24th Sep 2026 18:08
(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Cornish Metals PLC - Mineral exploration and development company focused on the South Crofty tin project in Cornwall, UK - Pretax loss widens to GBP5.5 million in the six months to June from GBP3.5 million a year ago. Remains pre-revenue generating. Says the "most significant underground milestone" during the half was mine dewatering through the fully commissioned mid-shaft pump station at South Crofty, "at a level that has not been reached in more than 28 years." In May, Cornish placed an oversubscribed USD210 million senior secured bond to institutional and natural resource specialist investors. Looking ahead, says its near-term priority is the completion of project financing for South Crofty, which it says is "well advanced". Dewatering remains on track towards the 400-level, around 730 metres below surface, for the first half of 2027, Cornish says. Additionally, says mechanical installation of the New Cook's Kitchen mid-shaft pump station winders is planned for the second half of 2026, overall engineering completion is expected by year-end, and construction of the process plant is expected to begin in the first quarter of 2027. Awaits assay results from the second Roskear West drillhole.
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Thalassa Holdings Ltd - British Virgin Islands-based investment holding company - Swings to a pretax loss of GBP418,740 in the first half from a GBP12,556 profit a year ago, as total income falls to GBP156,155 from GBP581,944. The decline is driven by a smaller net gain on investments at fair value, which fell to GBP147,467 from GBP566,066. Chair Duncan Soukup calls the period "by any measure a remarkable six months for investors." Adds: "Markets embraced the continued AI boom whilst simultaneously ignoring the conflict in the Middle East, and a sharp first-quarter correction was just another bump in the road". Notes rally was led by AI infrastructure firms, not the Magnificent Seven. Looking ahead, anticipates "further volatility...with the clear possibility that the overextended US consumer may, at some point in the not-too-distant future withdraw from the stock market if interest rates don’t decline rapidly in the next month or so."
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Amicorp FS (UK) PLC - fund services provider - First half pretax profit falls to USD1.7 million from USD2.5 million a year ago as revenue drops to USD8.2 million from USD9.4 million. Diluted earnings per share declines to 1.28 US cents from 1.87 cents. Notes continued growth in funds under administration, with 19 new wins at the start of the second half. Moreover, expects the number of new funds in the second half to outweigh the number achieved in the first six months. Says this is based on historical trends. Looking ahead, says its focus is on turning its pipeline into recurring revenue and growing its Fund Administration, Governance and Compliance and Capital Markets businesses. Aims to complete in the next 12 to 18 months the implementation of AI tools across these businesses, which is expected to "improve operational visibility, reduce manual work and support scalable growth across the group", Amicorp adds.
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NWF Group PLC - Cheshire, England-based fuel, food and feed distributor - Says outlook for the rest of the year is unchanged. Says its financial first quarter ended August 31 saw mixed performance across its three businesses. Notes that the seasonally busier winter months to come have "historically been the most material to the group's performance". Sees continued low demand in Fuel during the warm UK summer; "strong contracted customer demand" in Food, which has resulted in both higher storage levels and throughput than last year; and volumes higher than those of last year in Feeds, "reflecting mainly new business but also increased usage by existing customers." Adds: "We remain confident in the group's prospects and continue to focus on our long-term growth strategy of development through growth investment, business improvement initiatives focused on commercial effectiveness and operational efficiency, and targeted acquisitions, supported by our strong balance sheet." NFW will provide a further trading update in December, following its half-year end on November 30.
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Tavistock Investments PLC - Ascot, England-based financial advice and investment management firm - Swings to a pretax loss of GBP8.5 million in the year to March 31 from a GBP6.7 million profit a year earlier, as revenue falls to GBP23.2 million from GBP32.6 million and it records no gain on disposals compared with GBP20.0 million the prior year. Administrative costs decline to GBP16.8 million from GBP23.1 million, while other non-recurring costs fall to GBP3.4 million from GBP6.6 million. Chief Executive Brian Raven comments: "2026 has been a pivotal first stage in our two-year transformation towards a financial ecosystem serving retail and professional clients, through a dynamic customer approach and carefully selected partnerships. Moving forward as TAVI, the company will have an optimal framework for offering its investment, growth and financial wellbeing services. Our financial performance this year should be seen in the context of necessary steps taken to refocus our services proposition. Looking forward to 2027, our priorities are to complete the integration of the key new businesses underpinning our new advisory ecosystem, and to seize the opportunities our new scale and positioning present."
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Living REIT PLC - real estate investment trust that aims to provide "stable, long-term, inflation-aligned dividends" - First half EPRA net tangible assets rises to 95.36 pence per share from 94.23p a year ago. Net rental income rises to GBP20.2 million from GBP19.8 million. Swings to pretax profit of GBP10.0 million from a loss of GBP2.9 million. Adjusted earnings per share rises 2.2% to 3.42 pence from 3.34p. Declares first half dividend of 2.90 pence per share, up from 2.81p a year ago. Chair Jos Short says: "The first half of 2026 has been a significant period in the company's evolution. We have delivered further earnings growth and increased the dividend. Post-period, we broadened our investment mandate and completed the strategic acquisition of a senior living portfolio. Together, these achievements have created a larger, more diversified REIT with a broader investor base and improved share liquidity. With secure, inflation-aligned income, an attractive long-term debt profile and a disciplined approach to capital allocation, Living REIT is well positioned to deliver progressive dividends, further growth and long-term value for shareholders."
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Tufton Assets Ltd - Investment firm focused on secondhand commercial sea vessels - Net asset value rises 19% USD1.576 per share at June 30 from USD1.316p a year ago. Increases target annual dividend by 10% to USD0.11 per share. CEO Nicolas Tirogalas says: "Looking ahead, we are positive on the outlook for the shipping markets in which we operate. There is continued underinvestment in fleet renewal in these areas. Ship newbuild prices are high and regulatory uncertainty continues. This should constrain vessel availability, while geopolitical and climate disruption continues to increase the tonne-mile demand for shipping capacity." Cites these factors and its "well-positioned fleet" as reason for the payout hike.
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Investacc Group Ltd - pensions services provider - First half revenue multiplies to GBP13.8 million from GBP6.0 million a year ago, bringing it to a pretax profit of GBP1.1 million from a GBP3.2 million loss. Comments: "With AJ Bell Platinum now integrated and all acquisition consideration settled, the group has a strong platform from which to deliver both organic and acquisitive growth, underpinned by a robust pipeline of opportunities and continued investment in operational capabilities. Against this backdrop, the group remains confident in its outlook for the second half of 2026." Remains "optimistic about its M&A pipeline, with multiple ongoing discussions across specialist providers, life companies and platforms." Says a "fragmented market and increasing pressures on smaller and non-core books continue to create attractive consolidation opportunities." Plans on delivering accretive acquisitions at 5-8x Ebitda, "leveraging its proven integration capability to drive growth, operational efficiencies and strong financial returns."
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EMV Capital PLC - life sciences-focused investor - Net asset value per share jumps to 120 pence at June 30 from 49p at end-2025, or 123 pence from 106p on an adjusted basis. AUM rises to GBP117.5 million at June 30 from GBP112.5 million in December, driven by continued fundraising and new investment activity. Says net portfolio fair value movements were broadly neutral in the period. Looking ahead, says the second half promises to bring "further, steady progress" as a number of portfolio companies approach "important commercial, clinical, regulatory and financing milestones." Adds "Our team remains focused on executing the current opportunity set, which we expect will result in continued AUM and revenue growth, and value growth in our companies." EMV says its focus is on expanding assets under management, growing recurring revenues, developing new fund management opportunities and supporting portfolio companies through their next stages of growth. Over the long term, continues towards its goal of building a platform that generates returns from "recurring fund management and advisory revenues, rising portfolio value, and, in time, realisations and carried interest." Says this diversified model "should strengthen the resilience of the group and its capacity to pursue new investment opportunities." Regarding inorganic growth, says "a fragmented market and increasing pressures on smaller and non-core books continue to create attractive consolidation opportunities." Remains focused on delivering accretive acquisitions at 5-8x earnings before interest, taxes, depreciation and amortisation, as well as "leveraging its proven integration capability to drive growth, operational efficiencies and strong financial returns."
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India Capital Growth Fund Ltd - invests in companies based in India - First NAV total return is 3.1%, compared to a negative 9.3% a year ago. NAV per share rises to 193.17 pence at June 30 from 189.58p. Declares first interim dividend, of 1.9p per share. In March, said it intends to pay an annual dividend equivalent to 2% of the prevailing NAV per share, with its hope that this should increase over time. Chair Elisabeth Scott says: "Despite heightened geopolitical uncertainty and subdued international investor sentiment towards India, the company delivered positive NAV and share price returns in the first half of 2026 and outperformed its benchmark. The board remains optimistic about the long-term prospects for India, where improving valuations and historically low levels of foreign investor participation provide a compelling backdrop for future growth. Reflecting this confidence, the Board is pleased to announce the company's first interim dividend under its new dividend policy."
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By Aidan Lane, Alliance News reporter
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