EARNINGS AND TRADING: Pebble Beach revenue grows as forecast
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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Pebble Beach Systems Group PLC - Surrey, England-based software company - Reports results for the first half of 2026. Revenue increases 10% to £6.5 million from £5.9 million, in line with company guidance. Recurring revenue increases 6% to £3.4 million from £3.3 million. Adjusted earnings before interest, tax, depreciation and amortisation rise 25% to £2.5 million from £2.0 million. Pretax profit more than triples to £1.8 million from £465,000. Adjusted pretax profit climbs 73% to £1.9 million from £1.1 million. Looking ahead, Pebble Beach says it "is very well-positioned with a strong order book, increased recurring revenue, very healthy cash flows and an encouraging pipeline of new opportunities," and "is confident of continuing progress in the current financial year and beyond."
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Carclo PLC - London-based provider of precision components - Closes down 5.9% in London after releasing a trading update. Says trading in its current financial year to date, starting April 1, has shown a strong margin performance with underlying operating profit and return on sales both in line with internal expectations. However, year-to-date revenue is "slightly behind the same period in the prior year," which Carclo says reflects the phasing of Design & Engineering tooling programmes and a slow first quarter for Manufacturing Solutions volumes, although volumes are recovering going into the second quarter. Says Aerospace demand is still high and parts of Life Science "continue to perform well, while demand from certain diagnostics customers remains softer." Says net debt as of July 31 was higher than at the end of its latest financial year, "due to both the extension of leases to existing US properties and the timing of working capital flows." Expects the outflow to reverse by the end of the second quarter, with net debt excluding leases at the end of the first half back in line with the year-end total. "Order activity and new programme launches support positive organic revenue growth for the full year," Carclo says. "The board's expectations for the full year remain unchanged, and in line with the previously communicated targets under the Precision 2030 growth plan."
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Made Tech Group PLC - London-based provider of digital, data and technology services to the UK public sector - Closes up 6.3% after announcing its selection as a supplier to three lots under the Met Office's new Delivery Partnerships Framework 2, "a four-year framework intended to support the development and delivery of future technology solutions across the full lifecycle of Met Office products & services." Made Tech says it was successful in all three lots for which it tendered, providing "potential future contract wins as contracts are awarded over the four year term". Notes however that it has won no contracts at this stage, and will announce any awarded as appropriate. "As is customary with public sector frameworks of this nature, there is no guaranteed level of expenditure or revenue attributable to Made Tech," it adds. Believes its selection for Lot 3 is "of particular strategic importance," as it "covers work requiring higher levels of security clearance," thereby leaving an opening "to compete for a broader range of higher-security government work". This "represents important progress in the group's strategy to build its presence in the Defence sector, leveraging the capabilities and experience it has developed across Public Safety and Central Government."
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PureTech Health PLC - Boston, Massachusetts-based biotech and pharmaceutical company - Founded entity Seaport Therapeutics reports positive topline results from the phase 1 Driving Simulation Trial of GlyphAllo, also known as SPT-300 or Glyph Allopregnanolone, in healthy participants. Says the trial met its primary endpoint, demonstrating that evening dosing of GlyphAllo at 375 milligrams did not impair next-morning driving performance, compared to a placebo, on day 5. Says Seaport plans to submit the results to the US Food & Drug Administration as part of the ongoing development program for GlyphAllo. GlyphAllo is in development as a potential treatment of major depressive disorder. PureTech adds that Seaport is enrolling patients in the BUOY-1 phase 2b trial to investigate the safety and efficacy of GlyphAllo in patients with MDD, with or without anxious distress. Expects topline results in the first half of 2027.
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Fusion Antibodies PLC - Belfast-based contract researcher providing discovery, design and optimisation services for therapeutic antibodies - Canadian Intellectual Property Office grants its CA 3115150 patent application, entitled 'Antibody Library and Method'. It covers two families of antibodies, and the method for the design of such antibody libraries. Fusion expects the patent to complement its offering to provide 'Opti' designed antibody libraries for various applications, including antibody discovery, affinity maturation, and sequence optimisation. Says it continues to progress additional patent applications regarding the OptiMAL Library in several other regions, including Europe and China.
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