Author: Fiona Craig

Solid State plc (LSE:SOLI) has released its final results for the year ending 31 March 2025, revealing a 23.4% drop in revenue to £125.1 million alongside a 64.7% decrease in adjusted operating profit to £6.0 million. These declines were largely driven by the acceleration of revenues into the previous year and delays in a major defense contract.

Despite these setbacks, the company remains upbeat about its prospects for the coming year, supported by a robust order pipeline and ongoing strategic investments in acquisitions and infrastructure development. Recent contract wins include a $25 million order for communications equipment and a $5.1 million Internet of Things (IoT) deal, underscoring Solid State’s resilience and capacity to capitalize on long-term growth trends across key sectors.

Solid State continues to demonstrate solid financial health with consistent profitability, steady cash flow, and a strong balance sheet. While technical indicators advise cautious optimism, the company’s fair valuation and recent strategic moves position it well for sustainable growth. Overall, Solid State stands as a compelling option within the Hardware, Equipment & Parts sector.

About Solid State plc

Solid State plc is a prominent value-added electronics provider, delivering durable components, assemblies, and systems primarily for industrial and defense applications in demanding environments. Its offerings span ruggedized computing, battery power solutions, antennas, secure radio communications, imaging technology, and electronic components & displays. Operating through two divisions—Systems and Components—Solid State serves diverse industries including defense, aerospace, energy, environmental monitoring, oceanography, robotics, medical, life sciences, and transportation. Headquartered in Redditch, UK, the company employs over 400 staff across 14 sites worldwide.

Georgina Energy Plc (LSE:GEX) has taken a significant step forward in advancing its Mt Winter permit and well re-entry plans by submitting the required documentation to the Central Land Council for an Aboriginal Land Rights Act agreement. This milestone is critical for obtaining approval of the EPA155 priority area from the Northern Territory Minister for the Department of Mining and Energy. The company is also moving toward finalizing the acquisition of the Mt Winter tenement from Mosman Oil & Gas and intends to re-enter two additional wells within EPA155.

Recent seismic data reprocessing has expanded the prospective resource area, enhancing Georgina Energy’s potential to tap into the growing markets for hydrogen and helium.

Despite these strategic developments, the company continues to face significant financial challenges, including negative profitability and cash flow constraints. Technical indicators show a neutral momentum, but the current financial instability heavily influences the stock’s overall risk profile. Investors should consider these factors carefully given the elevated risk.

About Georgina Energy

Georgina Energy is focused on becoming a key player in the energy sector with an emphasis on helium and hydrogen production. The company holds two main onshore Australian assets through its subsidiary Westmarket O&G: the 100% owned Hussar Prospect in Western Australia and the EPA155 Mt Winter Prospect in the Northern Territory. Positioned to meet increasing demand for clean energy resources, Georgina Energy aims to leverage its strategic holdings for future growth.

Metals One PLC (LSE:MET1) has reached a settlement agreement with 80 Mile PLC, ending the proposed acquisition of the Hammaslahti and Outokumpu projects in Finland. This strategic decision allows Metals One to avoid further equity dilution and capital commitments, enabling the company to concentrate its efforts on key exploration projects in the United States.

Metals One will maintain its stake in the Black Schist Project in Finland while advancing its uranium and gold exploration activities in the U.S. Additionally, the company has issued new shares as part of the acquisition of the Uravan Uranium-Vanadium Project in Colorado and completed warrant exercises, resulting in an updated share capital structure.

About Metals One PLC

Metals One PLC is a minerals exploration and development firm focused on a diverse portfolio of critical and precious metals projects located in stable jurisdictions, including the USA, Finland, and Norway. The company’s commodity interests span gold, uranium, vanadium, copper, nickel, cobalt, zinc, and platinum group metals. Its flagship asset is the Black Schist Project in Finland, which contains a substantial nickel-copper-cobalt-zinc JORC Inferred Resource.

Celebrus Technologies plc (LSE:CLBS) has released its final results for the year ending 31 March 2025, reporting a 13.9% rise in annual recurring revenue to $18.8 million and total revenue reaching $38.7 million. Marking a significant strategic evolution, the company has fully transitioned to Celebrus Cloud as its core deployment platform, enhancing service reliability and scalability for its clients.

Amid challenging macroeconomic conditions, Celebrus secured major contracts including a global airline and a leading fintech firm, underscoring its strong market position. Continued investment in product innovation remains a priority to sustain competitive advantage. Looking ahead, Celebrus maintains an optimistic outlook with a growing sales pipeline and a clear focus on long-term value creation for shareholders.

About Celebrus Technologies plc

Celebrus Technologies is a global data solutions provider, operating across more than 30 countries and listed on the AIM Market of the London Stock Exchange. The company specializes in digital identity management and data capture technologies that improve marketing effectiveness and fraud prevention. Celebrus aims to deepen brand-consumer engagement by delivering seamless data capture solutions that ensure compliance and make digital data readily actionable.

MobilityOne Limited (LSE:MBO) has published its audited financial results for the year ended 31 December 2024, reporting a 4.74% year-on-year decline in revenue to £230.23 million and a post-tax loss of £3.45 million. The downturn was primarily driven by subdued demand in its core Malaysian market, along with rising administrative and marketing costs and losses linked to its associate company.

Despite the financial headwinds, MobilityOne is actively broadening its strategic focus. The company is expanding its international remittance services and making inroads into the health tech sector. A new joint venture aims to strengthen its e-products and services business, offering potential for long-term revenue diversification.

Further positive developments include the lifting of its AIM trading suspension and receiving regulatory clearance to operate in Brunei—both seen as catalysts for operational recovery and growth in the coming periods.

About MobilityOne Limited

MobilityOne is a provider of e-commerce infrastructure and digital payment solutions, offering services such as e-money, prepaid mobile top-ups, and international money transfers. With its core presence in Malaysia, the company is now expanding regionally into Brunei and entering the health technology market through its subsidiaries and affiliates.

NIOX Group plc (LSE:NIOX) has reported a strong first-half performance for 2025, posting a 20% year-on-year revenue increase, supported by notable growth across both its clinical and research segments. Adjusted EBITDA rose by 30%, reflecting the company’s effective cost management and operational efficiency, while the balance sheet remains resilient despite external pressures, including the recent withdrawal of a takeover bid from Keensight.

Research-related revenue exceeded internal projections, largely due to heightened clinical trial activity. However, the company acknowledged that future demand in this segment remains uncertain. NIOX continues to pursue its strategic objectives, including the commercial rollout of NIOX PRO® and deeper penetration into the US healthcare market—both expected to support continued growth.

Despite solid fundamentals, the company’s valuation and technical indicators suggest a need for cautious optimism, with some metrics hinting at potential overvaluation. Nonetheless, recent corporate developments reinforce confidence in NIOX’s strategic direction and long-term potential.

About NIOX Group plc

NIOX Group plc is a healthcare technology company focused on improving the diagnosis and management of respiratory conditions such as asthma and COPD. Its flagship product, used for fractional exhaled nitric oxide (FeNO) testing, is deployed in both clinical and research settings. With a growing international footprint, NIOX is particularly focused on expanding its market presence in the United States.

Springfield Properties PLC (LSE:SPR) has announced that its profit before tax for the fiscal year 2025 is expected to meet market forecasts, underpinned by a revenue increase to £280 million—driven largely by a surge in strategic land sales. The company has outperformed expectations in reducing its net debt and is targeting a net cash position by FY2027.

A key contributor to this performance was the sale of undeveloped land to Barratt Developments, allowing Springfield to sharpen its focus on high-growth regions in the North of Scotland. Anticipated demand in the area is being fueled by government-backed net-zero infrastructure initiatives. The company has made substantial progress in securing land options in these target regions, positioning itself to benefit from long-term housing demand linked to environmental and economic stimulus programs.

While Springfield exhibits strong technical indicators and attractive valuation metrics—further supported by confidence-inspiring corporate actions—challenges remain around margin pressures and top-line growth, which could weigh on future performance.

About Springfield Properties PLC

Springfield Properties is a prominent Scottish homebuilder specializing in both private and affordable housing. With a growing footprint in the North of Scotland, the company is aligning its strategy with opportunities arising from renewable energy development and major infrastructure investment, contributing to regional economic growth and sustainable housing solutions.

ANGLE plc (LSE:AGL) has announced a major scientific milestone with the publication of new research in Nature Genetics that leverages its Parsortix system to explore the genetic complexity of circulating tumor cell (CTC) clusters. Conducted by Professor Nicola Aceto’s team, the study reveals that CTC clusters play a pivotal role in cancer metastasis and therapy resistance, offering new insights into how tumors evolve and spread.

The findings highlight that CTC clusters are significantly more metastatic than single CTCs and serve as reservoirs of genetic diversity, potentially driving resistance to treatment. These insights reinforce the clinical value of targeting CTC clusters in cancer management, and demonstrate the advanced capabilities of ANGLE’s technology in supporting next-generation oncology research.

About ANGLE plc

ANGLE plc is a pioneer in liquid biopsy technologies, focusing on solutions based on circulating tumor cells for cancer research, drug development, and clinical diagnostics. Its flagship product, the Parsortix PC1 System—cleared by the FDA—is designed to capture and harvest CTCs from patient blood samples for detailed molecular analysis. Supported by more than 100 peer-reviewed studies, ANGLE is at the forefront of advancing precision oncology through non-invasive diagnostics and research tools.

International Public Partnerships Ltd (LSE:INPP) has raised approximately £49 million through the realisation of its interests in the Priority Schools Building Aggregator Programme and the Building Schools for the Future portfolio. This divestment aligns with the company’s ongoing strategy to extract value from mature infrastructure investments. Over the past two years, INPP has generated more than £315 million in proceeds from similar value realisation initiatives across multiple sectors.

Proceeds from the transaction will support capital return initiatives and strategic reinvestment, including a recently expanded share buyback programme. The move reinforces INPP’s disciplined capital allocation approach, focusing on careful debt management, long-term value creation, and measured reinvestment.

While INPP maintains a strong balance sheet and reliable cash flow, the company continues to face challenges around revenue growth and overall profitability. Its relatively high P/E ratio calls for cautious valuation, though the attractive dividend yield helps to offset investor concerns. Recent buyback activity reflects management’s confidence in long-term performance despite mixed financial indicators.

About International Public Partnerships Ltd

International Public Partnerships (INPP) is a publicly listed infrastructure investment firm focused on delivering long-term returns through investments in essential public assets. With a portfolio spanning over 140 projects globally—including in the UK, Europe, Australia, North America, and New Zealand—INPP supports infrastructure in sectors such as education, healthcare, energy, transport, and digital connectivity. The company’s investment adviser, Amber Infrastructure Group, is part of Boyd Watterson Global Asset Management Group LLC.

Bluebird Mining Ventures Ltd (LSE:BMV) has finalized an agreement for its gold project in the Philippines, granting the company a perpetual 10% share of project profits along with bonus payments tied to gold production milestones. This deal is expected to provide a long-term boost to Bluebird’s revenue potential.

In parallel, the company is advancing its unique strategy to convert future cash inflows into bitcoin, reflecting its broader goal of bridging traditional gold assets with digital finance. Bluebird is also preparing for the admission of additional shares to trading, which will expand its total number of ordinary shares in circulation.

About Bluebird Mining Ventures Ltd

Bluebird Mining Ventures is a gold-focused development company with operations across Asia. Active in resource development, the company is also pioneering a strategic shift that aims to integrate physical gold assets with digital currencies, including bitcoin, as part of its long-term growth and innovation agenda.