & Nutrition**LFL revenue growth of 6.8%, with strong volume growth. EBITDA margin improved to 18.4%.
**Dairy Nutrition**LFL volume growth of 4.2%, with EBITDA of $149.5 million.
**Capital Allocation**
Recommended a final dividend of 25.67 €cent, bringing the total 2025 dividend to 42.87 €cent, a 10% increase.
Returned €197 million to shareholders via share buybacks and approved an additional €100 million buyback for 2026.
**Strategic Updates**
Sold non-core brands SlimFast and Body & Fit.
Acquired Sweetmix and Scicore to enhance global scale in H&N.
Continued a group-wide transformation program targeting $60 million in annual cost savings by 2027.
**2026 Outlook**
Expects adjusted EPS growth of 7% to 11% and operating cash conversion of 85%+.
Segmental performance is expected to align with medium-term targets.
CEO Hugh McGuire emphasized the Groups resilience despite macroeconomic challenges, highlighting strong cash flow, strategic acquisitions, and progress on cost-saving initiatives. Glanbia remains focused on its medium-term targets, positioning itself as a leader in better nutrition.
Here is the comparison of Glanbia's financials and debt year on year, presented as an HTML table:
Metric2025 ($m)2024 ($m)Change (%)
Revenue3,946.43,839.72.8%
EBITDA499.1551.3-9.5%
EBITDA Margin12.6%14.4%-180bps
Adjusted EPS ($cent)134.93140.03-3.6%
Basic EPS ($cent)73.1663.2115.7%
Net Debt526.0436.020.6%
Net Debt to Adjusted EBITDA1.08x0.81x33.3% increase

Key Observations:

  • Revenue increased by 2.8% year-on-year, driven by volume and pricing growth across all segments.
  • EBITDA declined by 9.5% due to elevated input costs, particularly in Performance Nutrition.
  • Net debt increased by 20.6%, resulting in a higher net debt to adjusted EBITDA ratio of 1.08 times compared to 0.81 times in 2024.
This table provides a concise comparison of key financial metrics and debt levels between 2025 and 2024, highlighting the changes and trends in Glanbia's financial performance.
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BCG
BCG Baltic Classifieds Group PLC
06:01
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Transaction in Own Shares

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HSX
HSX Hiscox Ltd
06:01
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Full Year Results

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AFC
AFC AFC Energy plc
06:01
Market

Final Audited Results

AFC Energy Plc, a leading provider of ammonia-based low-carbon hydrogen production and hydrogen-to-power solutions, has released its final audited results for the financial year ended 31 October 2025. The company reported significant strat…

AFC Energy Plc, a leading provider of ammonia-based low-carbon hydrogen production and hydrogen-to-power solutions, has released its final audited results for the financial year ended 31 October 2025. The company reported significant strategic and operational progress, with a focus on commercial deployment of its proprietary technology to create shareholder value.
**Key Highlights**
1. **Financial Performance**
* Loss after tax of £22.2 million, including an increase in non-cash expenditure of £8.4 million.
* £25.3 million in cash, cash equivalents, and short-term investments at year-end, with current cash of £20.4 million as of 31 January 2026.
* £27.5 million successful oversubscribed placing to support development ambitions.
2. **Operational Achievements**
* Launch of the LC30 fuel cell generator, offering 85% lower cost, 20% more efficiency, and a substantially smaller footprint.
* Progress on the Hy-5 ammonia cracker, capable of producing 500kg/day of hydrogen, targeting sales at £10/kg.
* Strategic partnerships with Volex Plc for manufacturing and Industrial Chemicals Group Limited for low-cost bulk hydrogen production.
* Joint Development Agreements (JDAs) with S&P 500 and Komatsu Ltd partners for decentralized ammonia-to-hydrogen crackers.
3. **Strategic Focus**
* Shift towards commercial viability without government subsidies, targeting low-cost hydrogen power at scale.
* Establishment of a Project Management Office and commercial function to streamline operations and drive growth.
* Reorganization with reduced headcount and footprint, resulting in annualized savings of £1.5 million.
4. **Post-Period Developments**
* UK Environment Agency permit approval for hydrogen production from the pilot ammonia cracker, enabling revenue generation 3-4 months ahead of schedule.
* Joint Development Agreement with Komatsu Ltd for ammonia-fueled engine platform development.
5. **Business Priorities**
* Commercialization of LC30 and Hy-5 units, with a focus on pre-orders and Fuel as a Service (FaaS) offerings.
* Expansion into North American and European markets, with a refined go-to-market strategy.
* Continued development of fuel cell generators and crackers, with a focus on productization and patent applications.
**CEOs Statement**
John Wilson, Chief Executive Officer, emphasized the companys strategic reset, focusing on commercial viability and shareholder value creation. He highlighted the successful fundraising, cost-cutting measures, and technology validation through partnerships. Wilson expressed optimism for 2026, expecting sustained revenue growth and conversion of opportunities into contractual orders.
**Chairmans Statement**
The Chairman acknowledged the significant positive changes, including the appointment of a new executive team and strategic refocus. He praised the teams resilience and determination, positioning AFC Energy for a central role in the global transition to zero-emission power.
**Financial Review**
The financial review detailed the companys commercial pivot, development costs, and cash management. It highlighted the impact of strategic decisions on financial performance, including inventory write-downs and provisions for expected credit losses.
**Outlook**
AFC Energy remains well-positioned for 2026, with building commercial momentum and a growing pipeline of opportunities. The company aims to convert these opportunities into contractual orders, driving sustained revenue growth and shareholder value creation.
In summary, AFC Energys final audited results showcase significant progress in its strategic and operational goals, with a clear focus on commercial viability, technology development, and market expansion. The companys leadership expresses confidence in its ability to capitalize on the growing hydrogen economy and deliver long-term value to shareholders.
Here is a comparison of AFC Energy Plc's financials and debt year on year, presented as an HTML table:
AFC Energy Plc Financials and Debt Comparison (Year on Year)
MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue1254,002(3,877)(96.9%)
Loss After Tax(22,195)(17,419)(4,776)27.4%
Cash and Cash Equivalents25,31715,3749,94364.7%
Total Debt (Lease Liabilities)160664(504)(75.9%)
R&D Investment11,7029,5122,19023.0%
Trade and Other Receivables1,9236,737(4,814)(71.5%)
Trade and Other Payables5,6304,95567513.6%
**Key Observations:** 1. **Revenue Decline:** Revenue decreased significantly by 96.9% from FY24 to FY25, primarily due to the company's strategic decision to discontinue manufacturing and selling the AR2 units. 2. **Increased Loss:** The loss after tax increased by 27.4%, driven by non-cash items such as inventory write-downs and provisions for expected credit losses. 3. **Improved Cash Position:** Cash and cash equivalents increased by 64.7%, mainly due to the successful £27.5 million fundraising in July 2025. 4. **Reduced Debt:** Total debt (represented by lease liabilities) decreased by 75.9%, indicating a stronger balance sheet. 5. **Higher R&D Investment:** R&D investment increased by 23.0%, reflecting the company's focus on developing new products like the LC30 fuel cell generator and Hy-5 ammonia cracker. 6. **Working Capital Changes:** Trade and other receivables decreased significantly, while trade and other payables increased moderately, reflecting changes in the company's operational focus and strategic priorities. This table provides a concise comparison of key financial metrics, highlighting the significant changes and trends in AFC Energy Plc's financial performance and position between FY24 and FY25.
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DNLM
DNLM Dunelm Group PLC
06:01
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Transaction in Own Shares

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1SN
1SN First Tin PLC
06:01
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Interim Results

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HTG
HTG Hunting PLC
06:01
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Transaction in Own Shares

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OMG
OMG Oxford Metrics plc
06:01
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AGM Statement

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BPT
BPT Bridgepoint Group Plc
06:01
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FMET
FMET Fulcrum Metals PLC
06:01
Market

Bonus Warrant Acceleration Offer Closed

**Summary:** Fulcrum Metals PLC (AIM: FMET) announced the closure of its Bonus Warrant Acceleration Offer, which raised £834,575 through the exercise of 16,691,495 warrants. The funds will strengthen the companys financial position and su…

**Summary**
Fulcrum Metals PLC (AIMFMET) announced the closure of its Bonus Warrant Acceleration Offer, which raised £834,575 through the exercise of 16,691,495 warrants. The funds will strengthen the companys financial position and support ongoing work across its tailings projects, including pilot scoping studies, mineral resource estimates, and production scenario evaluations. An additional 1,458,335 warrants were issued as part of the offer extension, exercisable at 10 pence per share until August 20, 2027. The company also issued 927,045 new ordinary shares to service providers in settlement of fees totaling £98,250. Admission of the new shares to the AIM market is expected around March 2, 2026, increasing the total issued share capital to 142,130,752 ordinary shares. CEO Ryan Mee expressed gratitude to participating warrant holders and highlighted upcoming updates on the pilot scoping study and assay results from the Teck-Hughes and Sylvanite projects. Fulcrum Metals remains focused on environmentally friendly precious metal recovery from mine tailings in Canada, leveraging its exclusive technology license.
Offers
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SHC
SHC Shaftesbury Capital PLC
06:01
Market

Final Results

**Summary of Shaftesbury Capital PLCs Final Results for the Year Ended 31 December 2025** Shaftesbury Capital PLC, a leading central London mixed-use REIT, reported strong financial and operational performance for the year ended 31 Decemb…

**Summary of Shaftesbury Capital PLCs Final Results for the Year Ended 31 December 2025**
Shaftesbury Capital PLC, a leading central London mixed-use REIT, reported strong financial and operational performance for the year ended 31 December 2025. The company delivered growth in rental income, earnings, dividends, property valuation, and net tangible assets per share, highlighting its resilience and strategic focus in the dynamic London West End market.
**Key Highlights**
1. **Financial Performance**
**EPRA NTA** increased by 7.2% to 214.7 pence per share, delivering a total accounting return of 9.1%.
**Portfolio valuation** grew by 6.6% like-for-like to £5.4 billion, supported by a 6.2% increase in ERV to £270 million.
**Underlying earnings** improved by 12% to 4.5 pence per share, and **dividends** increased by 14% to 4.0 pence per share.
**Leasing transactions** totaled 434, representing £39 million in contracted rent, 10.3% ahead of December 2024 ERV.
2. **Operational Strength**
**High occupancy** with only 2.6% of ERV available to let, and strong footfall and customer sales in 2026.
**Portfolio investment** of £113.3 million in capital expenditure and acquisitions, enhancing asset management and rental growth opportunities.
**Strategic partnership** with Norges Bank Investment Management (NBIM) for the Covent Garden estate, underlining the portfolios quality and long-term appeal.
3. **Portfolio and Market Position**
**West End estates** continue to perform well, with vibrant destinations supported by high occupancy, footfall, and customer sales.
**Leasing demand** remains robust, with prime West End locations highly sought after by global brands.
**Active asset management** and curation ensure the portfolio remains distinctive and well-positioned to capture customer demand.
4. **Sustainability and Community Engagement:**
**Sustainability strategy** focuses on future-proofing heritage buildings and creating sustainable, healthy places.
**Progress towards 2030 carbon reduction targets** and a reset Net Zero Carbon target to 2040.
**Active community engagement** with initiatives supporting local employment and community cohesion.
5. **Financial Position and Outlook**
**Strong balance sheet** with enhanced liquidity and low leverage, positioning the company for growth and investment.
**Medium-term target** of 5-7% rental growth, supporting total property returns of 7-9% and total accounting returns of 8-10% per annum.
**Confidence in sustained long-term growth** in rental income, earnings, dividends, and property valuation.
**Conclusion**
Shaftesbury Capital PLC demonstrated robust performance in 2025, driven by its prime West End portfolio, strategic partnerships, and active asset management. The company is well-positioned for future growth, with a strong balance sheet, enhanced liquidity, and a clear focus on sustainability and community engagement. The outlook remains positive, with strong fundamentals supporting continued rental growth and value creation.
Here is a comparison of Shaftesbury Capital PLC's financials and debt year on year, presented as an HTML table:
Metric20252024Change
Total Equity Attributable to Owners of the Parent (£m)3,954.23,674.3+7.6%
IFRS Total Equity per Share (pence)214.6200.4+7.1%
EPRA Net Tangible Assets (£m)3,954.93,671.1+7.7%
EPRA Net Tangible Assets per Share (pence)214.7200.2+7.2%
Market Value of Property Portfolio Under Management (£m)5,407.14,973.5+8.7%
Like-for-like Property Valuation Movement+6.6%+4.5%+2.1%
Net Debt (£m)813.31,405.0-42.1%
EPRA LTV16.8%27.4%-10.6%
Net Debt to EBITDA6.6x10.9x-4.3x
Profit for the Year Attributable to Owners of the Parent (£m)340.2252.1+34.9%
Underlying Earnings per Share (pence)4.54.0+12.5%
Dividend per Share (pence)4.03.5+14.3%
**Key Observations:** - **Equity and Net Assets:** Shaftesbury Capital PLC experienced a significant increase in total equity and net assets, with EPRA Net Tangible Assets per Share growing by 7.2%. - **Property Portfolio:** The market value of the property portfolio under management increased by 8.7%, driven by a 6.6% like-for-like property valuation movement. - **Debt:** Net debt decreased substantially by 42.1%, leading to a reduction in EPRA LTV and Net Debt to EBITDA ratios. - **Profitability and Earnings:** Profit for the year attributable to owners of the parent increased by 34.9%, while underlying earnings per share and dividend per share also grew. This table provides a concise overview of Shaftesbury Capital PLC's financial and debt position, highlighting key improvements and changes year on year.
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OCI
OCI Oakley Capital Investments …
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STJ
STJ St. Jamess Place plc
06:01
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Final Results

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KYGA Kerry Group
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UTG Unite Group PLC
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VOD Vodafone Group PLC
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KGF Kingfisher PLC
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PETS Pets at Home Group Plc
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APTD
APTD Aptitude Software Group PLC
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PLUS Plus500 Ltd
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AAF Airtel Africa Plc
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STAR
STAR Star Energy Group Plc
06:01
Market

Trading Update

**Summary:** Star Energy Group PLC released a trading update for the year ended 31 December 2025, highlighting key achievements and future plans. The company achieved significant cost reductions, including £2.0 million in G&A savings and …

**Summary**
Star Energy Group PLC released a trading update for the year ended 31 December 2025, highlighting key achievements and future plans. The company achieved significant cost reductions, including £2.0 million in G&A savings and a £1.2 million decrease in geothermal expenditure, while maintaining progress on high-value geothermal projects. Net production averaged 1,886 boe/d in 2025, with expectations to rise to 2,000 boe/d in 2026, supported by a flexible capital program. Strong liquidity was maintained with £7.6 million in cash and active balance sheet management. Non-core asset sales generated £6.3 million, and £5.3 million was invested in oil and gas assets, including the Singleton gas-to-wire project. Hedging strategies yielded a £1.2 million gain, and the company paid £1.7 million in Energy Profits Levy. CEO Ross Glover emphasized rigorous capital deployment, operational resilience, and the strategic importance of domestic onshore oil and gas in the UKs energy mix. The company is also exploring value-accretive acquisitions to leverage UK tax losses and enhance shareholder returns. A fuller update is expected in April with the annual results release.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
G&A SavingsN/A£2.0 millionN/A
Geothermal ExpenditureN/A£1.2 million (reduction)-£1.2 million
Net Production (boe/d)N/A1,886N/A
Cash (excl. restricted)N/A£7.6 millionN/A
Loan Facility DrawnN/A£11.9 million (€13.6 million)N/A
Restricted CashN/A£4.5 million (€5.2 million)N/A
Non-Core Asset Sale ProceedsN/A£6.3 millionN/A
Investment in Oil & Gas AssetsN/A£5.3 millionN/A
Abandonment Activities SpendN/A£1.4 millionN/A
Capex Forecast (2026)N/A£6.3 millionN/A
Oil Hedging GainN/A£1.2 millionN/A
Energy Profits Levy (2023)£1.0 millionN/AN/A
Energy Profits Levy (2024)N/A£1.7 million+£0.7 million
### Notes: 1. **2024 Data**: Some metrics for 2024 were not explicitly provided in the text, so they are marked as "N/A". 2. **Changes**: Where applicable, changes between years are indicated. 3. **Formatting**: The table is structured with headers for clarity and includes borders for better readability. This table summarizes the key financial and operational metrics year-on-year based on the provided trading update.
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KETL Strix Group Plc
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PSON Pearson PLC
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CRE Conduit Holdings Ltd
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GSK GSK plc
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BWY Bellway PLC
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HTWS Helios Towers Plc
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POLN Pollen Street PLC
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WTB Whitbread PLC
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17YE 17YE
06:01
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Trading Statement for the Nine Months to Dec 2025

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PRU Prudential plc
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INF Informa PLC
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VTY Vistry Group PLC
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VINO Virgin Wines UK PLC
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RCP RIT Capital Partners
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IGG IG Group Holdings PLC
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BAB Babcock International Group…
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GBG GB Group plc
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TRIG Renewables Infrastructure G…
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JET2 Jet2 PLC
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TRST Trustpilot Group PLC
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HVPE HarbourVest Global Private …
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IWG IWG PLC
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FUTR Future PLC
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EXPN Experian PLC
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ROR Rotork PLC
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VLG Venture Life Group PLC
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HICL HICL Infrastructure Company…
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TRN Trainline Plc
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CHRY Chrysalis Investments Ltd
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DRX Drax Group PLC
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NAVF Nippon Active Value Fund Plc
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QQ. QQ.
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AHT Ashtead Group PLC
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IGC India Capital Growth Fund
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GMR Gaming Realms plc
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STEM SThree plc
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KNOS Kainos Group PLC
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EDIN Edinburgh Investment Trust
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LMP LondonMetric Property Plc
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Form 8 (OPD) - LondonMetric Property PLC

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GAMA Gamma Communications PLC
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FEVR Fevertree Drinks Plc
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HOME
HOME Home REIT Ltd
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Annual Financial Report

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NCC
NCC NCC Group plc
06:01
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KOS Kosmos Energy Ltd
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Sale of Equatorial Guinea Production Assets

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MRO Melrose Industries PLC
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PAY PayPoint plc
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IGE Image Scan Holdings Plc
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PRD Predator Oil & Gas Holdings…
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RKW Rockwood Realisation PLC
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ORCP Oracle Coalfields Plc
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AVG
AVG Avingtrans Plc
06:01
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Interim Results

**Summary of Avingtrans PLC Interim Results for the Six Months Ended 30 November 2025** **Financial Highlights:** - **Revenue:** Flat at £78.1 million (H1 2025: £79.0 million), in line with management expectations. - **Gross Margin:…

**Summary of Avingtrans PLC Interim Results for the Six Months Ended 30 November 2025**
**Financial Highlights**
**Revenue** Flat at £78.1 million (H1 2025: £79.0 million), in line with management expectations.
**Gross Margin** Increased to 31.7% (H1 2025: 30.0%) due to improved aftermarket (AM) mix in the AES division.
**Adjusted EBITDA** Grew by 10.4% to £9.6 million (H1 2025: £8.7 million), driven by reduced losses in the Medical and Industrial Imaging (MII) division.
**Adjusted Profit Before Tax** Rose by 27.1% to £5.7 million (H1 2025: £4.5 million).
**Adjusted Diluted Earnings Per Share** Increased to 14.6p (H1 2025: 12.0p).
**Cash Flow** Stronger operating cash inflow of £7.6 million (H1 2025: £4.9 million).
**Net Debt** Unchanged at £12.3 million, despite ongoing investments in Medical Imaging and new nuclear technology.
**Interim Dividend** Increased to 2.0 pence per share (H1 2025: 1.9 pence).
**Operational Highlights**
**Advanced Engineering Systems (AES) Division:**
Revenue slightly lower at £75.2 million (H1 2025: £76.8 million), with a focus on H2 weighting.
Strong performance by Hayward Tyler, driven by global growth in data centers and electrification of transport, particularly new nuclear power.
Hayward Tyler secured $16.0 million in new nuclear contracts with KHNP of South Korea.
Ormandy benefited from growth in AI and data center infrastructure.
Booth won £8.5 million in contracts with HS2 and TfL.
Recovery at Slack and Parr continuesthough impacted by US tariffs.
**Medical and Industrial Imaging (MII) Division:**
Revenue increased by 33.0% to £2.9 million (H1 2025: £2.2 million) as product rollout gains momentum.
LBITDA loss reduced to £0.8 million (H1 2025: £1.7 million loss).
Adaptix received 510(k) approval from the US FDA, enabling orthopaedic system sales.
Magnetica expects to submit 510(k) approval in H2 2026.
SciMag saw increased orders for quantum computing-related systems.
**Current Trading & Outlook**
AES order book secured to achieve 95%+ of FY26 market expectations, providing strong visibility.
Increased global energy demand, driven by AI and data centers, is creating opportunities for AES businesses.
MII is entering a key phase with Adaptix sales ramping up and Magnetica regulatory approval expected in H2 2026.
The Board is confident about achieving market expectations for FY26.
**Chairman’s Statement**
Strong H1 performance from AES primes the Group for full-year expectations.
MII sales are building momentum, particularly with Adaptix’s 510(k) approval enabling US sales.
Continued investment in AES and MII, with a focus on maximizing shareholder value through the PIE (Pinpoint-Invest-Exit) strategy.
Prudent debt management and strategic M&A opportunities remain key priorities.
**Strategic Focus**
AES division focuses on nuclearthermaland hydrocarbon marketswith a strong aftermarket emphasis.
MII division targets compact MRI and 3D X-ray solutions for niche markets.
Ongoing commitment to sustainabilityinnovationand operational efficiency.
**Conclusion**
Avingtrans PLC delivered a robust H1 performance, with strategic investments and operational improvements positioning the Group for continued growth. The Board remains confident in achieving FY26 targets and long-term value creation.
Here’s an HTML table comparing the financials and debt year on year for Avingtrans PLC based on the provided text:
MetricH1 2025 (£'000)H1 2024 (£'000)Change
Revenue78,10379,017-1.16%
Gross Profit24,76923,717+4.44%
Adjusted EBITDA9,6008,700+10.34%
Adjusted Profit Before Tax5,7004,500+26.67%
Cash Inflow from Operating Activities7,6004,900+55.10%
Net Debt (excl. IFRS16)12,30012,3000.00%
Interim Dividend (pence per share)2.01.9+5.26%
### Explanation: 1. **Revenue**: Slightly decreased by 1.16% from £79.0m in H1 2024 to £78.1m in H1 2025. 2. **Gross Profit**: Increased by 4.44% from £23.7m to £24.8m. 3. **Adjusted EBITDA**: Increased by 10.34% from £8.7m to £9.6m. 4. **Adjusted Profit Before Tax**: Increased by 26.67% from £4.5m to £5.7m. 5. **Cash Inflow from Operating Activities**: Increased by 55.10% from £4.9m to £7.6m. 6. **Net Debt (excl. IFRS16)**: Remained unchanged at £12.3m. 7. **Interim Dividend**: Increased by 5.26% from 1.9 pence to 2.0 pence per share. This table provides a clear year-on-year comparison of key financial metrics and debt for Avingtrans PLC.
Open Terminal Source RNS
CAPD
CAPD Capital Drilling Ltd
06:01
Market

Contracts Update

**Summary:** Capital Limited (LSE: CAPD), a leading mining services company, announced significant contract developments across its drilling, mining, and laboratory operations on February 25, 2026. Key highlights include: 1. **Waste Stri…

**Summary**
Capital Limited (LSECAPD), a leading mining services company, announced significant contract developments across its drilling, mining, and laboratory operations on February 25, 2026. Key highlights include
1. **Waste Stripping Contract at Sukari Gold Mine**: An 18-month contract with AngloGold Ashanti in Egypt, utilizing existing and newly purchased equipment, starting Q1 2026.
2. **Grade Control Drilling Contract with Montage Gold**: A 5-year contract at the Koné Gold Project in Côte dIvoire, with mobilization beginning in Q2 2026.
3. **MSALABS Laboratory Contract with Equinox Gold**: A 5-year contract for the Valentine Project in Newfoundland, Canada, supporting the construction of a new commercial laboratory with PhotonAssayTM technology.
Additional recent awards include MSALABS contracts with Montage Gold, IAMGOLD, and the construction of a second laboratory in Côte dIvoire. The company also secured smaller contract extensions and additions across its drilling and laboratory services.
Executive Chairman Jamie Boyton emphasized the strong demand environment and the strategic deployment of recently raised funds to support growth. Further details, including 2026 guidance, will be provided during the FY2025 results announcement on March 19, 2026.
Capital Limited operates globally, offering drilling, mining, maintenance, and geochemical laboratory services across multiple countries. This update was released via RNS, the London Stock Exchanges news service.
NewContract
Open Terminal Source RNS
EYE
EYE Eagle Eye Solutions Group p…
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
SKA
SKA Shuka Minerals Plc
06:01
Market

Results of Field Samples at Kabwe Mine

Open Terminal Source RNS
AZN
AZN AstraZeneca PLC
06:01
Market

Filing of Form 20-F with SEC

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IFRX
IFRX IFRX
06:01
Market

Admission to trading on the London Stock Exchange

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FIL
FIL Fairview International PLC
06:01
Market

Trading update and business review

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SMSN
SMSN Samsung Electronics Co. Ltd
06:01
Market

Replacement of Reference Material for 2026 AGM

Open Terminal Source RNS
FH03
FH03 FH03
06:01
Market

Doc re. 10-K

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87UO
87UO 87UO
06:01
Market

Publication of Final Terms - Covered Bond issuance

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GCG
GCG Golden Rock Global Plc
06:01
Market

Cancellation of Convertible Loan Notes

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93TH
93TH 93TH
06:01
Market

Issue of Debt

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93TH
93TH 93TH
06:01
Market

Issue of Debt

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VEIL
VEIL Vietnam Enterprise Investme…
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
HSBA
HSBA HSBC Holdings PLC
06:01
Market

HSBC Holdings 2025 Results

**Summary of HSBC Holdings 2025 Results** HSBC Holdings PLC reported strong financial performance for 2025, marked by decisive actions and strategic execution across its four core businesses: Hong Kong, UK, Corporate and Institutional Ban…

**Summary of HSBC Holdings 2025 Results**
HSBC Holdings PLC reported strong financial performance for 2025, marked by decisive actions and strategic execution across its four core businesses: Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB).
**Key Highlights**
**Financial Performance** Reported profit before tax decreased slightly to $29.9 billion, primarily due to notable items. However, constant currency profit before tax excluding notable items rose to $36.6 billion, driven by strong performances in Wealth and Wholesale Transaction Banking.
**Revenue Growth** Revenue increased by 4% to $68.3 billion, with constant currency revenue excluding notable items rising to $71.0 billion. This growth was led by fee and other income in Wealth and Wholesale Transaction Banking.
**Return on Tangible Equity (RoTE)** RoTE was 13.3%, and excluding notable items, it increased to 17.2%, surpassing the mid-teens target.
**Strategic Targets** HSBC raised its ambition, targeting a 17% RoTE or better from 2026 to 2028, excluding notable items, and year-on-year revenue growth, rising to 5% in 2028.
**Dividends and Shareholder Returns** The Board approved a fourth interim dividend of $0.45 per share, bringing the total dividend for 2025 to $0.75 per share. Total shareholder return exceeded 57%, including a 49% increase in share price.
**Operational Efficiency** HSBC achieved $1.5 billion in organizational simplification savings, six months ahead of schedule, and is targeting further cost reallocation to support growth.
**Sustainability** HSBC remains committed to becoming a net-zero bank by 2050 and provided $102 billion in sustainable finance and investment in 2025, on track to meet its $750 billion to $1 trillion target by 2030.
**Leadership Changes** Brendan Nelson succeeded Sir Mark Tucker as Group Chairman, and Wei Sun Christianson joined as an independent non-executive Director.
**Outlook**
HSBC anticipates global economic expansion in 2026, supported by trade growth and AI-driven investments. The bank expects banking net interest income of at least $45 billion, ECL charges around 40 bps, and target basis operating expense growth of approximately 1%. HSBC is committed to maintaining its CET1 capital ratio within the 14%-14.5% range and sustaining its dividend payout ratio at 50%.
**Strategic Focus**
**Simplification and Agility** HSBC continues to streamline its operations, aiming for a simpler, more agile structure to enhance customer responsiveness.
**Growth Investments** The bank is investing in technology, wealth management, and digital innovation to drive growth and improve customer experiences.
**Sustainability Leadership** HSBC is actively supporting customers transition to net zero and expanding its sustainable finance offerings.
Overall, HSBCs 2025 results reflect robust performance, strategic discipline, and a clear focus on sustainable growth, positioning the bank well for future opportunities in a dynamic global environment.
Here is the HTML table code comparing the financials and debt year on year for HSBC Holdings based on the provided text:
Metric20252024Change
Profit before tax ($m)29,90732,309(7%)
Profit after tax ($m)23,13124,999(7%)
Revenue ($m)68,27465,8544%
Net interest income ($m)34,79432,7336%
Customer lending balances ($m)988,399930,6586%
Customer accounts ($m)1,786,8281,654,9558%
Common equity tier 1 capital ratio (%)14.914.90%
Total regulatory capital ($m)182,371172,3866%
Risk-weighted assets ($m)888,647838,2546%
Leverage ratio (%)5.35.6(5%)
**Notes:** * The table compares key financials and debt metrics for HSBC Holdings between 2025 and 2024. * The "Change" column shows the percentage change between the two years. * The data is extracted from the provided text, which is HSBC Holdings' 2025 Results announcement. * The table focuses on the most relevant metrics for comparing financials and debt year on year. This table provides a concise overview of HSBC Holdings' financial and debt performance, highlighting areas of growth and decline between 2025 and 2024.
Open Terminal Source RNS
93TH
93TH 93TH
06:01
Market

Issue of Debt

Open Terminal Source RNS
93TH
93TH 93TH
06:01
Market

Issue of Debt

Open Terminal Source RNS
93TH
93TH 93TH
06:01
Market

Issue of Debt

Open Terminal Source RNS
CCT
CCT Character Group
06:01
Market

Transaction in Own Shares and Total Voting Rights

Open Terminal Source RNS
OXIG
OXIG Oxford Instruments PLC
06:01
Market

Transaction in Own Shares

Open Terminal Source RNS
PAF
PAF Pan African Resources PLC
06:01
Market

Holding(s) in Company

TR1 Buy

TR1 Buy
['Peregrine Capital (Pty) Ltd', '4.69', '5.65']
Open Terminal Source RNS
IGET
IGET Invesco Perpetual Select Tr…
06:01
Market

Half-year Financial Report

**Summary of Invesco Global Equity Income Trust PLC Half-Yearly Financial Report (Six Months Ended 30 November 2025)** **Overview** Invesco Global Equity Income Trust PLC (IGET) reported its half-yearly financial results for the six m…

**Summary of Invesco Global Equity Income Trust PLC Half-Yearly Financial Report (Six Months Ended 30 November 2025)**
**Overview**
Invesco Global Equity Income Trust PLC (IGET) reported its half-yearly financial results for the six months ended 30 November 2025, highlighting key developments, financial performance, and strategic initiatives. The period was marked by a proposed merger with Franklin Global Trust plc (FRGT), strong share sales, and continued focus on delivering income and capital appreciation.
**Key Highlights**
1. **Proposed Merger with FRGT**A merger with FRGT was announced, with 96% of FRGT shareholders electing to rollover into IGET. This is expected to increase IGET’s net assets to approximately £460 million, enhance liquidity, and reduce ongoing charges.
2. **Share Sales and Premium**£35.2 million was raised through sales of treasury shares, with an average share price premium to NAV of 1.9%.
3. **Yield and Performance**The yield at period end was 3.7%, compared to the benchmark index yield of 1.6%. NAV total return was 8.6%, and share price total return was 9.3%, though both lagged the benchmark index return of 16.5% due to momentum-driven markets.
4. **Awards and Recognition**IGET won the Best International Trust at the Citywire Investment Trust Awards for the third consecutive year and the Global Income category at the Investment Week Investment Company of the Year Awards.
**Financial Performance**
**Net Asset Value (NAV)**Increased by 22.9% to £260.9 million.
**NAV per Share**Rose by 6.6% to 359.77p.
**Share Price**Increased by 7.3% to 367.00p.
**Gearing**: Net gearing was nilwith net cash at 1.6%.
**Investment Strategy**
IGET’s valuation-focused strategy faced challenges in momentum-driven markets but maintained strong long-term performance. The portfolio managers emphasized disciplined, bottom-up valuation, positioning the portfolio for diverse outcomes. Key contributors included ASML, Standard Chartered, and Rolls-Royce, while detractors included 3i and Novo-Nordisk.
**Dividends and Revenue**
Net revenue return per share was 2.02p.
Two interim dividends of 3.375p each were paid, with a projected annualised dividend of 13.50p per share for the year ending 31 May 2026.
**Post-Period Updates**
Net assets increased to £301 million post-period end.
NAV and share price total returns were +7.0% and +7.5%, respectively, outperforming the benchmark’s +1.8%.
Additional £25.5 million was raised through treasury share sales.
**Governance and Outlook**
Johnston Carmichael LLP was appointed as the new external auditor following a competitive tender process.
The global economic outlook for 2026 includes modest growth, lower interest rates, and fiscal stimulus, creating a balanced opportunity set for IGET’s global mandate.
**Conclusion**
IGET demonstrated resilience in a challenging market environment, with strategic initiatives like the FRGT merger poised to enhance scale and efficiency. The trust remains committed to its valuation-driven approach, aiming to deliver long-term income and capital growth for shareholders.
Below is an HTML table comparing the financials and debt year on year for INVESCO GLOBAL EQUITY INCOME TRUST PLC based on the provided text:
Metric30 November 202531 May 2025Change
Net Assets (£’000)260,921212,28322.9%
NAV per Share (pence)359.77337.366.6%
Share Price (pence)367.00342.007.3%
Premium per Ordinary Share (%)2.0%1.4%0.6%
Gross Gearing (%)nil1.2%-1.2%
Net Gearing (%)nil0.0%0.0%
Net Cash (%)1.6%nil1.6%
Net Return Before Finance Costs and Taxation (£’000)18,29421,106-13.3%
Return After Taxation (£’000)18,05620,904-13.6%
Basic Return per Ordinary Share (pence)26.6233.17-19.7%
Cash and Cash Equivalents (£’000)4,0472,61854.6%
Bank Facility (£’000)02,650-100%
### Key Observations: 1. **Net Assets and NAV per Share**: Both increased significantly year on year, with net assets up by 22.9% and NAV per share up by 6.6%. 2. **Share Price and Premium**: Share price increased by 7.3%, and the premium per ordinary share rose from 1.4% to 2.0%. 3. **Gearing and Net Cash**: Gross gearing decreased to nil, and net cash increased to 1.6%, indicating a reduction in debt and an increase in cash holdings. 4. **Returns**: Net return and return after taxation decreased year on year, reflecting lower performance in the period. 5. **Cash and Bank Facility**: Cash and cash equivalents increased significantly, while the bank facility was fully repaid, reducing debt exposure. This table provides a clear comparison of key financial metrics and debt levels between the two periods.
Open Terminal Source RNS
87FZ
87FZ AECI Ltd
06:01
Market

Reviewed condensed consolidated financial results and cash dividend declaration for the year ended 31 December 2025

**Summary of AECI Limiteds Financial Results for the Year Ended 31 December 2025** AECI Limited reported strong financial and operational performance for the year ended 31 December 2025, driven by disciplined pricing, cost management, a…

**Summary of AECI Limiteds Financial Results for the Year Ended 31 December 2025**
AECI Limited reported strong financial and operational performance for the year ended 31 December 2025, driven by disciplined pricing, cost management, and strategic focus on core fundamentals. Key highlights include
1. **Financial Performance**
Revenue from continuing operations declined by 4% to R32.183 billion, while EBITDA increased by 12% to R3.412 billion.
Profit from continuing operations dipped slightly by 1% to R1.530 billion, but earnings per share (EPS) from continuing operations rose by 36% to 357 cents per share (cps), and headline earnings per share (HEPS) surged by 53% to 1,098 cps.
Net debt significantly reduced from R3.738 billion in 2024 to R465 million, with gearing dropping to 4% from 31%.
2. **Dividend Declaration**
A final cash dividend of 128 cps was declared, bringing the total dividend for the year to 228 cps, compared to 219 cps in 2024.
3. **Segment Performance**
**AECI Mining**Delivered a record EBITDA of R2.722 billion (up from R2.284 billion in 2024), with margins improving to 15%, driven by cost-efficiency initiatives and favorable product mix in Asia-Pacific.
**AECI Chemicals**Revenue increased to R10.306 billion, but EBITDA declined to R924 million due to pricing pressures and credit losses. However, free cash flow generation was strong at 133%.
4. **Strategic Achievements**
Realized R2.2 billion from the disposal of non-core assets.
Improved safety performance, with a 35% reduction in the Total Recordable Injury Rate (TRIR) to 0.20, and no fatalities reported.
5. **Management Commentary**
The Interim Group CEO highlighted the Group’s progress in strengthening its long-term position, particularly the outstanding performance of AECI Mining and AECI Chemicals.
6. **Future Outlook**
AECI remains committed to delivering long-term value for stakeholders by focusing on strategic fundamentals and leveraging core competencies.
The full reviewed condensed consolidated financial results are available on the JSE cloud link and the Company’s website. The Board confirmed compliance with JSE Listings Requirements, and the results were reviewed by Deloitte & Touche with an unmodified conclusion.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
Revenue from Continuing Operations (R million)33,54632,183-4%
EBITDA from Continuing Operations (R million)3,0463,412+12%
Profit from Continuing Operations (R million)1,5451,530-1%
EPS from Continuing Operations (cps)262357+36%
HEPS (cps)7181,098+53%
Total Dividend (cps)219228+4%
Net Debt (R million)3,738465-87%
Gearing Ratio (%)31%4%-27%
Net Debt to EBITDA (times)1.20.1-92%
AECI Mining EBITDA (R million)2,2842,722+19%
AECI Chemicals EBITDA (R million)972924-5%
AECI Chemicals Free Cash Flow (R million)9171,233+34%
### Explanation: - **Metrics**: Key financial and debt metrics are compared year-on-year (2024 vs. 2025). - **Change**: Percentage change is calculated based on the provided data. - **Formatting**: The table is styled with borders and alignment for readability. This table provides a clear comparison of the financial and debt performance of AECI Limited between 2024 and 2025.
Open Terminal Source RNS
AYM
AYM Anglesey Mining
06:01
Market

Completion of £4 million Debt Settlement Agreement

Open Terminal Source RNS
DIVI
DIVI Diverse Income Trust Ord
06:01
Market

Update on the Future of the Company

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MOON
MOON Moonpig Group PLC
06:01
Market

Transaction in Own Shares

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OSB
OSB OneSavings Bank PLC
06:01
Market

OSB GROUP PLC - Transaction in Own Shares

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FSG
FSG Foresight Group Holdings Li…
06:01
Market

Transaction in Own Shares

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AMRQ
AMRQ Amaroq Minerals Ltd.
06:01
Market

Framleiðslumarkmið og afkomuspá ársins 2026

Open Terminal Source RNS
NBPE
NBPE NB Private Equity Partners …
06:01
Market

NBPE Announces Transaction in Own Shares

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ICGT
ICGT ICG Enterprise Trust PLC
06:01
Market

Transaction in Own Shares

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IGN
IGN AB Ignitis grupe
06:01
Market

Ignitis Group has agreed to sell 49% of its shares in Vilnius CHP

Open Terminal Source RNS
AMRQ
AMRQ Amaroq Minerals Ltd.
06:01
Market

2026 Production and Financial Guidance and Exploration Update

Open Terminal Source RNS
PSH
PSH Pershing Square Holdings Ltd
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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0MGE
0MGE Sydbank
05:54
Market

Forventninger 2026 og nyt Aktietilbagekøb

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0MGE
0MGE Sydbank
05:54
Market

Outlook for 2026 and new share buyback

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0MGE
0MGE Sydbank
05:52
Market

Notice convening the Annual General Meeting

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0MGE
0MGE Sydbank
05:52
Market

Indkaldelse til ordinær generalforsamling

Open Terminal Source RNS

Digested News

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

IEM logo
Latest RNS 16:12
IEM

Holding(s) in Company

Impax Environmental Markets PLC

TR1 Buy
['Bank of America Corporation', '0.000000', '0.000000']
FCM logo
Latest RNS 15:53
FCM

Holding(s) in Company

First Class Metals PLC

<mark style="background-coloryellow">TR1</mark> Buy
['Anthony Charles Harris', 'reached', 'Position of previous']
TIR logo
Latest RNS 15:31
TIR

Holding(s) in Company

Tiger Royalties and investments Plc

TR1 Buy
['Spreadex LTD', '7.020400', '5.140900']
SST logo
Latest RNS 15:28
SST

Holding(s) in Company

The Scottish Oriental Smaller Companies Trust plc

TR1 Buy
['City of London Investment Management Company Limited', '16.004000', '15.004000']
BGUK logo
Latest RNS 15:09
BGUK

Holding(s) in Company

Baillie Gifford UK Growth Fund PLC

TR1 Buy
['City of London Investment Management Company Limited', '16.010000', '15.010000']
TRCS logo
Latest RNS 15:02
TRCS

Holding(s) in Company

Tracsis Plc

TR1 Buy
['Rathbones Investment Management Ltd', '11.991900', '12.994300']
AHT logo
Latest RNS 14:35
AHT

U.S. Listing Update - Approval and Publication of UK Prospectus and Details of Anticipated New York and London Listings

Ashtead Group PLC

**Summary**
Sunbelt Rentals Holdings, Inc., a subsidiary of Ashtead Group plc, announced on February 25, 2026, that its prospectus for a proposed secondary listing in London has been approved by the U.K. Financial Conduct Authority (FCA). The company also received authorization from the New York Stock Exchange (NYSE) for its listing application, contingent on the effectiveness of its Form 10 registration statement and meeting standard listing requirements. The Form 10 will become effective on February 26, 2026, with trading expected to begin on March 2, 2026, on both the London Stock Exchange (LSE) and NYSE under the ticker symbol "SUNB." Shares will trade in U.S. Dollars on the NYSE and in pound sterling (via depositary interests) on the LSE. The prospectus will be available on Ashtead Groups website and, from March 2, on Sunbelt Rentals investor relations site, as well as through the National Storage Mechanism. This announcement does not constitute an offer to sell or buy securities, and further updates will be provided as needed. Contact details for investor relations representatives from both Ashtead Group and Sunbelt Rentals are included.
Approvals
IPF logo
Latest RNS 14:30
IPF

Holding(s) in Company

International Personal Finance PLC

TR1 Buy
['HSBC Holdings plc', '9.994000', '10.006000']
IPF logo
Latest RNS 14:26
IPF

Form 8.3

International Personal Finance PLC

IPF logo
Latest RNS 13:02
IPF

Form 8.3

International Personal Finance PLC

USA logo
Latest RNS 08:34
USA

Holding(s) in Company

Baillie Gifford US Growth Trust PLC

TR1 Buy
['Bank of America Corporation', '3.119707', '2.517370']
BGEU logo
Latest RNS 08:32
BGEU

Holding(s) in Company

Baillie Gifford European Growth Trust PLC

TR1 Buy
['Allspring Global Investments Holdings.', '22.010000', '21.031000']
IGN logo
Latest RNS 06:35
IGN

Integrated Annual Report 2025: record strategic progress with +0.7 GW of new green capacities installed, completed mass smart meter roll-out, and Adjusted EBITDA beat

AB Ignitis grupe

**Summary of AB "Ignitis grupė" Integrated Annual Report 2025**
AB "Ignitis grupė" reported strong strategic and financial progress in its 2025 Integrated Annual Report, highlighting record achievements across key areas
1. **Financial Performance**
**Adjusted EBITDA** reached €546.1 million (+3.4% YoY), surpassing the upper end of the guidance range (€510–540 million), driven by robust performance in Green Capacities and Networks segments.
**Investments** totaled €720.3 million (-11.3% YoY), within guidance, with 53.1% allocated to Networks and 39.7% to Green Capacities, focusing on solar, onshore wind, and Kruonis PSHP expansion projects.
**Net Debt** increased to €1,912.0 million (+18.6% YoY) due to continued investments, while **FFO/Net Debt** decreased to 21.0% (from 29.7% in 2024) due to temporary regulatory differences. S&P Global Ratings reaffirmed the ‘BBB+’ credit rating with a stable outlook.
2. **Business Development**
**Green Capacities**Installed capacity grew to 2.1 GW (+0.7 GW), with key projects reaching COD, including Kelmė WF (313.7 MW) in Lithuania and Silesia WF II (136.8 MW) in Poland. Final Investment Decisions were made for three BESS projects in Lithuania.
**Networks**Completed a mass smart meter roll-out with 1.3 million installations. A 10-year (€3.5 billion) Investment Plan was aligned with the regulator (NERC).
**Reserve Capacities**Won Polish capacity mechanism auctions for 381 MW (Q1 2026), 484 MW (Q4 2026), and 148 MW (2030).
**Customers & Solutions**Signed a 7-year PPA with Litgrid at €74.5/MWh for up to 160 GWh/year and expanded EV charging infrastructure with 1,799 charging points (+708 YoY).
3. **Sustainability**
**Green Share of Generation** decreased to 70.2% (-11.3 pp YoY) due to higher electricity generation at Elektrėnai Complex.
**GHG Emissions** rose to 4.49 million t CO2-eq (+10.1% YoY), with Scope 1 emissions increasing by 54.7% YoY due to Elektrėnai Complex operations.
**Carbon Intensity** increased to 248 g CO2-eq/kWh (+24.5% YoY) due to intensified natural gas usage.
Recognized for leadership in corporate transparency and climate action, securing a place on CDP’s Climate A List (top 4% of companies).
4. **Shareholder Returns and 2026 Outlook**
Proposed dividend of €1.366 per share (+3.0% YoY), totaling €98.9 million, representing a 6.2–6.4% yield.
**2026 Guidance**Adjusted EBITDA of €550–600 million and Investments of €590–690 million.
5. **Key Financial Indicators**
Adjusted EBITDA Margin decreased to 21.3% (-1.6 pp YoY).
Net Debt/Adjusted EBITDA increased to 3.50 times (+14.8% YoY).
EPS declined to €2.26 (-40.8% YoY)while DPS rose to €1.37 (+3.0% YoY).
6. **Earnings Call**Scheduled for February 25, 2026, at 1:00 pm Vilnius time, with registration and materials available online.
Overall, 2025 marked significant progress in green energy expansion, network modernization, and strategic investments, despite sustainability and financial metric challenges.
Below is the HTML table code comparing the key financial and debt metrics year-on-year for AB "Ignitis grupė" based on the provided text:
Metric2025 (EUR, millions)2024 (EUR, millions)Change
Adjusted EBITDA546.1527.93.4%
Investments720.3812.0-11.3%
Net Debt1,912.01,612.318.6%
FFO400.9478.6-16.2%
FFO/Net Debt21.0%29.7%-8.7 pp
Net Debt/Adjusted EBITDA3.503.0514.8%
Dividend per Share (DPS)1.371.333.0%
Net Profit163.9276.2-40.7%
EPS2.263.82-40.8%
### Explanation: - **Adjusted EBITDA**: Increased by 3.4% YoY, driven by stronger performance in Green Capacities and Networks segments. - **Investments**: Decreased by 11.3% YoY due to several projects reaching COD. - **Net Debt**: Increased by 18.6% YoY due to significant investments in Networks and Green Capacities. - **FFO**: Decreased by 16.2% YoY, leading to a decline in FFO/Net Debt ratio. - **Dividend per Share (DPS)**: Increased by 3.0% YoY, in line with the Dividend Policy. - **Net Profit and EPS**: Both decreased significantly YoY, reflecting lower operating profit and adjusted net profit. This table provides a concise comparison of key financial and debt metrics for 2025 and 2024.
GLB logo
Latest RNS 06:31
GLB

Glanbia launches share buyback

Glanbia plc

**Summary**
Glanbia plc, the Better Nutrition company, announced on February 25, 2026, the launch of a share buyback program valued up to €50 million. The program aims to reduce the companys share capital by repurchasing and canceling ordinary shares. It will run from February 25, 2026, to September 30, 2026, unless terminated earlier, and is part of a larger €100 million buyback initiative. J&E Davy (Davy) will act as the principal for share purchases, operating independently within pre-set parameters. The buyback will initially be conducted under the authority granted at the 2025 Annual General Meeting (AGM), allowing repurchase of up to 10% of issued share capital (13,865,688 shares post-previous buybacks). Continuation beyond April 29, 2026, is contingent on shareholder approval at the 2026 AGM. The program complies with Euronext Dublin Listing Rules, EU Market Abuse Regulations, and Central Bank of Ireland guidelines. Glanbia confirmed it holds no unpublished inside information. Contact details for key executives and Davy representatives were provided.
Launch
EARN logo
Latest RNS 06:09
EARN

Significant new contracts wins endorse position

EARNZ plc

**Summary**
EARNZ plc, a leading UK energy services provider, announced two significant contract wins on February 25, 2026, reinforcing its strategic position in the market. The contracts align with the company’s goal of building long-term partnerships with Tier 1 clients in both public and private sectors, focusing on residential and non-residential property portfolios.
1. **A&D Carbon Solutions Contract**
Awarded by Fortem, on behalf of Sanctuary Housing, for a two-year project in Stoke-on-Trent and Chester.
Services include retrofit insulationventilation upgradesand renewable energy solutions.
Expected annual revenue£2.6 million, with potential extension for 12-18 months.
Delivered via EARNZ’s subsidiaryNational Retrofit Solutionsbased in Stafford.
2. **Warm Low Living Contract**
Commissioned by a consortium of Social Housing Providers in Yorkshire.
Focused on energy efficiency improvements for over 175 properties.
Project durationApril 2026 to March 2028, generating £2.1 million in revenue.
These wins follow previous successes in 2025, including contracts with Bradford Metropolitan Borough Council and Equans. CEO Peter Smith emphasized the contracts’ significance in endorsing EARNZ’s market leadership and contributing to energy efficiency, cost reduction, and improved living conditions for residents.
**Key Contacts**
EARNZ plcPeter Smith and Elizabeth Lake
Nominated Adviser and BrokerZeus Capital Limited
Financial PRCamarco
The announcement was released via RNS, the London Stock Exchange’s news service, and complies with UK regulatory requirements.
NewContract
IPF logo
Latest RNS 06:06
IPF

2025 Final Results and Accounts

International Personal Finance PLC

**Summary of International Personal Finance Plcs 2025 Final Results and Accounts**
**Overview**
International Personal Finance (IPF) reported strong financial and strategic progress for the year ended 31 December 2025, driven by robust operational delivery and its Next Gen strategy. The Group achieved pre-exceptional profit before tax of £88.6 million (2024: £85.2 million), supported by increased customer numbers, lending growth, and improved credit quality. A final dividend of 9.0 pence per share was proposed, bringing the full-year dividend to 12.8 pence per share.
**Key Financial Highlights**
**Customer Growth**Customer numbers increased by 4.7% to 1.7 million, marking the first year of growth in a decade.
**Lending and Receivables**Customer lending grew by 11.8% to £1,342.0 million, and closing net receivables increased by 13.9% to £1,061.3 million.
**Credit Quality**The impairment rate improved to 9.0% (2024: 9.6%), reflecting robust customer repayment performance.
**Dividend**A 12.5% increase in the final dividend to 9.0 pence per share, with a full-year dividend of 12.8 pence per share.
**Strategic Progress**
**Next Gen Strategy**Significant advancements in product expansion, digital capabilities, and operational efficiency.
**Product Innovation**Launched ProviSmart credit cards in Poland and a pilot in Romania, expanded retail partnerships, and introduced short-term loan products in Mexico and Poland.
**Geographic Expansion**Opened new branches in Monterrey and Ensenada, Mexico.
**Technology and Data**Invested £35.2 million in technology to enhance customer experience, automation, and data-driven decision-making.
**Proposed Acquisition by BasePoint**
The Board recommended a proposed acquisition by IPF Parent Holdings Limited (BasePoint) at an increased offer value of 250 pence per share, inclusive of a 15 pence per share special dividend. This represents a 40% premium to the closing price on 29 July 2025.
**CEO Commentary**
Gerard Ryan, CEO, highlighted the Groups accelerated growth and strategic execution, emphasizing improved customer demand, disciplined operations, and strong credit quality. He noted the Groups strong funding position and commitment to financial inclusion.
**Outlook**
IPF expects to sustain growth momentum in 2026, supported by robust credit quality, a strong balance sheet, and continued investment in key markets like Mexico and Australia. An additional £5 million per annum will be invested in new initiatives over the next two to three years to drive medium-term performance.
**Financial Review**
**Divisional Performance**Provident Europe, Provident Mexico, and IPF Digital all delivered strong growth in customer lending and receivables.
**Revenue and Costs**Revenue yield decreased slightly to 52.5%, while the cost-income ratio remained stable at 61.1%.
**Returns**Pre-exceptional RoRE moderated to 14.9%, reflecting investments in growth initiatives.
**Regulatory Update**
IPF continues to monitor and adapt to regulatory changes, particularly the implementation of the second Consumer Credit Directive (CCD II) across European markets.
**Conclusion**
IPFs 2025 results reflect strong operational and financial performance, underpinned by strategic initiatives and a focus on financial inclusion. The proposed acquisition by BasePoint marks a significant milestone, offering shareholders attractive value. The Group remains well-positioned for sustainable growth and continued progress toward its long-term goals.
Here is the comparison of financials and debt year on year presented as an HTML table:
MetricFY-25 (£m)FY-24 (£m)YoY Change (£m)YoY Change (%)
Customer numbers (000s)1,7291,652774.7%
Customer lending (£m)1,342.01,214.5127.510.5%
Closing net receivables (£m)1,061.3870.0191.322.0%
Pre-exceptional PBT (£m)88.685.23.44.0%
Statutory PBT (£m)85.373.312.016.4%
Full-year dividend per share (pence)12.811.41.412.3%
TNAV per share (£)2.141.870.2714.4%
Revenue (£m)737.5726.311.21.5%
Impairment (£m)(126.8)(127.5)0.70.5%
Interest expense (£m)(71.3)(70.4)(0.9)(1.3%)
Total debt facilities (£m)750656.993.114.2%
Net borrowings (£m)621515.9105.120.4%
Equity to receivables ratio (%)51%54%(3%)(5.6%)
**Notes:** * The table includes key financial metrics and debt-related figures for FY-25 and FY-24. * The YoY Change columns show the difference between FY-25 and FY-24 values. * The percentage changes are calculated based on the FY-24 values. * Debt-related figures are derived from the "Funding and balance sheet" section of the provided text. * The equity to receivables ratio is calculated as Total Equity / Amounts receivable from customers.
AML logo
Latest RNS 06:01
AML

Preliminary Results FY2025

Aston Martin Lagonda Global Holdings PLC

**Summary of Aston Martin Lagonda Global Holdings PLC Preliminary Results for FY2025**
**Overview**
Aston Martin Lagonda Global Holdings PLC (AML) reported preliminary results for FY2025, highlighting challenges in a difficult trading environment while achieving operational milestones. Despite external pressures, the company focused on product launches, operational transformation, and cost management.
**Key Financial Highlights**
**Revenue** Declined by 21% to £1,257.7 million due to lower wholesale volumes and fewer high-margin Specials.
**Gross Profit** Fell by 37% to £369.8 million, with a gross margin of 29.4%, impacted by tariffs, lower Specials, and increased warranty costs.
**Adjusted EBIT Loss** Widened to £189.2 million from £82.8 million in FY2024, reflecting lower gross profit and operational challenges.
**Net Debt** Increased to £1,380.3 million from £1,162.7 million, with liquidity at £250 million, supported by improved cash collections and the proposed sale of naming rights to AMR GP for £50 million.
**Operational Achievements**
**Product Launches** Commenced production of the Valhalla mid-engined PHEV supercar, delivering 152 units in Q4 2025, contributing to sequential ASP growth.
**Core ASP** Increased by 5% to £185,000, driven by new core model derivatives.
**Cost Management** Reduced SG&A and CAPEX, partially offsetting external challenges.
**Strategic Initiatives**
**Transformation Programme** Ongoing initiatives to enhance operational efficiency and reduce costs.
**Product Mix** Focus on an enhanced product mix, including the Valhalla and high-performance derivatives like the DBX S and Vanquish Volante.
**Market Demand** Strengthened customer engagement through global driving events, the Private Office for top clients, and the upcoming Q London flagship.
**Outlook for FY2026**
**Financial Performance** Expects material improvement driven by an enhanced product mix, transformation benefits, and disciplined operations.
**Wholesale Volumes** Similar to FY2025, with retail volumes outpacing wholesales.
**Gross Margin** Anticipated to improve to the high 30s%, supported by efficient production and Valhalla deliveries.
**Adjusted EBIT Margin** Expected to improve materially towards breakeven.
**Free Cash Flow** Significant improvement expected, with the majority of outflow in Q1 2026 and a material year-on-year improvement from Q2 onwards.
**CEO Commentary**
Adrian Hallmark emphasized navigating a challenging environment while delivering critical operational milestones. He highlighted the impact of geopolitical uncertainties and macroeconomic pressures but expressed confidence in the companys strategy and upcoming products to drive future success.
**Conclusion**
Despite a challenging FY2025, Aston Martin demonstrated resilience through operational achievements and strategic initiatives. The company is poised for a material improvement in FY2026, supported by an enhanced product mix, ongoing transformation, and disciplined operational focus.
Here is the HTML table code comparing the financials and debt year on year for Aston Martin Lagonda Global Holdings PLC:
MetricFY 2025FY 2024% Change
Revenue (£m)1,257.71,583.9(21%)
Gross Profit (£m)369.8583.9(37%)
Gross Margin (%)29.4%36.9%(750 bps)
Adjusted EBIT (£m)(189.2)(82.8)(129%)
Operating (Loss)/Profit (£m)(259.2)(99.5)(161%)
Loss Before Tax (£m)(363.9)(289.1)(26%)
Net Debt (£m)(1,380.3)(1,162.7)(19%)

Key Observations:

  • Revenue decreased by 21% from £1,583.9m in FY 2024 to £1,257.7m in FY 2025.
  • Gross profit declined by 37% from £583.9m in FY 2024 to £369.8m in FY 2025.
  • Gross margin decreased by 750 basis points from 36.9% in FY 2024 to 29.4% in FY 2025.
  • Adjusted EBIT loss widened by 129% from £(82.8)m in FY 2024 to £(189.2)m in FY 2025.
  • Net debt increased by 19% from £(1,162.7)m in FY 2024 to £(1,380.3)m in FY 2025.

Note: The negative values for net debt indicate a net debt position, while the negative values for adjusted EBIT and loss before tax indicate losses.

This table provides a clear comparison of the key financial metrics and debt position of Aston Martin Lagonda Global Holdings PLC for FY 2025 and FY 2024. The `% Change` column highlights the year-on-year changes, making it easy to identify areas of improvement or deterioration.
CNC logo
Latest RNS 06:01
CNC

Holding(s) in Company

Concurrent Technologies Plc

TR1 Buy
['CANACCORD GENUITY GROUP INC', '5.0139', '4.6270']
TRCS logo
Latest RNS 06:01
TRCS

Trading Update and North American Contract Win

Tracsis Plc

**Summary**
Tracsis PLC, a leading transport technology provider, released a trading update for the six months ended 31 January 2026 (H1 FY26), highlighting the following key points
1. **Financial Performance**H1 FY26 revenue is expected to be approximately £39 million (up from £36.3 million in H1 FY25), with adjusted EBITDA of around £5.0 million (up from £3.8 million in H1 FY25). This performance is in line with market expectations for the full year.
2. **Strategic Progress**The company continues to make progress against its strategic priorities, with revenue and margin growth in both divisions. Recurring license and consumer-driven transactional revenues also saw growth.
3. **North American Contract Win**Tracsis secured a new multi-year contract with a shortline freight railroad in North America to deploy its Train Dispatch software product. This win validates the competitiveness of their offering in the North American market and supports international diversification efforts.
4. **Balance Sheet and Cash Generation**The company maintains a strong balance sheet with healthy cash generation, reporting net cash of £25.8 million at H1 FY26 (up from £22.1 million in H1 FY25).
5. **Full-Year Expectations**The Board reiterates its expectations to deliver revenue and adjusted EBITDA in line with market expectations for the full year. The H1/H2 phasing of revenue is expected to follow historical trends, supported by recurring revenues, consumer-driven transactional revenues, and a significant confirmed orderbook.
6. **CEO Commentary**David Frost, CEO of Tracsis, expressed satisfaction with the H1 performance and highlighted the strategic importance of the North American contract win. He emphasized the companys alignment with long-term structural trends in the transport sector and its focus on executing its growth transformation strategy.
Overall, Tracsis remains well-positioned for long-term growth, supported by its robust financial performance, strategic contract wins, and alignment with industry trends.
NewContract
GSK logo
Latest RNS 06:01
GSK

GSK enters agreement to acquire 35Pharma

GSK plc

**Summary**
GSK plc announced on February 25, 2026, that it has entered into an agreement to acquire 35Pharma Inc., a Canadian clinical-stage biopharmaceutical company, for $950 million in cash. The acquisition includes HS235, a potentially best-in-class activin signaling inhibitor in clinical development for treating cardiopulmonary diseases, particularly pulmonary hypertension (PH). HS235 offers a differentiated profile by reducing the risk of bleeding and providing metabolic benefits, addressing key limitations of current PH therapies. The drug has completed Phase I trials and is set to begin studies in pulmonary arterial hypertension (PAH) and PH due to heart failure with preserved ejection fraction (PH-HFpEF).
PH affects approximately 82 million people globally, with limited treatment options and a five-year survival rate of around 50%. The global PH therapies market is projected to reach $18 billion by 2032, with activin signaling inhibitors expected to account for 50%. HS235’s mechanism targets the activin receptor pathway, reducing adverse events associated with current treatments, and offers additional metabolic benefits such as fat-selective weight loss and improved insulin sensitivity.
The acquisition strengthens GSK’s Respiratory, Immunology, and Inflammation (RI&I) portfolio, providing scalable opportunities to address metabolic, inflammatory, vascular, and fibrotic drivers of chronic diseases affecting the lung, liver, and kidney. The transaction is subject to regulatory approvals in the US and Canada and is expected to close pending customary conditions.
Agreement
MGNS logo
Latest RNS 06:01
MGNS

Results for the Full Year ended 31 December 2025

Morgan Sindall Group PLC

**Summary of Morgan Sindall Group PLCs Final Results for the Year Ended 31 December 2025**
Morgan Sindall Group PLC reported a strong performance for the full year ended 31 December 2025, with significant growth in adjusted profit before tax, up 35% to £233 million. The Group achieved record revenue of £5.0 billion, a 10% increase from the previous year, driven by robust performance across its divisions. Key highlights include
**Financial Performance**Adjusted operating profit rose by 39% to £225.7 million, with a margin expansion to 4.6%. Earnings per share (adjusted) increased by 33% to 370.0p. The Group maintained a strong balance sheet with net cash of £531 million, up from £492 million in 2024.
**Dividend Growth**The full-year dividend was increased by 20% to 158p per share, reflecting the Groups strong financial position and confidence in future prospects.
**Secured Order Book**The Group entered 2026 with a record secured order book of £12.0 billion, up 5%, and preferred bidder work increased by 17% to £19.1 billion. This includes significant growth in the Partnerships division, with a 29% increase in its order book to £11.5 billion.
**Divisional Performance**
**Partnership Housing**Revenue grew by 5% to £903 million, with operating profit up 16% to £42.0 million, despite challenges in the private housing market.
**Fit Out**Delivered exceptional performance with a 37% revenue increase to £1.78 billion and a 41% rise in operating profit to £139.9 million.
**Construction**Revenue increased by 11% to £1.16 billion, with operating profit up 20% to £37.0 million.
**Infrastructure**Revenue declined by 11% to £935 million, but operating profit remained stable at £37.2 million, with a margin expansion to 4.0%.
**Sustainability Leadership**The Group retained its MSCI AAA rating for ESG performance and achieved a CDP A- rating for climate leadership. It remains on track to meet its science-based carbon reduction targets.
**Strategic Progress**The Group increased medium-term targets for the Mixed Use Partnerships and Infrastructure divisions, reflecting improved market positions and future prospects.
**Outlook**Despite headwinds in the housing market, the Group remains positive for 2026 and expects to deliver results in line with revised expectations. The focus remains on long-term sustainable growth, supported by a strong balance sheet and disciplined capital allocation.
Overall, Morgan Sindall Group PLC demonstrated resilience and growth in 2025, with a strong financial performance, strategic progress, and continued leadership in sustainability, positioning the Group well for future opportunities.
Here is the HTML table code comparing the financials and debt year on year for Morgan Sindall Group PLC: td>+35%
MetricFY 2025 (£m)FY 2024 (£m)Change
Revenue5,0194,546+10%
Operating profit - adjusted225.7162.6+39%
Profit before tax - adjusted232.6172.5
Year end net cash531492+£39m
Net finance income6.99.9-£3m
Operating cash flow195.9134.8+£61.1m
Free cash flow161.5107.0+£54.5m
Total dividend per share (p)158.0131.5+20%

Key Observations:

  • Revenue increased by 10% year-on-year, driven by strong performance across divisions.
  • Adjusted profit before tax grew by 35%, reflecting improved margins and operational efficiency.
  • Net cash position strengthened by £39m, despite increased investment in partnerships and working capital.
  • Net finance income decreased by £3m, primarily due to lower interest income on bank deposits.
  • Operating and free cash flows improved significantly, supporting the increased dividend payout.
This table provides a concise comparison of key financial metrics and debt-related figures for Morgan Sindall Group PLC between FY 2025 and FY 2024. The observations highlight the company's strong financial performance, improved cash flows, and strengthened balance sheet.
HMSO logo
Latest RNS 06:01
HMSO

Final Results

Hammerson PLC

**Hammerson PLC Final Results for the Year Ended 31 December 2025: Summary**
**Overview**
Hammerson PLC, a leading investor and manager of prime retail-led city destinations in the UK, France, and Ireland, reported strong full-year results for 2025, highlighting significant growth in net rental income, earnings, dividends, and net tangible assets (NTA). The company is well-positioned for continued growth in FY26 and beyond, driven by active asset management, record leasing activity, and strategic acquisitions.
**Key Highlights**
1. **Financial Performance**
Total net rental income increased by 23% to £180 million, with like-for-like growth of 3%.
Portfolio value rose by 33% to £3.5 billion, supported by acquisitions, ERV growth, and yield compression.
EPRA earnings grew by 5% to £104 million, with EPS up 4% to 20.7p.
IFRS profit of £232 million, compared to a £526 million loss in FY24, driven by EPRA earnings and a £120 million net revaluation gain.
Final dividend increased by 6% to 8.56p, with a full-year dividend of 16.50p (up 6%).
2. **Operational Strength**
Record leasing of £51 million, up 18% like-for-like, with positive spreads and high demand for prime space.
Occupancy improved by 1 percentage point to 96%, with six out of ten flagship destinations at least 98% occupied.
Footfall increased by 3 million to 170 million visitors, outperforming national retail benchmarks.
3. **Strategic Investments**
Invested £757 million in key assets (Westquay, Brent Cross, Bullring, Grand Central, and The Oracle) since November 2024 at an average yield of 7.6%.
Completed repositioning at Cabot Circus and The Oracle, with Cergy 3 repositioning expected to open in H1 2027, fully pre-let to Primark and Nike.
4. **Balance Sheet and Capital Structure**
Sustainable balance sheet with a loan-to-value (LTV) ratio of 39% and net debt:EBITDA of 8.1x.
Credit rating upgrades from Fitch (A-) and Moodys (Baa2 with positive outlook).
Successful equity raise and bond issuance to support acquisitions and growth.
5. **Outlook**
FY26 guidance20% growth in net rental income, 15% growth in EPRA earnings, and 10% growth in EPRA EPS.
High visibility of long-term income streams, with further growth expected in FY27 and beyond.
**CEO Commentary**
Rob Wilkinson, Chief Executive, emphasized the company’s focus on active asset management, targeted leasing, and the success of its prime retail destinations. He highlighted the company’s strong position for future growth, driven by its integrated platform and high-quality portfolio.
**Conclusion**
Hammerson’s FY25 results demonstrate robust financial and operational performance, underpinned by strategic investments and effective asset management. The company is poised for continued growth, with a clear focus on enhancing shareholder value through increased rental income, earnings, and dividends.
Below is an HTML table comparing the financials and debt metrics year-on-year for Hammerson PLC based on the provided text:
Metric20242025Change
Net Rental Income (£m)£146m£180m+23%
Like-for-like Net Rental Income Change-0.5%+2.6%+3.1%
EPRA Earnings (£m)£99m£104m+5%
Net Revaluation Gains/Losses (£m)-£91m+£120m+£211m
Profit/(Loss) for the Period (IFRS) (£m)-£526m+£232m+£758m
Net Debt (£m)£799m£1,370m+71%
Loan to Value (LTV)30%39%+9%
Net Debt:EBITDA (rolling 12 months)5.8x9.5x+64%
Portfolio Value (£m)£2,659m£3,549m+33%
EPRA NTA per Share (£)£3.70£3.94+6%
Dividend per Share for the Year (p)15.63p16.50p+6%
### Key Highlights from the Table: 1. **Net Rental Income**: Increased by 23% from £146m in 2024 to £180m in 2025. 2. **EPRA Earnings**: Grew by 5% from £99m to £104m. 3. **Net Debt**: Rose significantly by 71% from £799m to £1,370m. 4. **Loan to Value (LTV)**: Increased from 30% to 39%. 5. **Portfolio Value**: Expanded by 33% from £2,659m to £3,549m. 6. **EPRA NTA per Share**: Improved by 6% from £3.70 to £3.94. 7. **Dividend per Share**: Increased by 6% from 15.63p to 16.50p. This table provides a clear comparison of key financial and debt metrics between 2024 and 2025 for Hammerson PLC.
GLB logo
Latest RNS 06:01
GLB

Glanbia Full Year 2025 Results

Glanbia plc

**Summary of Glanbia Full Year 2025 Results**
Glanbia plc, the Better Nutrition company, reported robust financial results for the 2025 fiscal year, ending January 3, 2026. Key highlights include
**Revenue Growth**Revenue increased by 2.3% to $3.9 billion, driven by like-for-like (LFL) growth across all three segments: Performance Nutrition (PN), Health & Nutrition (H&N), and Dairy Nutrition (DN).
**EBITDA Decline**EBITDA decreased by 9.4% to $499.1 million, primarily due to record whey input costs affecting the PN segment.
**Adjusted EPS**Adjusted earnings per share (EPS) declined by 3.4% to 134.93 cents, while basic EPS increased by 19.7% to 73.16 cents.
**Segment Performance**
**Performance Nutrition**LFL revenue growth of 4.5%, with Optimum Nutrition achieving 6.4% growth. EBITDA margin declined to 13.0% due to high whey costs.
**Health & Nutrition**LFL revenue growth of 6.8%, with strong volume growth. EBITDA margin improved to 18.4%.
**Dairy Nutrition**LFL volume growth of 4.2%, with EBITDA of $149.5 million.
**Capital Allocation**
Recommended a final dividend of 25.67 €cent, bringing the total 2025 dividend to 42.87 €cent, a 10% increase.
Returned €197 million to shareholders via share buybacks and approved an additional €100 million buyback for 2026.
**Strategic Updates**
Sold non-core brands SlimFast and Body & Fit.
Acquired Sweetmix and Scicore to enhance global scale in H&N.
Continued a group-wide transformation program targeting $60 million in annual cost savings by 2027.
**2026 Outlook**
Expects adjusted EPS growth of 7% to 11% and operating cash conversion of 85%+.
Segmental performance is expected to align with medium-term targets.
CEO Hugh McGuire emphasized the Groups resilience despite macroeconomic challenges, highlighting strong cash flow, strategic acquisitions, and progress on cost-saving initiatives. Glanbia remains focused on its medium-term targets, positioning itself as a leader in better nutrition.
Here is the comparison of Glanbia's financials and debt year on year, presented as an HTML table:
Metric2025 ($m)2024 ($m)Change (%)
Revenue3,946.43,839.72.8%
EBITDA499.1551.3-9.5%
EBITDA Margin12.6%14.4%-180bps
Adjusted EPS ($cent)134.93140.03-3.6%
Basic EPS ($cent)73.1663.2115.7%
Net Debt526.0436.020.6%
Net Debt to Adjusted EBITDA1.08x0.81x33.3% increase

Key Observations:

  • Revenue increased by 2.8% year-on-year, driven by volume and pricing growth across all segments.
  • EBITDA declined by 9.5% due to elevated input costs, particularly in Performance Nutrition.
  • Net debt increased by 20.6%, resulting in a higher net debt to adjusted EBITDA ratio of 1.08 times compared to 0.81 times in 2024.
This table provides a concise comparison of key financial metrics and debt levels between 2025 and 2024, highlighting the changes and trends in Glanbia's financial performance.
AFC logo
Latest RNS 06:01
AFC

Final Audited Results

AFC Energy plc

AFC Energy Plc, a leading provider of ammonia-based low-carbon hydrogen production and hydrogen-to-power solutions, has released its final audited results for the financial year ended 31 October 2025. The company reported significant strategic and operational progress, with a focus on commercial deployment of its proprietary technology to create shareholder value.
**Key Highlights**
1. **Financial Performance**
* Loss after tax of £22.2 million, including an increase in non-cash expenditure of £8.4 million.
* £25.3 million in cash, cash equivalents, and short-term investments at year-end, with current cash of £20.4 million as of 31 January 2026.
* £27.5 million successful oversubscribed placing to support development ambitions.
2. **Operational Achievements**
* Launch of the LC30 fuel cell generator, offering 85% lower cost, 20% more efficiency, and a substantially smaller footprint.
* Progress on the Hy-5 ammonia cracker, capable of producing 500kg/day of hydrogen, targeting sales at £10/kg.
* Strategic partnerships with Volex Plc for manufacturing and Industrial Chemicals Group Limited for low-cost bulk hydrogen production.
* Joint Development Agreements (JDAs) with S&P 500 and Komatsu Ltd partners for decentralized ammonia-to-hydrogen crackers.
3. **Strategic Focus**
* Shift towards commercial viability without government subsidies, targeting low-cost hydrogen power at scale.
* Establishment of a Project Management Office and commercial function to streamline operations and drive growth.
* Reorganization with reduced headcount and footprint, resulting in annualized savings of £1.5 million.
4. **Post-Period Developments**
* UK Environment Agency permit approval for hydrogen production from the pilot ammonia cracker, enabling revenue generation 3-4 months ahead of schedule.
* Joint Development Agreement with Komatsu Ltd for ammonia-fueled engine platform development.
5. **Business Priorities**
* Commercialization of LC30 and Hy-5 units, with a focus on pre-orders and Fuel as a Service (FaaS) offerings.
* Expansion into North American and European markets, with a refined go-to-market strategy.
* Continued development of fuel cell generators and crackers, with a focus on productization and patent applications.
**CEOs Statement**
John Wilson, Chief Executive Officer, emphasized the companys strategic reset, focusing on commercial viability and shareholder value creation. He highlighted the successful fundraising, cost-cutting measures, and technology validation through partnerships. Wilson expressed optimism for 2026, expecting sustained revenue growth and conversion of opportunities into contractual orders.
**Chairmans Statement**
The Chairman acknowledged the significant positive changes, including the appointment of a new executive team and strategic refocus. He praised the teams resilience and determination, positioning AFC Energy for a central role in the global transition to zero-emission power.
**Financial Review**
The financial review detailed the companys commercial pivot, development costs, and cash management. It highlighted the impact of strategic decisions on financial performance, including inventory write-downs and provisions for expected credit losses.
**Outlook**
AFC Energy remains well-positioned for 2026, with building commercial momentum and a growing pipeline of opportunities. The company aims to convert these opportunities into contractual orders, driving sustained revenue growth and shareholder value creation.
In summary, AFC Energys final audited results showcase significant progress in its strategic and operational goals, with a clear focus on commercial viability, technology development, and market expansion. The companys leadership expresses confidence in its ability to capitalize on the growing hydrogen economy and deliver long-term value to shareholders.
Here is a comparison of AFC Energy Plc's financials and debt year on year, presented as an HTML table:
AFC Energy Plc Financials and Debt Comparison (Year on Year)
MetricFY25 (£'000)FY24 (£'000)Change (£'000)Change (%)
Revenue1254,002(3,877)(96.9%)
Loss After Tax(22,195)(17,419)(4,776)27.4%
Cash and Cash Equivalents25,31715,3749,94364.7%
Total Debt (Lease Liabilities)160664(504)(75.9%)
R&D Investment11,7029,5122,19023.0%
Trade and Other Receivables1,9236,737(4,814)(71.5%)
Trade and Other Payables5,6304,95567513.6%
**Key Observations:** 1. **Revenue Decline:** Revenue decreased significantly by 96.9% from FY24 to FY25, primarily due to the company's strategic decision to discontinue manufacturing and selling the AR2 units. 2. **Increased Loss:** The loss after tax increased by 27.4%, driven by non-cash items such as inventory write-downs and provisions for expected credit losses. 3. **Improved Cash Position:** Cash and cash equivalents increased by 64.7%, mainly due to the successful £27.5 million fundraising in July 2025. 4. **Reduced Debt:** Total debt (represented by lease liabilities) decreased by 75.9%, indicating a stronger balance sheet. 5. **Higher R&D Investment:** R&D investment increased by 23.0%, reflecting the company's focus on developing new products like the LC30 fuel cell generator and Hy-5 ammonia cracker. 6. **Working Capital Changes:** Trade and other receivables decreased significantly, while trade and other payables increased moderately, reflecting changes in the company's operational focus and strategic priorities. This table provides a concise comparison of key financial metrics, highlighting the significant changes and trends in AFC Energy Plc's financial performance and position between FY24 and FY25.
FMET logo
Latest RNS 06:01
FMET

Bonus Warrant Acceleration Offer Closed

Fulcrum Metals PLC

**Summary**
Fulcrum Metals PLC (AIMFMET) announced the closure of its Bonus Warrant Acceleration Offer, which raised £834,575 through the exercise of 16,691,495 warrants. The funds will strengthen the companys financial position and support ongoing work across its tailings projects, including pilot scoping studies, mineral resource estimates, and production scenario evaluations. An additional 1,458,335 warrants were issued as part of the offer extension, exercisable at 10 pence per share until August 20, 2027. The company also issued 927,045 new ordinary shares to service providers in settlement of fees totaling £98,250. Admission of the new shares to the AIM market is expected around March 2, 2026, increasing the total issued share capital to 142,130,752 ordinary shares. CEO Ryan Mee expressed gratitude to participating warrant holders and highlighted upcoming updates on the pilot scoping study and assay results from the Teck-Hughes and Sylvanite projects. Fulcrum Metals remains focused on environmentally friendly precious metal recovery from mine tailings in Canada, leveraging its exclusive technology license.
Offers
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Latest RNS 06:01
SHC

Final Results

Shaftesbury Capital PLC

**Summary of Shaftesbury Capital PLCs Final Results for the Year Ended 31 December 2025**
Shaftesbury Capital PLC, a leading central London mixed-use REIT, reported strong financial and operational performance for the year ended 31 December 2025. The company delivered growth in rental income, earnings, dividends, property valuation, and net tangible assets per share, highlighting its resilience and strategic focus in the dynamic London West End market.
**Key Highlights**
1. **Financial Performance**
**EPRA NTA** increased by 7.2% to 214.7 pence per share, delivering a total accounting return of 9.1%.
**Portfolio valuation** grew by 6.6% like-for-like to £5.4 billion, supported by a 6.2% increase in ERV to £270 million.
**Underlying earnings** improved by 12% to 4.5 pence per share, and **dividends** increased by 14% to 4.0 pence per share.
**Leasing transactions** totaled 434, representing £39 million in contracted rent, 10.3% ahead of December 2024 ERV.
2. **Operational Strength**
**High occupancy** with only 2.6% of ERV available to let, and strong footfall and customer sales in 2026.
**Portfolio investment** of £113.3 million in capital expenditure and acquisitions, enhancing asset management and rental growth opportunities.
**Strategic partnership** with Norges Bank Investment Management (NBIM) for the Covent Garden estate, underlining the portfolios quality and long-term appeal.
3. **Portfolio and Market Position**
**West End estates** continue to perform well, with vibrant destinations supported by high occupancy, footfall, and customer sales.
**Leasing demand** remains robust, with prime West End locations highly sought after by global brands.
**Active asset management** and curation ensure the portfolio remains distinctive and well-positioned to capture customer demand.
4. **Sustainability and Community Engagement:**
**Sustainability strategy** focuses on future-proofing heritage buildings and creating sustainable, healthy places.
**Progress towards 2030 carbon reduction targets** and a reset Net Zero Carbon target to 2040.
**Active community engagement** with initiatives supporting local employment and community cohesion.
5. **Financial Position and Outlook**
**Strong balance sheet** with enhanced liquidity and low leverage, positioning the company for growth and investment.
**Medium-term target** of 5-7% rental growth, supporting total property returns of 7-9% and total accounting returns of 8-10% per annum.
**Confidence in sustained long-term growth** in rental income, earnings, dividends, and property valuation.
**Conclusion**
Shaftesbury Capital PLC demonstrated robust performance in 2025, driven by its prime West End portfolio, strategic partnerships, and active asset management. The company is well-positioned for future growth, with a strong balance sheet, enhanced liquidity, and a clear focus on sustainability and community engagement. The outlook remains positive, with strong fundamentals supporting continued rental growth and value creation.
Here is a comparison of Shaftesbury Capital PLC's financials and debt year on year, presented as an HTML table:
Metric20252024Change
Total Equity Attributable to Owners of the Parent (£m)3,954.23,674.3+7.6%
IFRS Total Equity per Share (pence)214.6200.4+7.1%
EPRA Net Tangible Assets (£m)3,954.93,671.1+7.7%
EPRA Net Tangible Assets per Share (pence)214.7200.2+7.2%
Market Value of Property Portfolio Under Management (£m)5,407.14,973.5+8.7%
Like-for-like Property Valuation Movement+6.6%+4.5%+2.1%
Net Debt (£m)813.31,405.0-42.1%
EPRA LTV16.8%27.4%-10.6%
Net Debt to EBITDA6.6x10.9x-4.3x
Profit for the Year Attributable to Owners of the Parent (£m)340.2252.1+34.9%
Underlying Earnings per Share (pence)4.54.0+12.5%
Dividend per Share (pence)4.03.5+14.3%
**Key Observations:** - **Equity and Net Assets:** Shaftesbury Capital PLC experienced a significant increase in total equity and net assets, with EPRA Net Tangible Assets per Share growing by 7.2%. - **Property Portfolio:** The market value of the property portfolio under management increased by 8.7%, driven by a 6.6% like-for-like property valuation movement. - **Debt:** Net debt decreased substantially by 42.1%, leading to a reduction in EPRA LTV and Net Debt to EBITDA ratios. - **Profitability and Earnings:** Profit for the year attributable to owners of the parent increased by 34.9%, while underlying earnings per share and dividend per share also grew. This table provides a concise overview of Shaftesbury Capital PLC's financial and debt position, highlighting key improvements and changes year on year.
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Latest RNS 06:01
STAR

Trading Update

Star Energy Group Plc

**Summary**
Star Energy Group PLC released a trading update for the year ended 31 December 2025, highlighting key achievements and future plans. The company achieved significant cost reductions, including £2.0 million in G&A savings and a £1.2 million decrease in geothermal expenditure, while maintaining progress on high-value geothermal projects. Net production averaged 1,886 boe/d in 2025, with expectations to rise to 2,000 boe/d in 2026, supported by a flexible capital program. Strong liquidity was maintained with £7.6 million in cash and active balance sheet management. Non-core asset sales generated £6.3 million, and £5.3 million was invested in oil and gas assets, including the Singleton gas-to-wire project. Hedging strategies yielded a £1.2 million gain, and the company paid £1.7 million in Energy Profits Levy. CEO Ross Glover emphasized rigorous capital deployment, operational resilience, and the strategic importance of domestic onshore oil and gas in the UKs energy mix. The company is also exploring value-accretive acquisitions to leverage UK tax losses and enhance shareholder returns. A fuller update is expected in April with the annual results release.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
G&A SavingsN/A£2.0 millionN/A
Geothermal ExpenditureN/A£1.2 million (reduction)-£1.2 million
Net Production (boe/d)N/A1,886N/A
Cash (excl. restricted)N/A£7.6 millionN/A
Loan Facility DrawnN/A£11.9 million (€13.6 million)N/A
Restricted CashN/A£4.5 million (€5.2 million)N/A
Non-Core Asset Sale ProceedsN/A£6.3 millionN/A
Investment in Oil & Gas AssetsN/A£5.3 millionN/A
Abandonment Activities SpendN/A£1.4 millionN/A
Capex Forecast (2026)N/A£6.3 millionN/A
Oil Hedging GainN/A£1.2 millionN/A
Energy Profits Levy (2023)£1.0 millionN/AN/A
Energy Profits Levy (2024)N/A£1.7 million+£0.7 million
### Notes: 1. **2024 Data**: Some metrics for 2024 were not explicitly provided in the text, so they are marked as "N/A". 2. **Changes**: Where applicable, changes between years are indicated. 3. **Formatting**: The table is structured with headers for clarity and includes borders for better readability. This table summarizes the key financial and operational metrics year-on-year based on the provided trading update.
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Latest RNS 06:01
AVG

Interim Results

Avingtrans Plc

**Summary of Avingtrans PLC Interim Results for the Six Months Ended 30 November 2025**
**Financial Highlights**
**Revenue** Flat at £78.1 million (H1 2025: £79.0 million), in line with management expectations.
**Gross Margin** Increased to 31.7% (H1 2025: 30.0%) due to improved aftermarket (AM) mix in the AES division.
**Adjusted EBITDA** Grew by 10.4% to £9.6 million (H1 2025: £8.7 million), driven by reduced losses in the Medical and Industrial Imaging (MII) division.
**Adjusted Profit Before Tax** Rose by 27.1% to £5.7 million (H1 2025: £4.5 million).
**Adjusted Diluted Earnings Per Share** Increased to 14.6p (H1 2025: 12.0p).
**Cash Flow** Stronger operating cash inflow of £7.6 million (H1 2025: £4.9 million).
**Net Debt** Unchanged at £12.3 million, despite ongoing investments in Medical Imaging and new nuclear technology.
**Interim Dividend** Increased to 2.0 pence per share (H1 2025: 1.9 pence).
**Operational Highlights**
**Advanced Engineering Systems (AES) Division:**
Revenue slightly lower at £75.2 million (H1 2025: £76.8 million), with a focus on H2 weighting.
Strong performance by Hayward Tyler, driven by global growth in data centers and electrification of transport, particularly new nuclear power.
Hayward Tyler secured $16.0 million in new nuclear contracts with KHNP of South Korea.
Ormandy benefited from growth in AI and data center infrastructure.
Booth won £8.5 million in contracts with HS2 and TfL.
Recovery at Slack and Parr continuesthough impacted by US tariffs.
**Medical and Industrial Imaging (MII) Division:**
Revenue increased by 33.0% to £2.9 million (H1 2025: £2.2 million) as product rollout gains momentum.
LBITDA loss reduced to £0.8 million (H1 2025: £1.7 million loss).
Adaptix received 510(k) approval from the US FDA, enabling orthopaedic system sales.
Magnetica expects to submit 510(k) approval in H2 2026.
SciMag saw increased orders for quantum computing-related systems.
**Current Trading & Outlook**
AES order book secured to achieve 95%+ of FY26 market expectations, providing strong visibility.
Increased global energy demand, driven by AI and data centers, is creating opportunities for AES businesses.
MII is entering a key phase with Adaptix sales ramping up and Magnetica regulatory approval expected in H2 2026.
The Board is confident about achieving market expectations for FY26.
**Chairman’s Statement**
Strong H1 performance from AES primes the Group for full-year expectations.
MII sales are building momentum, particularly with Adaptix’s 510(k) approval enabling US sales.
Continued investment in AES and MII, with a focus on maximizing shareholder value through the PIE (Pinpoint-Invest-Exit) strategy.
Prudent debt management and strategic M&A opportunities remain key priorities.
**Strategic Focus**
AES division focuses on nuclearthermaland hydrocarbon marketswith a strong aftermarket emphasis.
MII division targets compact MRI and 3D X-ray solutions for niche markets.
Ongoing commitment to sustainabilityinnovationand operational efficiency.
**Conclusion**
Avingtrans PLC delivered a robust H1 performance, with strategic investments and operational improvements positioning the Group for continued growth. The Board remains confident in achieving FY26 targets and long-term value creation.
Here’s an HTML table comparing the financials and debt year on year for Avingtrans PLC based on the provided text:
MetricH1 2025 (£'000)H1 2024 (£'000)Change
Revenue78,10379,017-1.16%
Gross Profit24,76923,717+4.44%
Adjusted EBITDA9,6008,700+10.34%
Adjusted Profit Before Tax5,7004,500+26.67%
Cash Inflow from Operating Activities7,6004,900+55.10%
Net Debt (excl. IFRS16)12,30012,3000.00%
Interim Dividend (pence per share)2.01.9+5.26%
### Explanation: 1. **Revenue**: Slightly decreased by 1.16% from £79.0m in H1 2024 to £78.1m in H1 2025. 2. **Gross Profit**: Increased by 4.44% from £23.7m to £24.8m. 3. **Adjusted EBITDA**: Increased by 10.34% from £8.7m to £9.6m. 4. **Adjusted Profit Before Tax**: Increased by 26.67% from £4.5m to £5.7m. 5. **Cash Inflow from Operating Activities**: Increased by 55.10% from £4.9m to £7.6m. 6. **Net Debt (excl. IFRS16)**: Remained unchanged at £12.3m. 7. **Interim Dividend**: Increased by 5.26% from 1.9 pence to 2.0 pence per share. This table provides a clear year-on-year comparison of key financial metrics and debt for Avingtrans PLC.
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Latest RNS 06:01
CAPD

Contracts Update

Capital Drilling Ltd

**Summary**
Capital Limited (LSECAPD), a leading mining services company, announced significant contract developments across its drilling, mining, and laboratory operations on February 25, 2026. Key highlights include
1. **Waste Stripping Contract at Sukari Gold Mine**: An 18-month contract with AngloGold Ashanti in Egypt, utilizing existing and newly purchased equipment, starting Q1 2026.
2. **Grade Control Drilling Contract with Montage Gold**: A 5-year contract at the Koné Gold Project in Côte dIvoire, with mobilization beginning in Q2 2026.
3. **MSALABS Laboratory Contract with Equinox Gold**: A 5-year contract for the Valentine Project in Newfoundland, Canada, supporting the construction of a new commercial laboratory with PhotonAssayTM technology.
Additional recent awards include MSALABS contracts with Montage Gold, IAMGOLD, and the construction of a second laboratory in Côte dIvoire. The company also secured smaller contract extensions and additions across its drilling and laboratory services.
Executive Chairman Jamie Boyton emphasized the strong demand environment and the strategic deployment of recently raised funds to support growth. Further details, including 2026 guidance, will be provided during the FY2025 results announcement on March 19, 2026.
Capital Limited operates globally, offering drilling, mining, maintenance, and geochemical laboratory services across multiple countries. This update was released via RNS, the London Stock Exchanges news service.
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Latest RNS 06:01
HSBA

HSBC Holdings 2025 Results

HSBC Holdings PLC

**Summary of HSBC Holdings 2025 Results**
HSBC Holdings PLC reported strong financial performance for 2025, marked by decisive actions and strategic execution across its four core businesses: Hong Kong, UK, Corporate and Institutional Banking (CIB), and International Wealth and Premier Banking (IWPB).
**Key Highlights**
**Financial Performance** Reported profit before tax decreased slightly to $29.9 billion, primarily due to notable items. However, constant currency profit before tax excluding notable items rose to $36.6 billion, driven by strong performances in Wealth and Wholesale Transaction Banking.
**Revenue Growth** Revenue increased by 4% to $68.3 billion, with constant currency revenue excluding notable items rising to $71.0 billion. This growth was led by fee and other income in Wealth and Wholesale Transaction Banking.
**Return on Tangible Equity (RoTE)** RoTE was 13.3%, and excluding notable items, it increased to 17.2%, surpassing the mid-teens target.
**Strategic Targets** HSBC raised its ambition, targeting a 17% RoTE or better from 2026 to 2028, excluding notable items, and year-on-year revenue growth, rising to 5% in 2028.
**Dividends and Shareholder Returns** The Board approved a fourth interim dividend of $0.45 per share, bringing the total dividend for 2025 to $0.75 per share. Total shareholder return exceeded 57%, including a 49% increase in share price.
**Operational Efficiency** HSBC achieved $1.5 billion in organizational simplification savings, six months ahead of schedule, and is targeting further cost reallocation to support growth.
**Sustainability** HSBC remains committed to becoming a net-zero bank by 2050 and provided $102 billion in sustainable finance and investment in 2025, on track to meet its $750 billion to $1 trillion target by 2030.
**Leadership Changes** Brendan Nelson succeeded Sir Mark Tucker as Group Chairman, and Wei Sun Christianson joined as an independent non-executive Director.
**Outlook**
HSBC anticipates global economic expansion in 2026, supported by trade growth and AI-driven investments. The bank expects banking net interest income of at least $45 billion, ECL charges around 40 bps, and target basis operating expense growth of approximately 1%. HSBC is committed to maintaining its CET1 capital ratio within the 14%-14.5% range and sustaining its dividend payout ratio at 50%.
**Strategic Focus**
**Simplification and Agility** HSBC continues to streamline its operations, aiming for a simpler, more agile structure to enhance customer responsiveness.
**Growth Investments** The bank is investing in technology, wealth management, and digital innovation to drive growth and improve customer experiences.
**Sustainability Leadership** HSBC is actively supporting customers transition to net zero and expanding its sustainable finance offerings.
Overall, HSBCs 2025 results reflect robust performance, strategic discipline, and a clear focus on sustainable growth, positioning the bank well for future opportunities in a dynamic global environment.
Here is the HTML table code comparing the financials and debt year on year for HSBC Holdings based on the provided text:
Metric20252024Change
Profit before tax ($m)29,90732,309(7%)
Profit after tax ($m)23,13124,999(7%)
Revenue ($m)68,27465,8544%
Net interest income ($m)34,79432,7336%
Customer lending balances ($m)988,399930,6586%
Customer accounts ($m)1,786,8281,654,9558%
Common equity tier 1 capital ratio (%)14.914.90%
Total regulatory capital ($m)182,371172,3866%
Risk-weighted assets ($m)888,647838,2546%
Leverage ratio (%)5.35.6(5%)
**Notes:** * The table compares key financials and debt metrics for HSBC Holdings between 2025 and 2024. * The "Change" column shows the percentage change between the two years. * The data is extracted from the provided text, which is HSBC Holdings' 2025 Results announcement. * The table focuses on the most relevant metrics for comparing financials and debt year on year. This table provides a concise overview of HSBC Holdings' financial and debt performance, highlighting areas of growth and decline between 2025 and 2024.
PAF logo
Latest RNS 06:01
PAF

Holding(s) in Company

Pan African Resources PLC

TR1 Buy
['Peregrine Capital (Pty) Ltd', '4.69', '5.65']
IGET logo
Latest RNS 06:01
IGET

Half-year Financial Report

Invesco Perpetual Select Trust plc - Global Equity Income Share Portfolio

**Summary of Invesco Global Equity Income Trust PLC Half-Yearly Financial Report (Six Months Ended 30 November 2025)**
**Overview**
Invesco Global Equity Income Trust PLC (IGET) reported its half-yearly financial results for the six months ended 30 November 2025, highlighting key developments, financial performance, and strategic initiatives. The period was marked by a proposed merger with Franklin Global Trust plc (FRGT), strong share sales, and continued focus on delivering income and capital appreciation.
**Key Highlights**
1. **Proposed Merger with FRGT**A merger with FRGT was announced, with 96% of FRGT shareholders electing to rollover into IGET. This is expected to increase IGET’s net assets to approximately £460 million, enhance liquidity, and reduce ongoing charges.
2. **Share Sales and Premium**£35.2 million was raised through sales of treasury shares, with an average share price premium to NAV of 1.9%.
3. **Yield and Performance**The yield at period end was 3.7%, compared to the benchmark index yield of 1.6%. NAV total return was 8.6%, and share price total return was 9.3%, though both lagged the benchmark index return of 16.5% due to momentum-driven markets.
4. **Awards and Recognition**IGET won the Best International Trust at the Citywire Investment Trust Awards for the third consecutive year and the Global Income category at the Investment Week Investment Company of the Year Awards.
**Financial Performance**
**Net Asset Value (NAV)**Increased by 22.9% to £260.9 million.
**NAV per Share**Rose by 6.6% to 359.77p.
**Share Price**Increased by 7.3% to 367.00p.
**Gearing**: Net gearing was nilwith net cash at 1.6%.
**Investment Strategy**
IGET’s valuation-focused strategy faced challenges in momentum-driven markets but maintained strong long-term performance. The portfolio managers emphasized disciplined, bottom-up valuation, positioning the portfolio for diverse outcomes. Key contributors included ASML, Standard Chartered, and Rolls-Royce, while detractors included 3i and Novo-Nordisk.
**Dividends and Revenue**
Net revenue return per share was 2.02p.
Two interim dividends of 3.375p each were paid, with a projected annualised dividend of 13.50p per share for the year ending 31 May 2026.
**Post-Period Updates**
Net assets increased to £301 million post-period end.
NAV and share price total returns were +7.0% and +7.5%, respectively, outperforming the benchmark’s +1.8%.
Additional £25.5 million was raised through treasury share sales.
**Governance and Outlook**
Johnston Carmichael LLP was appointed as the new external auditor following a competitive tender process.
The global economic outlook for 2026 includes modest growth, lower interest rates, and fiscal stimulus, creating a balanced opportunity set for IGET’s global mandate.
**Conclusion**
IGET demonstrated resilience in a challenging market environment, with strategic initiatives like the FRGT merger poised to enhance scale and efficiency. The trust remains committed to its valuation-driven approach, aiming to deliver long-term income and capital growth for shareholders.
Below is an HTML table comparing the financials and debt year on year for INVESCO GLOBAL EQUITY INCOME TRUST PLC based on the provided text:
Metric30 November 202531 May 2025Change
Net Assets (£’000)260,921212,28322.9%
NAV per Share (pence)359.77337.366.6%
Share Price (pence)367.00342.007.3%
Premium per Ordinary Share (%)2.0%1.4%0.6%
Gross Gearing (%)nil1.2%-1.2%
Net Gearing (%)nil0.0%0.0%
Net Cash (%)1.6%nil1.6%
Net Return Before Finance Costs and Taxation (£’000)18,29421,106-13.3%
Return After Taxation (£’000)18,05620,904-13.6%
Basic Return per Ordinary Share (pence)26.6233.17-19.7%
Cash and Cash Equivalents (£’000)4,0472,61854.6%
Bank Facility (£’000)02,650-100%
### Key Observations: 1. **Net Assets and NAV per Share**: Both increased significantly year on year, with net assets up by 22.9% and NAV per share up by 6.6%. 2. **Share Price and Premium**: Share price increased by 7.3%, and the premium per ordinary share rose from 1.4% to 2.0%. 3. **Gearing and Net Cash**: Gross gearing decreased to nil, and net cash increased to 1.6%, indicating a reduction in debt and an increase in cash holdings. 4. **Returns**: Net return and return after taxation decreased year on year, reflecting lower performance in the period. 5. **Cash and Bank Facility**: Cash and cash equivalents increased significantly, while the bank facility was fully repaid, reducing debt exposure. This table provides a clear comparison of key financial metrics and debt levels between the two periods.
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Latest RNS 06:01
87FZ

Reviewed condensed consolidated financial results and cash dividend declaration for the year ended 31 December 2025

AECI Ltd

**Summary of AECI Limiteds Financial Results for the Year Ended 31 December 2025**
AECI Limited reported strong financial and operational performance for the year ended 31 December 2025, driven by disciplined pricing, cost management, and strategic focus on core fundamentals. Key highlights include
1. **Financial Performance**
Revenue from continuing operations declined by 4% to R32.183 billion, while EBITDA increased by 12% to R3.412 billion.
Profit from continuing operations dipped slightly by 1% to R1.530 billion, but earnings per share (EPS) from continuing operations rose by 36% to 357 cents per share (cps), and headline earnings per share (HEPS) surged by 53% to 1,098 cps.
Net debt significantly reduced from R3.738 billion in 2024 to R465 million, with gearing dropping to 4% from 31%.
2. **Dividend Declaration**
A final cash dividend of 128 cps was declared, bringing the total dividend for the year to 228 cps, compared to 219 cps in 2024.
3. **Segment Performance**
**AECI Mining**Delivered a record EBITDA of R2.722 billion (up from R2.284 billion in 2024), with margins improving to 15%, driven by cost-efficiency initiatives and favorable product mix in Asia-Pacific.
**AECI Chemicals**Revenue increased to R10.306 billion, but EBITDA declined to R924 million due to pricing pressures and credit losses. However, free cash flow generation was strong at 133%.
4. **Strategic Achievements**
Realized R2.2 billion from the disposal of non-core assets.
Improved safety performance, with a 35% reduction in the Total Recordable Injury Rate (TRIR) to 0.20, and no fatalities reported.
5. **Management Commentary**
The Interim Group CEO highlighted the Group’s progress in strengthening its long-term position, particularly the outstanding performance of AECI Mining and AECI Chemicals.
6. **Future Outlook**
AECI remains committed to delivering long-term value for stakeholders by focusing on strategic fundamentals and leveraging core competencies.
The full reviewed condensed consolidated financial results are available on the JSE cloud link and the Company’s website. The Board confirmed compliance with JSE Listings Requirements, and the results were reviewed by Deloitte & Touche with an unmodified conclusion.
Below is the HTML table code comparing the financials and debt year-on-year based on the provided text:
Metric20242025Change
Revenue from Continuing Operations (R million)33,54632,183-4%
EBITDA from Continuing Operations (R million)3,0463,412+12%
Profit from Continuing Operations (R million)1,5451,530-1%
EPS from Continuing Operations (cps)262357+36%
HEPS (cps)7181,098+53%
Total Dividend (cps)219228+4%
Net Debt (R million)3,738465-87%
Gearing Ratio (%)31%4%-27%
Net Debt to EBITDA (times)1.20.1-92%
AECI Mining EBITDA (R million)2,2842,722+19%
AECI Chemicals EBITDA (R million)972924-5%
AECI Chemicals Free Cash Flow (R million)9171,233+34%
### Explanation: - **Metrics**: Key financial and debt metrics are compared year-on-year (2024 vs. 2025). - **Change**: Percentage change is calculated based on the provided data. - **Formatting**: The table is styled with borders and alignment for readability. This table provides a clear comparison of the financial and debt performance of AECI Limited between 2024 and 2025.
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Market AI · 2026-02-25

LONDON MARKET CLOSE: HSBC reclaims top spot as FTSE 100 hits new high

FTSE 100 Hits Record High: The FTSE 100 reached a new record close of 10,806.41, up 1.2%, driven by strong results from HSBC and gains in mining stocks. HSBC Leads Gains: HSBC shares hit an all-time high, rising 7.…

Market AI · 2026-02-25

LONDON MARKET MIDDAY: Record highs in Europe before Nvidia reports

European Stocks Rise: European markets, including London's FTSE 100, Paris' CAC 40, and Frankfurt's DAX 40, moved higher on Wednesday, with the FTSE 100 and CAC 40 hitting record highs. FTSE 100 Performance: The FT…

Market AI · 2026-02-25

LONDON BROKER RATINGS: Shore cuts Standard Chartered to 'sell'

Here is the provided text formatted as bullet points in HTML: html 25th Feb 2026 09:30 The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday: FTSE 100 DZ raises A…

Market AI · 2026-02-25

LONDON MARKET OPEN: Stocks climb as AI fears recede by Diageo sinks

Market Overview: London stock prices opened higher on Wednesday, driven by renewed confidence after a strong session in New York, as AI-related worries eased. Focus remains on Nvidia's earnings relea…

Market AI · 2026-02-25

LONDON MARKET EARLY CALL: FTSE 100 to rise before Nvidia reports

Here’s a bullet point summary of the text in HTML format: html FTSE 100: Expected to open 51.1 points higher (+0.5%) at 10,732.09 on Wednesday, adopting a risk-on tone ahead of Nvidia earnings. Currency Movements:…

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