Author: Fiona Craig

Grainger (LSE:GRI) reiterated its target of delivering 35% earnings growth between FY25 and FY29 after reporting portfolio occupancy above 96% for the 11 months to the end of August 2026.

The private rental housing provider reported like-for-like Build to Rent rental growth of 3%, in line with its guidance, alongside continued demand across its portfolio.

Grainger said leasing at recently launched developments, including Glasshouse Square in Bristol, was running ahead of its underwriting assumptions.

The company also said it has adapted its operations to the new Renters’ Rights Act and has not recorded an increase in tenant departures or rent challenges following the changes.

Grainger’s earnings growth target is supported by three committed Build to Rent developments and its wider secured development pipeline. The company has received planning permission for a 425-home development at Cambridge North.

Alongside its development programme, Grainger is pursuing an accelerated disposal programme covering approximately £850 million of non-core assets.

The group is targeting a £300 million to £350 million reduction in net debt by FY29 and is also seeking additional cost savings. These measures are intended to offset the impact of higher interest costs as the company works towards its FY29 earnings target.

More about Grainger

Grainger plc is a U.K.-listed provider of private rental housing and operates in the Build to Rent sector. Its portfolio comprises more than 11,000 rental homes.

The company develops and manages rental communities and works with infrastructure and transport organisations, including Network Rail and Transport for London, on developments in urban locations.

PetroTal (LSE:TAL) reported average group production of 13,181 barrels per day for the year to date, approximately 3% above budget, while also securing revised royalty terms for incremental production at its Los Angeles field in Peru.

Group production averaged 11,709 barrels per day in August, with output primarily coming from the Bretana field.

At Bretana, PetroTal completed a pulling campaign and workovers involving five wells. The programme included replacing pumps and tubing and increasing water injection capacity.

The company plans to resume development drilling in October, with the Estrella drilling rig already at the site.

In Block 131, PetroTal secured a revised price-linked royalty structure covering incremental production from the Los Angeles field. Royalty rates for production from deeper formations will be capped at 5%.

As part of the revised arrangements, PetroTal will increase its contributions to the social fund and has committed to drilling two wells within two years.

Separately, the company is retendering its erosion control project at Bretana after ending its arrangement with the previous contractor. PetroTal is continuing interim remediation work while preparing to restart construction under a new contract.

The company has also updated its corporate presentation ahead of investor meetings in London.

More about PetroTal Corp

PetroTal Corp. is a Calgary-domiciled oil and gas development and production company with listings including LSE:TAL. Its operations are focused on onshore crude oil assets in Peru.

The company’s principal producing asset is the Bretana Norte oil field in Block 95. PetroTal also operates the Los Angeles field in Block 131.

Team Internet (LSE:TIG) reported an unaudited operating profit of USD 3.0 million for the first half of 2026, marking its first positive half-year operating result since 2024, as the group continued the transition of its Search business.

Net revenue was USD 61.0 million, with a gross margin of 34.1%. The company said its higher-margin DIS operation and growing Comparison business accounted for an increasing proportion of the group’s earnings following changes to Search.

Adjusted EBITDA was USD 19.5 million, equivalent to 32.0% of net revenue. Adjusted operating cash flow declined to USD 3.6 million, resulting in cash conversion of 18%.

Team Internet attributed the lower cash conversion to a one-off working capital impact associated with the non-renewal of a registry contract. Net debt increased to USD 117.6 million, also reflecting the working capital movement and USD 14.8 million of tax payments relating to previous years.

The company reported available liquidity of USD 78.2 million and said the board expects net debt to decline significantly during the second half of 2026.

Operationally, Team Internet reported growth in DIS and higher margins in its Comparison operation. The Search business, which has been reduced following its transition, returned to profit in June, according to the company.

Team Internet also said its strategic review has reached an advanced stage. Discussions remain underway regarding potential transactions involving all or parts of the division.

The company said potential transactions under discussion could result in a valuation materially above USD 160 million. No transaction has been confirmed in the supplied information, and the strategic review remains ongoing.

More about Team Internet Group

Team Internet Group plc is a global internet company operating across online presence and digital commerce.

Its DIS operation distributes domain names and related digital products through approximately 17,000 channel partners worldwide. According to the company, DIS supports registry platforms for more than half of the top 20 new top-level domains and serves small businesses, retail customers and larger enterprises.

The group’s digital commerce activities include Comparison and Search. Comparison operates consumer guidance platforms, including in Germany, while Search connects online audiences with advertisers through search-based advertising formats.

Asiamet Resources Limited (LSE:ARS) has confirmed that all conditions precedent relating to the proposed sale of Indokal Limited, which holds a 100% interest in the KSK Project in Indonesia, to Norin Mining (Hong Kong) Limited have been satisfied or waived.

The AIM-listed mining and exploration company said the parties are now proceeding with the remaining steps required to complete the transaction.

Asiamet expects completion of the sale to take place shortly. The company did not provide a specific completion date in the supplied announcement.

Indokal is currently a wholly owned subsidiary of Asiamet and holds the company’s 100% interest in the KSK Project. Completion of the transaction will therefore result in the disposal of the project to Norin Mining.

The latest announcement confirms that the regulatory and contractual conditions required ahead of completion have been addressed. Further details are expected following completion of the transaction.

More about Asiamet Resources

Asiamet Resources Limited is an AIM-listed mining and exploration company focused on copper and other base metal assets in Indonesia.

Its portfolio has included the KSK Project, which is held through wholly owned subsidiary Indokal Limited. The company’s activities include developing mineral projects and undertaking transactions involving its asset portfolio.

Gamma Communications (LSE:GAMA) reported a 4% increase in first-half 2026 revenue to £330 million, while its board has recommended an all-cash takeover offer from Epiris.

Gross profit increased 4% year-on-year, with the gross margin unchanged at 54%. The company reported adjusted cash conversion of 97% and return on capital employed of 30%, while recurring revenue represented 90% of the group total.

Gamma said its German SME operation recorded a 30% increase in gross profit, while its Service Provider business also improved. These gains were partially offset by margin pressures in the UK SME and Enterprise businesses amid challenging domestic economic conditions.

The group also reported continued cash generation and a reduction in leverage following its acquisition of Starface.

In the UK, Gamma said demand continued for cloud communications and full-fibre connectivity products. Gross profit associated with PSTN services remained stable, supported by pricing measures. The company also reported progress in the Asia-Pacific region, including additional licences and new customers.

Gamma continued the deployment of Cisco’s Webex for Gamma across its core markets during the period and expanded the use of AI-enabled capabilities within its communications offering.

Separately, Gamma’s board has recommended an all-cash acquisition by Epiris. Following the recommendation, dividend payments and share buybacks have been suspended.

The board said its assessment of the offer took into account the risks associated with executing Gamma’s standalone strategy and prevailing market conditions. The proposed transaction remains a material consideration for shareholders alongside the company’s first-half operating performance.

More about Gamma Communications

Gamma Communications is a FTSE 250-listed provider of communications technology serving small and medium-sized businesses, larger companies and public-sector organisations.

The group provides cloud communications software, calling and network connectivity through its own telecommunications infrastructure and third-party platforms. Its operations include the UK, Germany, Spain and the Netherlands, with more than 2,000 employees.

Gamma serves customers through channel partners and direct relationships. Its operations include Gamma Business for UK SMEs, Gamma Enterprise for larger organisations and a German business serving SMEs through partners and a self-service digital platform.

The company also works with technology providers including Cisco, offering communications services incorporating telephony, messaging, video and AI-enabled customer experience capabilities.

Gateley (LSE:GTLY) has announced that its Austen Hays business has secured a settlement in its first class action case, with settlement payments expected to be available for distribution by 31 March 2027.

The professional services group said the agreement is expected to materially increase Austen Hays’s contribution to the group and provide a cash benefit to Gateley’s net debt position during the current financial year.

The settlement represents the first class action case completed by Austen Hays. Gateley said the outcome reflects progress within the business following its previous investment in the operation.

The board said the settlement also supports the group’s strategy of generating returns from historical growth investments, with a focus on their contribution to revenue and margins.

Gateley did not provide financial details of the settlement in the supplied announcement. The company said further information on the agreement will be provided alongside its upcoming first-half pre-close trading update, which will also cover the group’s wider trading performance.

More about Gateley (Holdings)

Gateley (Holdings) Plc is a U.K.-listed professional services group operating on AIM under the ticker GTLY. The company provides legal and related advisory services, including class action services through its Austen Hays business.

The group’s strategy includes generating returns from previous growth investments and increasing their contribution to group revenue and margins.

Churchill China (LSE:CHH) reported revenue of £37.4 million for the six months ended 30 June 2026, down 2.9% from the same period a year earlier, as lower UK hospitality and materials sales offset increases in European and U.S. revenue.

Profit before tax and exceptional items declined 19.4% year-on-year to £2.5 million. The company reported improved cash generation during the period, with net cash increasing to £8.5 million.

Churchill China maintained its interim dividend at 7p per share.

The company said sales declines have stabilised and factory performance has improved. It also continued capital expenditure during the period and reduced inventory, which supported cash generation.

Trading was affected by costs associated with European distribution and freight expenses linked to conditions in the Middle East. Churchill China said it nevertheless expects full-year profitability to be in line with its expectations.

Management said the company has gained market share and improved its competitive position despite lower demand across global hospitality markets. The group also continues to face uncertainty associated with geopolitical conditions.

Chief Executive Officer James Roper plans to focus on increasing project business, expanding the customer base and using recent investments in products, employees and manufacturing capabilities to support sales growth.

More about Churchill China

Churchill China is a U.K.-based manufacturer of ceramic products for hospitality markets. The company supplies tableware and related products to customers in the UK and international markets, including Europe and the U.S.

The group operates manufacturing facilities in Stoke-on-Trent and has been investing in automation and production efficiency. Its business includes replacement-driven sales to hospitality customers.

GetBusy (LSE:GETB) reported group annualised recurring revenue of £24.0 million for the first half of 2026, representing growth of 12% at constant currency, as its SmartVault business recorded higher recurring revenue.

SmartVault ARR increased 22% year-on-year to $19.1 million. The company said new business increased 19%, including growth of 52% from Thomson Reuters UltraTax users and 8% from Intuit users following integrations with the platforms.

According to GetBusy, SmartVault is integrated with the major U.S. tax software ecosystems and is used by more than 31,000 professionals across 7,000 firms. The platform manages more than 650 million client documents.

GetBusy said it expects SmartVault ARR growth of approximately 20% for 2026 and anticipates operating leverage will move the business’s EBITDA margin towards 20% during the year.

Wórkiro ARR increased 1% year-on-year to £9.7 million and was 4% higher compared with the start of 2026. The company said growth was supported by customer migrations from Virtual Cabinet and an expanded collaboration with TaxCalc, which provides access to approximately 11,000 accountancy firms.

At group level, recurring revenue increased 11% at constant currency to £11.6 million, while total revenue rose 11% to £12.0 million. Adjusted EBITDA increased to £0.6 million, while the company reported a narrower loss before tax. Net bank debt stood at £0.7 million, representing a modest increase.

Management expects SmartVault to remain the main contributor to group growth and plans to continue migrating customers to Wórkiro. The company also intends to pursue additional integration partnerships for Wórkiro in the UK and Australia and New Zealand.

More about GetBusy Plc

GetBusy plc provides SaaS document workflow software for professional and financial services businesses, with products focused on document management, workflow and compliance requirements.

Its platforms include SmartVault, which serves the U.S. tax preparation market, and Wórkiro, which is designed for professional services businesses and cloud ERP environments. GetBusy’s platforms manage workflows involving more than 1.3 billion documents for over 60,000 users globally.

The company is also migrating customers from its legacy Virtual Cabinet product to Wórkiro as part of its product strategy.

TheWorks.co.uk plc (LSE:WRKS) has raised its FY27 earnings guidance after reporting a 10.4% increase in like-for-like sales during the first 18 weeks of the financial year.

The sales increase compares with like-for-like growth of 5.9% during the corresponding period of FY26. The retailer said growth was recorded across all four of its product categories.

Following the trading performance, the board increased its expectation for FY27 pre-IFRS 16 adjusted EBITDA to at least £16.0 million, compared with its previous guidance of £15.0 million.

The company attributed the sales performance to its product offering and the execution of its Elevating The Works growth strategy.

TheWorks said the wider macroeconomic environment remains uncertain and noted that the Christmas trading period will be an important part of its full-year performance.

More about TheWorks.co.uk plc

TheWorks.co.uk plc is a specialist retailer of arts and crafts, stationery, toys and games, and books, with a focus on affordable, screen-free activities.

The group operates more than 500 stores across the UK and Ireland, selling products aimed at families and consumers seeking value-focused leisure, creative and educational activities.

Forgent plc (LSE:FORG) has completed the first component of its Phase II drilling programme at the 99%-owned Peak Hill Gold-Copper Project in Western Australia, with the drilling rig now moved to the Cathedral prospect.

The company completed 18 holes totalling 710 metres at the Curley’s prospect. The drilling was designed to test the continuity and extent of previously identified mineralisation, with samples now being submitted for assay.

Drilling has subsequently moved to Cathedral, a large target situated between the Curley’s and Junction prospects that has not previously been drilled.

Forgent plans to drill 112 holes at Cathedral as part of the wider Phase II programme, which comprises 130 holes for approximately 8,700 metres across the project.

According to the company, Cathedral represents the principal discovery target of the current drilling phase. Results from the programme will provide additional geological information on the target and the broader Peak Hill project.

More about Forgent plc

Forgent plc is an Australian-focused explorer targeting gold, copper and nickel assets. Its portfolio includes the 99%-owned Peak Hill Gold-Copper Project, an option over the Mount Sholl nickel-copper-PGE project and the Green Rocks copper-gold project.

The company’s exploration strategy focuses on advancing projects with existing mineralisation and historical geological data through further exploration and drilling.