TRADING UPDATES: Intercede optimistic for year as interim revenue up
The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Intercede Group PLC - Leicestershire, England-based cybersecurity software firm - Expects to report approximately £10.9 million in revenue for the six months ended September 30, up 32% from £8.2 million the year before. This would represent 35% growth on a constant currency basis. Includes Support & Maintenance recurring revenue of approximately £5.6 million, up from £5.4 million; Perpetual licence revenue of approximately £2.7 million, up from £1.1 million; and Professional services, repeatable revenue, and development income of approximately £2.0 million, up from £1.4 million. Intercede remains debt-free with a gross cash balance of approximately £23.4 million at the year-end, up from £17.8 million one year prior. Says it has made a good start to the second half, and continues to expect that its full-year financial performance will be in line with current market expectations. Cites market consensus figures of £21 million in revenue, and £5.0 million in adjusted earnings before interest, tax, depreciation and amortisation. Intercede also says that since August 3, it has received further contract orders and renewals totalling approximately £3.0 million. Says these comprise subscription and perpetual licences, Support & Maintenance renewals, professional services and development activity across its core government, defence, aerospace and enterprise markets. Has also received an authority to proceed notice for development work, initially worth £520,000, on "a large deployment in a US Federal agency," and expects a formal purchase order in its third quarter.
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Panthera Resources PLC - London-based gold explorer and mine developer in West Africa and India - Announces positive results from reverse circulation drilling at the Bido Project in Burkina Faso. Says significant gold intersections were returned at the Kwademen Prospect. These include 56 metres at 1.16 grams of gold per tonne from 76 metres, including 28 metres at 2.04 g/t from 88 metres; and 40 metres at 0.59 g/t from 10 metres, including 18 metres at 1.02 g/t from 14 metres. Estimates an exploration target at Kwademen of between 0.7 and 1.6 million ounces of gold, although it notes that the potential quantity and grade "is conceptual in nature," as exploration completed so far is "insufficient... to estimate a mineral resource". But Managing Director Mark Bolton says it "frames the scale of what we are dealing with at Kwademen," adding: "Our focus now turns to infill drilling on the higher-grade core of the western zone, with the objective of converting a first portion of that target into a MRE...Potential broad zones defined by soil and geophysical anomalies, so far untested by drilling, may represent sub-surface gold mineralisation that could become future additions to the exploration targets already defined."
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Cobra Resources PLC - South Australian mineral exploration and development company - Updates on the slim-line RC drilling programme at the Manna Hill Copper Project. Says the first 23 holes have led to the intersection of broad copper anomalism approximately 600 metres west of previously known mineralisation at the Blue Rose skarn system, extending the copper-bearing corridor from about 1.6 kilometres to over 2.2 kilometres in strike. Also reports new skarn discoveries at Shadow Rose and Neptune Rose, with Shadow showing intervals of up to 60 metres of continuous copper anomalism in each of two holes, and Neptune showing copper anomalism within the calc-silicate unit on the interpreted northern limb. The programme is ongoing, with up to 58 holes planned. "The objective of this campaign is to establish a shallow mineralised footprint of the size required to support a substantial resource, and the early indications are consistent with that," says Managing Director Rupert Verco. "The actual grades will be confirmed by assays which should start coming through in 4-6 weeks."
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Bluebird Mining Ventures Ltd - gold streaming, mining and treasury company based in the British Virgin Islands - Agrees to the cancellation of a further 19.5 million warrants, exercisable at 0.23 pence per share. This follows its announcement in early April, when Bluebird agreed the cancellation of 100.5 million warrants, also exercisable at 0.23p, and announced plans to seek the cancellation of the remaining warrants within this historic warrant class. Says 108.3 million warrants with the same exercise price will remain outstanding, and that these are currently subject to review. The remaining warrants represent approximately 3.37% of Bluebird's issued share capital, down from approximately 11.34% immediately before the cancellations started. The cancellations are part of Bluebird's "ongoing programme to simplify its capital structure and reduce historic warrant overhang."
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Safestay PLC - London-based hostel operator - Completes the sale of its leasehold interest in, and the hostel business operated from, Safestay London Kensington Holland Park to Acerhawk Ltd for £3.0 million in cash. It no longer operates the hostel and the property no longer trades under the Safestay brand. Safestay says the disposal is consistent with its previously announced strategy to crystallise value from certain UK freehold assets and support "asset-light growth". Intends to use the net proceeds for debt repayments, working capital purposes, and to strengthen its balance sheet, which it says will "[support] the delivery of its long-term strategic growth ambitions."
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Ethtry PLC - London-based company building an ethereum treasury for investments in "breakthrough technologies" - Completes its acquisitions of Dunbar Energy Ltd and Dunbar Energy Inc, enabling the 'bonus shares' due to existing Ethtry shareholders, and the 'consideration shares' due to Dunbar Energy shareholders. Executive Chair Mike Murphy says the completion is "a transformational milestone for Ethtry and the beginning of an exciting new chapter for the company," adding: "The acquisition establishes the foundation for our US-focused data centre and energy development platform and provides us with a strong base from which to pursue significant opportunities in these rapidly growing sectors. We are excited about the potential ahead and look forward to working closely with the Dunbar team...Ethtry is now well positioned for an exciting period of growth, and we look forward to updating shareholders as we move forward." Ethtry announced its agreement on the USD15 million all-share combination with Dunbar in August. Murphy remains chair of the enlarged firm, with Ethtry retaining control of the board.
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