EARNINGS AND TRADING: PZ Cussons profit soars; Digitalbox profit hit
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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PZ Cussons PLC - Manchester-based maker of Imperial Leather and Carex - Pretax profit balloons to £77.4 million in the financial year ended May 31 from £6.5 million the year prior. Revenue climbs 5.4% to £541.4 million from £513.8 million, with adjusted like-for-like growth of 5.8%. Basic earnings per share total 4.70 pence, swung from losses of 1.38p. The total dividend is lifted to 3.70p per share from 3.60p. "We delivered a strong trading performance in FY26, with revenue growth across each of our four lead markets and each of our top ten brands. Combined with structural cost savings and more favourable FX movements in Nigeria, this translated into adjusted operating profit growth of nearly 25%," says Chief Executive Jonathan Myers. Operating profit in the year amounts to £86.8 million, up from £20.6 million and rises 8.4% to £59.5 million, from £54.9 million on an adjusted basis. Meyers says the current year has "started in line with expectations and we are pleased with the continued early signs of progress." PZ Cussons expects to deliver adjusted operating profit in line with current market expectations of £58.0 million to £61.2 million.
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CAB Payments Holdings PLC - London-based payment processing firm - Reports pretax profit of £14.6 million in the six months ended June 30 versus £3.1 million the year prior, with total income of £67.6 million, up 31% from £51.8 million. Says 32 new active clients added in the half taking total active clients to 601, up from 592 a year ago. Declares inaugural dividend of 2.1 pence per share equivalent to 40% of first 2026 adjusted profit after tax. Also sets out capital management framework and establishes a mechanism to return capital to shareholders. Will maintain a target CET1 ratio over the medium term of between 16.5% and 17.5%. Surplus capital utilisation will be assessed first for internal investment and growth opportunities, as well as inorganic opportunities. Targets 8% to 12% of total income per annum for capital expenditure. Intends to establish progressive dividend from 2027 growing at a mid-single digit rate per annum. Remaining surplus above the target CET1 range, is to be returned over time through share buybacks and/or special dividends. Looking to the second half, the group expects to drive higher client volumes and activity, underpinned by strong client relationships, new market opportunities, and execution of a healthy pipeline. In addition, CAB Payments announces that Chair Ann Cairns intends to step down no later than the end of 2026. The process of appointing a successor will consider both internal and external candidates.
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Tekcapital PLC - intellectual property investment group - Operating pretax profit is USD144.8 million in the six months ended June 30 versus USD5.4 million the year prior. Portfolio return and revenue totals USD145.5 million versus USD6.2 million. Basic and diluted earnings per share are USD0.57 compared to USD0.03. Net asset value per share is USD0.78, up from USD0.27 at December 31, with net assets reaching a record USD201.7 million versus USD55.1 million at the end of 2025. Director Louis Castro says the majority of the value uplift during the period is attributable to Vesari Inc, in which the firm was granted a 51% equity stake in May.
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Mears Group PLC - Gloucester, England-based provider of housing and social care - Pretax profit rises 18% to £38.0 million in the six months ended June 30 from £32.0 million the year prior. Diluted EPS is 36.01 pence versus 27.68p. Revenue is flat at £560.0 million. Strong growth in maintenance-led activities, offset by anticipated reduction in management-led revenues. This rebalancing between maintenance-led and management-led activities is a trend that is expected to continue. Operating margin reduces to 5.2% from 5.6% owing to an intensive period of new contract commencements but remains within stated range. The dividend is boosted 11% to 6.20p from 5.60p. Mears says it is well positioned to deliver results for the full year in line with market expectations for revenue and adjusted pretax profit of £1.04 billion and £50.7 million respectively.
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Corero Network Security PLC - London-based cybersecurity firm specialising in distributed denial of service protection - In a trading update, says revenue increases 42% to USD15.5 million in the six months ended June 30 from USD10.9 million the year prior. Order intake rises 14% to USD14.3 million from USD12.5 million. Annualised recurring revenues grow 12% to USD24.1 million from USD21.6 million. Gross margin is 93% compared to 91%. Expects earnings before interest, tax, depreciation and amortisation to be USD2.6 million versus a loss of USD1.4 million the year prior. Cash balance at June 30 is USD2.1 million, down form USD3.1 million a year ago, with no debt. The increase in revenue is driven by a combination of the 2025 ARR providing revenue visibility in 2026, renewals and upsells with existing customers and continued new customer wins.
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Digitalbox PLC - Peterborough, England-based digital media company and owner of brands such as Daily Mash, Tab and TV Guide - Warns full-year revenue and Ebitda will fall short of market expectations after Meta Platform Inc's algorithm changes hit audience traffic from the second quarter. The digital media company reports first-half revenue fell 12% to around £1.7 million with Ebitda broadly at breakeven. DigitalBox says it is launching a Creator Network of more than 200 creators to diversify revenue through original video content and branded partnerships, while targeting an Ebitda margin of around 8% for 2026.
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Develop North PLC - Newcastle, England-based investor in the residential and commercial property sector - Net asset value per share decreases from 77.5 pence to 74.8p over the six months ended May 31. Taking the effects of dividend distributions into account, this has resulted in a NAV total return for the period of minus 0.9%. The reduction in NAV during the period is largely attributable to one-off costs associated with the launch of Develop North's new prospectus, the implementation of its revised investment strategy and the strengthening of the management team. While the costs have had a short-term impact on earnings and NAV, the board views them as essential investments in the future growth of Develop North and as fundamental indicators of confidence in the prospects for the region in which the firm focuses and invests. Firm says it intends to pay a quarterly dividend of 1p per share.
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