AB Dynamics (LSE:ABDP) has completed its strategic review of VadoTech, its Chinese testing services business, and has agreed with its customer to terminate the existing contract and withdraw from the on-road vehicle testing market in China. The business will now be classified as a discontinued operation and is expected to reduce reported group revenue for FY2026 by approximately £4 million. Restated FY2025 figures show that VadoTech generated £10.5 million in revenue while reducing adjusted operating profit by around £1.0 million, reflecting the group’s strategy of focusing on higher-margin core operations.
The company said trading conditions became more challenging during the second half as geopolitical uncertainty, supply chain disruption linked to the Middle East and delays to automotive development programmes affected customer order timing. Although AB Dynamics continues to report a healthy sales pipeline, order conversion has slowed. As a result, the company now expects FY2026 revenue from continuing operations to be between £90 million and £95 million. Management is nevertheless targeting an adjusted operating margin of 20% through disciplined cost management, while its strong net cash position of £41.7 million provides financial flexibility to continue investing in product innovation and commercial expansion.
The company’s outlook remains supported by solid financial fundamentals, including strong profitability, low leverage and healthy cash generation, alongside expectations for improved order activity over the longer term. However, technical indicators remain weak, with the shares trading below key moving averages and negative momentum signals persisting. Valuation also remains relatively demanding, with a higher price-to-earnings multiple and a modest dividend yield limiting upside from a valuation perspective.
About AB Dynamics
AB Dynamics is a UK-based developer and manufacturer of advanced testing, simulation and measurement technologies for the global transport industry. Its products are used by leading automotive manufacturers, Tier 1 suppliers and engineering service providers to test, validate and improve vehicle safety systems, autonomous driving technologies and vehicle dynamics across international markets.
Shield Therapeutics (LSE:STX) has announced the publication of results from its Phase 3 FORTIS pediatric trial of ferric maltol in the journal Pediatric Drugs, providing further evidence supporting the treatment of iron deficiency anemia in children. The study demonstrated that ferric maltol significantly improved both hemoglobin levels and iron stores within 12 weeks in patients as young as one month old. Researchers also found that the treatment appeared to offer improved tolerability and palatability compared with conventional ferrous sulfate therapy.
The trial delivered clinically and statistically significant improvements in hemoglobin across all treatment groups. Children receiving ferric maltol experienced no treatment discontinuations due to adverse events, while treatment-related side effects occurred less frequently than in those treated with ferrous sulfate. The published findings strengthen Shield Therapeutics’ strategy to seek regulatory approval for a liquid formulation of ferric maltol for children aged two years and older. If approved, the expanded indication would broaden the potential use of ACCRUFeR/FeRACCRU in the pediatric market and enhance the company’s position within the growing iron deficiency treatment sector.
The company’s outlook continues to be influenced by financial challenges. Although operational progress has improved, Shield Therapeutics remains loss-making, with ongoing cash burn and negative shareholder equity. Technical indicators also remain weak, with the share price continuing to trade in a downward trend despite appearing oversold. Valuation offers only limited support, as the negative price-to-earnings ratio reflects the company’s current losses and there is no dividend yield.
About Shield Therapeutics
Shield Therapeutics is a commercial-stage specialty pharmaceutical company focused on the treatment of iron deficiency and iron deficiency anemia through its novel oral iron therapy ACCRUFeR/FeRACCRU (ferric maltol). The company markets the product in the United States and several international markets through commercial partnerships, targeting both adult and pediatric patients. Its intellectual property portfolio provides patent protection extending into the mid-2030s.
Croda International (LSE:CRDA) delivered a solid first-half performance in 2026, with group revenue rising 2.9% to £880.5 million and organic sales growth of 4.6%. Consumer Care remained the key growth driver, with sales increasing 8%, supported by strong demand across several product categories. Beauty Actives recorded growth of 19%, while Beauty Care, Home Care, and Fragrances & Flavours increased by 4%, 9%, and 8% respectively. These gains helped adjusted operating profit rise 6.7% to £155.8 million, with the adjusted operating margin improving to 17.7% despite modest currency headwinds.
While Life Sciences delivered broadly stable sales and Industrial Specialties experienced a decline, the group generated profit growth that outpaced revenue growth, supported by increasing demand for innovative and protected products. Croda also benefited from the early impact of its transformation programme, which delivered £18 million of incremental cost savings during the first half. Free cash flow increased 36.8% to £38.3 million, while leverage improved slightly to 1.4 times. Management reaffirmed its full-year 2026 guidance, maintaining expectations for organic growth of between 3% and 6% alongside further margin expansion, reflecting confidence in its long-term strategy despite ongoing macroeconomic and geopolitical challenges.
The company’s outlook remains underpinned by a strong financial position, supported by healthy cash generation and manageable leverage levels. Technical indicators also remain constructive, although valuation continues to be demanding due to the company’s relatively high price-to-earnings multiple. Management also acknowledged execution risks, including exceptional charges and varying performance across business segments, although progress on the transformation programme and reaffirmed guidance provide additional confidence.
About Croda International
Croda International is a global specialty chemicals company that develops high-performance ingredients and technologies for the consumer care, life sciences and industrial sectors. Its portfolio includes ingredients for beauty and personal care products, home care applications, pharmaceutical excipients, and crop and seed enhancement solutions. The company focuses on innovation-led, higher-value products designed to support sustainable growth and improve customer performance across global markets.
Dotdigital (LSE:DOTD) delivered solid growth for the financial year ended 30 June 2026, with revenue increasing 8% to £90.9 million. Gross margin improved to 80%, reflecting the continued strength of its core customer experience and data platform, which accounted for 84% of total group revenue. The company also recorded double-digit growth in recurring revenue and contracted annual recurring revenue (ARR), strengthening its base of predictable income and supporting revenue, profit and cash generation in line with market expectations.
Recent acquisitions continued to perform well, with Alia and Social Snowball generating ARR growth of 45% and 33% respectively since joining the group. Dotdigital also expanded its artificial intelligence capabilities through the launch of several new products, including its proprietary MCP server, Dotdigital Loyalty and Agents in Dotdigital. Management said these product developments, combined with enhanced commercial execution under the company’s new chief revenue officer, provide confidence in achieving its FY27 targets while accelerating organic growth.
The company’s outlook remains supported by strong profitability, healthy cash conversion and a low level of leverage. Valuation also appears attractive, with a price-to-earnings ratio of 11.95 and a dividend yield of 2.74%. However, technical indicators remain less favourable, as the shares continue to trade below key moving averages and momentum signals point to a bearish, oversold trend.
About Dotdigital Group
Dotdigital Group is a London-based provider of AI-powered marketing automation and customer engagement software. Its customer experience and data platform enables businesses to manage customer acquisition, engagement, retention, loyalty and advocacy across multiple channels. The company serves more than 9,800 customers across 150 countries through offices in Europe, North America, Asia-Pacific and Africa.
Founded in 1999, Dotdigital has built a high-margin, recurring revenue business centred on its customer experience and data platform. The company’s technology combines customer data with intelligent automation, helping brands deliver personalised marketing campaigns while maintaining creative control in an increasingly AI-driven digital landscape.
Restore plc (LSE:RST) delivered a strong first-half performance in 2026, with revenue increasing 21% to £175.4 million and adjusted earnings per share rising 24%. The growth was supported by a combination of organic expansion and acquisitions. Information Management was the standout performer, recording revenue growth of 26%, while the Technology division returned to stronger trading. Improved profitability and reduced leverage, which fell to 1.7x, enabled the company to increase its interim dividend while continuing to invest in future growth initiatives.
During the period, Restore completed four strategic bolt-on acquisitions and continued progressing its £20 million share buyback programme, repurchasing £4.6 million of shares in the first half. The group also advanced the consolidation of its Information Management property portfolio, a move expected to generate further cost efficiencies. With every division performing at or above management expectations and robust cash generation supporting both acquisitions and shareholder returns, the company expects to deliver full-year profits in line with current market forecasts. Restore also confirmed that a planned leadership transition will take place in early 2027.
The company’s outlook remains balanced. While recurring cash generation continues to provide financial flexibility, profitability has been subject to periods of inconsistency and leverage remains at a moderate level. Technical indicators offer a mixed picture, with no clear momentum trend emerging. Valuation also remains a consideration, as the shares trade on a relatively high price-to-earnings multiple, although this is partially supported by the company’s dividend yield.
About Restore plc
Restore plc is a UK-based provider of secure and sustainable business services specialising in the management of data, information, communications and physical assets. The company operates across several divisions, including Information Management, Datashred and Technology, with recurring revenues supported by long-term document storage services and steady demand for secure shredding and information management solutions.
Geo Exploration Limited (LSE:GEO) has completed the interpretation of comprehensive airborne geophysical and LiDAR surveys across its Gorge Project in Western Australia, with the results confirming the project sits within the regionally significant Wyloo Dome. This geological setting is comparable to several major Australian gold districts. The latest work has significantly increased the number of priority exploration targets from three to 12, while also enhancing the ranking of established prospects including MAG001, Gorge Mine and the 401 Prospect. The survey also identified a complex network of faults and folds that further strengthens the project’s exploration potential.
The newly processed magnetic, radiometric, LiDAR and aerial imagery data has outlined a major structural corridor, highlighted potential intrusive bodies at depth and identified multiple fault intersections considered favourable for gold mineralisation. In addition, the survey uncovered evidence of far more extensive historical mining activity than previously recognised, including 24 historic mine shafts, 12 exploration trenches and widespread quartz veining. Together, these findings provide Geo Exploration with a substantially larger portfolio of well-defined targets to advance through future field exploration and drilling programmes.
About Geo Exploration Limited
Geo Exploration Limited is an exploration company focused on discovering gold deposits in Western Australia. Its flagship asset is the Gorge Project, located within the highly prospective Wyloo Dome, where the company applies advanced exploration technologies, including magnetic, radiometric and LiDAR surveys, to identify and prioritise gold targets across a large regional mineral system.
Gaming Realms (LSE:GMR) reported a resilient performance for the first half of 2026, with core content licensing revenue rising by approximately 9% and adjusted EBITDA increasing around 16% on a comparable basis. The improvement came despite weaker contributions from its non-core brand licensing business. The group expects first-half revenue of approximately £15.5 million and adjusted EBITDA of £6.6 million. Strong cash generation continued throughout the period, leaving the company with net cash of £13.5 million following the completion of a £6 million share buyback programme. Management remains confident that full-year results will meet current market expectations.
The company also returned to growth in its domestic market, with UK revenue increasing 3% and gross gaming revenue exceeding levels seen before the introduction of betting stake limits, despite the increase in Remote Gaming Duty from 21% to 40%. Internationally, Gaming Realms expanded into additional regulated markets, including Africa and Peru, launched 11 new titles featuring games developed by its Lucky Lunar studio, and entered Alberta’s newly regulated iGaming market. These developments extend the company’s presence to 33 regulated jurisdictions, further strengthening its position as an international supplier of gaming content.
The company’s outlook is supported by strong operating margins, a low-debt balance sheet and a favourable earnings growth profile driven by multiple expansion opportunities. However, softer net margins and free cash flow recorded during 2025 continue to weigh on the overall picture. Technical indicators remain less supportive, with the shares trading below longer-term moving averages, while valuation appears broadly balanced based on the current price-to-earnings multiple.
About Gaming Realms
Gaming Realms is a UK-based developer and licensor of mobile-first gaming content, serving regulated markets across the UK, the United States, Canada and Malta. The company develops and licenses proprietary gaming brands, including its well-known Slingo portfolio alongside bingo and slot games, combining entertainment, media and data-driven technology to deliver innovative content to operators worldwide.
Flowtech Fluidpower (LSE:FLO) delivered a solid first-half performance, with revenue increasing 23.7% year-on-year to £70.4 million. Organic revenue growth reached 13.2%, reflecting continued market share gains across all operating regions, while recently completed acquisitions also contributed to the stronger result. Despite supply chain disruption and inflationary pressures linked to events in the Middle East, the company maintained resilient margins and customer service standards. Two major bridge projects experienced delays, with their expected contribution now anticipated in the second half of the year.
The integration of five recently acquired businesses is progressing faster than originally planned. Collectively, these acquisitions are expected to contribute around £30 million in annualised revenue and more than £3 million in EBITDA, having been completed for a combined consideration of approximately £6 million. Net debt was reduced to £16.5 million, leaving the group with substantial headroom under its banking facilities. Management expects stronger cash generation in the second half, supported by continued investment in its digital platform, a healthy order book and ongoing operational improvements, providing confidence in further growth in revenue, profitability and leverage reduction before the end of the year.
The company’s overall outlook reflects a balanced picture. Operational performance and cash generation have improved, but profitability remains inconsistent, with net income still negative. Technical indicators remain supportive, as the share price continues to trade above key moving averages, although overbought conditions could increase the likelihood of short-term volatility. Valuation also remains constrained, with a negative price-to-earnings ratio highlighting that the business has yet to establish sustained profitability.
About Flowtech Fluidpower
Flowtech Fluidpower is a specialist supplier of hydraulic, pneumatic and process engineering products and services across the UK, Ireland and the Benelux region. The group provides industrial components, engineering expertise and large-scale project support to businesses involved in designing, building and maintaining industrial facilities. Operating in a fragmented European market valued at around £30 billion, Flowtech employs approximately 600 people and owns a portfolio of established brands including Flowtech, Thorite, Allswage, Thomas Group, Q Plus and Helipebs Controls.
Georgina Energy (LSE:GEX) has commenced the mobilisation of a water well contractor at its Hussar EP513 project in Western Australia as preparations continue for a planned 50-day drilling programme in the third quarter of 2026. The campaign will use the Ensign 970 drilling rig and is designed to reach a target depth of 3,200 metres, focusing on subsalt reservoirs including the Townsend Formation and fractured Neoproterozoic basement, where the company is targeting helium, hydrogen and natural gas.
Development activities, including the installation of water bores and supporting site infrastructure, are being funded entirely by project partner Harlequin and its affiliated parties. As a result, Georgina Energy’s expected drilling schedule remains unchanged. Hussar hosts independently certified 2U prospective resources of 285 BCFG of helium, 315 BCFG of hydrogen and 2.93 TCF of natural gas. The company said ongoing site inspections, logistical planning and regulatory preparations are intended to keep the project on schedule while ensuring all operational requirements are met.
The company’s overall assessment continues to be weighed down by weak financial fundamentals, including the absence of revenue, continuing losses, negative operating cash flow, negative shareholder equity and increasing debt levels. However, stronger technical trading momentum has provided some support, although valuation remains limited by the company’s loss-making position and the lack of a dividend.
About Georgina Energy plc
Georgina Energy plc is a London-listed exploration company focused on helium and hydrogen opportunities in Australia through its wholly owned subsidiary, Westmarket Oil & Gas. Its portfolio includes the wholly owned Hussar prospect in the Officer Basin of Western Australia and the Mt Winter prospect in the Amadeus Basin, providing exposure to growing global demand for helium, hydrogen and natural gas resources.
The race to develop commercially viable quantum technologies is accelerating, but the biggest breakthroughs are unlikely to come from simply scaling today’s approaches. Instead, they will come from solving the fundamental scientific challenges that have limited quantum computing for decades.
That was the key message from a recent fireside discussion hosted by Delta Gold Technologies (AQSE:DGQ)(USOTC:DGQTF) (FRA:02J), where CEO and Co-founder Mike Jones was joined by Professor Harry Ruda of the University of Toronto and Professor Ken Knappenberger of Penn State University.
The event provided investors with a rare opportunity to hear directly from two internationally respected researchers leading Delta Gold’s quantum research programmes, offering valuable insight into why the company believes its gold-based quantum platform could represent a fundamentally different route towards scalable quantum technologies.
Building Quantum From the Ground Up
Rather than chasing incremental improvements to existing quantum architectures, the discussion focused on addressing one of the industry’s greatest challenges: creating qubits that are both stable and scalable.
Current quantum platforms often excel in one area but struggle in the other. Trapped ion systems can offer exceptional stability but remain difficult to scale, while many solid-state approaches can be manufactured at larger volumes but introduce unwanted noise that reduces performance.
Professor Ken Knappenberger explained that solving both challenges simultaneously remains one of the defining problems facing the global quantum computing industry.
Delta Gold’s research seeks to tackle this challenge through engineered gold nanoclusters, designed to combine the advantages of atomic-scale stability with the manufacturing potential needed for practical quantum devices.
A Different Approach to Quantum
One of the most compelling aspects of the discussion was the complementary expertise brought together by Delta Gold’s academic partnerships.
Professor Harry Ruda approaches the challenge from the perspective of semiconductor physics and electronic quantum systems, while Professor Ken Knappenberger specialises in quantum chemistry and the unique properties of gold nanoclusters.
Rather than competing approaches, the scientists described how their research programmes increasingly complement one another, creating opportunities to share discoveries across multiple quantum technologies, including quantum computing, sensing and communications.
Mike Jones noted that bringing these leading researchers together in person had already generated new ideas beyond the company’s original research roadmap, highlighting the value of international collaboration between Canada, the United States and, increasingly, the United Kingdom.
Gold as a Quantum Material
Perhaps the most intriguing element of the discussion centred on gold itself.
While much of today’s quantum industry has focused on superconducting circuits, trapped ions, diamond defects and neutral atoms, Delta Gold is exploring gold nanoclusters as an entirely different quantum platform.
According to Professor Knappenberger, gold offers something unique: a material whose properties can be chemically tailored rather than relying on naturally occurring defects or fixed atomic structures.
This ability to engineer materials at the molecular level could provide significant flexibility in designing future quantum devices while supporting scalable manufacturing.
Importantly, the company has already translated this work into intellectual property, with multiple patent filings supporting its growing quantum portfolio.
Beyond Quantum Computing
The fireside chat also highlighted that quantum computing is only one part of a much broader opportunity.
Both professors discussed the nearer-term commercial potential of quantum sensing, where stable quantum systems can be used to measure magnetic fields, temperature, materials, navigation and other environmental properties with extraordinary precision.
These applications are widely regarded across the industry as likely to reach commercial adoption well before universal quantum computers become a reality.
By pursuing both quantum computing and quantum sensing technologies, Delta Gold is positioning itself to participate across multiple high-growth segments of the emerging quantum economy.
A Long-Term Strategy Built on Scientific Foundations
Throughout the discussion, one theme remained consistent: scientific credibility.
Rather than making ambitious claims about near-term quantum supremacy, the speakers repeatedly emphasised the importance of building strong scientific foundations first.
The company outlined research programmes spanning three to six years, focused on developing robust quantum platforms, expanding its patent portfolio and strengthening collaborations with leading universities.
For investors, this measured approach may prove to be one of Delta Gold’s greatest strengths.
Instead of following the crowded paths already being explored by larger quantum companies, Delta Gold is developing proprietary technology based on original scientific research conducted by globally recognised experts.
As Mike Jones concluded, many companies may appear further ahead, but if today’s leading technologies ultimately prove difficult to commercialise, starting again with stronger scientific fundamentals could prove to be the smarter route.
With world-class academic partners, an expanding intellectual property portfolio and a differentiated approach centred on engineered gold nanoclusters, Delta Gold Technologies is steadily building the foundations for what could become an important player in the next generation of quantum innovation.
For more information visit – https://www.deltagoldtech.com/
