EARNINGS AND TRADING: S4 Capital OK's dividend; Zotefoams profit rises
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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Zotefoams PLC - Croydon, London-based provider of foams, insulation, seals and interior trims - Pretax profit rises 23% to £14.0 million for the six months ended June 30 from £11.4 million the year prior, with basic earnings per share of 23.60 pence versus 19.99p. Revenue is up 23% to £95.2 million from £77.4 million with organic growth of 4%. The interim dividend is lifted 5.2% to 2.63p per share from 2.50p. Europe, Middle East & Africa sales rise 20%, North America revenue is up 29% Asia revenue more than doubles. Adjusted operating profit climbs 34% to £16.3 million from £12.2 million, with the adjusted operating margin up 130 basis points to 17.1% from 15.8%. Zotefoams says it remains confident in its ability to deliver its medium-term financial ambitions of revenue greater than £230 million and operating profit greater than £40 million by FY2029. Full-year 2026 expectations are unchanged.
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S4 Capital PLC - London-based advertising agency - Pretax loss narrows to £100,000 in the six months ended June 30 from £25.1 million the year prior. Net revenue is £308.0 million, down 6.2% from £328.2 million on-year, 4.7% lower on a like-for-like basis. Billings total £891.9 million, down 3.7% from £925.9 million. Approves an inaugural interim dividend of 1.35 pence per share in line with payout ratio of 50% of adjusted basic earnings per share. Will recommend a final dividend for 2026 in line with that policy. Expects 2026 full year LFL net revenue to be down mid-single digits, with operational earnings before interest, tax, depreciation and amortisation remaining at current analyst consensus level of £85 million and operational Ebitda margin to increase by 140 basis points. Year-end target net debt is lowered to a range of £50 million to £80 million from £60 million to £90 million before. "Our trading reflected the continuing impact of increasingly volatile global macroeconomic conditions, heightened by increasing geopolitical risks. Clients remained cautious amid this uncertainty, with technology clients/ hyperscalers continuing to prioritise and, indeed increase, capital expenditure on expanding AI capacity over operating expenditure," says Chair Martin Sorrell. He anticipates that clients will remain cautious in the near term reflecting heightened macroeconomic uncertainty, including the continuing conflict in the Middle East, but remains confident in the firm's strategy.
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Videndum PLC - Richmond, London-based provider of broadcasting hardware and software - Pretax loss narrows to £2.0 million in the half-year ended June 30 from £20.1 million the year prior despite revenue falling to £110.3 million from £115.4 million. "Trading conditions during the first half of the year were difficult. Revenue on a like-for-like basis was flat compared to the prior year. Performance suffered due to production line failures in Feltre as well as disruption arising from the conflict in the Middle East," says Executive Chair Stephen Harris. Due to the "ongoing challenging trading conditions", Videndum now expects full year adjusted Ebitda to be between £15 million and £18 million. It reports adjusted Ebitda of £3.0 million at halfway. Looking to the medium term, the firm expects to deliver revenue in excess of £350 million, together with a mid‑teens adjusted Ebitda margin.
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Tullow Oil PLC - London-based oil and gas company - Raises full year free cash flow guidance to USD170 million to USD250 million from USD70 million to USD175 million before, reflecting positive production performance, higher than expected oil prices through January to end of July and progress on recoverability of Government of Ghana receivables. Group production averages 43,700 barrels of oil equivalent per day in the first half of 2026, with gross production from Jubilee 70,800 bopd, above expectations. Sales revenue is USD496 million, including USD47 million hedge costs. Gross debt reduces by US100 million to USD1.6 billion, and as at June 20 net debt is USD1.4 billion and liquidity headroom is over USD250 million. Group working interest production in 2026 is expected to be at the high end of the guidance range of 34,000 to 42,000 boepd. Full-year capital and decommissioning expenditure guidance remains at USD200 million and USD25 million, respectively. Tullow now expects to lift 14 cargoes in 2026 (11 from Jubilee and three from TEN), an increase of two cargoes from Jubilee versus initial guidance last November. Six cargoes were delivered in the first half with a further eight planned in the second half of the year.
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B90 Holdings PLC - Isle of Man-based, gambling industry-focused online marketing company - Says trading remains strong in the six months ended June 30, and B90 expects revenue for the period to be ahead of management expectations. This is driven by the strong performance of its core iGaming business and the ongoing optimisation of its proprietary AI-driven marketing platform. B90 continues to invest in both marketing and technology and, as a result, expects Ebitda in the half-year to remain comparable to the previous year. It remains confident in the outlook with the core iGaming business continuing to provide a profitable and highly cash-generative foundation.
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Windar Photonics PLC - London-based wind energy technology, including turbine performance optimisation - Says it has reached agreement for a further two product trials with significant wind farm operators in Europe and the US. The number of live trials and of turbines operated by the customers concerned are significantly higher than at any time in Windar's history, it notes. Explains that the trials typically last 3 to 6 months and are then followed by a further period of analysis and capital approval by the customer before orders are placed. "Given that Windar's technology is now proven across multiple platforms, the board are optimistic that a number of these trials will result in orders in late 2026 and 2027," it adds. Further, it states that Buzzacott LLP, its auditor, continues to conduct its audit of the full year results for 2025, and notes the third-party investigation into the circumstances surrounding the posting of certain sales orders in 2024 and 2025 continues to progress. A proposed equity fundraise is progressing and the company expects to make a further announcement within the next two weeks.
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