24th Jul 2025 13:15
(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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Volution Group PLC - Crawley, England-based energy efficiency and indoor air-quality solutions firm - Reports continued good progress in the financial year ending July 31. As a result, expects adjusted earnings per share to be slightly ahead of current Bloomberg market consensus of 32 pence, would be growth of 14% from 28.0p the year prior. Volution expects to deliver organic revenue growth on a constant currency basis for the financial year of over 5%, up from 4% at the half year. This is ahead of the firm's target range of 3% to 5%, Chief Executive Ronnie George says. Total revenue growth is expected to be over 20% from GBP347.6 million in financial 2024, including an eight-month contribution from Fantech, acquired in December 2024. Volution notes strong organic growth in the UK has been underpinned by continued growth in residential revenue, while continental European revenue growth is expected to be slightly stronger in the second half than in the first half. In Australasia, second half market conditions and organic revenue performance have continued to remain broadly unchanged from the first half, with a challenging demand picture in New Zealand contrasting with a good performance in Australia. Expects adjusted operating margins to be broadly in line with the first half of the year, with operating margins on an organic basis expected to increase modestly.
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discoverIE Group PLC - Surrey, England-based designer and manufacturer of electronic components for industrial applications - Performance in the three months to March 31 is in line with prior guidance and expectations for adjusted earnings for financial 2026 remain unchanged, company says. Sales are up 3% year-on-year, with organic performance continuing to strengthen over last year. Three of the four operating units - Sensing, Connectivity and Magnetics - delivered good levels of organic sales growth. This was offset by the Controls operating unit, where demand remains subdued. Orders were 4% lower at constant currency year-on-year following a strong previous quarter and against a strong first quarter last year. Excluding one large booking last year, underlying orders grew by 2% organically. There continues to be a strong order book for delivery through the remainder of the year. Gross margins are robust and working capital tightly managed. "With an excellent pipeline of organic and inorganic opportunities and strong cashflow, the group is well positioned to continue its through-cycle growth as market conditions further stabilise," discoverIE says.
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Yellow Cake PLC - Jersey-based investment company offers exposure to the uranium spot price - Pretax loss amounts to USD469.2 million in the financial year to March 31 swung from a profit of USD727.0 million a year prior. This reflects a 26% decrease in the spot price of uranium leading to a USD456.1 million decrease in the fair value of the group's uranium holdings. Net asset value per share declines to 505 pence per share from 688p a year ago. "Geopolitical uncertainties have resulted in a softer uranium price over the past 12 months. However, recent shifts in key factors impacting the uranium price give us considerable optimism. Our view is that current uranium prices do not reflect the underlying supply and demand dynamics," says Chief Executive Andre Liebenberg. The CEO believes Yellow Cake is strategically poised to deliver long-term value as the uranium market tightens, with global nuclear demand soaring, projected to reach a record high in 2025. "This is by fuelled by policy shifts, leading to restarts in Japan, and new builds in China, India, and Europe," Liebenberg says.
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Victoria PLC - Worcester, England-based designer, manufacturer, and distributor of innovative flooring products - Pretax loss widens to GBP239.6 million in the financial year to March 29 from GBP95.7 million a year prior. Underlying revenue drops 8.9% to GBP1.12 billion from GBP1.23 billion and underlying earnings before interest, tax, depreciation and amortisation falls 28% to GBP113.7 million from GBP159.0 million. Performance in the financial year was hurt by lower volumes as a result of macroeconomic headwinds across end-markets, with demand 15% to 25% below 2019 levels across different geographies, and margins hurt by operational leverage, Victoria says. It has identified further cost savings of GBP50 million to be achieved by the end of financial 2027, in addition to the GBP32 million already eyed. These savings are expected to return the business back to a mid-teen Ebitda margin before the impact of cycle recovery. "Market conditions remain at trough levels although there are tentative signs of stabilization, particularly in the UK and Southern Europe," company says. In addition, Victoria announces the refinancing of its 2026 senior secured notes, extending maturity to 2029. This "provides additional liquidity, which will increase operational flexibility to accelerate self-help cost savings," and "maximises near-term cash flow to invest in growth and margin improvement initiatives," company adds.
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Iomart Group PLC - Glasgow, Scotland-based provider of secure cloud services - Swings to pretax loss of GBP53.2 million in the financial year that ended in March from a profit of GBP8.7 million the year before. Revenue climbs 13% to GBP143.5 million from GBP127.0 million a year ago but bottom line is hit by GBP52.9 million impairment charge. Passes on payment of a final dividend. Says dividends will be restored based on improved operating profitability and a reduced overall level of indebtedness. Sales at Atech rise 27%, driven by the continued expansion of services within its existing customer base, but fall 7% at Iomart cloud services. Says actions have been taken to deliver annualised cost savings of around GBP4 million, with the benefits becoming visible in the second half of 2026. Iomart points to improved Cloud managed services net order bookings which have provided a more stable start to financial 2026. Adds first quarter trading was in line with expectations. But plans to further review medium-term opportunities to enhance efficiency and reduce the cost base and debt position, including a review of the group's data centre footprint and the expansion of its Indian offshoring operations.
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SysGroup PLC - IT services, cybersecurity and cloud hosting provider - Pretax loss narrows to GBP2.5 million in the financial year that ended March 31 from GBP6.6 million the year prior, although revenue drops 9.7% to GBP20.5 million from GBP22.7 million. Bottom line benefits from absence of charge for impairment of intangibles compared to a GBP3.7 million such cost the year prior. Exceptional items fall to GBP826,000 from GBP1.8 million. Lower revenue driven by churn and downsell of managed services contracts and low margin value add resale. The churn rate for financial 2026 has significantly reduced with sequential managed services growth over the last two quarters, company explains. "Given current visibility, we expect FY26 performance to be broadly in line with FY25, though we remain cautiously optimistic, Chief Executive Heejae Chae says.
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Treatt PLC - Suffolk, England-based extracts and ingredients manufacturer - Lowers its guidance for the financial year ending September 30. This is due to a reduction in second-half sales, lower repeat customer volumes amid "competitive pressures" and low US consumer confidence, and a weaker US dollar exchange rate that caused an around GBP500,000 profit headwind. Treatt now expects revenue between GBP130 million and GBP135 million, against its prior forecast of GBP146 million to GBP153 million. Pretax profit before exceptional items is now anticipated at GBP9 million to GBP11 million, revised down from GBP16 million to GBP18 million. Second-half revenue is now expected at GBP66 million, compared to its prior GBP82 million guidance. The firm reported GBP153.1 million in revenue and GBP19.1 million in pretax profit before exceptional items for financial 2024. Looking ahead, Treatt says: "The sales pipeline has strengthened during the year, and we continue to be focused on revenue opportunities and better margins in FY 2026 and beyond."
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Reach PLC - London-based newspaper, magazine and digital publisher, which owns the Mirror and Express brands - Posts pretax profit of GBP27.0 million for the six months ended June 30, down 18% from GBP32.9 million. Revenue declines 3.4% to GBP256.0 million from GBP265.0 million. Within this, Print revenue falls 4.8% to GBP194.1 million from GBP204.0 million a year ago, while digital revenue grows 1.8% to GBP61.1 million from GBP60.0 million. Reach declares an interim dividend of 2.88 pence per share, unchanged from the year before. "Over the past six months we have performed well. Our audience growth has been driven by our innovative content and distribution hubs, our in-house recommender tools, and our US expansion. Digital revenue continues to grow, supported by reliable print revenues, despite a challenging market and set against a strong events comparator," says Chief Executive Officer Piers North. "With our market leading scale, editorial impact at both national and local levels, and strong operating profit margin, we are confident that our priorities will set us up for future success." Reach expects to meet its 4% to 5% adjusted operating costs savings target for the full year, and anticipates meeting a company-compiled market consensus for GBP99.0 million in adjusted operating profit. This would be down 3.2% from GBP102.3 million in 2024.
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Severfield PLC - York, England-based structural steel contractor - Swings to pretax loss of GBP17.5 million in the financial year that ended March 29, from pretax profit of GBP23.0 million in the year that ended March 30, 2024. This is caused by revenue declining 2.7% to GBP450.9 million from GBP463.5 million and operating costs increasing 5.9% to GBP464.7 million from GBP439.0 million. Severfield says it was a "difficult" year for the group. "Whilst we performed well operationally, delivering a diverse range of projects for clients across many of our key market sectors, tough market conditions in the UK and Europe, combined with the ongoing bridge remedial works programme, contributed to weaker financial results," says Non-Executive Chair Charlie Cornish. "Despite the current market backdrop, we have secured a strong baseload of work for FY26 and into FY27, and we continue to see some good projects coming to market. Supported by our stronger financial position and proven track record of delivery, we are well placed to benefit from the anticipated market recovery," Cornish adds. "Looking further ahead, we have a prominent position in market sectors with strong growth potential and are well-positioned to win projects in markets with positive long-term growth trends including those which are driving the green energy transition," he continues.
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Quartix Technologies PLC - vehicle tracking software firm - Pretax profit rises 30% to GBP3.5 million in the six months to June 30 from GBP2.7 million a year prior. Revenue increases 9.3% to GBP17.6 million from GBP16.1 million. Basic earnings per share increases to 5.52 pence from 4.49p. Annualised recurring revenue increases by 13% on a 12 month trailing basis to GBP35.0 million from GBP30.8 million. Executive Chair Andrew Walters says the company made "great progress" in the first half. "The board is confident in the outlook for the remainder of the year and now believes that both profit and cashflow will be slightly ahead of market expectations," Walters adds.
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By Jeremy Cutler, Alliance News reporter
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Volution Group PLSDiscoverIEYellow CakeVictoriaIomartSysgroupTreattReach PlcSeverfieldQuartix Tech