TRADING UPDATES: Pebble Group earnings up; RC Fornax in Thales deal
The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Pebble Group PLC - Manchester, England-based company which provides products and services to the global promotional products industry - Pebble Group expects to report a "positive trading performance" for the first half of 2026. Revenue and adjusted earnings before interest, tax, depreciation and amortisation are to be ahead of the prior year. "Overall, trading is in line with management expectations," Pebble adds. In the first half of 2025, revenue amounted to £58.6 million and adjusted Ebitda £6.2 million. Pebble releases half-year results on September 8.
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RC Fornax PLC - provider of engineering solutions to the UK defence industry - It has been selected by the UK arm of Thales SA to join a "highly selective" supplier framework. It relates to sonar and naval architecture and the deal covers a period of three years, plus an option for a two-year extension. "Thales has historically represented approximately 30% of the company's revenue, however, activity was scaled back recently while RC Fornax focused on initiatives to enhance and elevate this relationship. Discussions have now advanced materially, with RC Fornax's inclusion on the niche supplier framework, providing a clear pathway to renewed and expanded engagement," RC Fornax says. "The board considers this opportunity to be strategically significant, underlining RC Fornax's capability in highly specialised naval engineering and strengthening the company's position as a long-term partner of choice to Tier-1 defence contractors."
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Renewables Infrastructure Group Ltd - renewable energy investment company - Renewables Infrastructure Group as struck a deal to sell its 17.5% stake in the Beatrice offshore wind farm for £155 million. In June, it said pre-emption right to acquire the investment had been exercised by funds managed by Equitix Investment Management Ltd, which is an existing co-shareholder. "Completion is expected to occur before the end of the year subject to the timing of securing third-party consents. The sale of Beatrice represents good progress towards the company's 12-month £400 million capital realisation target," Renewables Infrastructure says.
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Amcomri Group PLC - London-based specialist engineering services and industrial manufacturing firm - Amcomri seals the buy of North West Transport Supplies Ltd. Leyland, Lancashire-based NTS is focused on repair of electro-mechanical units, HVAC and pneumatic control equipment on rail rolling stock fleets. Amcomri pays an initial £3 million, with a deferred payment consideration of up £1 million. NTS generated pretax profit of around £1.1 million in the year to March 31, on revenue of £3.2 million. "NTS is an excellent addition to our growing group of specialist repair and overhaul businesses, and several synergistic and organic growth opportunities have already been identified by the Amcomri team," Chief Operating Officer Mark O'Neill says.
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Jarvis Securities PLC - Kent, England-based provider of stock broking services - Subsidiary Jarvis Investment Management Ltd receives the first deferred consideration payment worth £1 million connected to the sale of its retail execution only brokerage business last year to Interactive Investor Services Ltd. It was sold for an initial £9 million, with possible deferred considerations taking it up to £11 million. "The second and final deferred consideration payment, also of £1 million (subject to potential adjustment for claims under the sale agreement) is due on or around 7 January 2027," Jarvis says.
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GSTechnologies Ltd - Perth, Australia-based fintech company - It enters a deal with Wide Ascent Ltd to invest in Sodales AI Pte Ltd. Sodales is a Singapore-based artificial intelligence company developing an enterprise-scale agentic AI operating system. GSTechnologies is investing USD1.0 million in Sodales, for a 10% stake. Wide Ascent is to "contribute its underlying Agentic AI technology platform" and intellectual property under assignment or exclusive licence to Sodales, GST adds. "Under the investment agreement, Sodales AI will assist with the design, development and deployment of an agentic AI neobanking platform for GST and its subsidiary, Angra. The platform is intended to integrate autonomous AI agents with the group's payment infrastructure, blockchain technology, stable token ecosystem and intelligent compliance processes, supporting the continued evolution of GST's digital financial services platform," GST says.
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Kendrick Resources PLC - Scandinavia-focused mineral exploration and development company - Discovers high-grade rare earth element mineralisation at the Teufelskuppe asset. It supports the project's "potential as a significant rare earth development project", Kendrick adds. "The newly identified breccia comprises an estimated 40% by volume of high-grade [light rare earth oxides] dominant carbonatite, sourced from adjacent mineralised carbonatite bodies. This discovery has the potential to materially enhance the company's resource growth profile," Kendrick says. Carbonatite and breccia are types of rocks.
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First Tin PLC - tin mine developer targeting Germany and Australia - Subsidiary Taronga Mines Pty Ltd identifies potential for rare earth elements and technology metals in the Taronga tenement. Sampling has returned "very high REE and technology metal assays", First Tin adds. "The results demonstrate the presence of a broad suite of rare earth elements, including the more valuable heavy rare earths such as dysprosium, lutetium, neodymium, praseodymium, terbium and thulium. In addition, several valuable technology metals, including beryllium, caesium, hafnium and rubidium were identified in the same samples," it says.
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East Star Resources PLC - Kazakhstan-focused copper and gold explorer - A drilling programme of around 5,000 metres has begun at the Verkhuba copper deposit. "The drilling programme is intended to support resource conversion, geological modelling, mine planning and feasibility study activities, with particular focus on the first 3 to 5 years of mining operations," East Star says. Drilling is to take three months and East Star says an updated resource estimate is to follow.
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ECR Minerals PLC - Australia-focused gold exploration and development company - ECR says laboratory gold assay results find a "compelling new drill-ready gold target" at the Lolworth project in North Queensland. "The gold anomaly was not detected during earlier portable X-Ray Fluorescence analysis, demonstrating the necessity of laboratory gold analysis as an additional exploration technique to identify gold mineralisation that may not be recognised through conventional pathfinder analysis techniques alone," ECR adds.
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Xtract Resources PLC - Australia and Zambia-focused miner - It announces the start of production at its Silverking copper-silver project in Zambia, where its joint venture partner has begun processing ore through the flotation plant. The company says the plant has been upgraded to target throughput of 28 tonnes per hour, while reagent optimisation is under way to stabilise copper concentrate grades. Xtract also highlights drilling that confirmed a high-grade copper core remains open at depth, supporting plans for further drilling and evaluation of underground mine development. "Production is now being progressively ramped up and, while concentrate grades remain variable as the balance between oxide and sulphide material evolves, the plant's demonstrated ability to recover oxides is encouraging," Executive Chair Colin Bird says.
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