26th Feb 2026 13:43
(Alliance News) - The following is a round-up of earnings and trading updates for London-listed companies, issued on Wednesday and Thursday and not separately reported by Alliance News:
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First Tin PLC - tin mine developer targeting Germany and Australia - Pretax loss narrows to GBP709,255 in 2025 from GBP909,879 in 2024, reflecting a decline in administrative expenses to GBP767,380 from GBP944,625. Finance income increases to GBP60,875 from GBP35,538. First Tin ends 2025 with a cash balance of GBP9.0 million up from GBP6.4 million at the end of June and a net asset value of GBP50.3 million, up from GBP44.3 million. Chief Executive Bill Scotting says: "During the last six months, we have made meaningful progress along our development pathway, bringing us materially closer to our objective of becoming a sustainable and reliable supplier of traceable tin from our assets in Australia and Germany." He thinks the structural growth in tin demand, supply uncertainties and rising tin price present a "significant opportunity."
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Oxford Metrics PLC - Oxford, England-based sensing and measurement technology - Updates on trading since October 1. Says the group has seen solid trading momentum across both divisions and continues to make progress against its strategic priorities, with encouraging operational progress. Management remains focused on delivery and on improving profitability as well as revenue growth. In addition, Oxford Metrics continues to evaluate M&A opportunities aligned with its long-term strategy across both divisions, maintaining a disciplined approach. The firm remains confident in delivering further progress through financial 2026, supported by growing pipelines, planned Motion Capture product launches and the benefits of unifying the Smart Manufacturing division.
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AFC Energy PLC - Cranleigh, England-based provider of hydrogen power-generation technologies - Pretax loss widens to GBP25.4 million in the financial year ending October from GBP19.3 million the year prior. Hurting the bottom line, GBP2.9 million of credit losses compared to nil the year prior, and rising operating costs to GBP22.9 million from GBP18.1 million. Says the financial year saw a "strategic reset and focus on delivering the commercial deployment of our proprietary technology and products to create significant shareholder value." AFC says it continues to "execute successfully on our strategy as we look to deliver low-cost hydrogen power at scale without the need for government subsidies." It remains "well on track for 2026 to be a year of conversion of our growing pipeline of opportunities to contractual orders and the beginning of sustained revenue growth for our business. We look forward to the future with strong and increasing optimism."
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Falconedge PLC - London-based firm, provides advisory and operational solutions for asset and fund managers - Swings to pretax loss of GBP554,347 in the six months to November compared to profit of GBP163 in the six months to May. This reflects a sharp rise in administrative expenses to GBP424,462 from GBP488 over the same time frame, including one-time expenses related to the IPO process, concluded in November. Since the period end, the company has signed a further two new fund advisory clients, to add to the five clients, as at the period end, that are onboarded and each paying a monthly retainer. This provides the company with a recurring revenue base and increasing visibility over future income, it says. "This recurring income stream underpins the stability of the business and supports continued investment in growth," the firm adds. "We continue to work on increasing the number of advisory funds. The pipeline remains active and the company remains selective, focusing on mandates where Falconedge can add long-term strategic value rather than pursuing short-term volume."
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Angling Direct PLC - Norwich, England-based fishing tackle and equipment retailer - Says trading momentum experienced in the third quarter of the financial year continued into the fourth quarter and the firm now expects to report adjusted earnings before interest, tax, depreciation and amortisation of around GBP4.8 million, ahead of market expectations which it puts at GBP4.4 million, up from GBP3.4 million in the financial year to January 2025. Total UK sales rise 15% to GBP99.2 million in the financial year to January 2026, from GBP86.4 million the year prior, with European sales down 4.7% to GBP4.7 million from GBP4.9 million. UK retail sales grow 11% and online jump 20%. UK like-for-like store sales rise 5.8%, benefitting from increased footfall and higher transaction volumes, Angling Direct says. "FY26 was the best year in Angling Direct's history, delivering record revenues and profits despite the persistent challenging consumer backdrop in the UK," says Chief Executive Steve Crowe.
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Wilmington PLC - Birmingham, England-based data, information, education and training for governance, risk and compliance markets - Pretax profit declines 14% to GBP4.9 million in the six months to December from GBP5.7 million the year prior, despite 12% jump in revenue to GBP47.7 million from GBP40.9 million. Basic EPS drops 18% to 2.72 pence from 3.30p, but increases 4.2% to 9.93p from 9.52p on an adjusted basis. "Our ongoing businesses have continued to perform well with solid organic revenue growth and good cash conversion, supported by consistent strong levels of repeat revenues," comments Chief Executive Officer Mark Milner. ""Our strong contracted order book and repeat business gives us good visibility for continuing growth, with trading in the current financial period continuing to be in line with market expectations," he adds.
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Fiske PLC - London-based stockbroker and investor - Swings to pretax loss of GBP205,000 in the six months to December from GBP879,000 profit the year prior. Revenue is broadly flat at GBP3.9 million, in line with Fiske's expectations, but operating expenses increase to GBP4.2 million from GBP3.6 million. "Despite the ongoing compliance advisory work, we look forward to making further progress in building on the sustainability of our business model so we can provide attractive outcomes for all our stakeholders," Fiske says. Fiske raises interim dividend by 10% to 0.3025 pence per share.
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ATC Music Group PLC - London-based music talent management, live booking and merchandising firm previously called All Things Considered - Provides trading update for 2025. Calls 2025 "a strong year of growth", with revenue expected to have increased to GBP67.5 million from GBP50.9 million. The group expects to report positive adjusted operating Ebitda of at least GBP1.3 million, although this would be down from GBP1.6 million a year ago. "Continued strong organic growth was complemented by strategic acquisitions, further strengthening the group's market position and value proposition," ATC says. Cash balance increases "significantly" year-on-year to GBP21.5 million from GBP9.7 million. Looking ahead says: "The group has established a strong platform for continued growth, supported by its integrated, data-led artist services strategy and a strategic acquisition pipeline for FY26 and beyond."
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Vanquis Banking Group PLC - Bradford, England-based lender - Swings to a pretax profit of GBP8.3 million in 2025, from a loss of GBP138.0 million in 2024, with total income up 1.9% to GBP454.9 million from GBP446.4 million. Looking to 2026, it expects a net interest margin around 15.5%, before a decline to around 14.5% in 2027. In 2025, its NIM fell to 16.8% from 18.5%. It eyes a low double digits return on tangible equity in 2026, picking up to mid-teens in 2027. "In 2025 we accelerated growth in interest earning balances, maintained strong credit performance, carefully controlled our margins and costs and returned the Group to statutory profitability," says Chief Executive Officer Ian McLaughlin. Credit quality remains strong and cost discipline was maintained, Vanquis says, with transformation savings ahead of plan, improved operational efficiency and a meaningful reduction in complaint costs. CET1 capital ratio declines to 16.5% from 18.8% reflecting capital deployed to support accelerated balance growth.
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Macfarlane Group PLC - Glasgow-based packaging and labelling supplier - Pretax profit slides 61% to GBP8.1 million in 2025 from GBP20.9 million the year prior, although revenue rises 11% to GBP300.8 million from GBP270.4 million. Diluted earnings per share plummet to 3.98 pence from 9.74p. The dividend is maintained at 3.66p per share. Calls 2025 "a difficult year for the group," notes the tragic incident at the corrugate manufacturing facility of Pitreavie Group Ltd, acquired in early 2025. Says no provision has been made in respect of the outcome of the investigation into the Pitreavie incident. "During the year we experienced economic headwinds and uncertainty creating a particularly competitive trading environment and material increases in operating costs which, together with the impact of the Pitreavie incident, resulted in a marked impact on the group's financial performance," Macfarlane explains. Looking ahead, expects markets and the competitive environment to remain challenging in 2026. Whilst acquisitions are not anticipated in the short term, the group "continues to work on the acquisition pipeline for the future."
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By Jeremy Cutler, Alliance News reporter
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Related Shares:
First Tin PLCOxford MetricsAFC EnergyAngling DirectWilmingtonFiskeATC Music Group plcVanquis BankingMacfarlane Grp.