EARNINGS and TRADING: Empresaria ups guidance as cost cuts bear fruit
The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Empresaria Group PLC - Crawley, England-based staffing provider - Reports revenue of £117.7 million in the six months to June 30, compared to £117.8 million a year prior, up 1% on a like-for-like basis. Of this, net fee income climbs 4.7% to £24.5 million from £23.4 million, or 10% LFL. Pretax profit jumps to £3.1 million from £100,000. Proposes no dividend, unchanged. Post-period end, says its service lines continued to trade in line with expectations but notes "better than expected impact" from the cost discipline programme and improved management oversight. Now expects 2026 adjusted profit before tax of at least £6.2 million, up from at least £5.2 million guided in July, representing an increase of 55% on the prior year. Chief Executive Officer Nigel Marsh says: "We are really pleased with the return of net fee income growth this year, which coupled with disciplined cost management has resulted in a significant improvement in profitability. All three of our service lines (being Global workforce solutions, Operational outsourcing and Specialist recruitment) delivered growth in adjusted operating profit, with Specialist recruitment returning to overall profitability. We remain focused on improving productivity and eliminating pockets of losses, whilst supporting the momentum that we are seeing from our larger brands. Whilst market conditions remain challenged, not helped by ongoing geopolitical issues, our first half year performance provides us with confidence in delivering profitable growth across all parts of the Group during the rest of the year."
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Maven Income & Growth VCT 4 PLC - venture capital trust - Net asset value per share at June 30 falls to 51.95 pence from 55.28p at December 30. Announces 1.5p per share interim dividend. Says "good levels of liquidity" positions it "to progress its investment strategy." Adds: 'With a healthy pipeline of investment opportunities currently under review across Maven's nationwide network, it is anticipated that there will be a steady rate of deployment through the second half of the year. In addition, the manager will pursue those exits that maximise shareholder value and support the annual dividend target yield of 6%."
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Globalworth Real Estate Investments Ltd - real estate company in Central and Eastern Europe - Publishes preliminary first half results. Reports portfolio value of EUR2.6 billion at June 30, up 0.4% from December 31. First half annualized contracted rent rises 3.2% to EUR195.5 million from EUR189.5 million a year ago. Net operating income climbs 2.1% to EUR68.4 million. EPRA earnings jump 36% to EUR24.0 million. Estimates pretax profit of EUR32.0 million compared to EUR21.2 million a year ago, with revenue improving to EUR119.9 million from EUR115.7 million. Declares an interim dividend of 7 euro cents per share, or a scrip dividend alternative to receive shares at a 20% discount to the middle market price. Plans to publish its interim report and financial statements for the six months to 30 June during the week of September 21.
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Faron Pharmaceuticals Ltd - Turku, Finland-based cancer drug developer - Reports no revenue in the six months to June 30, unchanged from a year prior. Pretax loss narrows to EUR8.5 million from EUR19.3 million. Research and development expenses rise 7.0% to EUR7.6 million from EUR7.1 million, while general and administrative expenses fall 26% to EUR3.5 million from EUR4.7 million. Cash and cash equivalents increase to EUR32.0 million from EUR13.5 million. Says it does not provide a short-term outlook due to the nature of its business. Chief Executive Officer Juho Jalkanen comments: "The first half of 2026 was a demanding period for Faron, which we successfully navigated with determination and hard work. We began the year with two main themes: advancing bexmarilimab’s development in HR-MDS and demonstrating that our lead asset is also suitable in other indications, especially in solid tumors. I am proud to say that we made decisive progress on both of these fronts during the first half and are very enthusiastic about the future."
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Hot Rocks Investments PLC - natural resources-focused investor - 43%-held investee changes its name to Suncrest Gold from Sunshine Gold ahead of its planned ASX listing. Suncrest raises AUD1.02 million, including AUD25,000 from Hot Rocks, before costs through an oversubscribed convertible note issue, above its initial AUD750,000 target. Proceeds will fund Suncrest's listing, exploration at its flagship Dexter project, heritage and land access costs and provide working capital. Additionally, lodges a tenement application for the Kimberley King gold project in Western Australia.
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Cornish Metals PLC - developing South Crofty tin mine in Cornwall, England - Notes "robust" tin prices during the second quarter, with a period-end spot price of USD56,600/tonne. Cash position at June 30 is £12.0 million, rising to £18.5 million as of Monday.
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