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Yellow Cake plc (LSE:YCA) successfully placed 22,983,977 new Ordinary Shares with institutional investors, raising approximately US$175 million. The capital raise was increased from an initial target of US$125 million due to strong investor demand.

The funds will allow the company to exercise its 2025 uranium purchase option with Kazatomprom and pursue additional strategic uranium acquisitions. This is expected to increase Yellow Cake’s physical holdings to over 23 million pounds of uranium, positioning the company to benefit from strengthening market fundamentals amid global nuclear expansion and rising uranium demand.

More about Yellow Cake plc

Yellow Cake plc, listed in London and incorporated in Jersey, specializes in the uranium sector. The company provides exposure to the uranium spot price through its strategy of buying and holding U3O8 and engages in uranium-related commercial activities. Its operations are supported by a ten-year Framework Agreement with Kazatomprom, the world’s largest uranium producer, and it currently holds 21.68 million pounds of U3O8 stored in Canada and France.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

3i Group PLC (LSE:III) reported a moderation in like-for-like (LFL) sales growth at Action during Q3 2025, citing a weaker consumer environment in France and Germany, along with unrest in France, as key factors. Shares fell following the announcement. The company also confirmed a transaction to increase its stake in the retailer.

In a portfolio update ahead of its Capital Markets Seminar, 3i said year-to-date sales at Action reached €10.9 billion as of 21 September, below its prior expectation of €11.2 billion for the first nine months. This represents an 18% increase year-on-year, slightly above RBC Capital Markets’ forecast of 17.5%. LFL sales growth was 6.5% year-on-year, just above RBC’s high-end estimate of 6.4%. Growth had been 6.8% at the end of August, signaling a “softening in September so far.”

“We note a softer exit rate in September, owing to recent general strikes and unrest in France. We view Action as a high-quality retailer with significant long-term growth potential, but the degree of outperformance has narrowed this year,” the brokerage said.

3i attributed the weaker results to “weaker overall consumer spending in France and Germany,” which affected year-to-date outcomes. Operating EBITDA for the last 12 months to the end of period nine in 2025 is expected to reach about €2.3 billion, in line with forecasts. Cash balances stood at €758 million as of 21 September.

Action added 207 net new stores year-to-date, exceeding the target of 202, and remains on track to deliver or surpass 370 net new stores in 2025. Expansion includes seven new stores in Switzerland and the retailer’s first store in Romania.

In a strategic transaction, 3i agreed with GIC to acquire a 2.2% stake in Action in exchange for issuing 19.9 million new ordinary shares in 3i Group.

3i’s broader private equity portfolio also showed positive momentum, with Royal Sanders performing well. Since its July update, the group sold MAIT, generating gross proceeds of £143 million—a 30% premium over its March 2025 valuation—and delivering an estimated internal rate of return of about 27%.

“Prior to today, 3i was trading at a c.29% premium to our FY26e NAV/share forecast, ahead of its c.23% average, which we think reflects an increasing contribution from the highly rated Action business,” RBC noted. “The implied CY26e P/E for Action is c.33x. In our view, this looks fair for a well-managed business, but with more limited potential upside near-term.” RBC maintains a “sectorperform” rating with a price target of GBp 3,650.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Glenveagh Properties PLC (LSE:GLV) reported a significant rise in first-half revenue and profit, as the Irish homebuilder more than doubled home completions compared with the same period last year, keeping the company on track to meet full-year guidance.

Revenue increased 124% to €341.6 million for the six months ended 30 June, up from €152.2 million a year earlier. Profit before tax surged to €32.5 million, compared with €1.0 million in H1 2024. The company completed 906 homes in the first half, a 114% increase from 424 units during the same period last year.

Glenveagh reaffirmed its full-year earnings per share guidance of 19.5 cents and expects to deliver around 2,600 total home completions in 2025, including roughly 1,500 units in the Homebuilding segment and approximately €400 million in Partnerships revenue.

“The first half of this year marks another period of successful execution against Glenveagh’s long-term strategy with a focus on scaling delivery, deepening public-private partnerships, and enhancing operational efficiency through innovation,” said CEO Stephen Garvey.

Gross margin improved to 19.5%, up 130 basis points from 18.2% in the prior-year period, reflecting benefits from investments in innovation and standardization. The Homebuilding segment saw margins rise by 170 basis points to 21.4%. The Partnerships segment contributed materially to group profit at the interim stage, generating €20.0 million in gross profit with a 16.2% margin, slightly above target.

Glenveagh also expanded its share buyback program to €105 million from €85 million previously. Since 2021, the company has returned around €400 million to shareholders through buybacks, reducing shares outstanding by approximately 39%.

Net debt stood at €229.9 million, down from €244.1 million a year earlier despite higher production levels, reflecting disciplined capital deployment and prudent cash management.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Mitchells & Butlers (LSE:MAB), the UK-based pub and restaurant operator, reported a 3.1% increase in like-for-like sales for Q4. This contributed to a 4.2% rise for the full fiscal year ending 20 September 2025.

In the fourth quarter, food sales grew 3.4% and drink sales rose 1.9% on a like-for-like basis. Total sales for the 51-week period increased by 3.9%, with the company maintaining outperformance relative to the broader market. Management noted that mid-market pubs and pub restaurants delivered strong results, while London venues and premium businesses saw slightly softer sales.

“We are pleased with our performance over the year, in which we remained consistently ahead of the market, across all market segments,” said Phil Urban, Chief Executive. “Sales growth has been broad based, with strong like-for-like performances in both food and drink across our portfolio of brands, supported by cost efficiencies and a capital program which continues to deliver strong returns.”

The company accelerated its investment program, completing 201 conversions and remodels year-to-date, up from 185 in fiscal 2024. Mitchells & Butlers also opened two new sites – an Alex in Germany and a Browns in London – and acquired two freehold properties at existing locations.

Looking ahead, the company remains confident in meeting consensus expectations for the current fiscal year. Mitchells & Butlers anticipates higher cost inflation of around £130 million, roughly 6% of its cost base, but expressed confidence in its brands’ ability to continue outperforming the sector.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Braemar Plc (LSE:BMS), a provider of investment, chartering, and risk management services for the shipping and energy sectors, reported a decline in revenue and profit for the first half of FY2026, as challenging market conditions and currency headwinds weighed on results.

The company expects H1 revenue to be around £63.8 million, down 16% from £76.0 million in the same period last year. Underlying profit before acquisition-related costs is projected at £5.5 million, compared with £8.0 million in H1 2025, a 31% decrease.

Braemar attributed the weaker results to lower chartering rates, geopolitical volatility, and a significantly weaker US dollar. However, it highlighted that its diversified business model helped mitigate some of these challenges, with solid performances in both the Investment Advisory and Risk Advisory divisions.

“We have made good progress with our strategic priorities and continue to benefit from the resilience of our diversified business model. Our solid H1 performance was achieved despite a challenging trading environment, ongoing weaker chartering rates and competition for talent across the industry,” said James Gundy, Group CEO of Braemar.

Despite the first-half challenges, the company maintained its full-year outlook, noting signs of an improving market environment. Its forward order book remained strong at $73.8 million at the end of August 2025, down from $80.9 million a year earlier, and strengthened further in September.

Braemar also reported that chartering rates have improved at the start of the second half, particularly in Tankers, and sale and purchase activity is increasing. The company expects its performance to be weighted toward the second half, consistent with historical trends.

Net debt stood at £5.6 million at the end of August 2025, up from £2.5 million at the end of FY2025, following completion of a £2.0 million share buyback program.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Petershill Partners (LSE:PHLL), managed by Goldman Sachs Asset Management, reported partner distributable earnings of $152 million for the six months ending 30 June 2025, marking a 9% increase year-on-year. Alongside the earnings update, the firm revealed plans to delist from the London Stock Exchange and return capital to shareholders.

The company cited frustration with its share price and valuation as a key reason for the delisting. Following the announcement, Petershill’s shares jumped more than 33%.

Adjusted profit after tax rose to $124 million, up from $94 million in H1 2024, while adjusted earnings per share increased to 11.4 cents from 8.5 cents a year earlier. Adjusted EBIT climbed to $167 million from $128 million, with margins improving slightly to 89% from 88%. Partner-firm assets under management grew 6% year-on-year to $351 billion.

The board proposed a return of capital of $921 million (415 cents per share) to free-float shareholders, to be followed by the London delisting. Including an interim dividend of 5.2 cents per share, the total payment represents a 35% premium to the prior closing price.

“We are pleased that our Partner-firms have raised $19 billion of gross fee-eligible assets in the first half, despite volatile markets earlier in the year,” said Ali Raissi-Dehkordy and Robert Hamilton Kelly, Co-Heads of Goldman Sachs Petershill Group.

“The Board and the Operator believe the Company has been consistently undervalued despite strong delivery of its strategy and that this is a unique opportunity to return significant near-term value to free-float shareholders.”

During the period, Petershill completed the sale of General Catalyst for $726 million and acquired Frazier Healthcare Partners for $330 million. After the reporting period, it also disposed of Harvest Partners for $561 million and completed a follow-on acquisition in STG Partners for $158 million.

Petershill maintained its full-year 2025 guidance, projecting $20-25 billion in organic fee-eligible assets under management growth and partner fee-related earnings of $180-210 million.

Anglo Asian Mining PLC (LSE:AAZ) reported a return to profitability in H1 2025, with revenues rising to $40.9 million, marking a significant improvement over the previous year. This performance was driven by steady production, favorable commodity prices, and the commencement of operations at two new mines, Gilar and Demirli. The company’s focus on expanding copper production is evident, with Demirli expected to make a substantial contribution to future output. These developments represent key milestones in Anglo Asian’s growth strategy, reinforcing its position in the copper market and enhancing shareholder value.

The company’s outlook is influenced by ongoing financial challenges, including revenue, profitability, and cash flow pressures. Technical indicators show some positive momentum, but negative valuation metrics—driven by a lack of consistent profitability and dividend yield—remain a concern. The absence of recent earnings calls or corporate event updates limits further insights.

Company Overview

Anglo Asian Mining PLC produces gold, copper, and silver, primarily operating in Azerbaijan. The company is pursuing a transition to a mid-tier copper producer, targeting annual output of approximately 50,000–55,000 tonnes of copper by 2030. Its growth strategy includes bringing multiple new mines into production, including the recently opened Gilar and Demirli mines.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Journeo plc (LSE:JNEO) released its interim results for the first half of 2025, reporting strong organic growth in its Fleet Systems and Passenger Systems divisions, despite an overall 4% decline in revenue following the completion of a major contract in New York City. Key achievements include securing its largest framework award to date and completing the strategic acquisition of Crime and Fire Defence Systems, strengthening the company’s platform for future growth. The Board remains confident in meeting full-year market expectations and is focused on achieving the medium-term target of surpassing £100 million in revenue, supported by ongoing R&D investment and strategic acquisitions.

Journeo’s strong financial performance underscores robust revenue growth and stability. Technical indicators suggest a cautious outlook due to mixed signals, while valuation metrics indicate the stock is fairly priced. The lack of recent earnings calls or corporate events does not materially affect the outlook.

Company Overview

Journeo plc is a leading provider of intelligent systems for transport networks and critical national infrastructure. The company delivers sustainable solutions across towns, cities, airports, and public transport systems, focusing on safeguarding critical infrastructure and high-security environments with advanced access control, intrusion detection, and surveillance technologies. Its operations span several divisions, including Fleet Systems, Passenger Systems, Infotec, Crime and Fire Defence Systems, as well as international branches in Denmark and Sweden.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Cohort plc (LSE:CHRT) delivered record financial results for FY2025, achieving notable growth in revenue, operating profit, and order intake. The company maintains a strong order book and expects continued expansion in FY2026, despite a slower start in the first half. The acquisition of EM Solutions has contributed positively to overall performance, while ongoing geopolitical tensions are anticipated to drive further defense investment, supporting both organic and acquisition-led growth strategies.

Cohort’s stock outlook is primarily underpinned by its strong financial performance, robust revenue growth, and solid balance sheet. Technical indicators are neutral, while valuation metrics suggest the stock is relatively expensive. The absence of recent earnings calls or major corporate events limits additional investor insights.

Company Overview

Cohort plc is an independent technology group listed on the AIM market, focusing on defense and related sectors. The company operates through two main segments: Communications and Intelligence, and Sensors and Effectors. It provides a wide range of products and services to domestic and international customers, with operations in the UK, Australia, Germany, and Portugal.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Blencowe Resources Plc (LSE:BRES) has released encouraging initial assay results from its Stage 7 drilling program at the Orom-Cross graphite project. The results reveal high-grade graphite zones and extensions to the existing orebody, which are expected to strengthen the project’s resource base and support optimized mine scheduling. These milestones are key as the company targets completion of its Definitive Feasibility Study by Q4 2025, paving the way for project funding and construction. The establishment of a permanent on-site camp further underscores progress, positioning Orom-Cross as a significant graphite project with potential for substantial economic impact.

Despite these operational achievements, Blencowe Resources faces financial instability, with no revenue, ongoing losses, and negative cash flows, which weigh heavily on the stock’s outlook. Technical indicators are bearish, although recent corporate developments, including strategic agreements and funding initiatives, provide potential for future growth. Overall, financial and operational challenges remain the dominant factors in the company’s evaluation.

Company Overview

Blencowe Resources Plc operates in the mining sector, focusing on exploration and development of graphite resources. Its flagship project, Orom-Cross in Northern Uganda, features high-grade, shallow graphite deposits suitable for low-cost, open-pit mining. The project holds a 21-year mining license and is advancing toward production, supported by a Definitive Feasibility Study.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.