|
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: ---------- Mirriad Advertising PLC - London-based provider of virtual product placement - Says it may have to enter liquidation or administration. 2026 ‘has proven to be an exceptionally challenging year,’ it says, as cautious optimism has not been realised. ‘Trading conditions deteriorated significantly following a rapid escalation in geopolitical tensions during a critical period for the business, most notably the conflict in Iran impacting the key Middle Eastern market,’ Mirriad adds. At the end of March, it said it had cash equivalents of around £675,000 and would need to secure more funding before the publication of its 2025 annual report. So far, no binding funding has been secured. The firm says it may have to enter a liquidation or administration process in the near term to effect an orderly wind-down. ---------- Metals Exploration PLC - Philippines-focused mineral resources firm - Reports lower production and revenue in the first quarter of 2026, but continues to generate strong cash flow and progress development at its La India project. The company posts pretax free cash flow of $29.4 million, down from $40.0 million in the prior quarter, while gold revenue falls to $52.9 million from $63.9 million. Gold sales decline to 10,821 ounces from 16,009 ounces, although the average realised gold price rises to $4,885 per ounce from $3,995. Cash at the end of March stands at $36.5 million. At its Runruno mine in the Philippines, gold production drops to 10,505 ounces from 15,156 ounces, with all-in sustaining costs increasing to $2,067 per ounce from $1,584, reflecting lower production as the mine approaches end of life. Gold recovery weakens to 77.1% from 84.1%. Metals Exploration cuts full-year 2026 production guidance to 40,000 to 48,000 ounces and forecasts AISC of $1,700 to $2,000 per ounce, citing processing disruptions, lower grades and the impact of historical illegal mining. The BIOX circuit has since returned to normal operations. In Nicaragua, construction of the La India project is 40% complete and ahead of schedule, with first gold targeted for December 2026 and a 25-year mining concession secured. Exploration drilling continues to highlight high-grade mineralisation and potential resource upside. ---------- Resolute Mining Ltd - Perth, Australia-based and Africa-focused gold miner - Sees lower quarterly gold production but strong cash flow and earnings growth in the first quarter of 2026. The company produces 59,603 ounces of gold, down from 65,918 ounces in the prior quarter, with all-in sustaining costs rising to $2,210 per ounce from $1,877. Revenue jumps to $337.6 million from $201.5 million, while Ebitda more than doubles to $202.9 million from $104.9 million, supported by higher gold prices. Operating cash flow increases to $119.8 million from $85.7 million, lifting net cash to $315.4 million from $209.0 million. Capital expenditure totals $33.4 million, with the company on track to meet full-year guidance. Resolute says it achieves key milestones at its Doropo project in Cote d’Ivoire, including a mining permit and final investment decision, and reports a 60% increase in mineral resources and a 55% rise in ore reserves. It maintains production guidance of 250,000 to 275,000 ounces for 2026, while noting potential cost pressures from higher fuel prices. ---------- XP Power Ltd - Singapore-based maker of power control systems - Reports strong order growth in the first quarter, while revenue declines slightly year-on-year and full-year guidance remains unchanged. Order intake rises 38% to £79.1 million from £57.4 million, up 48% at constant currency, with strength across all sectors and regions, particularly in semiconductor manufacturing equipment. Revenue falls 4% to £51.8 million from £53.8 million, though rises 3% at constant currency, reflecting seasonal factors, export licence impacts in China and a temporary slowdown from production transfer to Vietnam. The company reports a book-to-bill ratio of 1.53x and an order book of £143.1 million at quarter-end. Net debt stands at £41.8 million, broadly in line with year-end, with leverage ratio at 1.2x. XP Power says improved order intake enhances visibility for 2026 and expects revenue to increase in the second quarter, while reiterating full-year expectations with a second-half weighting. ---------- Diales Group PLC - London-based consultancy for the construction and engineering industries - Expects first half revenue from continuing operations to rise 9.7% to £23.7 million from £21.6 million. The company expects to deliver a 43% rise in underlying operating profit from continuing operations to around £1.0 million in the six months to March from £700,000 a year earlier. Diales forecasts financial 2026 results ‘at least’ in line with market expectations. ‘With continued investment in technology and a strengthening cash position, we believe the group is well placed to continue its momentum, supporting clients through complex global challenges and delivering further value to our shareholders,’ says Chief Executive Officer Mark Wheeler. ---------- Chill Brands Group PLC - London-based distributor of fast-moving consumer products such as tobacco alternatives and functional beverages for sale via convenience stores - Reports operational progress across its distribution business and ongoing strategic discussions around its digital platform. The company says its Chill Connect distribution arm continues to expand in the UK convenience retail market, widening its product range to include beverages, confectionery and batteries alongside vaping products. It adds that it is in discussions with consumer staple brands to further broaden distribution. Chill Brands also completes development of a wholesale ordering platform for retail partners, which is expected to go live shortly, aiming to streamline ordering, reduce cash handling and expand reach through a digital channel. Separately, the group continues to review options for its chill.com digital platform, including potential monetisation and partnership opportunities. It says it has been approached by digital platform operators about a possible collaboration to build a broader portfolio of marketplace, social, and financing platforms, though discussions remain at an early stage and there is no certainty of a deal. ---------- Journeo PLC - Leicestershire-based transport system services provider - Subsidiary secures new infrastructure protection contracts worth £1.0 million. The intelligent transport systems provider says Crime & Fire Defence Systems Ltd wins the contracts under a five-year framework agreement with a major UK utility company. The work covers the design and installation of cyber-secure infrastructure protection systems to safeguard critical utility assets and support operational resilience. Journeo says work has already started and is expected to complete in 2026, with the contracts reflecting continued demand for its specialist security and infrastructure solutions. ---------- Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
