EARNINGS: M Winkworth revenue rises, expects full-year profit beat
The following is a round-up of earnings by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Artisanal Spirits Co PLC - Edinburgh, Scotland-based whisky distiller - Reports revenue of £9.2 million for the first half of 2026, down 4.9% from £9.7 million the year before. Pretax loss is flat year-on-year at £3.6 million. Loss before interest, tax, depreciation and amortisation narrows to £1.4 million from £1.5 million. Gross profit falls 15% to £4.9 million from £5.7 million. Artisanal Spirits says improved results from branded products were offset by falling cask or non-branded sales. Branded revenue increases 6.9% to £7.9 million from £7.4 million, and gross profit rises 13% to £4.3 million from £3.8 million. Non-branded revenue falls 43% to £1.3 million from £2.3 million, with gross profit falling 69% to £593,000 from £1.9 million. Artisanal Spirits expects full-year results to be in line with market guidance, citing consensus including revenue of £24.0 million and Ebitda of £1.7 million, up from £19.9 million and a £2.4 million loss, respectively. However, this assumes that "trade cask transactions complete as anticipated and Branded business trading continues to perform in line with expectations".
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M Winkworth PLC - London-based real estate agency franchisor - Revenue for the first half of 2026 totals £4.7 million, down 9.6% from £5.2 million the year before. Pretax profit falls 5.2% to £782,000 from £825,000. Gross revenue from the company's franchised network decreases to £31.6 million from £32.0 million. Network sales revenue decreases to £16.1 million from £16.9 million, while lettings & management revenue increases to £15.5 million from £15.1 million. M Winkworth declares 6.6p per share interim dividend, unchanged from the previous year. Also says it incurred £105,000 in legal & advisory costs during the period, followed by another £376,000 between July 1 and Wednesday. "The year started briskly, with mortgage costs declining and the anticipation of further interest rate cuts driving demand," says Chief Executive Dominic Agace. "Once again, however, geopolitical developments and consequent inflationary fears dampened enthusiasm in the sales market." Looking ahead, he says the firm's underlying trading performance remains resilient, and that it expects full-year underlying profit before exceptional costs to be slightly ahead of market expectations. Company expects to incur further legal costs, "although the total amount remains uncertain and will depend on how matters progress." M Winkworth commenced legal proceedings in August against Non-Executive Chair Simon Agace, over an alleged scheme by him and his spouse, Irene Ho Kim Lee, to remove the current board. Later that month, the chair agreed to restrictions on changing the company's board. Court proceedings remain ongoing.
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Cambridge Cognition Holdings PLC - Cambridge, England-based brain health software provider - Revenue for the first half of 2026 increases 16% to £5.0 million, as expected, from £4.3 million the year before. New sales orders fall 13% to £6.0 million from £6.9 million, reflecting the timing of a £1.0 million order executed three days after the half-year's end. Pretax loss narrows to £697,000 from £1.0 million. Adjusted Ebitda loss narrows to £301,000 from £420,000. Order book totals £16.1 million as of June 30, down from £16.4 million one year prior. Cambridge Cognition expects revenue of at least £10.0 million for 2026, based on year-to-date contracted orders, with "significant growth" on an annual basis. Company said in July it was confident in meeting market expectations of £11.4 million in revenue and a £1.3 million adjusted pretax loss. CEO Rob Baker says: "We continue to strengthen our core business, and are making strategic moves that reflect our broader ambition...We have kicked off the investment programmes that will expand our addressable market. Early signs are encouraging, and these programmes are progressing on time and on budget. With a reinforcing ecosystem across our markets and a path to growth, we look forward to the future development of Cambridge Cognition with confidence."
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CT Automotive Group PLC - Portsmouth, England-based maker of interior components for the automotive industry - Pretax profit for the first half of 2026 falls 55% to USD1.6 million from USD3.4 million the year before. Adjusted pretax profit, accounting for non-recurring and non-underlying items, falls 57% to USD1.6 million from USD3.8 million. Revenue, however, rises 14% to USD61.7 million from USD54.1 million, "driven by strong customer demand and the successful launch of new programmes at the group's Mexico facility." CT Automotive says administrative expenses increase 17% to USD12.5 million from USD10.7 million, and that the period includes a USD313,000 write-off of VAT claim balances relating to 2022, and "an underlying increase of USD1.5 million, reflecting the higher cost base in Mexico required to support the increase in revenue." Looking ahead, the firm expects full-year revenue to be "broadly unchanged" against 2025, but adds: "The outcome of discussions with one of our key customers could have a material impact on our financial results for FY26." Says it now expects between USD4.9 million and USD9.4 million in adjusted pretax profit for the year. This would be down from USD9.5 million in 2025.
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Finseta PLC - London-based foreign exchange and payments solutions company - Reports revenue of £5.4 million for the first half of 2026, as expected, and down 8.5% from £5.9 million the year before. Active customers increase to 1,389 from 1,101. "While our trading performance for the first half of the year was impacted by the challenging macroeconomic environment across our key markets, our core operational foundation remained strong," says CEO James Hickman. Pretax loss widens to £1.6 million from £258,639. Administrative expenses increase to £5.1 million from £3.9 million. Gross margin improves to 66.1% from 62.7%, "primarily due to the proportion of corporate customers within the sales mix increasing to 75% [from 58%]." Adjusted Ebitda swings to a £1.0 million loss, against a £286,171 profit. Company expects second-half revenue "to be broadly at the same level as H1," but anticipates an improved gross margin on an annual basis. Says it "remains confident in the group's ability to deliver growth and value for shareholders in the medium term."
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