Author: Fiona Craig

Vertu Motors (LSE:VTU) expects its FY27 results to exceed current market expectations following strong trading during the first five months of the financial year and continued progress with its evolving dealership portfolio.

For the five months to 31 July 2026, the automotive retailer recorded like-for-like growth across revenue as well as new and used vehicle volumes. Its higher-margin aftersales operations also performed strongly, while disciplined cost management helped maintain stable gross margins.

Vertu continued to manage working capital carefully during the period, resulting in a modest reduction in net debt. The group has also maintained its share repurchase strategy, with buybacks having removed almost 22% of its share capital since 2018.

Alongside its improving trading performance, Vertu is accelerating the transformation of its dealership network to capture changing trends in the UK automotive market.

The group is expanding its representation of Chinese automotive manufacturers, including Omoda, Jaecoo, Leapmotor, BYD and MG. It is also adding Alpine, Renault and Dacia franchises as it broadens its brand portfolio and targets emerging areas of customer demand.

At the same time, Vertu is continuing to optimise its existing estate by closing or reconfiguring underperforming Mazda locations, helping improve the overall efficiency and quality of its dealership network.

Order intake remains robust ahead of the important September vehicle registration plate change, providing further confidence heading into a key trading period. The group also highlighted the potential support from the government’s consultation around the Zero Emission Vehicle Mandate as the automotive sector adapts to the transition towards electric vehicles.

Against this backdrop, the board now expects Vertu’s full-year FY27 performance to come in ahead of current market expectations, reflecting positive trading momentum, disciplined execution and the benefits of its increasingly diversified franchise portfolio.

More about Vertu Motors

Vertu Motors is one of the UK’s largest automotive retailers, operating 194 sales and aftersales outlets across the country.

Established in 2006, the group has pursued a strategy combining acquisitions with organic growth and operational efficiencies across its scaled dealership network.

Vertu represents a broad and increasingly diversified portfolio of automotive manufacturers, while providing new and used vehicle sales alongside servicing, maintenance and other aftersales activities.

The group’s strategy is centred on expanding its market position, optimising its dealership portfolio and delivering a high-quality customer motoring experience built around honesty and trust.

Macfarlane Group (LSE:MACF) reported higher first-half revenue for 2026 and announced a new £6 million share buyback programme as management focuses on restoring profit growth and maintaining shareholder returns.

Revenue for the six months ended 30 June increased 2% to £148.9 million, while adjusted operating profit eased 3% to £9.5 million. The decline in profitability partly reflected weaker performance from the Pitreavie business, where management is implementing measures aimed at delivering a recovery.

Packaging Distribution achieved organic profit growth and maintained stable margins despite a challenging economic environment and additional cost pressures associated with events in the Middle East. Manufacturing Operations also increased revenue during the period, although profit was lower.

Macfarlane ended the half with net bank debt of £17.9 million, with the increase partly reflecting a deliberate build-up of inventory designed to strengthen supply security and support customer service.

The board maintained the interim dividend at 0.96 pence per share. With the group’s existing £4 million share repurchase programme close to completion, Macfarlane has also approved a further £6 million buyback scheduled to begin in October 2026.

The additional capital return reflects the board’s confidence in the group’s prospects as management works to improve profitability. Macfarlane expects full-year trading to remain in line with market expectations, supported by new business wins, tighter cost management and an anticipated return to profitability at Pitreavie.

The group has also taken steps to reduce its longer-term financial exposure through its pension arrangements. Macfarlane completed a pension scheme buy-in with a £5.3 million surplus and is targeting a full buy-out within the next two years.

With continued organic progress in Packaging Distribution, new business momentum and measures underway to improve underperforming operations, Macfarlane remains focused on strengthening earnings while continuing to return capital to shareholders.

More about Macfarlane

Macfarlane Group PLC is a UK-based specialist in protective packaging, operating through its Packaging Distribution and Manufacturing Operations divisions.

Headquartered in Glasgow and listed on the London Stock Exchange, the group serves more than 20,000 predominantly UK and European customers through a network of 42 sites.

Macfarlane supplies protective packaging solutions across industries including logistics, electronics, defence, medical, automotive, aerospace, e-commerce and food. Its offering is focused on protecting high-value and fragile products while helping customers improve the efficiency and cost-effectiveness of their supply chains.

Headlam Group plc (LSE:HEAD) has completed the disposal of its Netherlands operations as part of its strategy to simplify the group and concentrate resources on its core UK floor coverings distribution business.

The transaction covers Headlam Holdings B.V., Headlam B.V. and Dersimo B.V., which have been sold to SIL 2025 Limited, a company managed by Rcapital Partners LLP.

The disposal follows Headlam’s strategic review and represents another step in the group’s withdrawal from non-core overseas activities. Following completion, Headlam’s operations will be focused entirely on the UK, allowing management to dedicate greater attention and resources to domestic customers, operational performance and its position in the British flooring market.

SIL 2025 Limited has agreed gross consideration of €850,000 for the Netherlands businesses. After transaction costs, Headlam expects to receive net proceeds of approximately €170,000, which will be used for general working capital purposes.

While the financial contribution from the sale is relatively modest, the transaction represents a meaningful strategic milestone for Headlam as it creates a more streamlined operating structure and concentrates investment on its principal market.

The disposal also provides greater clarity around the group’s future direction, with management now able to focus on improving efficiency, customer service and operational execution across its UK distribution network.

More about Headlam

Headlam Group plc is a leading UK distributor of floor coverings, supplying a broad range of residential and commercial flooring products to trade and retail customers.

The company operates an extensive distribution and logistics network designed to provide customers across the UK with access to flooring products and associated services.

Listed on the London Stock Exchange under the ticker HEAD, Headlam has been implementing a strategy to simplify its organisational structure, improve efficiency and concentrate resources on its core domestic business.

The disposal of its Netherlands operations completes an important element of that strategy, leaving Headlam focused on strengthening its position and pursuing opportunities within the UK floor coverings market.

Blencowe Resources (LSE:BRES) has reported further positive testing results for graphite from its Orom-Cross project in Uganda, highlighting its potential for use across advanced battery, energy storage and defence applications.

Testing undertaken with US specialists Apollo Energy Systems and American Energy Technologies demonstrated high purity, strong conductivity and flexibility across multiple applications, supporting Blencowe’s strategy of targeting higher-value markets for Orom-Cross graphite.

The partners are now developing a high-performance 4HN military battery prototype designed to meet US Defence Logistics Agency specifications. Plans also include establishing a US pilot production line with an initial target capacity of 100 cells per month.

A potentially significant opportunity has also emerged for material generated during Blencowe’s planned graphite beneficiation process. Spheroidisation rejects from the proposed Ugandan facility can be upgraded into high surface area graphite for use as a performance-enhancing battery additive.

Blencowe estimates this material could account for approximately 30% of the beneficiation plant’s output. Converting what would otherwise be a lower-value by-product into a specialised graphite product could improve overall plant utilisation while creating an additional higher-value revenue stream.

Testing has indicated that Orom-Cross graphite can improve dynamic charge acceptance, cycling performance and high-rate partial state-of-charge behaviour in advanced valve regulated lead-acid batteries.

These characteristics could open opportunities across several sizeable markets, including grid-scale energy storage, data centres, telecommunications infrastructure and off-grid power systems. The relevant battery sector consumes tens of thousands of tonnes of graphite annually, providing Blencowe with another potential route to market alongside its existing battery-material ambitions.

The latest results follow previous technical programmes in which Orom-Cross graphite achieved purity levels of 99.99% and delivered strong performance results. Together, the findings reinforce the project’s potential to supply graphite products for multiple next-generation battery and specialist industrial applications.

Blencowe is seeking to develop higher-value niche offtake opportunities while strengthening relationships with US industry partners. This approach could help differentiate Orom-Cross and increase the project’s exposure to Western graphite supply chains as it progresses towards first production.

More about Blencowe Resources Plc

Blencowe Resources Plc is a London-listed natural resources company focused on developing the Orom-Cross graphite project in Uganda.

The project is being advanced as a potential source of high-purity graphite for energy storage, defence and specialist industrial applications. Blencowe is also pursuing an uncoated spheronised purified graphite beneficiation facility in Uganda designed to produce several graphite products and by-products.

The company’s strategy centres on maximising the utilisation and value of Orom-Cross concentrate while targeting higher-value Western markets outside the established Chinese supply chain.

Independent technical programmes have demonstrated that Orom-Cross graphite can achieve ultra-high purity and perform strongly across advanced battery and defence-related applications, supporting Blencowe’s objective of establishing the project as a competitive next-generation graphite source.

Alien Metals (LSE:UFO) has reported encouraging exploration progress at the Elizabeth Hill Silver Project after joint venture partner West Coast Silver returned exceptionally high-grade diamond drilling results, including bonanza-grade silver intersections.

The latest drilling was completed using a new west-to-east orientation and has extended mineralisation beyond the boundaries of the project’s existing resource model. Results confirmed additional near-surface mineralisation as well as extensions hosted within granite, alongside high-grade silver intercepts within and beneath the current mineral resource estimate.

The findings provide further evidence of the exploration potential surrounding the established Elizabeth Hill deposit and are expected to contribute to an updated JORC 2012 mineral resource estimate targeted for the fourth quarter of 2026.

The resource update could potentially increase both the volume of defined mineralisation and the overall silver grades represented within the model, providing an important step in assessing the project’s longer-term development potential.

Additional diamond drilling is planned during the second half of 2026. The programme will seek to improve confidence in the resource by upgrading selected areas to Indicated status while providing greater definition of the project’s higher-grade silver zones.

Alien Metals retains significant exposure to further progress at Elizabeth Hill through its 30% free-carried joint venture interest as well as its shareholding in West Coast Silver. Continued exploration success therefore offers the company both direct project exposure and participation in the potential increase in value of its joint venture partner.

With further drilling and a resource update planned, the latest high-grade results provide positive momentum as the partners work to expand and improve the geological understanding of Elizabeth Hill.

More about Alien Metals Ltd

Alien Metals Ltd is an AIM-quoted minerals exploration and development company focused on precious and base metals opportunities in Australia.

Its portfolio includes the Georgina Basin IOCG Project in the Northern Territory and assets in Western Australia’s Pilbara region, including exposure to the Munni Munni PGM system and the Elizabeth Hill Silver Project.

At Elizabeth Hill, Alien holds a 30% free-carried joint venture interest as well as equity exposure to partner companies. Its wider strategy combines technical advancement and project development with joint ventures, selective transactions and acquisitions aimed at creating shareholder value.

Through its interests in West Coast Silver and GreenTech Metals, Alien maintains both direct exposure to exploration projects and equity participation in their potential future development.

Arrow Exploration Corp. (LSE:AXL) delivered a record second-quarter performance in 2026, supported by rising production from its Colombian operations, stronger realised oil prices and continued development activity across its portfolio.

Total oil and natural gas revenue, net of royalties, increased 116% year on year to $34.2 million, while average production advanced 30% to 4,902 barrels of oil equivalent per day.

The stronger operating performance translated into adjusted EBITDA of $25.1 million. Arrow also recorded net income of $10.4 million, reversing a loss in the corresponding period last year, while benefiting from improved operating netbacks and higher realised crude prices.

The company’s financial position remained robust at the end of the quarter, with cash of $28.5 million and no debt, providing additional flexibility to fund its ongoing exploration and development programme.

Operational growth was driven by additional volumes from Mateguafa Attic and the recently developed Icaco field on the Tapir block in Colombia. Arrow completed one exploration well and multiple development wells at Icaco during the period, alongside recompletion work at Carrizales Norte.

Activity has continued following the quarter end. Arrow expanded its Canadian portfolio through the acquisition of the Thorsby field in Alberta, adding another producing asset to its operations outside Colombia.

The company is also progressing discussions regarding an extension of the Tapir block licence. Further drilling and recompletion activity is planned as Arrow looks to build reserves, increase production and strengthen future cash generation.

With a debt-free balance sheet, growing production base and an active development programme, Arrow continues to pursue expansion across both Colombia and Canada as it seeks to maintain its growth momentum.

More about Arrow Exploration Corp.

Arrow Exploration Corp. is an oil and gas exploration and production company with a portfolio of hydrocarbon assets in Colombia and Canada.

Its Colombian operations include producing and development assets such as Mateguafa Attic and Icaco within the Tapir block, where the company continues to pursue exploration, development drilling and recompletion opportunities.

Arrow also maintains operations in Alberta, Canada, including its recently acquired Thorsby field. The company’s strategy is focused on expanding production, reserves and cash flow through disciplined development of its existing portfolio and selective acquisitions.

Thruvision Group plc (LSE:THRU) has secured its first contract with a Canadian government customer, extending the company’s international presence and marking its entry into Canada’s entrance security market.

The order was secured through a long-standing value-added reseller partner, supporting Thruvision’s strategy of working with regional specialists to expand its reach while providing customers with dedicated local sales and technical support.

Under the contract, Thruvision’s 8108 WalkTHRU solution will be deployed at a municipal building to screen visitors entering council chambers. The system combines the company’s SmartSCREEN and DynamicDETECT technologies in a flexible, battery-powered configuration.

The Canadian contract adds to a series of recent international orders for Thruvision’s security screening technology. The company has received further business from retail distribution customers across the UK, Europe and the US, alongside an order from a new European government customer.

These orders cover Thruvision’s WalkTHRU and SpotCHECK platforms and demonstrate increasing adoption of its technology across both government and commercial applications.

The growing geographical spread of customer demand provides further momentum for Thruvision as it develops its position in the international people-screening security market and expands adoption of its technology across new locations and applications.

More about Thruvision Group plc

Thruvision Group plc develops and manufactures walk-through security screening technology used by government and commercial organisations in more than 30 countries.

Its patented, AI-based systems are designed to identify concealed metallic and non-metallic objects in real time while allowing large numbers of people to be screened efficiently and safely.

Thruvision maintains offices and manufacturing operations in the UK and US, supporting customers across a growing range of international security and commercial markets.

Cadence Minerals (LSE:KDNC) has secured shareholder approval for all resolutions presented at its General Meeting, including a proposal to dis-apply pre-emption rights and provide the board with greater flexibility over future equity issuance.

The resolutions received substantial shareholder backing, giving Cadence the ability to issue new shares without first offering them to existing investors in proportion to their current holdings.

The additional flexibility could allow the company to respond more quickly to future funding requirements and investment opportunities, potentially making it easier to raise capital when attractive mining and natural resources projects become available.

For Cadence, the approval supports a strategy centred on identifying and financing opportunities across the resources sector. The ability to access equity capital more efficiently could prove valuable when competing for prospective investments or providing funding for projects already within its portfolio.

While issuing shares without pre-emption rights can result in dilution for existing investors, the expanded authority provides management with greater financial flexibility as it evaluates opportunities and seeks to generate long-term shareholder value.

Following the General Meeting, Cadence can now move forward with the approved authorities as it continues to assess potential investments and financing requirements across its mineral resources portfolio.

More about Cadence Minerals

Cadence Minerals Plc is a UK-listed mining investment company focused on identifying, acquiring and developing opportunities across the mineral resources sector.

Listed on AIM under the ticker KDNC, the company participates in mining projects at different stages of development and seeks to create shareholder value through strategic investments, project advancement and financing initiatives within the natural resources industry.

Predator Oil & Gas Holdings Plc (LSE:PRD) generated net petroleum revenue of £1.52 million from its Trinidad operations during the first half of 2026, as the company continued to strengthen production while advancing upcoming drilling programmes in Trinidad and Morocco.

The group sold 52,130 barrels of oil during the period from its Icacos, Bonasse, Goudron and Inniss-Trinity fields. Predator has continued investing in infrastructure across the portfolio, with a successful workover of the GY 664 well at Goudron contributing steady production of approximately 30 to 32 barrels of oil per day during August.

Further operational progress is being made ahead of the company’s next drilling activities. In Trinidad, civil engineering work for the Snowcap-3 well pad and associated production facilities is progressing according to schedule.

Preparations have also advanced in Morocco, where construction of the MOU-6 well pad has been completed. Critical perforating explosives have arrived, removing an important long-lead requirement ahead of rig mobilisation and planned well testing.

Predator has also strengthened its capital position during 2026. Two share issues completed during the year have been admitted to trading on the London Stock Exchange’s Main Market, taking the company’s total number of ordinary shares in issue to 900,572,100.

Management said its balance sheet and funding strategy have enabled Predator to preserve its original project equity and retain operatorship while progressing assets through the higher-risk stages of development. This approach is intended to give the company greater flexibility when negotiating future commercial agreements.

Chief executive Paul Griffiths said successful testing and hydrocarbon flow from upcoming wells would provide the catalyst for completing commercial agreements and securing development financing, supported by potentially attractive revenue forecasts.

The company believes its lean operating structure, combined with significant upside across assets under its control, could strengthen its negotiating position as projects progress towards monetisation.

In Morocco, Predator continues to view shallow gas as offering a potentially rapid route to commercialisation through compressed natural gas or micro-LNG developments. Nearby infrastructure and favourable domestic gas pricing provide additional support for its development strategy.

In Trinidad, the group is targeting higher margins and longer-term production growth through tax efficiencies, outsourced field operations and scalable production enhancement opportunities across its mature oil assets.

More about Predator Oil & Gas Holdings Plc

Predator Oil & Gas Holdings Plc is a Jersey-based oil and gas company with producing and exploration assets focused primarily on Trinidad and Morocco.

Its Moroccan portfolio targets shallow biogenic gas discoveries with potential development through CNG or micro-LNG solutions. The company’s acreage also benefits from proximity to existing gas infrastructure and favourable local gas pricing, supporting opportunities for scalable commercial development.

In Trinidad, Predator operates mature onshore oil fields where its strategy combines production enhancement, workovers and potential infill drilling. The company also benefits from legacy tax losses, outsourced field services and a Master Services Agreement with NABI Construction, helping it maintain a relatively lean operating structure.

Predator Oil & Gas Holdings Plc is listed on the Main Market of the London Stock Exchange in the Equity Shares (transition) category under the symbol PRD. The group maintains a strategy centred on financial discipline, operational control and retaining meaningful project equity as its portfolio progresses towards development and commercialisation.