19th Mar 2026 11:40
(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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LSL Property Services PLC - Newcastle-upon-Tyne, England-based provider of services to mortgage intermediaries and franchised estate agencies - Pretax profit in 2025 is flat on-year at GBP23.1 million, but revenue rises 5.6% to GBP182.9 million from GBP173.3 million. "2025 has been a year of strong delivery and building momentum for LSL. We improved profitability across each division, achieved record margins and generated strong cash, while continuing to invest for future growth. Markets are evolving, and so are we. 2025 has been a year of significant activity for the group. We are focused on disciplined execution and converting the scale and capability of the group into sustained profit growth and continued high returns on capital. Trading in 2026 has been in line with our expectations," Chief Executive Adam Castleton says. It maintains its final dividend at 7.4 pence per share, keeping its total dividend at 11.4p per share.
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Eurocell PLC - Derbyshire, England-based manufacturer, recycler and distributor of window, door and roofline PVC products - Pretax profit in 2025 falls 12% to GBP12.2 million from GBP13.8 million, though revenue rises 13% to GBP403.5 million from GBP357.9 million. Administrative expenses rise 9.6% to GBP160.0 million from GBP146.0 million. "Our financial performance in 2025 was resilient, in the context of trading conditions that remained subdued. We delivered an increase of 6% in adjusted operating profit despite lower organic volumes, thanks to a strong contribution from Alunet and effective cost control. Our cash generation was good and our financial position remains strong," Chair Derek Mapp says. "We have continued to invest to maintain momentum with our strategy and we are planning to deliver further progress in 2026. The acquisition of Alunet in March is a compelling strategic fit for Eurocell and the business is performing strongly under our ownership." Demand in the repair, maintenance and improvement market "remains sluggish, and we are therefore continuing to focus on operational improvements and cost control", Mapp says. Eurocell ups its final dividend by 5.1% to 4.1 pence per share from 3.9p. Its total dividend increases 4.9% to 6.4p from 6.1p. A GBP5 million buyback was completed in March. Eurocell plans "to continue share buybacks, assuming no prolonged impact from the situation in the Middle East and subject to maintaining a strong financial position".
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tinyBuild Inc - Bellevue, Washington-based video game developer and publisher - Pretax loss in 2025 narrows to USD2.9 million from USD20.0 million, while revenue falls 17% USD35.5 million from USD30.4 million. "2025 was a year of steady progress in an industry that remained highly competitive, but where the outlook has continued to improve as the market works its way out of the post-pandemic low. Steam continued to set new engagement records, despite funding remaining scarce and studio closures continuing, if at a slower pace compared to prior year. In that context, we stayed focused on what has worked for tinyBuild over the last few years: expanding existing franchises, building new IP that connects with players, and validating every project early through demos, playtests and tight community feedback loops," the firm says. tinyBuild swings to adjusted earnings before interest, tax, depreciation and amortisation of USD5.6 million from a USD6.1 million loss. It adds: "2025 saw a strong Ebitda performance, but uncertainty remains in a crowded market."
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Schroder Asian Total Return Investment Co PLC - invests in firms in Asia Pacific region - Net asset value per share at December 31 year end rises 11% to 566.11 pence from 509.04p the year prior. "The company delivered a strong year of absolute performance," it says, though its 14% NAV total return trailed its reference index which returned 21%. "Despite this short-term relative underperformance, it is worth noting that since the start of 2026 the strategy is once again outperforming the reference index," it adds. It leaves its dividend at 11.5p per share.
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VH Global Energy Infrastructure PLC - renewable energy investment trust - Net asset value per share at December 31 year end down 0.9% to 102.28 pence from 103.21p the year prior. Total dividend is lifted 1.6% to 5.80p from 5.71p. An asset realisation process was approved in August. "Preparatory work for the realisation process commenced during the year, and Victory Hill Capital Partners LLP focused on positioning the most mature assets for sale, advancing projects under construction, and actively assessing market conditions for asset realisation across relevant energy markets," it adds.
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British Smaller Cos VCT PLC and British Smaller Cos VCT2 PLC - venture capital firms managed by YFM - British Smaller Cos VCT says its net asset value per share at the December 31 half year-end totals 78.70 pence, down 1.7% from 80.05p in September. It says: "The start of 2026 has seen further macroeconomic volatility, with the conflict in the Middle East adding to a challenging environment. There has also been a more cautious market view of software businesses, which has the potential to weigh on the valuations of portfolio companies in the near term; nonetheless, the portfolio continues to be positioned to benefit from an increasingly AI-led world. This, alongside the company's strong liquidity position leaves it well-placed to manage downside risks, as well as deploy funds from its recent capital raise into promising new opportunities across the UK." British Smaller Cos VCT2 NAV per share at December 31, which is its financial year end, falls 4.7% on-year to 54.40p from 57.10p. It says: "The company's portfolio is well positioned, and we are optimistic about its potential to deliver value over the long-term. During 2025, the company was pleased to be able to continue to provide follow-on funding to accelerate the growth of its strong performing portfolio companies and we expect this strategy to continue into 2026."
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US Solar Fund PLC - investing in utility-scale solar power plants across North America - Net asset value per share at December 31 year end falls to USD0.60 from USD0.63 a year prior. "In 2025, the board's focus has been clear: to maintain financial strength, improve operational reliability and preserve strategic optionality. The board and investment manager worked closely together to deliver on these priorities within the practical constraints of the portfolio and prevailing market conditions," Chair Gill Nott says. It declares a 0.255 cents per share fourth quarter dividend, down 55% from 0.57 cents a year prior. "While remediation initiatives aimed at improving operational reliability have not yet translated into sustained improvements in generation and cash flow, meaningful progress has been made in addressing the underlying issues. In this context, the board determined that preserving liquidity and strengthening the balance sheet remain the company's immediate financial priorities. Accordingly, and after careful consideration, the board has decided to temporarily pause regular dividends," it says.
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LMS Capital PLC - assets in the retirement living and energy sectors - Net asset value per share at December 31 down 20% to 35.9 pence from 44.8p the year prior. It is currently in a managed realisation of assets, conducting returns of capital to shareholders over time. It made its first return of 2.0p per share, totalling GBP1.6 million, in July.
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Fortis Frontier PLC - cash shell - Pretax loss in 2025 narrows to GBP1.6 million from GBP1.8 million. It was an "eventful year", it says. It sold its only trading subsidiary Concepta Diagnostics to Boots UK Ltd for GBP2.4 million in November. "Since the disposal of CDL the board has reviewed, and reduced, the operating costs of the group whilst it carefully considers the strategic options open to it with a view to maximising shareholder value," Fortis Frontier says. The cash shell has "been approached by a number of businesses seeking investment through a reverse takeover". "Given the current uncertainty in the global economy due to the ongoing conflicts in the Middle East and Ukraine, the directors are taking time to carefully consider and evaluate all such approaches to ensure the most appropriate strategic option is chosen in the best interests of the company and its shareholders," it adds.
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Investacc Group Ltd - pensions services provider - Pretax loss in 2025 stretches to GBP4.8 million from GBP1.5 million and revenue amounts to GBP15.0 million from GBP2.5 million. On a pro-forma basis, 2024 revenue was GBP10.5 million. "2025 has been a year of excellent strategic progress, with the group strengthening its market position and operational capabilities. Building on the transformative acquisition of InvestAcc Holdings Ltd in October 2024, we have accelerated growth through a combination of organic expansion and the successful acquisition and integration of the Platinum acquisition. The Platinum acquisition has reinforced our standing as a leading specialist pension administrator," Executive Chair Mark Hdges says. Retail investment platform provider AJ Bell PLC in March announced a deal to sell its Platinum business to fellow London-listing InvestAcc Group. InvestAcc says Thursday: "The Platinum acquisition added 3,412 schemes, contributing to a 47% increase in total active pension schemes, which reached 18,329 as of December 2025."
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By Eric Cunha, Alliance News news editor
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Schroder AsianBr.small Co.2Br.smaller Cos.Tinybuild IncEurocellInvestacc GroupAJ BellFortis FrontierLms CapitalUs Solar FundVh Global Ener.Lsl Prop