2nd Oct 2026 10:14
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued this week and not separately reported by Alliance News:
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Land Securities Group PLC - London-based commercial property developer - Rays it raises around GBP500 million in gross proceeds through a placing, retail offer and director subscription to partially fund the acquisition of a 100% stake in Metrocentre and further consolidate its interests in its existing retail portfolio. The firm issues around 83.3 million new shares at 600p each, representing around 11% of its existing issued share capital. The placing price represents a 3.0% discount to the 618.5p middle market price at the time the price is agreed. Chief Executive Officer Mark Allan and the company's chief financial officer subscribe for around GBP70,000 of shares in aggregate at the placing price. Settlement of the placing shares is expected to begin on Monday.
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MS International PLC - Doncaster, England-based defence equipment manufacturer - Says its MSI-Defence Systems US LLC subsidiary wins a three-year contract from the US Navy to supply stabilised gun mounts and electro-optical sights, its first multi-year contract with the US Navy. The firm says the first year is worth USD61.3 million and covers 22 MK88 MOD4 gun mounts and 23 MK48 MOD2 electro-optical sights. Quantities for the subsequent two years will be agreed annually. MS International says the award reinforces its confidence in its medium- to long-term prospects and represents continued growth in the US defence market.
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Unite Group PLC - Bristol, England-based owner and manager of student accommodation - Agrees to sell its 444-bed King's Place development site to an affiliate of Far East Orchard for GBP60 million, at a 3% discount to its June book value. The developer expects the sale to complete in mid-October and says it has now agreed or completed GBP200 million of disposals in 2026. Unite remains on track for GBP300 million to GBP400 million of disposals this year. It maintains its 2026 adjusted earnings guidance of 41.5p to 43.0p per share.
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Marks Electrical Group PLC - Leicester, England-based electrical retailer - Expects full-year adjusted Ebitda of at least GBP3.8 million, ahead of market expectations, following stronger-than-expected profitability in the first half. The group expects revenue for the year ending March 31 to be broadly in line with market expectations, as operational efficiencies, fixed-cost optimisation and improved product gross margins offset cost inflation. Marks Electrical appoints Philip De Villanueva as chief financial officer and a director from December 1, succeeding Tom Pallatt, who steps down from the board.
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Hardide PLC - Bicester, England-based provider of advanced surface coating technology - Says Director Yuri Zhuk steps down from the board and assumes the role of chief technology officer with immediate effect as part of the company's new leadership structure. Hardide says the executive changes "enable [Zhuk] to focus exclusively on supporting the growth of the business".
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Liontrust Asset Management PLC - London-based active asset management - Agrees to acquire the fund management and model portfolio services business of Hawksmoor Fund Management and Hawksmoor Investment Services for up to GBP10 million in cash. Liontrust will pay GBP6 million on completion, plus two contingent payments of up to GBP2 million each, adding around GBP1.9 billion in assets under management and advice. Liontrust expects the acquisition to be earnings-enhancing from the outset, before synergies, and to complete by December 31. The acquired business has run-rate revenue of GBP4.8 million, and Liontrust expects an operating margin of around 60% following integration.
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Character Group PLC - Surrey, England-based toys, games and giftware company which manufactures Peppa Pig toys - Expects pretax profit before highlighted items for the financial year to August 31 to beat current market expectations by around 20%, following strong trading in July and August. The group expects full-year sales to be broadly in line with the year before, as stronger UK and Scandinavian sales offset weaker international sales, particularly in the US. Character says cash reserves exceed GBP20.0 million following the GBP9.8 million sale of its Middleton warehouse in July, and it is assessing the potential to return excess cash to shareholders. Trading remains positive ahead of the Christmas season, with improved gross margins maintained in the second half.
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Vox Valor Capital Ltd - London-based technology investment company - Pretax loss narrows 43% to USD1.0 million in the financial year to May 31 from USD1.8 million in the preceding 17-month period, while operating loss narrows to USD257,894 from USD1.3 million. Revenue is USD8.3 million, compared with USD15.7 million in the longer comparative period, while cash falls to USD28,000 from USD53,000. The company says it plans to grow organically by expanding its services and technology offering in the UK, Europe, US and Asia, while continuing to evaluate potential acquisitions and commercial partnerships.
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Cadence Minerals PLC - London-based mining services company - Pretax loss widens 66% to GBP1.4 million in the six months to June 30 from GBP841,000 a year earlier, as total administrative expenses rise to GBP1.5 million from GBP593,000. The company says DEV Mineracao begins hot commissioning of the Azteca plant at the Amapa iron ore project in Brazil following mechanical completion and cold and wet commissioning. Cadence says its immediate priorities include completing hot commissioning, addressing outstanding environmental requirements, securing the Azteca operating licence and completing bridge repairs before the first shipment. It also plans to begin a definitive feasibility study for the wider Amapá redevelopment in 2027.
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Bay Capital PLC - Jersey-based investor in industrial, construction and business services sectors - Pretax loss widens 23% to GBP159,082 in the six months to June 30 from GBP129,475 a year earlier, as administrative expenses rise 18% to GBP164,347. The company says cash falls to GBP4.1 million from GBP4.3 million at the end of 2025. Bay says it continues to pursue its investment and acquisition strategy, having broadened its focus to include higher-growth sectors. It is evaluating several potential transactions across sectors and says it remains encouraged by interest from high-growth companies seeking access to London's public markets.
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Beacon Rise Holdings PLC - acquisition company - Ebitda loss widens to GBP1.2 million in the six months to June 30 from GBP134,792 a year earlier. The healthcare-focused acquisition company reports net liabilities of GBP648,346 at the period end, compared with net assets of GBP151,811 a year earlier, while gross assets fall to GBP115,160 from GBP190,836. Beacon Rise says it intends to delist from the London Main Market and move to AIM in the coming months, with the process close to completion. As part of the move, it plans to acquire a chiropractic practice in the Banbury area as the first in a programme of acquisitions.
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Zephyr Energy PLC - Rocky Mountain region-focused oil and gas company that aims for responsible resource development and carbon-neutral operations - Swings to a pretax profit of USD1.9 million in the six months to June 30 from a USD13.0 million loss a year earlier, as revenue jumps 73% to USD10.8 million from USD6.3 million. The company reports a USD2.0 million profit on asset disposals and USD1.2 million in foreign exchange gains, compared with a USD5.8 million foreign exchange loss a year earlier. Zephyr says its non-operated portfolio production exceeds management forecasts, while at its operated Paradox project in Utah it advances preparations for first gas exports alongside farm-out and gas off-take processes.
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Fair Oaks Income Ltd - investor which specialises in collateralised loan obligations - Says its ordinary shares deliver a net asset value total return of 2.1% in the six months to June 30, compared with 5.5% for 2025. The company says its market capitalisation stands at EUR155.5 million at the period end, while its ordinary shares trade at an average 4.2% discount to NAV during the half year. Fair Oaks declares dividends totalling 27.05 euro cents per ordinary share during the period, compared with an equivalent 34.10 cents a year earlier. Its realisation shares are delisted during the period, with no such shares remaining in issue at June 30.
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By Eva Castanedo, Alliance News senior economics reporter
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Related Shares:
Land SecuritiesFair Oaks IncZephyr EnergyBeacon RiseBay CapitalCadence MineralVox Valor CapCharacterLiontrust Asset ManagementHardideMarks ElectricUniteMs Intl.