EARNINGS AND TRADING: MedPal AI celebrates "record" July trading
The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Mincon Group PLC - Shannon, Ireland-based engineering firm - Reports revenue of EUR87.8 million for the first half of 2026, up 19% from EUR74.0 million the previous year. Says "the standout" was Construction, where revenue grew 23% year-on-year. Construction revenue in the Americas increases 81%. Mining revenue increases 18%, while waterwell/geothermal industry revenue grows 5%. Pretax profit multiplies to EUR9.0 million from EUR1.0 million. Earnings before interest, taxes, depreciation and amortisation surge 66% to EUR13.8 million from EUR8.3 million. "A significant positive is the improvement in mining where our product offering, coupled with high levels of customer service, is increasingly being appreciated and rewarded with market share gains," Chief Executive Officer Joe Purcell comments. Looking ahead, he says: "We are confident in delivering continued growth in profitability over the remainder of 2026. The future for our group is bright, and our teams are well placed to manage the various challenges ahead and take advantage of the profitable sales targets we are developing."
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MedPal AI PLC - London-based digital health and AI company - Stock closes up 11% after MedPal reports a "record" performance in July. Says its annualised recurring revenue run rate exceeds £8.6 million, up from £5 million as of June 1 and from zero in October. NHS prescriptions reach a new monthly record, rising 12% to 47,223 in July from 42,250 in May, with NHS prescription operations trading at an annualised turnover run rate of over £5.5 million. Software as a service revenue annualised at approximately £843,000 at an 82% gross margin. MedPal notes that all revenue is repeat revenue, and says it will be cross-selling its NHS prescription service to New Health private patients and up-selling its wider services "across its entire client base." Expects this "to accelerate revenue growth even further, with each customer supporting multiple recurring revenue streams." Also notes the final settlement of its acquisition of eMARx, expecting to pay final consideration once completion accounts are finalised, which should be by the end of this month. Reaffirms that it expects to pay final consideration of approximately £94,000, to be settled 35% in cash and 65% through the issue of new ordinary shares.
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Genedrive PLC - Manchester, England-based point-of-care pharmacogenetic testing company - Announces that the Erasmus MC University Medical Center in Rotterdam, the Netherlands, is implementing its MT-RNR1 ID Kit, having started on Monday. MT-RNR1 ID is Genedrive's rapid pharmacogenetic test to prevent antibiotic-induced hearing loss in newborns. Company notes that the kit is already in routine clinical use in over 20 neonatal intensive care units in the UK and worldwide. "Erasmus MC is internationally recognised for its leadership in pharmacogenetics, and we are pleased that rapid MT-RNR1 testing is being implemented to support time-critical prescribing decisions that help protect newborn babies from profound, irreversible antibiotic-induced hearing loss," says CEO Gino Miele. "We continue to see growing international momentum as healthcare systems increasingly recognise the value of rapid point-of-care pharmacogenetics in improving patient outcomes and supporting more efficient healthcare delivery. This latest deployment further strengthens our presence in Europe and builds on the growing adoption of our technology in the UK and internationally."
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Strix Group PLC - Ronaldsway, Isle of Man-based supplier of kettle safety controls - Reports financial results for the 15 months ended March 31, compared with 2024. Adjusted revenue rises 6.2% at constant exchange rates to £153.2 million from £144.2 million, "benefitting from [the] longer trading period," while adjusted pretax profit falls 44% to £10.1 million from £18.0 million but is "firmly within" its forecast range. Adjusted earnings before interest, tax, depreciation and amortisation fall 19% to £28.4 million from £35.1 million. Strix says that for the 12 months ended March 31, Controls revenue declines 24% to £52.9 million from £69.4 million, "due to the challenging macro environment and increased competition." Consumer Goods revenue increases 12% to £34.4 million at CER due to "higher bespoke filters and appliance volumes." Notes that prior to its disposal, which generated net cash proceeds of £102.0 million, Billi delivered "just under" 10% growth to £47.3 million at CER. Strix says it enters financial 2027 "with positive momentum," but that geopolitical developments are creating "commodity, currency and consumer demand uncertainty." Expects heightened competition and pricing pressures in the Controls market to continue. "With a strong financial position, market leading Controls brand and established expertise in water filtration, the board remains confident in Strix's ability to deliver sustainable long-term growth," Chair Gary Lamb comments.
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Georgia Capital PLC - Tbilisi-based investor in domestic businesses in Georgia - Net asset value per share in GEL is GEL175.12 as of June 30, "a record high," up 13% from GEL154.68 at December 31. NAV per share in sterling is £50.10, up 18% from £42.44 six months prior. Total portfolio revenue for the second quarter ended June 30 rises 14% to GEL590.5 million or £167.1 million, up 14% from GEL518.2 million the year before. Revenue for large private portfolio companies rises 19% to GEL522.7 million from GEL439.0 million. For the first half, total portfolio revenue increases 13% on-year to GEL1.15 billion from GEL1.01 billion. Large private portfolio companies' revenue increases 16% to GEL1.01 billion from GEL869.3 million. "This quarter represents another important step forward for GCAP, with outstanding portfolio performance, an exceptionally strong financial position and disciplined capital allocation continuing to translate into robust long-term value creation for our shareholders," comments Chair & CEO Irakli Gilauri. "Looking ahead, I believe Georgia Capital, supported by the excellent economic growth prospects in Georgia, is well positioned to continue delivering sustainable NAV per share growth over the medium to long term. Our GEL1 billion capital allocation programme further reinforces our commitment to disciplined value creation, balancing attractive growth investments, potentially including investments in Armenia, with continued shareholder returns, while progressing towards our long-term strategic priorities."
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