Blog

Henry Boot PLC (LSE:BOOT), active in land promotion, property investment and development, home building, and construction, posted a 19% increase in revenue to £126.4 million for H1 2025, up from £106.0 million in the same period last year.

Profit before tax more than doubled to £7.8 million, compared with £3.7 million in H1 2024, while return on capital employed (ROCE) improved to 9.1%, up from 4.9%, though still below the company’s medium-term target of 10–15%.

The company completed and exchanged total land and property sales of £159.6 million (Henry Boot’s share: £99.3 million) and has already secured 80% of its budgeted 2025 sales. The board approved a 5% increase in the interim dividend, bringing it to 3.24p per share.

Tim Roberts, CEO, commented: “Operationally, we have had a solid first half in challenging markets, and we are also making significant strategic progress.”

Henry Boot’s land promotion division, Hallam Land, sold 1,222 plots in H1 2025, up from 843 in the same period last year, putting the company on track to exceed 3,500 plot sales this year. The total land bank now stands at 107,173 plots.

Net debt increased to £88.1 million from £62.7 million at the end of 2024, with gearing at 21.4%, reflecting investments in planning applications and expanding the home building land bank. In January 2025, Henry Boot increased its stake in Stonebridge Homes to 62.5%; the business completed 85 homes in H1, slightly down from 90 in H1 2024, with the average private sales price rising 3% to £391,000.

Additionally, Henry Boot sold Henry Boot Construction (HBC) to PWS Construction Limited for an initial £4.0 million, funded via a vendor loan note and including performance-based future payments. The transaction allows the group to focus on high-quality land, prime property development, and premium homes, the core of its medium-term growth strategy. Completion is expected by year-end 2025.

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.

IQE plc (LSE:IQE) reported a challenging first half of 2025, with revenue falling to £45.3 million from £66.0 million in the prior year. The decline was primarily driven by lower demand in wireless markets and delays in US military funding.

Despite these challenges, the company has made progress in innovation, particularly in GaN and microLED technologies, and maintains a strong pipeline of customers. IQE is conducting a strategic review, including potential sale discussions, while focusing on cost management and operational efficiency to navigate the current market environment and support future growth.

The company’s outlook is affected by ongoing financial pressures, including negative profitability and weak cash flow. Bearish technical indicators and unattractive valuation metrics further temper investor sentiment. While there are some positive developments in earnings and corporate activity, these are overshadowed by broader operational and financial challenges.

About IQE plc

IQE plc is a leading global supplier of compound semiconductor wafers and advanced material solutions. The company delivers innovative technologies across wireless, photonics, sensing, power, and display markets, serving sectors such as AI, data centers, military and defense, and consumer electronics.

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.

hVIVO plc (LSE:HVO) has published its interim results for H1 2025, reporting revenue of £24.2 million, in line with full-year expectations. While both revenue and EBITDA declined compared to the previous year, the company remains optimistic about returning to growth in 2026.

The integration of recent acquisitions, CRS and Cryostore, is nearing completion, and sales synergies are starting to materialize. Key contracts secured include a £3.2 million hLAB agreement and a letter of intent for a major Phase III human challenge trial. Early signs from the company’s diversification strategy are positive, with a strong sales pipeline and new service lines contributing to future growth prospects. Management expects high-single-digit revenue growth in 2026 as market conditions normalize.

The outlook reflects solid financial performance and attractive valuation metrics, including a low P/E ratio and steady revenue growth. However, technical analysis points to some bearish trends, slightly tempering the overall assessment. Recent corporate events were not factored into the score but provide additional optimism for the company’s trajectory.

About hVIVO plc

hVIVO is a full-service early-phase Contract Research Organisation (CRO) and a global leader in human challenge trials. The company provides end-to-end clinical development services to biopharma clients, specializing in infectious and respiratory disease trials. It operates the largest quarantine facility in London and offers laboratory services under the hLAB brand. Through subsidiaries CRS and Venn Life Sciences, hVIVO delivers early-phase clinical trial services and consulting to the biopharma 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.

Transense Technologies PLC (LSE:TRT) reported a 33% rise in total revenue and a 12% increase in profit before tax for the year ending June 2025, driven by strong performance in its SAWsense and Translogik divisions. SAWsense has transitioned to a full-service model, enhancing customer engagement in sectors such as robotics and aerospace, while Translogik expanded its client base and strengthened its sales operations.

Although royalty income from Bridgestone is expected to decline, the company remains confident in its strategic growth initiatives and ability to deliver returns to investors, supported by solid financial results and encouraging early trading in the new fiscal year.

The company’s outlook is primarily supported by strong financial performance and positive corporate developments, including strategic partnerships and increased management ownership. However, bearish technical indicators and the absence of a dividend yield temper the overall assessment.

About Transense Technologies PLC

Headquartered in Oxfordshire, UK, Transense Technologies develops and supplies advanced sensor technologies and measurement solutions. Its operations are divided into two main segments: SAWsense, which provides Surface Acoustic Wave sensor solutions for industries including aerospace and automotive, and Translogik, which delivers smart, connected tyre inspection equipment for commercial vehicles. The company also earns royalty income from Bridgestone iTrack, a tyre monitoring system licensed to Bridgestone Corporation.

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.

Mpac Group PLC (LSE:MPAC) posted a 41.2% increase in revenue for the first half of 2025, driven primarily by acquisitions completed in 2024. The company faced a slowdown in order intake due to tariff uncertainties, particularly in the Americas, but maintained its full-year guidance.

Operational improvements and strategic consolidation, including the closure of a US facility and the opening of a new engineering hub in Malaysia, position the company for sustainable growth. Integration of acquired businesses is progressing as planned, and Mpac continues to focus on expanding its service offerings and cross-selling opportunities, although the timing of a broader market recovery remains uncertain.

The company’s outlook reflects strong financial performance and key corporate initiatives, offset by bearish technical signals and a relatively high P/E ratio. Profitability and operational risks linked to market conditions remain key considerations.

About Mpac Group PLC

Mpac Group PLC is a global engineering and technology leader, specializing in the design, precision engineering, manufacturing, and support of high-speed packaging equipment and solutions. Serving 80 countries across the Americas, EMEA, and APAC, Mpac focuses on growth sectors such as Food & Beverage and Healthcare. The company provides Original Equipment and Services for automated high-speed packaging, delivering stable and recurring post-sale revenue. Headquartered in Tadcaster, UK, Mpac employs over 1,000 people and emphasizes innovation and sustainable growth.

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.

Surface Transforms (LSE:SCE) has reported a 72% rise in revenue to £8.1 million for the first half of 2025, driven by increased sales to OEM customers. The company improved its gross margin to 64% and reduced its operating loss to £5.2 million.

Ongoing capacity expansion projects, including the installation of a new furnace, are expected to boost manufacturing output to support future growth. Management anticipates full-year revenue of approximately £20 million, 10% above prior expectations. The company continues to focus strategically on expanding capacity, improving yield, and maintaining strong customer support and cash management to achieve sustainable growth.

While financial challenges and mixed technical indicators temper the outlook, recent operational improvements and strong insider confidence support a positive trajectory for the company.

About Surface Transforms plc

Surface Transforms is a UK-based manufacturer specializing in carbon-ceramic automotive brake discs. It is the only producer of these discs in the UK and one of just two mainstream global manufacturers, supplying major OEMs. Using proprietary Carbon Ceramic Technology, the company produces lightweight, high-performance brake discs for both internal combustion and electric vehicles, offering benefits such as reduced weight, longer lifespan, and superior braking performance.

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.

Oriole Resources PLC (LSE:ORR) has released its interim results for H1 2025, highlighting substantial progress across its gold exploration projects in Cameroon and Senegal. The company completed its first drilling campaign at the Mbe project in Cameroon, uncovering promising gold mineralization, and is preparing an initial JORC Mineral Resource Estimate (MRE) for the MB01-S target.

At the Bibemi project, Oriole updated its Mineral Resource Estimate and continued metallurgical testing to optimize gold recovery processes. In Senegal, the company is finalizing a joint venture to advance exploration at the Senala project.

Financially, Oriole recorded a pre-tax loss of £0.57 million, reflecting higher administrative costs due to expanded operations in Cameroon. Despite this, management remains optimistic, supported by strong gold prices and positive exploration results.

About Oriole Resources PLC

Oriole Resources PLC is a gold exploration company listed on AIM, focused on projects in West and Central Africa. The firm specializes in the exploration and development of gold resources, with primary operations in Cameroon and Senegal.

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.

Renalytix (LSE:RENX) has updated its revenue guidance, forecasting significant growth driven by its partnership with Tempus AI, Inc. The company expects revenues of $8.4 million in FY26, $19 million in FY27, and $42 million in FY28, reflecting the anticipated benefits of integrating its technology within hospital systems and healthcare providers.

Despite these positive strategic developments, the company faces notable financial challenges, including declining revenues, high operating losses, and solvency concerns. While the collaboration with Tempus underscores growth potential, weak technical indicators and valuation pressures limit the stock’s attractiveness.

About Renalytix

Renalytix is an AI-enabled in vitro diagnostics company focused on improving clinical management of kidney disease. Its flagship product, kidneyintelX.dkd, is the only FDA-approved and Medicare-reimbursed prognostic test for early-stage risk assessment in chronic kidney disease, commercially available in the United States.

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.

Raspberry Pi Holdings plc (LSE:RPI) has reported a mixed financial performance for the first half of 2025, with revenue down 6% and profit before tax falling 43% compared to the prior year. Despite these declines, direct sales of single-board computers and Compute Modules rose 21%, driven by strong demand from OEM customers.

The company launched seven new products and reached a milestone as semiconductor unit volumes exceeded board unit volumes for the first time. Looking ahead, Raspberry Pi expects the second half of 2025 to deliver higher volumes supported by a strong order backlog, while maintaining full-year profit expectations.

While strong revenue growth and operational stability support the outlook, high valuation and bearish technical indicators temper investor sentiment. Positive corporate developments provide some support, but ongoing attention to efficiency and cash flow management remains crucial.

About Raspberry Pi Holdings plc

Headquartered in Cambridge, UK, Raspberry Pi Holdings is a leader in low-cost, high-performance computing platforms. The company operates as a full-stack engineering organization, with expertise in semiconductor IP development, electronic design, and software engineering. Its products serve industrial, educational, and semiconductor markets, and the company is also known for its contributions to the Raspberry Pi Foundation, supporting computing education worldwide.

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.

B.P. Marsh & Partners Plc (LSE:BPM) has reported robust trading results for the six months ending July 2025, marked by the completion of one disposal and five new investments. The company also maintained a healthy pipeline for potential deals and executed a successful share buy-back program. A secondary placing highlighted strong institutional demand, reinforcing confidence in the company’s long-term growth strategy.

Strategic investments, including stakes in iO Finance Partners and Amiga Specialty, are well positioned to benefit from structural shifts in the UK SME finance market.

The company’s outlook is underpinned by solid financial performance and an attractive valuation. Strong profitability, consistent growth, a low P/E ratio, and a solid dividend yield make B.P. Marsh & Partners an appealing investment. Technical indicators suggest a neutral to slightly bearish short-term trend, which slightly moderates the overall assessment.

About B.P. Marsh & Partners Plc

B.P. Marsh & Partners is a specialist venture capital investor focusing on early-stage financial services businesses. It invests in innovative companies across the financial services sector, particularly in niche areas underserved by traditional institutions, aiming to support strong growth potential and long-term value creation.

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.