22nd Oct 2026 14:33
(Alliance News) - The following is a round-up of business updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Synthomer PLC - London-based developer of polymer chemicals - Says third-quarter trading is in line with its previously upgraded full-year expectations, with volumes, revenue and earnings before interest, tax, depreciation and amortisation continuing to grow compared with a year earlier. Synthomer attributes the improvement to product innovation, growth in the US and China, and cost efficiencies, despite elevated raw material costs stemming from Middle East supply chain disruption. Synthomer reaffirms its 2026 outlook and expects positive free cash flow before non-recourse receivables financing movements. It targets a reduction in its covenant net debt-to-Ebitda ratio to between 4.00 and 4.35 times by year-end, excluding further disposals, with leverage at the end of September lower than at the end of June. Synthomer says it completed the disposal of its Czech Republic-based Acrylate Monomers business on September 30 and is progressing with further divestments to reduce debt and sharpen its focus on speciality products. Expects positive momentum to continue into 2027.
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Arbuthnot Banking Group PLC - London-based merchant bank - Expects full-year 2026 pretax profit to be ahead of previous expectations, as customer deposits, lending and funds under management and administration all grow. Says customer deposit balances reach GBP4.9 billion at September 30, up 10% from GBP4.4 billion a year earlier, representing an increase of around GBP500 million. Customer loans and leased assets rise 12% to GBP2.5 billion from GBP2.2 billion, an increase of approximately GBP300 million over the 12-month period. Meanwhile, funds under management and administration climb 24% to GBP3.1 billion from GBP2.5 billion a year earlier, representing growth of around GBP600 million.
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Volex PLC - Basingstoke, England-based manufacturer of power and data transmission products - Completes its GBP20 million share buyback programme, announced in April and amended in July. Says it repurchased 3.7 million shares at an average price of 543.01p each.
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KRM22 PLC - London-based investor in technology and software companies, focused on risk management for capital markets - Signs two three-year customer contracts for its Risk Manager application, worth a combined USD1.3 million. One contract is with an existing customer and the other with a new customer. Says annual recurring revenue from Risk Manager now stands at GBP3.4 million across 18 customers. Separately, KRM22 reports the loss of a Surveillance Manager contract worth GBP200,000 in annual recurring revenue, following industry consolidation. Netting the new contracts and the lost contract, group annual recurring revenue rises to GBP8.5 million at current exchange rates. Chief Executive Officer Dan Carter says the company remains focused on achieving its year-end target.
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Ixico PLC - London-based medical research company, focused on analysing trial data using neuroscience imaging and biomarkers - Secures two Alzheimer's disease contracts worth a combined GBP1.5 million. The first contract involves managing and analysing neuroimaging for a Phase 2b clinical trial for a biotechnology company, with revenue expected to be recognised over approximately three years. The second is an extension with an existing international life sciences and diagnostics client, using IXICO's proprietary IXI technology platform to support the validation and regulatory approval of a blood-based biomarker for Alzheimer's diagnosis. Revenue from the second contract is expected within one year and adds to the GBP16 million order book reported earlier this week. The awards follow a trading update on Tuesday showing 28% revenue growth in financial 2026.
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Fusion Antibodies PLC - Belfast-based contract researcher that provides discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Secures a new contract worth more than GBP85,000 with a US-based division of a global pharmaceutical company under an existing master services agreement. The project involves transient gene expression of the client's lead antibody and a subsequent cryogenic electron microscopy study, with work expected to be completed within the current financial year. Says the award follows the successful completion of an antibody humanisation project for the same client and supports its strategy to deepen relationships with major pharmaceutical companies and diversify its revenue base.
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Metals One PLC - critical and precious metals project developer and investor with a focus on gold and uranium - Enters a binding term sheet to acquire the remaining 70% interest in South Africa-focused Lions Bay Resources Proprietary Ltd, in which it currently holds 30%. Plans to increase its stake to 49.99% by exercising an existing option, before acquiring the remaining 50.01% from Lions Bay Capital Inc and Salamander Consulting Ltd for GBP6.5 million through the issue of 500 million new shares at 1.3p each and 125 million warrants exercisable at 3.0p. The proposed acquisition would give Metals One full ownership of a South African gold and power business, including a 6-megawatt co-generation plant and a proposed acquisition of the Barbrook gold mine, which has a historical resource estimate of 2.1 million ounces. Metals One targets restarting gold concentrate production at Barbrook within six months, subject to completion of the mine acquisition. Former Harmony Gold Mining Co Ltd CEO Graham Briggs is expected to become chair of Metals One following completion, replacing Craig Moulton. The transactions remain subject to due diligence, shareholder and regulatory approvals, with definitive documentation targeted within 90 days.
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By Eva Castanedo, Alliance News senior economics reporter
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Related Shares:
SynthomerArbuthnotVolexKrm22 PlcIxicoFusion AntibodiesMetals One