2nd Mar 2026 22:03
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
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Gelion PLC - London-based battery energy storage systems firm - Pretax loss narrows to GBP3.3 million in the six months to December from GBP3.6 million the year prior. Total income is GBP506,000, up from GBP381,000, bottom line benefits from drop in R&D expenditure to GBP1.5 million, down from GBP1.8 million. Loss per share is 1.70 pence compared to 2.60p. Chief Executive John Wood says: "Gelion's ambition is clear and focussed - leadership in Sulfur battery technology through alignment with target market and specialist applications and global sales. We are pursuing this through a capital-light model, leveraging our internal expertise in innovation and materials science while building collaborations across the battery supply chain to accelerate progress. Gelion is now recognised as an emerging global innovator in Sulfur battery technology, with the potential to achieve Tier‑1 status and corresponding value recognition through FY26-27."
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Brave Bison Group PLC - London-based advertising and communications agency - Announces the acquisition of a 28% interest in System1 Group PLC by way of a share-for-share exchange with John Kearon, System1's founder and largest shareholder, and on-market purchases totalling GBP1.3 million. In exchange for his 2.9 million ordinary shares in System1, Kearon will be issued with 9.8 million shares in Brave Bison, 8.7% of its share capital, at 74 pence per Brave Bison share. Kearon has agreed to an 18-month lock up period. In addition, Brave Bison acquires a further 628,111 shares for cash via on-market purchases for GBP1.3 million at a price of 210p per share. The blended price per System1 share acquired is 242p. Under the equity method of accounting, the investment is expected to increase Brave Bison adjusted pretax profit by arpund 5% on a pro-forma basis. Based on consensus estimates, System1 is expected to report net cash as at March 31 of GBP12 million.
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Roquefort Therapeutics PLC - London-based biotech firm developing medicines in immunology and oncology sectors - Announces the acquisition of the exclusive worldwide licence to AO-252 from Coiled Therapeutics Inc, a spin out of A2A Pharma Pharmaceuticals Inc for initial GBP31.9 million. To part fund the deal, intends to raise GBP8.5 million via placing at 10 pence per share. AO-252 is currently in a Phase I trial in the US in advanced solid tumours and is showing encouraging efficacy, with tumour reductions of up to 29% observed in early patients, coupled with a benign safety profile, Roquefort says. In addition, the firm proposes board changes, with the resignation of Darrin Disley and Simon Sinclair, and appointments of Sotirios Stergiopoulos as executive chair Sridhar Vempati as chief executive officer. On admission, the enlarged group intends to change its name to Coiled Therapeutics PLC.
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Bellevue Healthcare Trust PLC - investment trust dedicated to investments in listed or quoted healthcare companies - Net asset value per share declines to 146.58 pence at November 30 from 154.32p the year prior. Says NAV total return was negative 0.7%, albeit share price total return was better at 4.1% due to the effect of the discount to NAV closing further. However, notes both of these figures lagged the performance of the company's comparator index, MSCI World Healthcare Index total return which returned 4.5%.
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Buccaneer Energy PLC - Texas-focused exploration company, previously known as Nostra Terra Oil & Gas - Announces a successful fundraise supported by a new cornerstone investor, institutional investor Premier Miton, alongside directors and management, existing shareholders and other new investors, to complete the acquisition of an adjacent producing asset and to expand the application of Organic Oil Recovery in the Pine Mills area. Buccaneer raises GBP350,000 through a subscription and placing at a price of 0.01p per share. Proceeds will be used for the acquisition of 100% working interest in the Carlisle 1 well for a consideration of USD425,000 that will add immediate net production of around 25 barrels of oil per day.
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Helix Exploration PLC - London-based helium exploration and development company - Announces a proposed placing of not less than GBP2.2 million through the issue of 8.8 million shares at 25 pence each. H&P Advisory Ltd is acting as sole bookrunner and broker in connection with the placing. Cairn Financial Advisers LLP is acting as nominated adviser. Proceeds will enhance the balance sheet and provide the financial headroom required to support ongoing commercialisation and capacity expansion activities.
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Gana Media Group PLC - London-based mobile gaming content provider - Pretax loss widens to GBP1.5 million in the six months to December from GBP841,000 the year prior. Revenue more than doubles to GBP1.1 million from GBP415,000 but growth is outstripped by rise administrative expenses also jump to GBP2.3 million from GBP1.2 million. Revenue is largely derived from the provision of support services provided in connection with the development of the sports betting business in Mexico. ""We are very pleased with the progress that the organisation has made in the past 6 months in the progression and consumer launch of the Mexican sports betting business. This has only been possible due to the quality and capability of our Streams Technology platform combined with the dedication and skills of our team. Our Company is now transitioned and developing into a growing and profitable business," Chief Executive Mark Epstein says.
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Tristel PLC - Newmarket, England-based maker of infection prevention products - Pretax profit rises 36% to GBP5.0 million in the six months to December from GBP3.7 million the year prior. Revenue increases 14% to GBP25.7 million from USD22.6 million. Basic earnings per share climb 45% to 8.28 pence from 5.72p. Interim dividend is unchanged at 5.68p per share. Remains cash generative, with no debt, Tristel says. "Performance has been driven by sustained momentum across our core markets, underpinned by volume growth, pricing discipline, and consistent commercial execution," the firm says, "particularly encouraged by progress in the US, where we saw a more than sixfold increase in revenues year-on-year." "Trading remains robust and is comfortably in line with expectations for the year to 30 June 2026."
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Onward Opportunities Ltd - UK smaller companies-focused investor - Reports an all-time high net asset value of 143.7 pence per share at December 31, up 11% on-year, reflecting "another encouraging period of investment performance." Notes outperformance versus AIM All Share Index Total Return since inception of 50% and the UK Small Cap Index Total Return by 13.1% over the same period.
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Gresham House Income & Growth VCT PLC - venture capital trust - Net asset value per share is 63.89 pence at December 31 compared to 66.78p at September 30. The decrease in NAV is principally due to a dividend payment of 2.50 pence per share paid in October as well as a decrease in the unrealised valuation of the portfolio.
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Gresham House Income & Growth 2 VCT PLC - venture capital trust - Net asset value per share is 51.73 pence at December 31 compared to 54.29p at September 30. The decrease in NAV is principally due to a dividend payment of 2.00 pence per share paid in October as well as a decrease in the unrealised valuation of the portfolio.
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By Jeremy Cutler, Alliance News reporter
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