EARNINGS AND TRADING: Star Energy loss narrows; Pebble trading robust
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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Mincon Group PLC - Shannon, Ireland-based engineering firm - Provides a trading update for January 1 to date. Says the positive momentum from 2025 has carried forward into the first quarter of 2026, reflected in the strengthening of order books driven by robust demand for products within the construction industry. The growth in large-scale construction projects across North America has been the primary factor contributing to increased revenue on-year, Mincon says. As anticipated, gross margin has improved, although expansion has been constrained by a significant rise in the cost of carbide. Where feasible, these increased costs are being passed on to customers, Mincon notes. ‘We are actively pursuing new opportunities in both the construction and mining industries across all our operating regions and remain positive that the improvement in performance can be sustained during the year,’ company says.
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Star Energy Group PLC - Lincoln, England-based energy producer in the UK - Pretax loss narrows to £7.8 million in 2025 from £12.6 million the year prior although revenue falls to £34.7 million from £43.7 million. Net debt declines to £4.3 million from £7.5 million. For 2026, anticipates net production of 2,000 barrels of oil equivalent per day and operating costs of $44/boe, after averaging 1,886 boepd in 2025. Capex is seen at £6.6 million in 2026.
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Zoo Digital Group PLC - Sheffield, England-based digital media service provider - Expects to report adjusted earnings before interest, tax, depreciation and amortisation of at least $3.8 million for the financial year ended March, in line with market expectations. This has been achieved on revenue of $42.3 million, which reflects ‘decisive actions’ taken to restructure the cost base with $7.3 million of savings realised during the period. Cash at March 31 is $3.2 million with borrowings of $1.1 million drawn against invoice financing facilities. Zoo Digital believes market consensus is for full-year revenue of $42.3 million, adjusted Ebitda of $3.8 million and cash of $2.5 million. Chief Executive Stuart Green says: ‘We expect improved trading following a period of stabilised market conditions and a strong focus on execution of cost efficiencies. ZOO today is a more robust and efficient business, with a rightsized cost base capable of generating improved profitability in the current market environment.’
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Pebble Group PLC - Manchester, England-based company which provides products and services to the global promotional products industry - Trading year-to-date has been robust, Pebble Group says in a trading update, with revenue and adjusted Ebitda ahead of the prior year. The working capital cycle is progressing in line with its normal seasonal pattern, with strong annual cash generation continuing to support returns to shareholders, it says. ‘Our FY 26 outlook remains in line with market expectations,’ Pebble adds.
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Watkin Jones PLC - London-based residential for rent developer and operator - Continues to see strong operational performance during half-year to March, with in-build schemes achieving margins in line with guidance. First half operating profit is expected to be at a similar level to last year’s £400,000, despite a reduction in revenue caused by lower levels of transactional activity. Watkin Jones says it is taking ‘proactive’ steps to mitigate potential increases in build cost inflation, including earlier procurement of selected sub-contract packages and forward buying of materials.
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Kendrick Resources PLC - mineral exploration and development company with projects in Namibia and Sweden - Pretax loss narrows to £2.6 million in 2025 from £3.4 million the year prior. Takes a £2.2 million impairment provision against the Airijoki vanadium licences in Sweden due to a poor funding market for the project, but this is lower than a £2.7 million charge in 2024. Has around £7,000 cash at bank at the year end compared to £18,000 the year prior. Basic and diluted loss per share of 0.91 pence compares to LPS of 1.40p a year ago.
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Sulnox Group PLC - London-based green fuel technology developer - Reports record revenue of £2.6 million in the financial year to March, more than double the prior year’s £1.1 million. This includes record fourth quarter revenue of £929,000 versus £471,000 in the prior year. Growth is driven by increasing customer uptake, repeat ordering and the expansion of distribution across key marine fuel hubs, strengthening the company’s ability to scale across international fleets, it says. The business has also continued to broaden its reach beyond marine, with growing engagement across land-based sectors. Cash balance is £822,000 at March 31 versus £1.1 million as the end of 2025. Says momentum has continued into the first quarter of the new financial year. Chief Executive Ben Richardson comments: ‘This has been a year of strong commercial progress, with adoption accelerating across global shipping fleets and supported by expanding distribution coverage in key markets. The industry backdrop continues to move in our favour.’ The CEO adds: ‘We are well positioned to continue building momentum through 2026.’
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