EARNINGS: Cavendish hails ‘steady progress’; ProCook profit jumps
The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Cavendish PLC - London-based investment bank - Pretax profit in year to March 31 jumps 98% to £1.5 million from £748,000, with revenue up 2.2% to £56.9 million from £55.6 million. ‘FY26 was a year of steady progress. We stayed consistently profitable, maintained a strong debt-free balance sheet, and continued to invest in the people, systems and capabilities that will support long-term growth,’ Co-Chief Executive Officers Julian Moore and John Farrugia say. Looking ahead, the firm says: ‘In equity markets, near?term conditions remain influenced by political and macroeconomic uncertainty, particularly around inflation and interest rate expectations following recent energy price volatility. However, there are encouraging signs that, as these pressures normalise, capital flows could return to UK small and mid?cap equities, where valuations remain attractive. A potential shift back towards monetary easing would be supportive of a re?rating across the segment, providing a more constructive backdrop for activity and growth in the period ahead.’ Cavendish maintains its total dividend at 0.8p per share.
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ProCook Group PLC - Gloucester-based direct-to-consumer kitchenware brand - Pretax profit in the year to March 29 rises 65% to £2.5 million from £1.5 million and revenue climbs 23% to £85.5 million from £69.5 million. ProCook hails a ‘strong start’ to the new financial year, with revenue in the first quarter surging 22%. It adds: ‘In FY27 we expect to continue to drive increased revenue through our ongoing initiatives, including the benefit of annualisation and increased maturity of new retail stores opened last year, and the planned opening of between five and eight net new stores. We anticipate broadly maintaining gross margins, and with our continued focus on cost discipline across our business, we will continue to re-invest responsibly for future growth, while improving operating profit margins again year on year.’ ProCook says it is confident in delivering market expectations for the new year. ‘Our new store openings, initiatives to increase brand awareness, and disciplined investments to support growth, mean we are well on track to deliver on our medium term ambition of 100 stores, £100 million revenue and 10% operating profit margin. We look forward to building on our recent progress and continuing to increase market share as we drive profitable and cash generative growth,’ it adds.
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Coppa Collective PLC - London-based operator of restaurant, clubhouse and hotel sites, formerly Various Eateries PLC - Reports a rise in half-year revenue and a narrowed loss. In the 26 weeks to March 29, pretax loss narrows to £1.7 million from £2.2 million. Revenue rises 1.5% to £25.0 million from £24.7 million. In the Coppa Club brand, like-for-like sales rise 3.2%, beating the market. ‘The pressures facing the wider hospitality sector are well-publicised, so for our like-for-like growth to outpace the benchmark is a meaningful achievement. We turned that growth into improved profitability, thanks to our incredible people and the hard work that has gone on behind the scenes over recent periods to build a leaner, more resilient platform,’ Chief Executive Officer Mark Loughborough says. ‘Looking ahead to the important summer months, our focus is on execution: getting the best out of every venue through the season, looking after our guests and teams, and maintaining the cost discipline that has underpinned our progress. Each period leaves us better placed than the last, and I’m confident in the direction we’re heading.’
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Seed Innovations Ltd - investing company focused on life sciences and technology - Net asset value per share at March 31 financial year end shrinks to 5.9 pence per share from 6.1p 12 months earlier. During the period, it ‘repositioned strategy towards high-growth robotics and AI ventures’. Investments under the new strategy include $1.0 million injected into AI and industrial robotics company Feather Robotics and £300,000 in UK-based Fieldwork Robotics, a firm developing an autonomous raspberry harvesting robot. It adds: ‘The board believes the opportunity ahead remains substantial. Robotics is no longer confined to traditional industrial automation; it is increasingly becoming an enabling layer across a wide range of end markets. In agriculture, robotics has the potential to address labour intensity and improve yield management. In logistics and warehousing, autonomous and semi-autonomous systems can enhance throughput, flexibility and fulfilment efficiency. In manufacturing, robotics continues to support quality, repeatability and cost control, while newer applications in inspection, maintenance, defence, healthcare and infrastructure point to a broader addressable market over time.’
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Residential Secure Income PLC - in managed wind-down of retirement and shared ownership real estate portfolios - Net asset value per share at March 31 half-year end shrinks to 71.0 pence from 72.5p at the end of September. Net rental income is steady on-year at £9.4 million in the six months to the end of March, and it swings to a £1.1 million pretax profit from a £6.4 million loss.
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Built Cybernetics PLC - London-based company, focused on smart buildings - Pretax loss in six months to March 31 widens to £551,000 from £63,000, with revenue declining 4.3% to £9.9 million from £10.3 million. ‘We continue to focus on creating a smart buildings group with a growing proportion of predictable, scalable and high-margin recurring revenues, supported by complementary professional services and architecture capabilities,’ Chief Executive Nick Clark says.
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Velocity Composites PLC - Burnley, England-based supplier of composite material kits to aerospace and other high-performance manufacturers - Pretax loss in the six months to April 30 widens to £1.0 million from £574,000, with revenue shrinking 19% to £8.4 million from £10.4 million a year prior. Velocity says: ‘Operationally, we have made good progress. The previously announced additional work awarded on the A350 programme with one of our UK customers is now in sustained production. The transfer and first article inspection process at our first US customer has started on the key remaining programme and is expected to continue through H2 2026. Though the delays to the transfer of the final work programme have been frustrating, the rates on this programme are now expected to be significantly higher than previously projected as end-customer production targets have increased. In addition, further work packages outside the original contract scope, including design, manufacture and kitting of process materials, are being transferred and are contributing to revenues.’ It expects a full year sales revenue performance in line with previous guidance.
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Haydale PLC - Carmarthenshire, Wales-based company focuses on graphene and other nanomaterials - Pretax loss in six months to March 31 widens to £2.6 million from £892,000, though revenue surges to £2.3 million from £399,000. Adjusted administrative expenses double to £2.0 million from £1.0 million. ‘The first half of FY26 marks an important transition point for Haydale, as the group moved from restructuring into execution,’ Chief Executive Officer Simon Turek says. ‘Over the past eighteen months we have fundamentally repositioned the Group. We have simplified the business, exited non-core activities, acquired SMCC and built a platform focused on improving the energy, water and carbon performance of buildings.’
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United Oil & Gas PLC - oil and gas company with exploration asset in Jamaica - Pretax loss in 2025 narrows to $1.4 million from $1.9 million in 2024, with no revenue generated either year. ‘2025 was a landmark year for United. We set out to build the foundations necessary to advance the Walton-Morant Licence and delivered on every objective: the licence extended to January 2028, regulatory approvals secured, the SGE programme fully contracted and funded, and the survey vessel mobilised in January 2026. Every stage of the programme was executed safely and without incident. In a year that required discipline, focus and operational rigour, United demonstrated it can deliver and to a standard that matters in this industry,’ CEO Brian Larkin says.
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Fulcrum Metals PLC - mineral explorer in Canada - Pretax loss in 2025 narrows to £553,499 from £1.2 million a year prior, as administrative expenses declined to £888,363 from £1.1 million. It reports no revenue in either year but books £606,730 in other operating Income in 2025, against none in 2024. ‘2025 has been a transformational year for Fulcrum as we transitioned from concept validation to disciplined project advancement and positioned the company firmly on the pathway toward pilot-scale implementation,’ Chief Executive Officer Ryan Mee comments.
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Beximco Pharmaceuticals PLC - Dhaka, Bangladesh-based producer of pharmaceutical ingredients - Beximco announces results for the year to June 30, 2025, as well as numbers for periods thereafter. ‘Today’s publication of preliminary results for the full year ended 30 June 2025 reflects necessary disclosures as required in Bangladesh. The company expects to publish its full accounts later this week. Once the full accounts have been published, the company will seek to resume trading on AIM,’ Beximco says. Net profit in year ended June 30, 2025 rises to BDT7.00 billion, £43.2 million, from BDT5.87 billion. In the following financial year, first quarter net revenue rises 18% to BDT13.79 billion, with pretax profit up 42% to BDT3.12 billion. In the second quarter, revenue is up 14% to BDT14.01 billion and pretax profit spikes 30% to BDT3.13 billion. For the whole of the half year to December 31, it achieves pretax profit growth of 36% to BDT6.24 billion, with revenue up 16% to BDT27.80 billion. For the third quarter to March 31, pretax profit rises 29% to BDT2.91 billion, with revenue up 8.1% to BDT13.63 billion, showing growth has eased.
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