ADVFN UK Market News

Author: Fiona Craig

  • Everyman Media Reports 23.5% Rise in H1 Revenue and Returns to Profit

    Everyman Media Reports 23.5% Rise in H1 Revenue and Returns to Profit

    Everyman Media Group (LSE:EMAN) reported revenue of £69.8 million for the first half of 2026, an increase of 23.5% compared with the prior-year period.

    Admissions increased 20.5% to 2.6 million, while the company’s share of the UK box office rose to 6.4%.

    Adjusted EBITDA after IFRS 16 increased 32% to £10.8 million. Everyman also reported a statutory profit before tax of £1.9 million, compared with a loss in the corresponding period.

    Net Bank Debt Falls to £17.4 Million

    Everyman reported net bank debt of £17.4 million at the end of the period.

    The company attributed its first-half performance in part to the film release schedule and an increase in membership.

    Everyman is continuing to plan additional venues, with new locations scheduled to begin opening from 2027. The company intends to fund these developments from free cash flow.

    Investment Continues Across Technology and Customer Operations

    The group is investing in technology, customer relationship management systems and staff training, alongside developing additional commercial partnerships.

    These initiatives form part of Everyman’s strategy for its cinema estate, including its approach to pricing and customer spending per visit.

    Full-Year Performance Expected Slightly Ahead of 2025

    Management said it remains mindful of the economic environment and the importance of fourth-quarter trading to the full-year result.

    Based on current expectations, Everyman anticipates that its full-year 2026 performance will be slightly ahead of 2025.

    This remains management guidance and is dependent on trading during the remainder of the financial year.

    Everyman Media Operations

    Everyman Media Group is a UK cinema operator offering film screenings alongside food and beverage services.

    The company operates venues across the UK and positions its cinemas around a hospitality-led model combining film programming with in-house food and drink.

  • M&G Publishes 2026 Interim Report and Declares 6.8p Dividend

    M&G Publishes 2026 Interim Report and Declares 6.8p Dividend

    M&G plc (LSE:MNG) has published its Interim Financial Report and interim results covering the six months ended 30 June 2026.

    The company said the full report has been made available through its website and the UK regulator’s National Storage Mechanism.

    The document contains M&G’s financial statements and associated disclosures for the first half of 2026.

    Interim Dividend Set at 6.8 Pence Per Share

    Alongside the publication of its interim report, M&G’s board declared an interim dividend of 6.8 pence per share for the six-month period.

    The dividend is scheduled to be paid on 16 October 2026.

    No additional conclusions regarding the company’s capital position or future dividend policy were provided in the supplied information.

    M&G Operations

    M&G plc is a UK-based savings and investment business providing asset management and retail investment products to individual and institutional clients.

    The group’s activities include long-term savings, investment and retirement products, alongside asset management and insurance-related investment operations.

  • IQE Signs Quantum Dot Laser Epiwafer Supply Agreement With Quintessent

    IQE Signs Quantum Dot Laser Epiwafer Supply Agreement With Quintessent

    IQE plc (LSE:IQE) has signed a purchase agreement with Quintessent Inc. to supply Quantum Dot Laser epitaxy on 6-inch gallium arsenide wafers.

    The agreement extends an existing collaboration between the companies focused on Quantum Dot Laser technology for optical interconnect applications, including infrastructure used in AI data centres.

    Under the agreement, IQE will provide foundry-ready epiwafers to support Quintessent’s customer sampling phase as it progresses its Quantum Dot Laser technology towards potential commercial deployment.

    Agreement Extends Decade-Long Collaboration

    IQE and Quintessent have worked together for approximately a decade on the development of Quantum Dot Laser technology, including efforts to transition the technology from research towards larger-scale manufacturing.

    The companies previously worked to establish a supply chain for Quantum Dot Laser epitaxial wafers.

    The latest purchase agreement moves the collaboration into customer sampling, although no timetable for commercial deployment or financial value for the agreement was provided in the supplied information.

    Technology Targets Optical Interconnect Applications

    Quintessent is developing Quantum Dot Laser technology for optical connectivity applications, including AI data centres.

    According to the companies, the technology is intended to reduce power consumption and manufacturing complexity while improving reliability. These remain stated characteristics of the technology rather than independently established outcomes in the supplied information.

    IQE’s role under the agreement is focused on supplying the compound semiconductor epitaxial material required for Quintessent’s customer sampling activities.

    IQE and Quintessent Operations

    IQE plc is a Cardiff-based, AIM-listed manufacturer of compound semiconductor wafers and materials, with epitaxy manufacturing operations in the UK, US and Taiwan.

    Its products are used in applications including connected devices, communications infrastructure, automotive and industrial systems, and aerospace and security.

    Quintessent Inc., based in Santa Barbara, California, develops optical connectivity technology for AI data centres. Its activities cover optical components and integrated connectivity products intended for data-centre infrastructure.

  • Crest Nicholson Lowers Year-End Net Debt Forecast and Expects FY26 EBIT Loss

    Crest Nicholson Lowers Year-End Net Debt Forecast and Expects FY26 EBIT Loss

    Crest Nicholson (LSE:CRST) has lowered its forecast for year-end net debt following progress with its cash optimisation programme, while updating its expectations for full-year operating performance amid lower housing demand.

    The housebuilder now expects year-end net debt of between £70 million and £90 million, compared with previous guidance of £100 million to £120 million.

    The revised forecast reflects factors including a third-party recovery relating to fire remediation and additional land disposals. The company also cited cost controls and operational measures as part of its balance-sheet management programme.

    FY26 EBIT Loss of Around £10 Million Expected

    Crest Nicholson said trading during the summer was subdued, with affordability pressures and price competition affecting demand and margins. The company identified bulk sales as an area experiencing particularly high price competition.

    As a result, the group has reduced its guidance for full-year home completions.

    Crest Nicholson now expects to report an EBIT loss of approximately £10 million for FY26, compared with its previous expectation of an EBIT profit.

    Discussions With Lenders Continue

    The company said it remains in discussions with its lenders regarding amendments to its financial covenants and appropriate funding arrangements.

    Those discussions are ongoing, and no completed agreement with lenders was included in the supplied information.

    New House Types Planned From FY27

    Crest Nicholson is also progressing plans to introduce new house types from FY27 as part of its strategy to increase its focus on the mid-premium segment of the residential market.

    The company expects the changes to support build efficiency, its customer offering and margins over time. These outcomes remain management expectations and will depend in part on future market conditions.

    Crest Nicholson Operations

    Crest Nicholson Holdings is a UK housebuilder focused on residential development.

    Its current strategy includes managing land and work-in-progress, controlling costs and developing a more consistent range of housing products as it increases its focus on the mid-premium segment of the market.

  • EnQuest Reports 9% Rise in H1 Production and Advances Malaysian Acquisition

    EnQuest Reports 9% Rise in H1 Production and Advances Malaysian Acquisition

    EnQuest (LSE:ENQ) reported a 9% increase in production during the first half of 2026 as the company progressed plans to acquire interests in four production sharing contracts in Malaysia.

    First-half production averaged 41,544 barrels of oil equivalent per day (Boepd). EnQuest also reported an increase in adjusted free cash flow during the period.

    The company said performance was affected by a third-party outage at the Magnus field, which delayed a cargo and temporarily increased unit operating expenditure.

    Malaysian Acquisition Expected to Increase Group Production

    EnQuest is progressing the acquisition of interests in four Malaysian production sharing contracts, with completion expected around the end of 2026 and an effective date in early 2027.

    According to the company, completion of the transaction is expected to increase group production to approximately 100,000 Boepd, increase reserves and reduce unit operating costs.

    These figures represent EnQuest’s expectations for the enlarged business following completion of the transaction.

    EnQuest Updates Capital Structure and Liquidity

    During the first half, EnQuest settled contingent consideration associated with Magnus, increased capacity under its reserve-based lending arrangements and refinanced its high-yield bonds.

    The company reported leverage of approximately 1.0 times and liquidity exceeding $750 million.

    EnQuest also maintains a hedging programme covering part of its commodity-price exposure.

    2026 Production Guidance Narrowed

    EnQuest narrowed its full-year 2026 production guidance to between 41,000 and 43,000 Boepd.

    The company left its spending plans unchanged, including planned operating, capital and abandonment expenditure.

    EnQuest is also conducting a group-wide investment review covering its resource portfolio and continues to evaluate potential acquisitions in the UK North Sea and South East Asia. No additional acquisitions have been presented as completed in the supplied information.

    EnQuest Discusses UK North Sea Fiscal Framework

    Management said it continues to advocate for changes to the UK fiscal framework governing North Sea investment.

    The company said it considers a competitive and stable fiscal regime important for attracting investment, supporting employment and maintaining production in the basin. These statements represent EnQuest’s position on UK energy policy.

    EnQuest Operations

    EnQuest PLC is an independent oil and gas producer with upstream operations focused on the UK North Sea and South East Asia, including Malaysia and Vietnam.

    Its strategy combines investment in existing assets with acquisitions and includes the management of mature offshore fields. EnQuest also has a strategic relationship with PETRONAS Carigali in Malaysia.

    The group uses reserve-based lending facilities, bonds and commodity hedging as part of its financing and risk-management arrangements.

  • Kazera Global Settles Fujax Dispute and Considers Equity Fundraising

    Kazera Global Settles Fujax Dispute and Considers Equity Fundraising

    Kazera Global (LSE:KZG) has reached a full and final settlement with Fujax South Africa concerning disputed prepayment arrangements associated with its Whale Head Minerals subsidiary.

    Under the settlement, the liability has been reduced from approximately US$1.32 million to US$1.0 million.

    The agreed consideration comprises US$500,000 to be settled through the issue of new Kazera shares and a further US$500,000 through staged cash payments.

    Settlement Addresses Whale Head Minerals Liability

    The agreement resolves the disputed prepayment arrangements between Kazera and Fujax South Africa.

    The settlement comes as Whale Head Minerals progresses its operations following the granting of a Mining Right covering Sea Concession 2A.

    No further financial terms relating to the settlement were included in the supplied information.

    Board Considers Fundraising of at Least £500,000

    Separately, Kazera’s board is considering an equity fundraising of at least £500,000.

    The company said potential proceeds would be used to support its balance sheet and provide financial flexibility for its existing portfolio and possible new investments in critical minerals.

    The size and terms of any fundraising have not yet been determined.

    Trading Suspended During Capital Access Window

    Kazera has entered a Capital Access Window under updated AIM rules while it assesses investor demand for the potential equity issue.

    Trading in the company’s shares has been temporarily suspended during this process.

    Kazera said trading is expected to resume after it announces the outcome of the potential fundraising. The fundraising remains under consideration and has not been presented as completed.

    Kazera Global Operations

    Kazera Global plc is an AIM-listed commodity investment company with interests in South Africa.

    Its portfolio includes Whale Head Minerals, which is focused on heavy mineral sands, and Deep Blue Minerals, a diamond operation in the Northern Cape.

    The company is also evaluating potential investments in critical mineral assets.

  • Jet2 Reports Higher Summer 2026 Bookings and Plans Main Market Move

    Jet2 Reports Higher Summer 2026 Bookings and Plans Main Market Move

    Jet2 plc (LSE:JET2) reported continued demand for its leisure travel products, with Summer 2026 seat capacity increasing 7.6% year on year to 19.9 million seats.

    Booked passengers for the summer season were 8.8% higher than a year earlier, while the average load factor increased by 1.5 percentage points.

    The company also provided an update on its London Gatwick operation and announced plans to transfer its ordinary shares from AIM to the Main Market of the London Stock Exchange.

    Gatwick Fleet to Increase to Seven Aircraft

    Jet2 said its London Gatwick operation has performed ahead of its initial expectations.

    As a result, the company plans to increase the number of aircraft operating from Gatwick to seven for Summer 2027.

    For Winter 2026/27, Jet2 plans to increase seat capacity by 8% compared with the previous winter season.

    The group said it has hedging arrangements in place covering fuel and foreign exchange exposure.

    Jet2 Plans Transfer From AIM to Main Market

    Jet2 intends to transfer the admission of its entire ordinary share capital from AIM to the Main Market of the London Stock Exchange.

    The company is targeting completion of the transfer before the end of its current financial year.

    The board said the proposed move reflects the scale of the group and its growth since joining AIM. According to Jet2, Main Market admission is also expected to increase the company’s visibility among UK and international institutional investors.

    The transfer has not yet been completed.

    Jet2 Operations

    Jet2 plc is a UK-based leisure travel group comprising package holiday business Jet2holidays and airline Jet2.com.

    The group operates from 14 UK airport bases. According to the company, more than 63% of passengers flown purchase end-to-end package holidays.

    Jet2 said its operations place more than 90% of the UK population within a 90-minute drive of one of its airport bases. The company reported compound annual revenue growth of 19% over the past decade and customer satisfaction levels above 90%.

  • Strategic Minerals Agrees Sale of Leigh Creek Copper Mine to Cuprum Metals

    Strategic Minerals Agrees Sale of Leigh Creek Copper Mine to Cuprum Metals

    Strategic Minerals (LSE:SML) has agreed final terms for the sale of its Leigh Creek Copper Mine in South Australia to South Pacific Mineral Investments, which trades as Cuprum Metals.

    The transaction includes a combination of cash, shares, royalties and potential earn-out payments. Completion remains subject to approval from Australia’s Foreign Investment Review Board.

    Under the agreed terms, Strategic Minerals is due to receive A$750,000 in upfront cash alongside share consideration targeting a value of A$3.0 million.

    Sale Includes Royalty and Earn-Out Payments

    In addition to the upfront consideration, Strategic Minerals will retain a 2% net smelter royalty relating to Leigh Creek.

    The agreement also provides for potential earn-out payments linked to future operating cash flows from the project. The amount ultimately received under these arrangements will therefore depend on future project performance.

    The transaction will give Cuprum Metals control of Leigh Creek and responsibility for progressing its plans for recommissioning the project.

    Proceeds to Be Directed to Redmoor Project

    Strategic Minerals said proceeds received from the Leigh Creek transaction will be directed towards development of its Redmoor tungsten-tin-copper project in Cornwall.

    The structure of the sale allows Strategic Minerals to retain potential economic exposure to Leigh Creek through the net smelter royalty and earn-out arrangements after transferring ownership of the asset.

    The company described the transaction as non-dilutive for its shareholders.

    Strategic Minerals Operations

    Strategic Minerals plc is an AIM-quoted mineral exploration and production company with assets in the UK and US, alongside its interest in Leigh Creek in Australia pending completion of the sale.

    Its portfolio includes the Redmoor tungsten-tin-copper project in Cornwall, held through Cornwall Resources Limited, and the Cobre magnetite operation in New Mexico.

    Redmoor is located in Cornwall’s Tamar Valley Mining District and has a JORC-compliant inferred mineral resource of 17.40 million tonnes containing tungsten, tin, copper and silver mineralisation.

    Strategic Minerals acquired the Leigh Creek Copper Mine in 2018. The proposed transfer to Cuprum Metals remains conditional on the required Australian regulatory approval.

  • Journeo Secures £1.3 Million of Elizabeth Line Display Upgrade Orders

    Journeo Secures £1.3 Million of Elizabeth Line Display Upgrade Orders

    Journeo (LSE:JNEO) said its subsidiary Infotec has received initial purchase orders worth £1.3 million from GTS Rail Operations for passenger information system upgrades across London’s Elizabeth line.

    The orders cover upgrades to existing systems and the supply of new passenger information displays at Elizabeth line stations.

    Infotec will provide on-platform screens and large-format summary displays, alongside management of passenger information data on legacy equipment across 25 stations.

    Orders Form First Part of £2.55 Million Programme

    The £1.3 million of purchase orders represents the first tranche of a wider programme valued at £2.55 million.

    Journeo said the remaining work is subject to final contract, meaning the full £2.55 million programme has not yet been secured.

    The initial orders include the deployment of TFT and fine-pitch RGB LED display technology, as well as continued integration with existing station equipment.

    Passenger Information Systems to Combine New and Existing Equipment

    The project will use new display hardware alongside a content management system designed around open standards.

    According to Journeo, the approach enables new passenger information technology to operate alongside legacy systems rather than requiring all existing equipment to be replaced.

    The company said the new displays have been designed for lower power consumption and longer operating life.

    Journeo Operations

    Journeo plc is a UK-based intelligent systems provider serving transport networks and critical national infrastructure.

    The group provides passenger information, CCTV, telematics and security systems across public transport, airports, towns and cities. Its operations cover integrated services, information systems and infrastructure protection, including the integration of new and legacy technologies.

  • Rockfire Resources Restarts Drilling at Molaoi Zinc Project in Greece

    Rockfire Resources Restarts Drilling at Molaoi Zinc Project in Greece

    Rockfire Resources (LSE:ROCK) has restarted diamond drilling at its 100%-owned Molaoi zinc project in Greece following a scheduled summer break.

    Diamond drill hole HMO-021 is currently in progress as the company continues its exploration programme at the deposit.

    Rockfire is also recruiting drillers and drilling assistants for its Greek subsidiary, Hellenic Minerals S.A. The recruitment is intended to provide additional in-house drilling capacity for work planned later in the year.

    Preliminary Comminution Testing Completed

    Rockfire has also reported preliminary results from comminution testing undertaken by SLR Consulting on material from Molaoi.

    The tests classified the material as medium-hard and found that its energy requirement falls within the range typically encountered in mining projects, according to the company.

    The results are being used as part of Rockfire’s assessment of processing options for the project.

    SAG Milling Under Consideration

    Based on the preliminary test results, Rockfire is considering the potential use of semi-autogenous grinding, or SAG milling, rather than conventional ball milling.

    The company is evaluating this option as part of its processing flowsheet design and feasibility work for Molaoi. No final processing configuration has been confirmed in the supplied information.

    Rockfire Resources Operations

    Rockfire Resources is a London-listed exploration company with projects targeting gold, base metals and critical minerals.

    Its portfolio includes the Molaoi zinc-lead-silver-germanium deposit in Greece, which is wholly owned by the company, as well as gold, copper and silver projects in Queensland, Australia. Some of its Australian projects are subject to farm-out arrangements with ASX-listed partners.