EARNINGS: M&C Saatchi highlights improving trend in second quarter
The following is a round-up of earnings for London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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M&C Saatchi PLC - London-based advertising agency - Swings to pretax loss of £161,000 in the first six months of 2026 from £4.3 million profit a year prior. Total revenue is £163.8 million, up from £151.8 million on-year, while billings grow to £200.8 million from £170.9 million. Stripping out project and direct costs, net revenue is down 2.7% to £87.8 million from £90.2 million, or 1.4% like-for-like. Diluted loss per share is 0.42 pence versus earnings of 2.52p a year ago. Executive Chair Heather Rabbatts says trading has progressively improved since the first quarter, with the second quarter returning to modest top-line growth. "Notwithstanding market conditions, we are confident in delivering LFL net revenue and operating profit growth for the full year 2026, in line with market expectations," she adds. M&C Saatchi is targeting net revenue growth in 2026, driven by positive momentum in the Issues and Media specialisms, supported by regional advertising growth in the US, UK and Europe. It is aiming for full year operating profit growth and operating margin improvement largely driven by growth in the high-margin non-advertising specialisms. It expects the working capital position at the half year to unwind in the second half.
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Transense Technologies PLC - Bicester, England-based sensor technology developer - Swings to full-year pretax loss of £105,000 in the financial year ended June 30 from £1.4 million profit the year prior, as revenue drops 19% to £4.2 million from £5.2 million. Basic loss per share is 0.69p versus earnings of 9.25p. SAWsense revenue rises 20%, Translogik revenue declines 4.5%, while Bridgestone iTrack royalty income is down 34%. Executive Chair Nigel Rogers says: "These results reflect a challenging year for the business. We have met these challenges with determination, striving to continue building sustainable recurring revenue streams. The board believes that future success is increasingly underpinned by effective market sector positioning and engagement with leading global companies in both businesses." Transense adds: "The ambitious rate of revenue growth expected at the beginning of the year for both operating businesses were not achieved." The company does not declare a dividend, saying such a payment would be "premature". For financial 2027, it sets an "ambitious" growth target for revenue of more than 25% year on year. Trading for the first two months of the financial year is in line with management expectations which "are, as in the previous year, more stretching as the year progresses". Transense believes that the company is well placed to absorb the effect of the next royalty rate reduction in FY28.
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Henry Boot PLC - Sheffield, England-based construction and property development firm - Swings to pretax loss of £6.3 million in the six months ended June 30 from £9.8 million profit a year prior, as revenue falls 19% to £80.7 million from £99.4 million. Diluted losses per share are 2.1 pence versus EPS of 4.6p. Loss reflects "challenging market conditions and reduced transaction volumes across the group's core markets", Henry Boot says. It agrees terms to increase its bank facility to £165.0 million until the end of 2026, says lenders remain supportive and talks continue regarding amending full-year covenants. Henry Boot expects an improvement in trading over the second half, supported by visibility over higher home completions, further lettings and the completion of land sales delayed from the first half. While transaction volumes are anticipated to remain subdued for the remainder of the year, it anticipates delivering pretax profit in line with consensus for 2026 of £9.7 million. "With the new CEO's review ongoing, we are not reaffirming our medium-term guidance at this stage," it adds. Henry Boot says it remains focused on cash generation and disciplined cost control and will not prioritise short-term performance at the expense of future returns.
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Luceco PLC - London-based lighting manufacturer and distributor - Boosts dividend as half-year profit and sales increase. Pretax profit rises 17% to £9.1 million in the six months ended June 30 from £7.8 million a year prior, as revenue climbs 13% to £142.6 million from £125.7 million. Basic EPS grows 4.5% to 4.6 pence from 4.4p, and the interim dividend is lifted 17% to 2.1p per share from 1.8p. Says revenue growth accelerates through the half and is supported by both Energy Transition and core product categories. Continues to experience strong demand across key product categories, channels and territories and notes demand flexibility is delivering a recurring revenue stream. As a result, Luceco now expects adjusted operating profit for 2026 to be ahead of market expectations of £40.9 million. "We are seeing growth from both our core, heritage business and the fast-paced Energy Transition activity," says Chief Executive Thorsten Muller.
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Midwich Group PLC - Norfolk, England-based audiovisual technology company - Achieves pretax profit of £4.3 million in the first half of 2026, swinging from a loss of £3.0 million a year prior, as revenue increases 3.2% to £640.3 million from £620.3 million. Sales increase reflects strong organic growth in the UK, Iberia, and US which more than offset declines in the Middle East, Germany, and Canada. The business in the Middle East continues to trade profitably despite the disruptions, albeit on significantly lower volumes, Midwich says. "The group has made a solid start to the second half. Despite a mixed market backdrop and the volatility of the Middle East situation, with both growth opportunities and challenges, the group is trading in line with the board's profit expectations for the full year," Midwich says. Earnings per share is 3.46 pence versus a 2.42p loss. Raises interim dividend by 8.6% to 1.90p per share from 1.75p. Reports a solid start to the second half of 2026, and despite a "mixed market backdrop and the volatility of the Middle East situation", is trading in line with the board’s profit expectations for the full year. Says it continues to monitor and evaluate prospective acquisitions and has become more active in pursuing relatively small potential deals.
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Yu Group PLC - Nottingham, England-based gas and electricity supplier and smart meter installer - Posts pretax profit of £21.7 million in the six months ended June 30, down 4.0% from £22.6 million a year prior. In contrast, revenue grows 19% to £405.4 million from £341.0 million with 25% growth in volume offset by lower market prices in 2025 which impacts 2026 revenue. Diluted EPS rises to 92p from 90p or to 103p from 96p on an adjusted basis. The interim dividend is hiked 9.1% to 24p per share from 22p. Yu says it delivered a 43% increase in meter points versus the prior year to close at 153,000. Average monthly bookings grow 24% to £51 million from £41 million a year ago, with uncertainty due to the war in the Middle East offset by increased market price and significant contract wins. Yu says it is on target to deliver revenue, adjusted Ebitda and adjusted diluted EPS metrics for FY26 in-line with current market expectations, despite a backdrop of market uncertainty. "The group remains firmly on track," says Chief Executive Bobby Kalar. "We remain fully focused on delivering our three-year business plan and have increasing confidence in the strength, resilience and long-term potential of the business," he says.
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