Category: Top Story

Seeing Machines (LSE:SEE) reported mixed results for the half year to 31 December 2025, with adjusted revenue falling 8% to US$23.4 million as income from OEM engineering services and licence agreements declined. However, the company recorded strong growth in recurring revenue streams, with annualised recurring revenue rising to US$14 million and Aftermarket sales increasing 18%, driven by continued demand for its Guardian driver monitoring safety system.

Automotive production volumes incorporating the company’s technology increased sharply, rising 62% to around 1.1 million vehicles during the period. This expansion boosted higher-margin royalty revenue by 33% to US$8.4 million and helped narrow the adjusted EBITDA loss to US$13.7 million. Cash reserves stood at US$3.4 million at period end, although the balance was later supported by a post-period lump-sum royalty payment and the establishment of a new receivables financing facility.

The company also strengthened its position in driver and occupant monitoring systems, with more than 4.8 million vehicles globally now using its technology. New programme wins in Europe and Japan, along with growing demand in the Aftermarket segment—including large fleet and autonomous vehicle orders in North America—added to commercial momentum. Seeing Machines is also developing new technologies such as 3D Cabin Perception Mapping and impairment detection tools aligned with emerging U.S. safety priorities, alongside its Future Mobility Group initiatives.

These developments are expected to position the company to benefit from the implementation of Europe’s General Safety Regulation (GSR) requirements, which are anticipated to drive further royalty growth. Management continues to target positive adjusted EBITDA in the second half of FY2026 while also working to refinance a convertible note due in 2026.

From an outlook perspective, the company still faces financial challenges, including ongoing losses and negative operating cash flow. Near-term technical indicators also appear weak. However, management commentary points to regulatory tailwinds, expanding automotive adoption and cost-control measures aimed at achieving cash-flow breakeven.

More about Seeing Machines

Seeing Machines is an Australia-based technology company specialising in AI-powered, vision-based monitoring systems designed to improve safety in transport. Its solutions track driver attention and cognitive state using computer vision, embedded processing and advanced optics. The technology is used across automotive, commercial fleet, off-road and aviation sectors, supplying driver and occupant monitoring systems to global automotive manufacturers, Tier 1 suppliers and fleet operators.

Europa Oil & Gas (LSE:EOG) has received approval from Ireland’s Department of Climate, Energy and the Environment to extend Phase 1 of its FEL 4/19 offshore licence until 31 January 2028. The additional time will allow the company to carry out further technical work and seek a partner to help progress development of the licence area.

The FEL 4/19 block contains the Inishkea West gas prospect, estimated to hold around 1.5 trillion cubic feet of gas. Europa describes the prospect as a relatively low-risk asset that could serve as a strategic domestic gas source for Ireland with lower emissions compared with imported alternatives. The company also noted the prospect’s proximity to existing infrastructure, which could enable faster development should a commercial discovery be made, potentially reducing Ireland’s dependence on imported gas while supporting the country’s energy transition objectives.

From an outlook perspective, Europa faces financial challenges, including declines in revenue and profitability. However, recent corporate developments and some positive technical indicators provide a more balanced view, suggesting potential improvement over time. While valuation metrics remain pressured due to current unprofitability, insider confidence and progress on key strategic assets may offer longer-term upside.

More about Europa Oil & Gas (Holdings) plc

Europa Oil & Gas (Holdings) plc is an AIM-listed exploration, development and production company focused on oil and gas projects in the UK, Ireland and West Africa. Its portfolio includes several offshore Irish licences, including FEL 4/19, where the company is targeting gas resources that could contribute to lower-emission energy supply and support regional energy transition goals.

GSK (LSE:GSK) has received acceptance from the European Medicines Agency to review its marketing authorisation application for bepirovirsen, an antisense oligonucleotide therapy being developed as a potential first-in-class treatment for adults with chronic hepatitis B. The regulatory submission is supported by encouraging Phase III results from the B-Well trial, where bepirovirsen used alongside standard nucleos(t)ide analogue therapy delivered significantly higher functional cure rates compared with standard treatment alone, while maintaining an acceptable safety profile.

Chronic hepatitis B affects roughly 3.2 million people across Europe, many of whom require lifelong antiviral treatment. A finite therapy capable of achieving a functional cure could transform current treatment approaches and reduce long-term complications such as liver cancer. If approved, bepirovirsen would further strengthen GSK’s position in the infectious disease market and could serve as a core component in future combination regimens aimed at expanding functional cure rates among broader patient populations.

The company’s outlook is supported by strong profitability and improving fundamentals, alongside positive pipeline progress and constructive guidance for 2026. Valuation appears reasonable with a modest dividend yield, although near-term technical indicators suggest potential overbought conditions and there remain ongoing considerations around balance sheet dynamics and earnings consistency.

More about GSK

GSK is a global biopharmaceutical company focused on discovering, developing and commercialising medicines and vaccines to prevent and treat disease. The company applies advanced science and technology across therapeutic areas including infectious diseases, aiming to deliver innovative therapies that can prevent illness or transform the management of chronic conditions for patients worldwide.

FirstGroup PLC (LSE:FGP) said trading across its First Bus and First Rail divisions has performed in line with expectations, according to a pre-close update released on Thursday, with the company maintaining its outlook for modest adjusted earnings per share growth in the 2026 financial year.

The transport group also improved its guidance for net debt in FY26, now expecting a range of £135 million to £145 million compared with the £140 million to £150 million forecast issued in December following the acquisition of Tootbus. The revised outlook reflects small changes to the bus portfolio, ongoing network optimisation and the addition of several bolt-on acquisitions.

FirstGroup has increased its fuel hedging coverage, securing around 88% of its fuel needs for FY27 and about 53% for FY28 after entering additional hedging agreements in February. The company has also hedged approximately 77% of its floating-rate electricity consumption for FY27 and 46% for FY28.

As part of its expansion strategy, the group has acquired two regional operators: J&B Coaches in Leeds and Hills Coaches in Wolverhampton.

Within its open-access rail business, Lumo has introduced extended services between Edinburgh and Glasgow and launched a new route connecting London Euston and Stirling, which is expected to reach full operation by July 2026. Meanwhile, First Rail continues preparations for the mobilisation of its London Overground contract ahead of the start date of May 3, 2026.

FirstGroup’s shares currently trade at roughly 6.6 times FY27 enterprise value to EBIT, compared with sector averages of around 8 to 10 times, and at about 8.5 times FY27 price-to-earnings.

Next plc (LSE:NXT) has released its preliminary results for the financial year ended 31 January 2026, with the full report made available through regulatory filings and the company’s website for investors and analysts. The publication provides detailed insight into the group’s trading performance over the past year and reinforces the company’s commitment to maintaining transparency with shareholders.

The board has recommended a final ordinary dividend of 181p per share for the year, which would bring total ordinary dividends for the financial year to 268p per share, subject to shareholder approval at the company’s annual meeting in May. If approved, the dividend schedule includes an ex-dividend date in early July and a payment expected in August, highlighting the company’s continued focus on returning cash to investors and signalling confidence in its financial position.

Next’s outlook is largely supported by strong financial performance and favourable technical indicators in the market. While valuation metrics appear broadly fair, recent corporate developments present a mixed picture. Positive factors such as share purchases and property-related transactions have been partly offset by notable executive share sales.

More about Next plc

Next plc is a UK-based retailer operating across the fashion and homeware markets. The company sells clothing, footwear, accessories and household products through a combination of physical stores and online channels. Serving primarily mid-market consumers, Next is a well-established presence on the British high street and a significant player in the UK e-commerce retail sector.

PetroTal (LSE:TAL) reported average production of 19,473 barrels of oil per day in 2025, representing an increase of about 9% compared with the previous year. The company generated $166.3 million in adjusted EBITDA and $90.4 million in free funds flow despite a weaker Brent price environment. Net income declined to $44.2 million from $111.5 million a year earlier, although PetroTal strengthened its financial position with year-end cash of $139.1 million. During the year, the company returned approximately $44 million to shareholders through dividends and share buybacks before suspending further distributions.

Development capital expenditure was significantly reduced during 2025 as the company prioritised other operational needs, including major investment in an erosion control project. Production at the Bretana field has also been affected by limited water reinjection capacity, which has forced five horizontal wells offline.

To support future growth, PetroTal has awarded a tender for a new drilling contractor and plans to import a drilling rig to Peru in 2026. The company is targeting the spudding of its next Bretana development well by October 2026, while also focusing on cost efficiencies and facility improvements aimed at increasing production and operational efficiency.

More about PetroTal Corp

PetroTal Corp. is an oil and gas production company with its core operations in Peru. Its principal asset is the Bretana field in Block 95, complemented by additional production from Block 131. PetroTal primarily exports its crude via routes through Brazil, seeking Brent-linked pricing while managing logistics, tariffs and water-handling constraints that influence its operational strategy and capital investment priorities.

Anglo Asian Mining plc (LSE:AAZ), the AIM-listed gold, copper and silver producer focused on Azerbaijan, is targeting a transition into a multi-asset, mid-tier copper and gold miner by 2030. The company plans to increase annual copper production to around 50,000–55,000 tonnes by developing additional deposits at Xarxar, Garadag and Zafar alongside its newly commissioned Gilar and Demirli mines.

The group has set the date for its 2026 Annual General Meeting for 24 June in London, where shareholders will be able to assess progress on the company’s expansion strategy. Production at the Gilar mine began in May 2025, followed by the start-up of the Demirli operation in July 2025. As Anglo Asian works toward its long-term production targets, the AGM is expected to provide an update on operational execution, funding requirements and the timeline for bringing further deposits into production.

The company’s outlook remains constrained by weaker recent financial performance, including declining revenue, negative margins and pressure on free cash flow. Valuation metrics are also difficult to assess due to negative earnings. These factors are partly offset by supportive technical indicators, with the share price trading above major moving averages and showing positive momentum signals.

More about Anglo Asian Mining

Anglo Asian Mining plc is an AIM-listed mining company producing gold, copper and silver from assets in Azerbaijan. In 2025 the group produced 7,915 tonnes of copper and 25,061 ounces of gold. The company is pursuing a strategy to evolve into a multi-asset, mid-tier copper and gold producer by 2030, with copper expected to become its primary commodity over time.