ADVFN UK Market News

Category: Market News

  • Amgen and AstraZeneca report survival improvement in lung cancer trial

    Amgen and AstraZeneca report survival improvement in lung cancer trial

    Amgen Inc. (NASDAQ:AMGN) and AstraZeneca PLC (LSE:AZN) reported results from a late-stage clinical trial evaluating a combination of Amgen’s Imdelltra and AstraZeneca’s Imfinzi as a maintenance treatment for extensive-stage small-cell lung cancer.

    The trial compared Imdelltra plus Imfinzi with Imfinzi alone in patients whose disease had not progressed following standard initial therapy.

    According to the companies, the combination demonstrated improvements in overall survival, progression-free survival and response rate compared with Imfinzi alone. They also said no new safety concerns were identified during the trial.

    Imdelltra received accelerated approval from the U.S. Food and Drug Administration in 2024 for extensive-stage small-cell lung cancer, followed by traditional approval in 2025.

    The treatment generated $513 million in sales for Amgen last year. Cancer treatments account for approximately 23% of the company’s total revenue.

    Imdelltra is part of Amgen’s portfolio of bispecific antibodies. These treatments are designed to connect cancer cells with immune cells, allowing the immune system to target the cancer cells.

  • Goodwin in advanced talks to sell engineering businesses for up to £1.1 billion

    Goodwin in advanced talks to sell engineering businesses for up to £1.1 billion

    Goodwin PLC (LSE:GDWN) said it is in advanced discussions over the potential sale of a substantial part of its Mechanical Engineering division for headline cash consideration of up to approximately £1.1 billion.

    The proposed transaction would involve Goodwin Steel Castings, Goodwin International, Noreva, Easat Group and Pumps. The potential buyer is funds advised by Cerberus Capital Management, L.P.

    The headline cash consideration would be subject to customary closing adjustments.

    Goodwin described Cerberus as an investor with relevant industry experience. The company has not confirmed that an agreement will be reached or that a transaction will ultimately be completed.

    Goodwin first confirmed a strategic review on August 7 following press speculation. At the time, the company said the review was examining options to maximise shareholder value while maintaining continuity for customers and other stakeholders.

    Rothschild & Co is advising Goodwin’s board on the strategic review.

    Goodwin shares rose on Wednesday following the announcement of the advanced discussions.

  • Aberdeen Group appoints Torbjörn Magnusson as chair-designate

    Aberdeen Group appoints Torbjörn Magnusson as chair-designate

    Aberdeen Group plc (LSE:ABDN) has appointed Torbjörn Magnusson to its board as a non-executive director and chair-designate, with his appointment as chair subject to regulatory approvals.

    Magnusson is expected to succeed Jonathan Asquith, who has been serving as interim chair and will remain in the position until Magnusson’s appointment becomes effective.

    The appointment follows Aberdeen’s announcement last year that Sir Douglas Flint would step down as chair by the company’s 2026 annual general meeting.

    “We are delighted to have Torbjörn joining the Board as Non-Executive Director and Chair-designate,” Asquith said. “He is a highly regarded and versatile international business leader who brings more than 30 years of leadership experience spanning a breadth of CEO, Non-Executive Director, and Chair roles across large financial services businesses.”

    Magnusson was chair of Nordea Bank Abp from 2019 to 2022 and deputy chair from 2022 to 2023. He also served as chief executive officer and president of Sampo for almost six years until 2025, during which time the company completed its £1.7 billion acquisition of Hastings.

    He previously served as president and CEO of If P&C Insurance between 2002 and 2019 and as its chair from 2019 to 2025. Magnusson is currently a non-executive director of Canopius Group and recently stepped down as a non-executive director of Hastings Group.

    “Aberdeen has transformed its performance materially over the last few years, building the foundations for long-term value creation,” Magnusson said. “I am very much looking forward to working with the Board, and with Jason and his management team, to help the company continue that progress and achieve its ambitions.”

    Magnusson will receive an annual fee of £475,000.

  • Nexteq H1 revenue falls 34% as gaming volumes decline

    Nexteq H1 revenue falls 34% as gaming volumes decline

    Nexteq (LSE:NXQ) reported revenue of $26.7 million for the first half of 2026, a decline of 34% year-on-year, as lower demand from major gaming customers affected trading.

    The technology solutions provider recorded an adjusted pretax loss of $4.0 million and a statutory pretax loss of $4.7 million. Adjusted loss per share was $0.08, while statutory loss per share was $0.09.

    Gross margin declined to 30.3%, with Nexteq citing higher component costs, the annualisation of Everi’s consolidation and increased component pricing. Performance from Densitron provided a partial offset.

    The company said lower volumes from major gaming customers reflected higher product costs and tariffs. Nexteq implemented restructuring and other cost-saving measures during the first half, which it said generated annual overhead savings of $1.3 million.

    Nexteq returned $5.7 million to shareholders through share buyback programmes during the period.

    The company maintained its full-year 2026 trading guidance, with order coverage standing at 83% at the end of August. Management expects challenging conditions in the land-based gaming market to continue through 2026 and 2027.

    Nexteq also expects its cash balance to improve during the second half, supported by the unwind of a Taiwan mortgage and a property sale.

  • WAG Payment Solutions raises 2026 cash EBITDA guidance

    WAG Payment Solutions raises 2026 cash EBITDA guidance

    WAG Payment Solutions (LSE:EWG) raised its full-year 2026 adjusted cash EBITDA guidance to between €110 million and €115 million, narrowing its previous range of €105 million to €115 million.

    The payment solutions provider reported first-half net revenue of €179.5 million, an increase of 10.7% year-on-year, while adjusted EBITDA rose 10.5% to €70.6 million. The adjusted EBITDA margin was 39.3%.

    Pretax profit for the period was €8.4 million. Basic earnings per share declined compared with the prior-year period, which the company attributed primarily to higher finance expenses and foreign exchange losses.

    Following the end of the reporting period, WAG Payment Solutions paid a special dividend of 1.5 pence per share, representing a total payment of €12.1 million.

    For the full year, the company continues to expect low double-digit net revenue growth and an adjusted EBITDA margin of approximately 40%. It also expects net leverage to be below 2.0 times.

    Revenue growth during the first half was supported by the expansion of toll services and payment solutions. The number of active trucks increased 7% year-on-year.

    WAG Payment Solutions said the migration and integration of customers onto its Eurowag Office platform contributed to increased customer engagement and use of its services.

  • Anpario H1 revenue rises 7% as adjusted EBITDA increases 22%

    Anpario H1 revenue rises 7% as adjusted EBITDA increases 22%

    Anpario (LSE:ANP) reported revenue of £24.3 million for the six months ended 30 June 2026, an increase of 7% from the prior-year period, while adjusted EBITDA rose 22% to £5.0 million.

    Profit before tax increased 11%, and the animal feed additives manufacturer raised its interim dividend. The company attributed the earnings performance in part to pricing and lower underlying administrative costs.

    Sales from Anpario’s key brands, which account for almost 80% of group revenue, increased 17% and reached a record level during the period.

    Regional growth was led by India, the Middle East and Africa, alongside the Americas, which is now Anpario’s largest market. The company said its acquisition of Bio-Vet and the integration of the commercial teams contributed to sales growth in the United States and provided additional opportunities to sell products across the combined customer base.

    Revenue in Asia declined 9%, primarily reflecting lower demand for mycotoxin binder products. Anpario attributed the decrease to economic conditions in the region and the impact of the Iran conflict.

    The company continues to increase its focus on higher-value feed additives and plans to rebrand Bio-Vet under the Anpario name.

    More about Anpario

    Anpario plc is a UK-listed manufacturer of animal feed additives focused on animal health, nutrition and biosecurity.

    Its product portfolio includes Orego-Stim, Optomega, pHorce, Mastercube and the Bio-Vet range. The company sells through direct operations and distribution channels across markets including the Americas, India, the Middle East, Africa and Asia.

    Anpario’s acquisition of Bio-Vet expanded its activities in ruminant nutrition, including in the United States.

  • Victrex raises FY26 profit guidance to £45 million-£47 million

    Victrex raises FY26 profit guidance to £45 million-£47 million

    Victrex (LSE:VCT) has raised its full-year 2026 underlying profit before tax guidance to between £45 million and £47 million, from its previous range of £42 million to £44 million, following improved trading into the fourth quarter.

    The high-performance polymers group reported year-on-year revenue growth across aerospace, value-added resellers and electronics, with the company highlighting demand in the Asia-Pacific region.

    Victrex said its previously announced 10% reduction in headcount has been completed and is contributing to profit performance.

    The company has also appointed Chris Gilbert as interim chief financial officer. Victrex said Gilbert has experience in finance transformation.

    Separately, Victrex has completed the disposal of its US-based Kleiss Gears business. The transaction will result in an exceptional loss of approximately £3 million.

    The company said the disposal follows its work to develop the market for PEEK gears and forms part of a strategy to focus resources on its core polymer operations.

    Victrex is scheduled to hold a capital markets event later this month.

    More about Victrex

    Victrex plc is a UK-listed manufacturer of high-performance polymer materials and products.

    The company supplies polymers, semi-finished products and finished components for markets including automotive, aerospace, energy and industrial, electronics and medical applications.

    Victrex has more than 40 years of experience in high-performance polymers and operates across multiple international markets.

  • Pebble Beach Systems H1 revenue rises 10% as recurring revenue increases

    Pebble Beach Systems H1 revenue rises 10% as recurring revenue increases

    Pebble Beach Systems (LSE:PEB) reported revenue of £6.5 million for the six months ended 30 June 2026, an increase of 10% from the prior-year period, while adjusted EBITDA rose 25% to £2.5 million.

    The broadcast and streaming software provider reported a 260% increase in statutory profit before tax to £1.8 million.

    Project revenue increased 19% to £3.1 million, while recurring support and maintenance revenue rose 6% to £3.4 million. Annualised recurring revenue increased 20% to £8.1 million, supported by service-level agreement renewals, contract expansions and new customers.

    Net debt excluding leases declined 76% to £0.8 million during the period. Management expects the company to move into a net cash position by the end of 2026.

    Pebble added four major customers during the first half, including streaming businesses in the US and Romania and Tier 1 broadcasters in Singapore and Australia. It also secured a contract in the Middle East and completed installations for broadcasters in North America, Dubai and Europe.

    The company reported £6.3 million of new orders and said it continued to invest in employees and technology during the period.

    Pebble said second-half margins are expected to normalise as higher-margin software licence sales are anticipated to account for a smaller proportion of the revenue mix.

    The company also plans to update its capital allocation policy in the new financial year.

    More about Pebble Beach Systems

    Pebble Beach Systems Group, trading as Pebble, provides software for broadcast and streaming operations.

    Its products include playout automation and integrated channel technology and are used to control more than 1,000 channels for broadcasters across more than 60 countries.

    The company’s revenue includes software projects alongside recurring support and maintenance income generated through service-level agreements.

  • Carclo maintains full-year guidance as aerospace supports Speciality growth

    Carclo maintains full-year guidance as aerospace supports Speciality growth

    Carclo (LSE:CAR) has maintained its full-year expectations, reporting underlying operating profit and return on sales in line with its forecasts despite slightly lower year-to-date revenue.

    The precision engineering group said the revenue performance reflected the phasing of tooling programmes and a slower first quarter for its U.S. Manufacturing Solutions business. Volumes increased during the second quarter, particularly within Manufacturing Solutions.

    In EMEA, Manufacturing Solutions continued to report revenue growth and margins from its automated, high-volume operations. Carclo said some life sciences diagnostics customers were experiencing lower demand as they reduced inventory levels.

    The Speciality division recorded volume growth, supported by demand from aerospace customers. The group has also added precision machining capacity in France as part of its European operations.

    Design and Engineering revenue was broadly unchanged year-on-year, while margins improved. Carclo said customer activity in the U.S. was increasing following a higher level of activity in the second half of the previous year, while it expects its EMEA operations to recover later in the current financial year.

    The company reported working capital outflows and higher net debt as of July. Management expects these movements to reverse by the end of the second quarter, with net debt excluding leases anticipated to be broadly in line with the prior-year level.

    Carclo expects trading to be weighted towards the second half of the financial year, based on anticipated demand through late 2026 and early 2027, order activity and new programme launches. The board left its full-year expectations unchanged.

    The group is scheduled to publish interim results for the six months ending 30 September 2026 in November.

    More about Carclo plc

    Carclo plc is a London-listed precision engineering group serving the Life Sciences, Aerospace and Safety & Security markets.

    Its operations include Manufacturing Solutions, Design & Engineering and Speciality components, with manufacturing activities in EMEA and the United States.

    The group provides automated manufacturing, tooling, design and precision machining services for customers including civil and defence aerospace and life sciences companies. Its current corporate strategy is known as Precision 2030.

  • Frontier Developments FY26 revenue rises 16% as operating profit reaches £25 million

    Frontier Developments FY26 revenue rises 16% as operating profit reaches £25 million

    Frontier Developments (LSE:FDEV) reported revenue of £104.8 million for FY26, an increase of 16%, while operating profit rose to £25.0 million from approximately half that level in the previous year.

    Adjusted operating profit increased 62% to £21.4 million. The video game developer ended the financial year with cash of £44.0 million after conducting share buybacks during the period.

    Frontier said its cash balance subsequently increased to £51.4 million by August and announced a £5.0 million special dividend.

    The company attributed FY26 performance to Jurassic World Evolution 3 and continued contributions from its Planet Coaster and Planet Zoo franchises.

    Frontier also outlined its upcoming game release schedule. Planet Zoo 2 and Warhammer 40,000: Chaos Gate – Deathwatch are planned for FY27, while a new Planet creative management simulation title based on Frontier’s own intellectual property is scheduled for FY28.

    The company is targeting the release of one new creative management simulation game each year as part of its longer-term development strategy. Its future pipeline also includes projects associated with a new licensing agreement with Disney.

    Frontier announced leadership changes alongside its results, with Jo Cooke becoming chief executive officer and founder David Braben moving to a non-executive role.

    More about Frontier Developments

    Frontier Developments plc is a Cambridge-based developer and publisher of video games.

    The company develops creative management simulation titles, with franchises including Planet Coaster, Planet Zoo and Jurassic World Evolution. Its games are developed using Frontier’s proprietary COBRA technology.

    Frontier’s business model includes new game releases, additional content and sales from its existing catalogue of titles.