DFS Furniture plc (LSE:DFS) reaffirmed its full-year profit forecast of £43–50 million, even as it reported a recent slowdown in customer visits to its stores following periods of adverse weather after the half-year reporting date.
The furniture retailer recorded first-half revenue of £547.7 million, representing an 8.6% increase compared with the same period a year earlier. Pre-tax profit rose sharply to £31 million, up 82% year on year and broadly consistent with the trading update released in January.
Order intake during the half grew by 2.3%, while gross margin improved by 110 basis points to reach 57.8%. Net financial debt was reduced to £61 million, significantly lower than the £117 million reported in the first half of the previous financial year.
DFS also announced an interim dividend of 1.0 pence per share, compared with no interim payout in the corresponding period last year.
The company said consumer confidence remains fragile and warned that recent geopolitical developments could potentially disrupt supply chains. However, management noted that operations have not yet been affected.
Current guidance for the full year is based on the assumption that supply chains remain broadly stable and do not experience significant disruption.
Energean Plc (LSE:ENOG) reported a net loss of $258 million for 2025, reversing a profit of $127 million the previous year, and said it has withdrawn production guidance for Israel after authorities ordered its key offshore facility to halt operations. The move has left the London-listed gas producer without clarity over nearly three-quarters of its total output.
Adjusted EBITDAX declined 4% to $1.12 billion as revenue slipped to $1.77 billion. Operating cash flow, however, rose slightly to $1.14 billion from $1.12 billion in 2024. The company confirmed it will maintain its annual dividend at $1.20 per share.
Israel’s Ministry of Energy and Infrastructure directed Energean to temporarily stop production at the Power FPSO on Feb. 28 following heightened geopolitical tensions in the region. As of the results announcement, the suspension remains in place and no timeline for restarting production has been provided.
The shutdown came just weeks before the expected completion of commissioning work on a second oil train, where hydrocarbon testing had already begun.
“Although we had a strong start to 2026, production in Israel is currently suspended following a government-ordered shutdown in response to the recent geopolitical situation in the Middle East,” chief executive Mathios Rigas said in a statement.
He added the company was “in close and continuous communication with the authorities” to resume operations, adding safety of staff remained the top priority.
Israel accounted for around 113,000 barrels of oil equivalent per day in 2025, representing more than 70% of Energean’s total production. The same asset had previously been forced offline in June 2025 under a government order before recovering to 138,000 boepd during the third quarter.
Energean has therefore suspended its 2026 guidance for Israeli production, costs and group net debt. Forecasts for the rest of the portfolio remain unchanged at 32,000–36,000 boepd.
The company’s annual loss was largely due to non-cash accounting charges. These included a $286 million impairment related to the Cassiopea gas field in Italy, where reservoir performance failed to meet initial expectations. Additional charges comprised $135 million in accelerated depreciation and a $124 million write-off of deferred tax assets.
Energean is currently engaged in arbitration with the operator of the Cassiopea field. Since Oct. 1, 2025, the operator has withheld Energean’s share of production as a non-cash settlement linked to disputed payables, which totalled roughly €144 million as of Dec. 31.
Net debt increased to $3.255 billion from $2.95 billion, pushing leverage to 2.9 times adjusted EBITDAX. During the year, Energean refinanced debt due in 2026 and 2027 through a $750 million 10-year term loan and the issuance of €400 million in senior secured notes, eliminating near-term maturities.
Separately, on March 12 the company signed an agreement to acquire a 20% non-operated interest in Block 14 and a 15.5% stake in Block 14K offshore Angola. The deal carries a base consideration of $260 million with up to $250 million in contingent payments, capped at $25 million annually. Completion is expected by the end of 2026.
At the end of the year, Energean reported 2P reserves of 989 million barrels of oil equivalent, down 1% from the previous year.
Central Asia Metals (LSE:CAML) reported revenue of $229.9 million and EBITDA of $101.8 million for 2025, broadly unchanged from the previous year. However, the company recorded a net loss of $75.2 million following a $117.8 million non-cash impairment charge related to its Sasa mine. Despite the impairment, the group ended the year with a strong cash position of $80.1 million and completed a $10 million share buyback programme. Production of copper, zinc and lead remained broadly stable, enabling the board to declare a reduced but policy-aligned full-year dividend of 12 pence per share. Management also highlighted the strong cost performance of the Kounrad copper operation and reported free cash flow of $56 million.
Looking ahead to 2026, the company expects copper production to be slightly lower, while zinc and lead output should remain stable or increase. Capital expenditure guidance has been reduced to between $14.5 million and $17.5 million. The group plans to improve productivity and extend the operational life of the Sasa mine through efficiency initiatives, exploration work and the introduction of ore sorting technologies.
Central Asia Metals also outlined plans to support future growth through exploration programmes in Kazakhstan and continued investment in Aberdeen Minerals’ drilling activities in Scotland. The company said its flexible balance sheet and new hedging arrangements designed to protect Sasa’s margins will support these initiatives, positioning 2026 as a year focused on strengthening resilience and preparing for longer-term expansion.
The company’s outlook is supported by strong financial fundamentals, including high margins, low leverage and healthy cash generation. Valuation metrics are also favourable, with a moderate price-to-earnings ratio and a relatively high dividend yield. Technical indicators point to a generally positive trend in the share price, although signs of overbought conditions could lead to short-term volatility.
More about Central Asia Metals
Central Asia Metals is a London-based mining company listed on the AIM market that produces copper, zinc and lead from operations in Kazakhstan and North Macedonia.
Its primary assets include the Kounrad SX-EW copper operation in Kazakhstan and the Sasa zinc-lead mine in North Macedonia. The company also pursues early-stage exploration through its majority-owned CAML Exploration business in Kazakhstan and holds a 32.6% stake in Aberdeen Minerals, which focuses on base metals exploration projects in northeast Scotland.
Atalaya Mining (LSE:ATYM) delivered a strong set of results for 2025, producing 51,139 tonnes of copper—at the upper end of its guidance range. The performance was supported by record processing plant throughput and lower cash costs of $2.40 per pound, reflecting higher output, improved metal recoveries and stronger by-product credits. Financially, the company reported revenue of €482.9 million, while EBITDA almost tripled to €179.8 million. Free cash flow reached €107.4 million and net cash rose to €122.0 million, enabling a higher full-year dividend and supporting investment in the company’s Spanish growth projects.
The company continues to invest in expanding operations at the Riotinto mine while advancing development of the Masa Valverde and Proyecto Touro projects. Ongoing exploration success has also helped expand the company’s longer-term project pipeline. Management acknowledged a rise in the lost-time injury rate during the year and said targeted safety measures are being implemented to address the issue.
Following an equity raise completed in January 2026, Atalaya said its strengthened balance sheet and favourable copper market fundamentals position the company well to pursue its production targets for 2026. Although adverse weather disrupted operations early in the year, management remains confident about maintaining momentum and reinforcing the company’s role in European copper supply.
Atalaya’s outlook is supported by strong profitability, improving free cash flow and low leverage. However, technical indicators suggest the shares may currently be in overbought territory, which could introduce short-term volatility. Valuation metrics remain moderate, with a relatively modest dividend yield.
More about Atalaya Mining
Atalaya Mining Copper, S.A. is a copper producer focused on operations in Spain and listed on the London Stock Exchange. Its main asset is the Riotinto mine, one of Europe’s largest open-pit copper operations.
The company is also progressing additional development projects, including Masa Valverde and Proyecto Touro. Atalaya primarily produces copper concentrates with silver by-products and focuses on disciplined cost management and operational efficiency as it expands its presence in the European base metals sector.
Nanoco Group (LSE:NANO) has taken steps to resolve its patent dispute with Shoei Chemical and Shoei Electronic Materials by jointly filing a motion to suspend ongoing litigation after reaching agreement on a binding term sheet. Under the proposed arrangement, neither party will make compensation payments and each will cover its own legal expenses. The agreement also includes mutual covenants not to pursue legal action over the use of their respective quantum dot patents within certain defined display and sensing applications.
The preliminary agreement helps reduce legal uncertainty for Nanoco and its commercial partners by clearly separating the patent rights held by the two companies in key technology areas. By moving toward a definitive settlement based on the agreed framework, both sides are signalling an intention to end the dispute and avoid further litigation.
For Nanoco, the development could allow management to shift focus away from legal proceedings and toward commercial execution and partnership opportunities in the quantum dot market. The move may also provide reassurance to investors and customers who rely on stable access to intellectual property in advanced display and sensing technologies.
Despite this progress, the company’s outlook remains constrained by weak financial performance, including ongoing losses, limited operating cash flow and negative equity. Technical indicators also remain bearish, with the share price trading below key moving averages and showing a negative MACD signal. However, some mitigating factors include reduced cash burn, a solid cash position and progress in joint development agreements, although valuation remains challenged due to negative earnings.
More about Nanoco Group plc
Nanoco Group plc is a UK-listed nanotechnology company specialising in the development and manufacture of cadmium-free quantum dots and other advanced nanomaterials.
The company’s technology is designed for use in display and sensing applications, enabling improved colour performance in screens and enhanced detection capabilities in electronic and industrial devices. Nanoco supplies materials to global technology companies and focuses on advancing high-performance, environmentally safer alternatives to traditional quantum dot technologies.
IG Group Holdings (LSE:IGG) delivered record results for the 12 months to 31 December 2025, with total revenue rising 7% to £1.12 billion and net trading revenue increasing 10%. EBITDA edged up 1% to £531.1 million, while adjusted earnings per share grew 5%, supported by strong customer growth and ongoing share buybacks. The number of active clients climbed to 742,100, boosted in part by the acquisition of retail investment platform Freetrade. The board also announced a new £125 million share buyback programme alongside a final dividend for the shortened seven-month statutory financial period.
The company has initiated a strategic review aimed at enhancing shareholder value. The review will examine several potential options, including acquisitions, possible changes to the group’s domicile or listing structure, and the potential reorganisation or combination of certain business units. Management expects the outcome of the review to be announced in autumn 2026.
Recent strategic initiatives include the integration of Freetrade, the acquisition of Australian crypto exchange Independent Reserve, and the launch of new zero-commission products as well as a spot cryptocurrency offering. These developments are designed to expand IG’s product ecosystem and support sustained EBITDA margins in the mid-40% range, alongside organic revenue growth toward the upper end of its target range. The company has guided that EBITDA for 2026 should align with market consensus and expects revenue growth to continue, supported by elevated market volatility and rising assets under administration.
IG Group’s outlook is supported by strong technical indicators and an attractive valuation profile. The company’s solid financial performance contributes to stability despite some pressure on revenue and cash flow growth. The ongoing share buyback programme further strengthens shareholder returns and reflects management’s focus on value creation.
More about IG Group Holdings
IG Group Holdings is a UK-based operator of online trading and investment platforms offering derivatives, multi-asset trading and retail investing services.
The group targets large and rapidly expanding global markets, benefiting from structural trends such as digital innovation and the growing convergence of trading, investing and gaming-style experiences. Recent acquisitions—including Freetrade and Australian crypto exchange Independent Reserve—have expanded its offering across equities, funds, pensions and digital assets. IG’s platform-led model supports scalability and strong margins while enabling the company to broaden its global retail trading ecosystem.
Capital Limited (LSE:CAPD) reported stable revenue of $345.8 million for 2025 but delivered a significant increase in profitability, supported by stronger investment gains and improved operating margins. Net profit after tax rose sharply to $71 million compared with $17 million in the previous year. Adjusted EBITDA increased slightly, while operational earnings remained broadly steady. Lower capital expenditure and reduced net debt also strengthened the company’s balance sheet, allowing it to maintain its full-year dividend.
Operationally, the group expanded its drilling fleet and improved rig utilisation rates during the year. It also progressed key mining contracts at the Sukari and Reko Diq projects. MSALABS, the company’s laboratory testing division, achieved record performance while expanding its global network of laboratories and enhancing its technology offering. At the same time, Capital Limited’s investment portfolio more than tripled in value to $97.5 million.
Looking ahead, the company expects revenue to grow by around 23% in 2026. Planned capital expenditure will increase to support the ramp-up of mining services, the addition of new laboratory facilities and the deployment of additional drilling rigs. These initiatives reflect the company’s strategy to expand across its core service segments.
Capital Limited’s outlook is supported by strong cash flow generation and positive technical indicators in the share price. A recent equity raise has also strengthened its ability to fund growth initiatives. However, concerns remain around slowing revenue growth trends and pressure on operational margins, while valuation metrics are viewed as moderate.
More about Capital Limited
Capital Limited is a London-listed mining services company that provides drilling, mining and laboratory testing services to gold and other resource projects around the world.
The group’s main operations include contract drilling, mine development and waste stripping services, alongside the MSALABS global laboratory testing network. In addition, Capital Limited maintains a growing investment portfolio focused on selected mining and exploration companies, complementing its core services across the mining sector.
Duke Capital (LSE:DUKE) has declared a fourth-quarter interim dividend of 0.70 pence per share for its financial year, continuing its strategy of providing consistent income to shareholders. The dividend is scheduled to be paid in mid-April, with the ex-dividend and record dates set for late March. The payment highlights the company’s commitment to regular shareholder returns and strengthens its appeal to income-focused investors within the hybrid capital investment sector.
The company’s outlook reflects a stable financial base supported by favourable technical indicators in its share price. Duke Capital’s ongoing acquisition activity and relatively high dividend yield also contribute to its attractiveness as an income investment. However, some risks remain, including a high price-to-earnings valuation and recent declines in revenue, which may weigh on longer-term growth prospects.
More about Duke Capital
Duke Capital Limited is an AIM-listed provider of hybrid capital solutions for small and medium-sized businesses across Europe and North America. Headquartered in Guernsey and trading under the ticker DUKE, the company offers long-term financing structures that combine elements of equity and debt.
Its model is designed to reduce refinancing risk for partner businesses while providing investors with capital preservation, regular dividend income and the potential for additional returns through exit-related value creation.
Marc Sale, CEO of First Class Metals Plc (LSE:FCM), has highlighted significant progress at the company’s Sunbeam Project following the latest round of drilling at the Roy prospect. Speaking with Ricki Lee on The Watchlist, Sale outlined how recent findings, particularly the presence of visible gold, are reinforcing confidence in the scale and potential of the system.
Visible Gold Signals Strong Upside
One of the most encouraging developments from the ongoing drilling campaign is the identification of visible gold across multiple intercepts. Importantly, this is not limited to isolated occurrences.
Sale emphasized that two drill holes revealed numerous grains of visible gold, confirming mineralization in two separate sections. This consistency provides a strong indication that the Roy prospect hosts a genuine gold-bearing system rather than sporadic mineralization.
Crucially, the second drill hole was oriented differently to test the geological structure controlling the mineralization. This strategic adjustment has improved the team’s understanding of how gold is distributed across the system, an essential step in targeting higher-grade zones.
“Structure, structure, structure,” Sale noted, underlining its importance in unlocking the deposit’s full potential.
Expanding the Strike: Over 300 Metres and Growing
The company has already confirmed mineralization over a strike length exceeding 300 metres, but evidence suggests the system could be significantly larger.
The Roy development is located at the southern end of a five-kilometre soil and VLF (Very Low Frequency) grid, within a broader geophysical and geochemical anomalous trend. Sampling across this grid has identified multiple anomalous zones. Importantly, a lake sediment anomaly measuring 111 ppb is situated approximately 1.5 kilometres northeast of the grid’s end, highlighting strong mineral potential along the trend.
Adding further intrigue, exploration teams also discovered two previously unknown historic shafts during fieldwork, reinforcing the area’s untapped potential.
Together, these indicators suggest the Roy structure could extend well beyond the currently defined zone, with strong continuity along strike.
A District-Scale Opportunity
The Roy prospect is just one component of the broader Sunbeam Project, which hosts three mineralized structures: Roy, Pettigrew, and Sunbeam. Each extends over 10 kilometres and shows evidence of historic workings.
First Class Metals Plc is currently focusing on Roy due to its stronger geological understanding, but the strategy is clear:
Expand Roy through continued drilling and structural analysis
Apply learnings to Pettigrew, advancing exploration with improved targeting
Advance Sunbeam, the site of a historic gold mine that reached depths exceeding 150 metres
This phased approach allows the company to systematically unlock value across the entire property.
Strategic Location Adds Confidence
The project’s location further enhances its appeal. The Sunbeam Project lies just 10 kilometres from a major gold deposit operated by Agnico Eagle, one of Canada’s leading gold producers. That neighbouring deposit hosts approximately 3.3 million ounces of gold and shares similar geological characteristics.
This proximity to a proven, large-scale operation strengthens the case that Sunbeam could evolve into a significant gold asset in its own right.
Looking Ahead
With consistent drilling results, expanding strike length, and increasing geological understanding, momentum is clearly building for First Class Metals Plc. The next key milestones will include:
Further drilling to extend mineralization at Roy
Refining structural models to improve targeting
Advancing exploration across Pettigrew and Sunbeam
Progressing toward an initial resource definition
As Sale suggested, the Sunbeam Project has the potential to become a “company-maker” a transformative asset that could define the future of First Class Metals Plc.
For investors and observers alike, the coming phases of exploration will be critical in determining just how large and economically viable this emerging gold system may be.
Strategic Minerals (LSE:SML) has secured approximately £4.7 million through a direct subscription involving 134.3 million new ordinary shares priced at 3.5 pence each. The placing was led by a prominent international investor and was completed at a 16.7% discount to the company’s most recent closing share price. The funds will be used primarily to speed up development of the Redmoor tungsten-tin-copper project in Cornwall, which the company aims to establish as a significant domestic source of strategic minerals for the UK. While the issuance will result in modest dilution for existing shareholders, it also broadens the company’s investor base.
The new shares have been submitted for admission to trading on the AIM market, with dealings expected to begin around 25 March 2026. Once admitted, the shares will rank equally with existing ordinary shares. Following completion of the subscription, Strategic Minerals will have approximately 2.82 billion ordinary shares in issue with voting rights, a figure shareholders can use when determining disclosure thresholds as the company increases investment in its critical minerals portfolio.
The company’s outlook is supported by stronger financial performance recorded in 2024 and by positive technical momentum in its share price. However, valuation metrics appear demanding, with a relatively high price-to-earnings ratio and no dividend yield information available. In addition, technical indicators suggest the shares may be in overbought territory, which could introduce short-term volatility.
More about Strategic Minerals
Strategic Minerals Plc is an AIM-listed exploration and production company with projects spanning the UK, United States and Australia.
Its key assets include the Redmoor tungsten-tin-copper project in Cornwall, the producing Cobre magnetite project in New Mexico, and interests in the Leigh Creek Copper Mine in South Australia. Through this portfolio, the company is positioned within both critical and industrial minerals markets, supporting growing demand for strategic raw materials.
