TRADING & EARNINGS: Hardide expects profit to surge as revenue doubles
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:
----------
Hardide PLC - Bicester, England-based engineering and chemicals company - Expects pretax profit for the year ended September 30 to rise to £4.9 million from £200,000 a year earlier, beating market expectations of £4.6 million. Revenue more than doubles to £13.5 million from £6.0 million. Hardide says trading momentum remains strong, with fourth-quarter revenue of £4.6 million. Earnings before interest, tax, depreciation and amortisation are expected to increase to £5.8 million from £1.0 million, ahead of market expectations of £5.5 million. The company says it is well positioned for further significant growth in financial 2027.
----------
Virgin Wines UK PLC - Norwich-based alcoholic beverage distributor - Says pretax loss for the year ended July 3 was £1.5 million, swinging from £1.6 million profit the previous year. Revenue rises 3.4% to £61.0 million from £59.0 million, outperforming the wider online drinks market, which declined during the period. Operating expenses grow 12% to £17.4 million from £15.5 million. Encouraged by its momentum, Virgin Wines says: "Despite inflationary pressures, rising duties, new regulatory costs and the continuation of a challenging consumer environment the company is executing on its growth strategy and delivering solid year-on-year growth and vastly outperforming the market."
----------
Titon Holdings PLC - Colchester-based ventilation systems and window and door hardware supplier - Reports an 8.1% increase in revenue to £17.1 million for the year ended September 30, from £15.8 million. Revenue from its Mechanical Ventilation Systems division rises 18% to £10.1 million, more than offsetting a 4.2% decline in Window and Door Hardware revenue to £7.0 million. Looking ahead, Titon expects gross margins to improve in financial 2027, "supported by increased sales of higher-margin products, lower costs from re-engineered products and improved manufacturing utilisation."
----------
Gelion PLC - Norwich-based energy and clean-tech company - Reports a pretax loss of £6.5 million for the year ended June 30, widening 7.8% from £6.0 million a year earlier. Total income falls to £2.5 million from £2.7 million, while revenue from contracts with customers drops to £49,000 from £912,000. Research and development expenses rise 5.8% to £3.8 million from £3.6 million, while business overheads increase 20% to £3.0 million from £2.5 million. Chief Executive Officer Matt Wood calls 2026 "an important transition year", as the company advances its sulphur battery technology and grows commercial validation of its Nano-Encapsulated Sulphur cathode platform. Gelion expects commercial progression in financial 2027.
----------
Bradda Head Lithium Ltd - North America-focused lithium exploration and development company - Reports a pretax loss of USD1.2 million for the six-month period ended August 31, widening 63% from USD727,268 a year earlier. Bradda Head remains pre-revenue. Administrative expenses rise 45% to USD1.1 million from USD761,153. Bradda Head says lithium prices recovered during the first half but expects prices to remain volatile in the near term. Looking ahead, Bradda Head says its focus is to complete the Whistlejacket drilling programme, with a maiden resource estimate targeted by the end of 2027.
----------
Andrada Mining PLC - Namibia-focused mining and exploration company - Says pretax profit for the half year period ended August 31 was £2.6 million, swinging from a £2.8 million loss the previous year. Revenue was £20.6 million, rising 80% from £11.4 million. Andrada Mining says average realised tin price was USD52,131 per tonne, up 57% from USD33,154/t. Says performance achieved "due to the fully funded plant upgrades including the installation of the ore-sorting circuit at Uis that is progressing on schedule." Looking ahead the company says it enters "the second half of the financial year from a considerably stronger position with a critical minerals platform of three assets or value creators."
----------
Rainbow Rare Earths Ltd - Developer of the Phalaborwa rare earths project in South Africa and the Uberaba project in Brazil - Reports a loss of USD7.5 million for the year ended June 30, widening from USD3.2 million a year earlier. Rainbow reports no revenue, unchanged year-on-year, while administrative expenses remain stable at USD3.8 million. During the period, Rainbow incurs a fair value loss of USD3.0 million following the revaluation of the Ecora royalty liability, compared with a fair value gain of USD1.2 million a year earlier. Rainbow says 2026 was a "demanding" but "productive" year, with China's export controls exposing the fragility of global supply chains.
----------
Mila Resources PLC - Western Australia-focused mineral exploration company - Reports a pretax loss of £6.6 million for the year ended June 30, 2026, widening from £800,435 a year earlier. Mila Resources remains pre-revenue. The wider full-year loss is largely attributable to a £5.4 million impairment of the Kathleen Valley exploration asset. Mila Resources says an initial mineral resource estimate at Yarrol is targeted by the end of 2026. The company says it has a clear route to building gold resources at Yarrol and is advancing its Monal copper-gold project in Queensland. Looking ahead, Mila says: "the forthcoming financial year will materially build value through our delivery of the MRE at Yarrol and a clear roadmap to grow the resource inventory whilst also demonstrating the exploration potential across the wider licences. We are witnessing a renewed level of interest in gold and copper exploration in Queensland with many other companies in the region highly active having raised substantial capital."
----------
Copyright 2026 Alliance News Ltd. All Rights Reserved.