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Restore plc (LSE:RST) delivered a strong performance in 2025, with revenue rising 27% to £304.7 million and adjusted operating profit increasing 18% to £55.5 million. The results pushed the company’s adjusted operating margin above its medium-term target of 20%.

Growth was largely driven by acquisitions, including the purchase of Synertec and six additional bolt-on deals completed during the year. Adjusted earnings per share rose 23%, enabling the board to increase the dividend by 19%.

The company also announced a £20 million share buyback programme to be executed over the next 12 months. The move is supported by free cash flow of £42.9 million and leverage of 1.9 times, which remains within the group’s target range despite higher net debt following its acquisition activity.

Strategically, Restore made several changes to its portfolio and operations during the year. These included the disposal of Harrow Green, further integration of its digital and physical storage capabilities and progress on a property consolidation programme. The group also restructured its technology lifecycle services and shredding divisions. Management said these initiatives position the business to maintain operating margins above 20% while continuing to pursue growth opportunities.

Looking ahead, Restore’s outlook is supported by solid financial performance, strong cash generation and operational improvements. However, technical indicators point to the possibility of overbought market conditions, while the relatively high price-to-earnings ratio may raise valuation concerns. Limited data from earnings calls or recent corporate events provides fewer additional signals for investors.

More about Restore

Restore plc is a UK-based provider of secure and sustainable business services focused on managing data, information, communications and assets. The company operates across digital and physical information management, document shredding and technology lifecycle services. Following recent acquisitions, it has also expanded its presence in inbound and outbound communications services.

Secure Trust Bank plc (LSE:STB) reported resilient results for 2025, with continuing profit before tax broadly unchanged at £59.3 million. Net lending increased 8.1% to £3.3 billion, while customer deposits rose 8.2% to £3.5 billion. The bank also improved its cost-to-income ratio to 45.2% and maintained a stable net interest margin of 4.7%.

Capital strength improved during the year, with the CET1 ratio rising to 12.9%. The sale of the Consumer Vehicle Finance business helped lift tangible book value and supported enhanced shareholder returns, including a total dividend of 35.5p per share and the launch of a £10 million share buyback programme.

Operationally, the group completed its cost-efficiency initiative known as Project Fusion, delivering approximately £8 million in annualised savings. The restructuring also simplified the business by exiting new vehicle finance lending and disposing of the Consumer Vehicle Finance division. Meanwhile, Retail Finance expanded its market share to 15.5%, and the bank continued investing in digital capabilities. Provisions for potential consumer redress related to motor finance were increased to £21.5 million in response to evolving expectations from the Financial Conduct Authority.

Strategically, Secure Trust Bank has shifted towards a streamlined operating model centred on Retail Finance and Business Finance, with its Savings division acting as the primary funding platform. Management has set new medium-term targets of around 10% annual growth in net lending and a return on average equity exceeding 16%. These ambitions are expected to be supported by expansion into adjacent product areas, scalable digital services and strict capital and cost management. The bank also aims to gradually reduce its cost-to-income ratio to between 35% and 40%.

The company’s outlook reflects mixed factors. Financial performance remains moderate, with some profitability pressure and weaker cash flow, although the balance sheet remains relatively stable. Technical indicators are currently strong, with the share price trading well above key moving averages and a positive MACD signal. However, momentum indicators such as RSI and stochastic readings are elevated, suggesting the stock may be approaching overbought territory. Valuation remains supportive, with a modest price-to-earnings ratio and a dividend yield of around 2.12%.

More about Secure Trust Bank

Secure Trust Bank is a UK-based specialist lender focused on retail and business finance, supported by a deposit-funded savings platform. Its operations include point-of-sale lending through a wide retail partner network and business finance solutions such as real estate and commercial lending, funded primarily through a growing base of customer deposits.

Volution Group plc (LSE:FAN) delivered strong results for the first half of its 2026 financial year, with revenue increasing 21.7% to £228.7 million and adjusted operating profit rising 21.1%. Growth was supported by volume-driven organic expansion of 4.2% at constant currency alongside contributions from recent acquisitions.

The company increased its interim dividend by 17.6% and continued to generate solid cash flow, with leverage remaining at 1.3 times. Low-carbon products accounted for a growing share of sales, representing 72.1% of total revenue during the period.

All three of Volution’s regional markets—the UK, Continental Europe and Australasia—reported organic growth in both revenue and profit. Margins benefited from a favourable product mix, sourcing improvements and operational efficiency initiatives. Recent acquisitions have also contributed to expansion into new sectors and geographies.

The purchase of Fantech, along with the completed acquisition of AC Industries in Australia, strengthens the group’s presence in specialist ventilation markets. These deals are expected to expand Volution’s exposure to high-growth applications such as ventilation systems used in underground gold and copper mining operations. Management believes these initiatives will help offset ongoing pressures in construction markets and broader geopolitical uncertainty.

Volution’s overall outlook is supported by strong financial performance and positive management commentary around growth prospects. Technical indicators currently point to a more neutral share price trend, while valuation metrics reflect a relatively high price-to-earnings ratio that may suggest some degree of market optimism. Nevertheless, the company’s strong cash generation and strategic expansion initiatives underpin its longer-term stability and growth potential.

More about Volution

Volution Group plc is a London-listed designer and manufacturer of energy-efficient indoor air quality solutions. Operating through around 30 brands across the UK, Continental Europe and Australasia, the company focuses on ventilation, heat recovery and low-carbon continuous running systems used in residential, commercial and industrial buildings.

James Fisher and Sons plc (LSE:FSJ) reported improved profitability in 2025, with underlying adjusted revenue rising 4.3% to £377.2 million. Underlying operating profit surged 56.3% to £28.6 million, reflecting a significant improvement in operational efficiency. Operating margin increased to 7.6%, while return on capital employed (ROCE) climbed to 8.6%.

Net debt declined slightly to £54.4 million, leaving leverage at 1.3 times—comfortably within the company’s target range. Although reported profit fell compared with the previous year, this was largely due to one-off gains from disposals recorded in the prior period rather than a deterioration in underlying performance.

Management described 2025 as a key inflection point in the company’s multi-year turnaround programme. Efforts to simplify the portfolio, implement restructuring measures and improve operational execution across its divisions have begun to deliver tangible results.

Performance was supported by strengthened capabilities in the Defence segment, improving conditions in Energy markets and selective expansion within Maritime Transport. The company also pointed to ongoing product development and more disciplined capital allocation as factors expected to drive further margin and operational progress into 2026.

The group’s outlook is supported by solid financial metrics, including healthy margins, strong cash conversion and robust return on equity. Technical indicators also appear favourable, with the share price trading above key moving averages and a positive MACD signal. Valuation remains attractive due to a relatively low price-to-earnings ratio, though this is partly offset by declining revenue trends and elevated momentum indicators such as high RSI and Stochastic readings, which may suggest the stock is becoming stretched.

More about James Fisher & Sons

James Fisher and Sons is a UK-listed marine services company serving the Energy, Defence and Maritime Transport sectors. The group provides specialised marine engineering services, products and mission-critical solutions to industrial clients and government organisations worldwide, with a growing focus on innovation and technology-driven, higher-margin offerings.

Alfa Financial Software Holdings plc (LSE:ALFA) reported a strong financial performance for 2025, with revenue rising 15% to £126.7 million. Growth was primarily driven by subscription income, which increased 16% during the year. Operating profit climbed 17%, while the group maintained a healthy operating margin of 31.6%.

The company closed the year with £26.4 million in cash and no bank debt. Strong cash generation supported shareholder returns, with both the ordinary dividend and special dividend increased. Free cash flow conversion reached 97%, and net revenue retention stood at 109%, highlighting the strength of recurring revenue from existing customers.

Management pointed to continued momentum in its software-as-a-service strategy. Subscription total contract value rose 18%, and annual recurring revenue grew 15% to £43.9 million. The number of clients operating on Alfa Cloud reached 22 during the year, reflecting ongoing migration to the firm’s cloud platform.

Investment in product development remained significant, with £37.7 million allocated to enhancing the platform. The company’s presence in the United States also continued to expand, with the region now accounting for 45% of group revenue. Alfa said its late-stage sales pipeline remains strong, although foreign exchange movements may dampen reported growth rates in 2026.

Overall, Alfa’s solid financial performance and positive corporate developments provide a strong foundation for the business. However, technical indicators suggest some caution due to bearish market momentum, while valuation metrics remain relatively balanced, supported by a moderate price-to-earnings ratio and an appealing dividend yield.

More about Alfa Financial Software

Alfa Financial Software Holdings plc develops enterprise software for the global asset finance and leasing sector. Its flagship product, Alfa Systems, is a cloud-native SaaS platform designed to manage automotive, equipment and wholesale finance operations, covering processes from originations to servicing and collections. The platform is used by major financial institutions in 37 countries worldwide.

Shawbrook Group plc (LSE:SHAW) delivered strong full-year 2025 results, underscoring the performance of its specialist banking model and its technology-led platform. The lender, which focuses on specialist segments of the commercial and retail banking markets, also completed its return to public markets through an IPO and subsequently joined the FTSE 250 Index.

Underlying profit before tax increased 16% year-on-year to £340.5 million, while underlying basic earnings per share also rose by 16%. The bank reported a return on tangible equity of 17.2%, supported by continued balance sheet expansion. Its loan book grew organically by 16% to £19.2 billion, while customer deposits climbed 16% to £18.4 billion.

Operational efficiency also improved during the period, with the cost-to-income ratio falling to 39.0%. Credit quality remained stable, and the bank highlighted the growing role of technology and artificial intelligence across its operations, including property valuation processes, broker engagement tools and customer service support.

Looking ahead, the board reiterated its medium-term ambitions for sustained double-digit loan growth and high-teen returns on tangible equity. Management also confirmed plans to introduce the company’s first dividend in FY26, signalling confidence in continued earnings growth and the potential to deliver shareholder returns.

More about Shawbrook Group plc

Shawbrook Group plc is a UK-based specialist bank offering lending and savings products to consumers, small and medium-sized businesses, and professional real estate investors. Through a combination of niche lending expertise, disciplined credit underwriting and a scalable technology platform, the group serves around 600,000 customers across a portfolio of brands. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 index.

Prospex Energy plc (LSE:PXEN) has unveiled a growth-focused strategy under newly appointed CEO Tom Reynolds, targeting investments in tangible, inflation-resistant gas and power assets across Europe. The approach centres on increasing value per share while supporting European energy security, with the company aiming to expand a portfolio of producing assets capable of generating cash flow to fund distributions and further investment. Its AIM-listed investing company structure is expected to provide flexibility in pursuing these opportunities.

Reynolds said the company intends to complete its ongoing £1.6 million convertible loan note fundraising, which will help finance capital expenditure designed to safeguard and enhance the value of existing assets. The terms for new subscriptions include revised conversion timing. The CEO also signalled a stronger emphasis on asset-level partnerships, including farm-in arrangements and co-investors, as a way to improve capital efficiency and limit shareholder dilution from new equity raises.

Operationally, Prospex highlighted three producing assets located in Italy and Spain, where stronger European gas prices are anticipated to lift cash flow and support planned development work. At the Viura field in Spain and Selva Malvezzi in Italy, partners are conducting production tests alongside exploration and reservoir studies. Meanwhile, production has restarted at the El Romeral project, where a planned five-well drilling programme is awaiting permitting, with early interest from potential farm-in partners already emerging.

In addition to its producing assets, the company retains stakes in the suspended Tesorillo and Ruedalabola licences in Spain, although progress there remains dependent on regulatory approval. Prospex is also advancing licence applications in Poland for the San and Dunajec onshore areas, a move that would expand its footprint into a third European market characterised by supportive regulations and an established energy services sector.

Reynolds said Prospex is positioned for long-term growth, pointing to its sizeable gas reserves relative to company scale, stable production platform and pipeline of new drilling opportunities and regional expansion prospects. To strengthen communication with investors, the company plans to hold quarterly shareholder events, including at least two in-person meetings annually. The first detailed update is scheduled for 26 March 2026 via an Investor Meet Company presentation.

The company’s outlook remains constrained by weak financial fundamentals, including ongoing operating losses and several years of negative operating and free cash flow, despite maintaining a relatively low-debt balance sheet. Technical indicators also remain soft, with the share price trading below key moving averages and a negative MACD signal, while valuation metrics are challenged by a very high price-to-earnings ratio and the absence of a reported dividend yield.

More about Prospex Energy

Prospex Energy is an AIM-listed investment company focused on developing and investing in European onshore gas and power assets. The firm provides exposure to regional gas markets in countries including Italy and Spain, with plans to expand into Poland. Its strategy targets cash-generating energy assets with clear potential for value creation while building a diversified portfolio capable of funding growth without heavy reliance on new equity issuance.

Shearwater Group plc (LSE:SWG) subsidiary Brookcourt Solutions has secured a contract valued at approximately £1.3 million to deliver and implement an advanced network monitoring platform for a leading UK telecommunications company. The project aims to enhance the operator’s visibility across its network infrastructure, enabling more proactive monitoring of performance and faster identification of potential issues to support the reliability of its award-winning network.

Deployment of the solution is expected to commence in the near term, with the full value of the contract scheduled to be recognised in Shearwater’s FY26 financial results. The company noted that the agreement highlights Brookcourt’s expertise in managing complex, large-scale network environments while strengthening Shearwater’s role as a trusted cybersecurity and managed security partner for major enterprise clients.

From an outlook perspective, the group continues to face pressure from weak financial quality indicators, including ongoing losses and declining free cash flow despite strong revenue growth. However, these factors are partly balanced by positive short-term technical signals, such as the share price trading above its 20- and 50-day moving averages alongside supportive MACD momentum. Valuation metrics remain limited due to the company’s negative price-to-earnings ratio and the absence of dividend yield data.

More about Shearwater

Shearwater Group plc is a UK-based provider of cybersecurity, managed security and professional advisory services with a global client base. Its offerings cover identity and access management, data protection, cybersecurity technologies, managed security services and governance, risk and compliance solutions. The company is listed on AIM under the ticker SWG.

International Energy Agency said Wednesday that its 32 member nations have agreed unanimously to release 400 million barrels of crude from emergency stockpiles, the largest coordinated drawdown ever undertaken by the agency and only the fifth time it has activated such a measure.

In a statement, IEA Executive Director Fatih Birol said the move is intended to stabilize energy markets following disruptions linked to developments in the Middle East and the shutdown of the Strait of Hormuz. The agency noted that the timing and pace of the releases will vary depending on the circumstances and policies of each member country.

Birol warned that the situation carries “major implications for jet fuel supply and diesel, in particular”, while describing conditions in natural gas markets as extremely challenging. He added that the reserve release is meant to provide immediate support to energy markets while emphasizing the importance of restoring shipping through the Strait of Hormuz.

The IEA secretariat said further details about the implementation of the coordinated action will be announced later. The agency also confirmed it will continue closely tracking developments in global oil and gas markets.

According to the IEA, member countries collectively hold about 1.2 billion barrels of crude in government-controlled emergency reserves, in addition to roughly 600 million barrels stored in mandatory commercial inventories.