Author: Fiona Craig

One Media iP Group (LSE:OMIP) reported stronger profitability for the year ended 31 October 2025, despite a slight dip in revenue, as cost-control measures and the sale of its non-core TCAT business supported earnings. EBITDA increased to £2.1 million, operating profit rose to £1.2 million and profit before tax reached £0.9 million. Basic earnings per share from continuing operations surged by 80%, while net debt declined, helped by lower administrative expenses and reduced losses from discontinued operations.

Strategically, the company has tightened its focus on its core music intellectual property activities following the TCAT divestment. As part of the transaction, One Media retained a 5% shareholding in TCAT’s buyer, Round Group, and secured an exclusive licence for a major classic rock podcast catalogue to expand its digital content offering. Growth in YouTube views and subscriber numbers, renewed media interest in its Take That-related rights and continued expansion in music streaming are expected to support the group’s strategy centred on catalogue management, disciplined margins and scalable digital distribution. The board has chosen to suspend dividends for now in order to preserve capital and maintain flexibility for potential corporate opportunities.

The company’s outlook is shaped mainly by its financial performance, which reflects declining revenue and profitability but stronger cash flow management. Technical indicators suggest negative momentum in the share price, while valuation metrics remain weak due to negative earnings. The absence of recent earnings call information or major corporate developments means these factors do not currently influence the overall assessment.

More about One Media iP

One Media iP Group Plc is an AIM-listed digital music rights acquirer, publisher and distributor based in London. The company manages a catalogue of more than 400,000 tracks and monetises its intellectual property through global digital platforms such as Apple Music, YouTube, Amazon and Spotify, as well as through film and television synchronisation opportunities.

Derwent London plc (LSE:DLN) has confirmed that its issued share capital consists of 112,297,122 ordinary shares with a nominal value of 5 pence each. All of these shares carry voting rights, and none are currently held in treasury. Accordingly, the company’s total voting rights also amount to 112,297,122, which serves as the official reference figure shareholders should use when determining whether they must disclose changes in their holdings under the UK Financial Conduct Authority’s transparency and disclosure requirements.

The announcement establishes the denominator used for regulatory reporting, enabling investors and other stakeholders to calculate their ownership positions against the company’s full voting share base. By confirming that no shares are held in treasury, Derwent London highlights that every issued share currently contributes to shareholder voting rights, an important consideration for institutions monitoring disclosure thresholds and governance obligations.

Derwent London’s outlook is supported by signs of improving financial performance and a broadly positive management outlook centred on shareholder returns. This includes upgraded estimated rental value guidance, continued leasing activity and capital recycling initiatives. These factors are balanced by weaker technical indicators, including negative momentum and a bearish price trend, alongside near-term earnings pressure stemming from higher financing costs and significant development capital expenditure.

More about Derwent London plc REIT

Derwent London plc is a UK real estate investment trust focused on the ownership, management and development of commercial property, primarily in central London. Its portfolio is largely made up of office and mixed-use buildings, positioning the company as a specialist landlord serving institutional and corporate tenants in key London sub-markets.

Shearwater Group plc (LSE:SWG), a provider of cybersecurity advisory and managed security services, has confirmed that Non-Executive Director Giles Willits has stepped down from the board effective 1 April 2026 after serving the company for more than ten years. The change follows the earlier appointment of Robin Southwell as chair, a transition the board says has been smooth and has strengthened leadership continuity at the company.

The group has now started an advanced search process to appoint a new Non-Executive Director, reflecting its ongoing emphasis on maintaining strong governance and board oversight. At the same time, management said business performance continues to track market expectations, with new contract opportunities advancing through the pipeline. The company noted that it is entering the second half of FY26 with growing confidence in its strategy and its ability to meet its stated goals, providing reassurance for investors and stakeholders.

Shearwater’s outlook is currently weighed down by weaker financial quality, including ongoing operating losses and declining free cash flow despite strong revenue growth. These factors are partially balanced by favourable short-term technical signals, with the share price trading above the 20-day and 50-day moving averages and a positive MACD indicator. Valuation metrics remain limited by a negative P/E ratio due to losses and the absence of a reported dividend yield.

More about Shearwater

Shearwater Group plc is a UK-based provider of cybersecurity, managed security, and professional advisory services operating globally. Its portfolio includes identity and access management, data protection, cybersecurity technologies, managed security services, and governance, risk and compliance solutions. The company is pursuing a buy-and-build strategy to expand its capabilities, and its shares trade on AIM under the ticker SWG.

Billington Holdings (LSE:BILN) has been awarded approximately £50 million in new contracts spanning sectors such as carbon capture, education, transport, cultural venues, semiconductor manufacturing and data centres. Most of the projects are expected to be delivered during 2026, with some extending into 2027. The latest awards include Tubecon’s largest bridge contract to date, alongside new customer relationships in the carbon capture and semiconductor industries, reflecting rising demand linked to low-carbon energy and data infrastructure.

Management noted that the expanded order pipeline provides confidence that the group can deliver performance in line with market expectations for 2026, despite ongoing geopolitical uncertainty and continued pressure on margins. After closing its Yate manufacturing facility, Billington has streamlined operations and expanded capacity at its Barnsley sites to support future project demand. The company plans to provide further updates when it releases its 2025 results and hosts an online investor presentation in April.

Billington’s outlook is primarily supported by strong financial performance and an attractive valuation profile. Healthy profitability and low levels of debt contribute to solid financial stability. At the same time, technical indicators point to potentially overbought share conditions, while recent corporate developments illustrate both the challenges facing the sector and the company’s positioning for continued growth.

More about Billington Holdings

Billington Holdings is a UK-based engineering group focused on structural steel solutions and construction safety systems, serving customers across the UK and Europe. The company specialises in complex structural projects and aims to develop long-term client partnerships in sectors that require high levels of technical expertise and professional standards.

Prospex Energy (LSE:PXEN) has been awarded the San onshore gas exploration licence in southern Poland through its wholly owned subsidiary PXEN Tatra, marking the company’s expansion into a third European country. The licensing process for the nearby Dunajec area is still underway, and Prospex intends to deploy modern imaging and development technologies in this established gas-producing region to help accelerate exploration success and potential production.

The company will initially control a 100% working interest in the San licence and, if granted, the Dunajec licence as well. Both lie within the Carpathian foredeep, a region known for its significant gas resources and well-developed infrastructure. Prospex plans to attract joint venture partners as part of its investment-led operating model, with the Polish assets expected to become important growth opportunities as European demand for gas continues to increase.

Prospex’s investment profile is currently weighed down by weak financial fundamentals, including ongoing operating losses and several years of negative operating and free cash flow, although the company maintains a relatively low level of debt. Technical indicators also remain negative, with the share price trading below key moving averages and showing a bearish MACD signal. Valuation metrics appear stretched as well, reflected in a very high P/E ratio and the absence of a dividend yield.

More about Prospex Energy

Prospex Energy is an AIM-listed investment company focused on oil, gas, and power projects across Europe. The group targets undervalued onshore and shallow offshore opportunities with relatively short timelines to production, applying cost-efficient re-evaluation techniques to reduce exploration risk and quickly scale gas output to support future development.

Smiths Group (LSE:SMIN) has finalised the divestment of its Smiths Interconnect unit to Molex Electronic Technologies Holdings, part of Koch, completing a deal that was initially announced in October 2025. The transaction aligns with Smiths’ strategy to concentrate on its core high-performance industrial engineering businesses while transferring the Interconnect operations to an owner with deeper roots in electronic technologies.

The sale delivers roughly £1.3 billion in cash proceeds. Of this amount, £1 billion will be distributed to shareholders through a share buyback programme currently underway. The remaining capital will be directed toward growth initiatives expected to create value and toward reinforcing the company’s balance sheet. Management views the move as a way to release capital from non-core activities and redeploy it into higher-return opportunities to support long-term shareholder value.

Smiths’ investment outlook continues to be supported by strong profitability, solid cash generation, and a stable balance sheet, alongside expectations for earnings growth and continued shareholder distributions. However, these positives are balanced by weaker technical indicators, including a downward price trend and bearish MACD signals, as well as a relatively elevated P/E ratio despite a moderate dividend yield.

More about Smiths Group plc

Smiths Group is a London-listed industrial engineering company with a history spanning 175 years and operations across more than 50 countries. The group develops engineering solutions serving the energy, industrial, construction, and aerospace sectors, with technologies designed to address global challenges such as decarbonisation and increasing demand for efficient industrial and energy systems.