EARNINGS AND TRADING: Flowtech Fluidpower acquires Helipebs Controls
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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Aurrigo International PLC - Coventry, England-based transport technology provider - Reports revenue of £8.0 million for 2025, down 9.7% from £8.9 million for 2024. Says this was ahead of the revised guidance it announced in August, and was despite the volatile trading environment. Pretax loss widens to £3.9 million from £2.5 million. Other operating income decreases 33% to £499,000 from £750,000, and administrative expenses rise 13% to £7.8 million from £6.9 million. ‘The company continues to attract grant funding, both for operating activities and capital projects,’ says Chief Financial Officer Ian Grubb. ‘Other operating income for the year includes £0.5 million of grant-funded activity.’ Adjusted loss before interest, tax, depreciation and amortisation widens to £3.0 million, ‘in line with expectations,’ from £1.6 million. Aurrigo says revenue for the Autonomous division was ‘consistent’ at £2.6 million, while Automotive revenue ‘remained stable’ at £5.4 million, down from £5.9 million. Grubb notes a £11.5 million net cash position as of December 31, up from £3.1 million one year prior, which leaves Aurrigo ‘very well capitalised to support its next phase of growth.’ Chief Executive Officer David Keene says 2025 ‘was a very important year...marked by continued operational and strategic progress,’ adding: ‘The new financial year has started positively and the pipeline continues to build. We are making steady progress across our key programmes and working with customers to move from trials into real operational deployment. The level of interest and tender activity we’re seeing reinforces our belief the market is shifting...Airports are changing and automation is becoming a more practical and accepted part of how they operate.’
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Afentra PLC - Africa-focused oil and gas company - Raises gross $40 million through oversubscribed firm and conditional placing, completed by issuing 44.3 million new shares at 67 pence each. This comprises a firm placing of 22.6 million shares to raise approximately $20.4 million at the issue price, and a conditional placing of 21.7 million shares to raise approximately $19.6 million. The issue price represents a discount of approximately 5.2% to the closing mid-market price of 70.7p on Tuesday. Also announces a retail offer to raise up to £2 million through issuing up to 3.0 million shares, also at 67p each, to eligible UK investors.
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Hill & Smith PLC - Solihull, England-based infrastructure products provider - Chair Nick Anderson buys 3,750 shares at £27.47 on Thursday in London, for £103,011 in total.
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Flowtech Fluidpower PLC - Cheshire, England-based supplier of fluid power products, systems and solutions - Acquires the business and assets of ‘long-established’ company Helipebs Controls Ltd, which is based in Gloucester, England and specialises in designing and manufacturing hydraulic cylinders and systems. Flowtech says the approximately £400,000 consideration was financed from its cash resources, and it expects to recoup the expense from customer receipts before the end of financial 2026. For the remaining six months of the year, Flowtech expects Helipebs to contribute around £1.5 million in turnover and ‘modest’ positive Ebitda, followed by around £4 million in turnover and £500,000 in Ebitda. Says these expectations are ‘underpinned by Helipebs’ healthy order book and multi-year order commitments from a number of global blue-chip clients, securing a bright future and positive growth momentum’. ‘Helipebs is a strong addition to Flowtech, as it brings many years of technical and engineering experience in specialist hydraulic and pneumatic cylinders and systems serving significant and technically demanding customers worldwide,’ comments Flowtech CEO Mike England.
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Hamak Strategy Ltd - Africa-focused gold exploration firm and digital asset treasury manager - Reports ‘further high-grade’ drilling results from the Akoko oxide gold project in southwest Ghana. The assays are for a further seven shallow drill holes totalling 405 metres. Hamak says the results include near-surface, high-grade oxide gold intercepts of 2.12 grams per tonne of gold over 28 metres from a depth of three metres, and 1.57 grams per tonne over 14 metres from a depth of 16 metres. CEO Karl Smithson calls these zones, in particular, ‘highly encouraging’. Says they continue to confirm the geological model of near-surface, oxide gold horizons, with results from 29 of the planned 38 holes at Akoko North received and reported to date. Another seven holes remain for drilling in the Akoko North area before the rig moves to the Akoko South licence, where it is planning 36 reverse circulation drill holes over 1,940 metres. However, this depends on accessibility ‘due to increasing heavy rainfall in the region.’ ‘Results from our drilling programme at the Akoko gold project continue to be very encouraging. The latest batch includes further high-grade intersections that validate the geological model of near-surface oxide gold mineralisation in the northern area of the Akoko licence,’ Smithson comments.
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