11th Dec 2025 11:30
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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TruFin PLC - London-based holding company of three growth-focused technology businesses operating in early payment provision, invoice finance and mobile games publishing - TruFin expects its 2025 performance to be "materially ahead of previously guided market expectations" as it notes a strong performance across the back catalogue of games publisher Playstack. TruFin now sees revenue, adjusted earnings before interest, tax, depreciation, and amortisation and pretax profit at GBP60.3 million, GBP11.2 million and GBP7.0 million respectively. Revenue in 2024 totalled GBP55.0 million, the adjusted Ebitda amounted to GBP11.1 million and adjusted pretax profit came in at GBP7.5 million. "In light of this robust performance, TruFin's cash position at year-end is now expected to be stronger than originally forecast," TruFin adds. "The board remains committed to allocating capital where it generates the highest return profile for shareholders, when balanced with the risk profile of the potential returns. The board will continue to explore reinvestment opportunities, acquisitions, and the continual returning of excess funds in a disciplined and value-enhancing manner."
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Fairview International PLC - developer and operator of schools following the International Baccalaureate curriculum - The firm sees itself at an "inflection point", noting rising enrolment and "valuable real estate". "Fairview is also benefiting from strong macro trends in Malaysia, where demand for high‑quality, internationally recognised education continues to rise, including interest from families based in Singapore," Fairview adds.
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RWS Holdings PLC - Maidenhead, England-based language services and artificial intelligence solutions provider - RWS swings to a pretax loss of GBP99.7 million in the year to September 30, from profit of GBP60.0 million a year prior, while revenue falls 3.9% to GBP690.1 million from GBP718.2 million. RWS reports an impairment of goodwill and intangible assets worth GBP88.0 million, up markedly from GBP11.7 million a year prior. "FY25 was a pivotal year for RWS, as we moved to become a technology-led AI solutions partner, trusted to power seamless operations for global enterprises. Our new strategy is a recalibration of our value proposition," Chief Executive Officer Ben Faes says. "Our financial performance in the year reflected the challenges we face as our markets continue to evolve and it also validated our conviction that we can and must lead the shift in our industry. We have responded with decisive action, delivering material cost reductions in the second half and drawing us towards a leaner, faster operating model fit for a technology-led company." RWS says trading early in the new financial year has been encouraging. It expects low single digit organic constant currency revenue growth for the full-year. RWS recommended a final dividend of 4.6 pence per share, against 10.0p a year prior. It makes for a total dividend of 7.05p per share, cut from 12.45p. "The board is recommending rebasing the dividend to align shareholder returns more closely with sustainable profit performance. This will support the company's transition to a technology-led, AI-driven growth strategy. The board believes this rebased level will ensure sufficient investment capacity to accelerate the company's AI roadmap and M&A strategy, while maintaining a prudent financial footing. From this rebased level, the Board intends to resume a progressive dividend policy," RWS adds.
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Ilika PLC - Hampshire, England-based solid-state battery technology company - Ilika has begun shipping its new 10Ah Goliath battery prototypes to customers in various industries. These customers include automotive firms. "These new prototypes offer five times more capacity than the 2Ah P1 prototypes delivered to customers in July 2024," Ilika adds. "The 10Ah cells feature a proprietary oxide coating which offers improved safety, allowing electric vehicle manufacturers to design lighter and less expensive battery packs." Ilika notes that Balance Batteries, a consultancy in the automotive powertrain market, believes this technology can trim battery pack weight by 20% and cut manufacturing costs by GBP2,500 per vehicle. Ilika continues: "The company has also created initial samples of larger 50Ah P2 cells for testing, which will be available for shipping after feedback has been received on the current 10Ah cells which is expected during 2026."
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Physiomics PLC - Oxfordshire, England-based mathematical modelling for the development of new therapeutics and personalised medicines - Physiomics says it has signed a new contract with Numab Therapeutics AG, a "valued and long-standing client". The deal is for the provision of modelling and simulation approaches to support pre-clinical development of an antibody in the Numab pipeline. Physiomics says: "The project is expected to be delivered within the financial year ending 2026. This new contract further emphasies the important role that model informed drug development approaches continues to play across the drug development lifecycle, including in the pre-clinical environment."
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Allergy Therapeutics PLC - Sussex, England-based biotechnology company focused on allergy immunotherapies - Pretax loss in year ended June 30 is largely unchanged at GBP39.2 million, while revenue slips slightly to GBP55.0 million from GBP55.2 million. Allergy Therapeutics says revenue rises 2% at constant currency. "This year we focused on strengthening the business and building real momentum across the group. We sharpened our priorities, reinforced our financial position and pushed ahead with the programmes that will shape our future. It has been a year of disciplined progress and clear direction," Chief Executive Officer Manuel Llobet says. "Looking to 2026, we see a year of opportunity. We expect important regulatory milestones, further clinical readouts and continued commercial momentum. Alongside this, our decision to explore a dual primary listing on HKEX reflects our ambition to expand our presence in Asia and to engage more directly with investors in a region that is increasingly important for our long-term growth." Last month, it said it was preparing to evaluate a listing on the Main Board of Hong Kong stock exchange.
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Incanthera PLC - Manchester, England-based developer of technologies in dermatology and oncology - Pretax loss in six months to September 30 widens to GBP888,000 from GBP695,000 a year prior. Incanthera reports nominal revenue of GBP6,000 during the half-year, against none a year prior, though total operating expenses increase to GBP893,000 from GBP695,000. The period saw Incanthera launch its Skin+Cell range of skincare products on a direct to consumer website. "Establishing any new brand into a marketplace takes time, however, since launch, we have seen steady increases month on month, in traction across social media, hits to our website and conversion to sales. This is recognised in the positive feedback we have received from all users of the product range, unanimous in its praise on the dramatic effects on their skin, across all demographics," Chief Executive Officer Simon Ward says. "We have previously advised that we are actively exploring additional routes to market, alongside the DTC route. Discussions are progressing with a number of parties on potential collaborations and deals."
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Aberdeen New India Investment Trust PLC - invests in firms that are based in India or generate significant revenue from the country - Net asset value per share at September 30 half-year end declines 4.3% to 851.07 pence from 889.34p at the end of March. Its notes the MSCI India Index declines 1.8% during the period. "Following strong performance in the year ended 31 March 2025, your company's returns in the first half of the year ending 31 March 2026 were more muted amid significant market rotation and concerns about macroeconomic risks. This followed an extended period of exceptional performance for Indian equities which were among the top-performing emerging markets in recent years," Aberdeen New India says. "Punitive US tariffs remain a risk, although both Indian and US officials have signalled that negotiations are largely done, and the market is hopeful of a deal by the end of the calendar year."
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NewRiver REIT PLC - London-based real estate investment trust, which focuses on retail and leisure property - NewRiver strikes a joint-venture with the Mid Sussex District Council focused on the regeneration of a shopping centre. The duo will look to reinvigorate the "outdates 1970's" The Martlets shopping centre into a "modern and vibrant retail and leisure destination". The move hopes to create new homes and jobs. "The proposed development has planning consent to deliver 172 new homes, a 102 room hotel, 50,000 sq ft of new retail including a 21,000 sq ft food store and enhanced public realm," NewRiver says. The JV is conditional so far, and will be formalised "once a series of conditions have been realised". These include the sale of a residential site which is under offer, as well as pre-lets for a food store and hotel. Legal negotiations for the pre-lets are "well advanced". "It is anticipated that the agreement's conditionality will be satisfied by the end of March 2026, with construction due to commence summer 2026 and completing in 2028," NewRiver adds.
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Anglo Asian Mining PLC - gold, copper and silver producer focused on Azerbaijan - Anglo Asian reports two filter presses and thickener are now fully operational at the Gedabek flotation plant. The two presses were sourced at a cost of USD500,000. "The installation of the two new filter presses and thickener will increase future copper production," Anglo Asian adds. "Construction work on the project to increase the efficiency and productivity of the flotation plant will commence early next year, including the installation of an additional line of Imhoflot Pneumatic rougher and cleaner flotation cells. The company has already procured the Imhoflot Pneumatic cells which are on site." Anglo Asian has signed a deal worth USD1.6 million with engineering firm Proses Muhendislik AS for the installation of the cells. Anglo Asian reports that plant upgrades have led to a "record" month for copper output at Gedabek.
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Strategic Minerals PLC - mineral explorer and producer focused on Redmoor tungsten, tin and copper project in Cornwall, UK - Drilling at Redmoor "continues to deliver", the firm hails. Results from a third drillhole confirm "good structural and grade continuity". Strategic Minerals a "very high-grade tungsten intersection", "exceptional copper results" in a number of zones and "elevated silver values".
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Atlantic Lithium Ltd - West Africa-focused lithium exploration and development - Ghana's parliament has temporarily withdrawn the mining lease covering Atlantic Lithium's Ewoyaa lithium project. The withdrawal is to allow "further consultation in respect of Ghana's current mining code and the application of royalties". "As the country's most advanced lithium project, we remain in discussion with the government regarding the best way forward to deliver upon Ghana's critical minerals objectives. The company remains dedicated to securing terms for the mining lease that generate value for shareholders and its host communities and supports the government's commitment to securing a path towards delivering long-term benefits for Ghana through its mineral production," Atlantic Lithium adds. It is confident that the ratification of the lease will be forthcoming.
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Empyrean Energy PLC - oil and gas explorer focused on Duyung in offshore Indonesia - Pretax loss in six months ended September 30 narrows slightly to USD1.5 million from USD1.6 million a year prior. Empyrean generates no revenue in either period. "It continues to be a frustrating and challenging period for Empyrean," the firm says.
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By Eric Cunha, Alliance News news editor
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