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  • TPXimpact Raises FY27 Revenue Guidance to £105 Million Following 57% First-Half Growth

    TPXimpact Raises FY27 Revenue Guidance to £105 Million Following 57% First-Half Growth

    TPXimpact Holdings PLC (LSE:TPX) has upgraded its full-year financial guidance following an increase in first-half revenue and adjusted EBITDA, alongside a move from net debt to a net cash position.

    The digital transformation services group expects revenue of at least £57.0 million for the six months ended 30 September 2026, representing year-on-year growth of at least 57%.

    Adjusted EBITDA for the period is expected to reach at least £7.5 million, more than double the amount recorded in the corresponding period last year. The company anticipates an adjusted EBITDA margin of approximately 13%.

    TPXimpact also reported a change in its balance sheet position during the first half, moving from net debt of £4.2 million at the beginning of the 2027 financial year to net cash of £1.0 million at 30 September 2026.

    Following the first-half trading performance, the board increased its guidance for the full financial year ending in 2027.

    The company now expects annual revenue of at least £105 million and adjusted EBITDA of at least £14 million, reflecting management’s updated assessment of trading conditions and its pipeline of contracted and prospective work.

    TPXimpact attributed its performance to demand for digital transformation services, the development of existing client relationships and greater visibility over future project activity.

    The company primarily serves organisations in the UK public services sector, providing services covering digital design, data, technology and artificial intelligence.

    Management also confirmed the completion of a three-year transformation programme aimed at improving the group’s operational structure and financial performance.

    According to the company, the programme has contributed to operational efficiencies and increased operating leverage, allowing revenue growth to be accompanied by higher adjusted profitability.

    The move to a net cash position represents a change in the group’s financial position compared with the beginning of the financial year.

    TPXimpact said its current trading performance, client relationships and financial position provide a basis for its medium-term growth plans.

    The company will continue to focus on delivering digital transformation projects for public sector customers while pursuing opportunities within its existing service areas.

    The revised FY27 guidance reflects management’s expectations for continued revenue growth and adjusted EBITDA generation over the remainder of the financial year.

    About TPXimpact Holdings PLC

    TPXimpact Holdings PLC (LSE:TPX) is a UK technology-enabled services company specialising in digital transformation for public services organisations.

    The group provides consulting and delivery services across digital design, data, technology and artificial intelligence, supporting organisations seeking to modernise systems, processes and service delivery.

    TPXimpact works primarily with UK public sector clients, combining technical expertise with organisational and service design capabilities.

    The company holds Certified B Corporation status, reflecting its commitment to meeting specified social and environmental performance standards.

    Its business strategy focuses on developing long-term client relationships, expanding its specialist service capabilities and generating growth through digital transformation projects.

  • Atalaya Mining Reports Q3 Copper Production of 13,967 Tonnes and Net Cash of €342.1 Million

    Atalaya Mining Reports Q3 Copper Production of 13,967 Tonnes and Net Cash of €342.1 Million

    Atalaya Mining Copper, S.A. (LSE:ATYM) has reported copper production of 13,967 tonnes at its Proyecto Riotinto operation in Spain during the third quarter of 2026, supported by higher ore grades and improved metallurgical recoveries.

    The company also reported sales of copper contained in concentrates totalling 15,243 tonnes during the quarter, while its realised copper price reached US$6.44 per pound.

    Atalaya’s consolidated cash balance increased to €354.1 million, with net cash reaching €342.1 million, reflecting cash generation during the reporting period.

    The company attributed its quarterly operating performance to improvements in copper grades and recoveries at Proyecto Riotinto, its principal producing asset.

    Despite the third-quarter production figures, Atalaya expects full-year copper and silver production to finish towards the lower end of its previously announced guidance ranges.

    The company maintained its existing forecasts for cash costs and all-in sustaining costs (AISC), although it identified geopolitical developments as a factor affecting energy and consumables markets.

    Atalaya said it continues to monitor these cost pressures while maintaining its previously communicated operating cost expectations for 2026.

    Alongside production activities at Proyecto Riotinto, the company reported progress across several development and exploration projects in Spain.

    At San Dionisio, stripping operations advanced as part of the planned development of the deposit. Atalaya also completed drilling activities at the San Antonio polymetallic deposit, providing further information for its ongoing evaluation of the resource.

    Work continued on the company’s E-LIX processing plant, which forms part of its programme to develop additional mineral processing capabilities.

    Atalaya also reported progress at Proyecto Masa Valverde, one of its principal development assets outside the existing Riotinto mining operation.

    Separately, the company confirmed that Proyecto Touro has been designated a Strategic Project under the European Union’s Critical Raw Materials Act.

    The designation recognises the project’s relevance to the EU’s objectives for developing domestic supplies of critical raw materials, including copper.

    Proyecto Touro forms part of Atalaya’s development portfolio and is intended to contribute to future copper production, subject to the necessary development and regulatory processes.

    The company continues to advance its existing operations and development projects while maintaining its full-year production and cost guidance.

    About Atalaya Mining Copper, S.A.

    Atalaya Mining Copper, S.A. (LSE:ATYM) is a copper mining and development company with operations and exploration projects in Spain.

    Its principal producing asset is Proyecto Riotinto, where the company extracts and processes copper ore to produce copper concentrates, with silver recovered as a by-product.

    Atalaya’s development portfolio includes Proyecto Masa Valverde and Proyecto Touro, alongside exploration and evaluation activities involving polymetallic and pyrite deposits.

    The company also undertakes mineral processing development through initiatives including its E-LIX technology programme.

    Atalaya focuses on copper production, mineral resource development and exploration activities within the European raw materials sector.

  • Greencoat UK Wind Acquires Remaining 20% Stake in 96.4 MW Wind Portfolio for £10.5 Million

    Greencoat UK Wind Acquires Remaining 20% Stake in 96.4 MW Wind Portfolio for £10.5 Million

    Greencoat UK Wind PLC (LSE:UKW) has acquired the remaining 20% interest in a portfolio of five UK wind farms from EDF Invest for approximately £10.5 million, taking full ownership of the assets as it outlines plans to expand its investment strategy.

    The portfolio has a combined generating capacity of 96.4 megawatts (MW). The transaction has been financed through the company’s net cash generation, rather than additional external funding.

    Alongside the acquisition, Greencoat UK Wind has entered into a joint development arrangement to assess potential repowering opportunities across the five wind farms.

    Repowering involves replacing or upgrading existing wind generation equipment to extend the operational life of assets or improve their electricity generation capacity.

    The company announced the transaction in connection with a capital markets event in London, where management outlined plans to broaden its investment activities beyond the acquisition and ownership of operational wind farms.

    Under the revised strategy, Greencoat UK Wind intends to consider selected construction projects, operational life extensions and repowering investments, while retaining operating wind assets as the principal component of its portfolio.

    The approach would allow the company to evaluate investment opportunities at different stages of a wind farm’s operational life, including projects involving the replacement or upgrading of existing infrastructure.

    Management said the broader investment framework is intended to make use of the group’s existing portfolio, operational experience and internally generated capital.

    The acquisition of EDF Invest’s remaining interest gives Greencoat UK Wind full ownership of the five wind farms, providing direct control over ownership decisions relating to their future operation and potential development.

    The joint development arrangement will enable the parties to examine options for extending the assets’ operating lives through repowering. No specific development timetable, additional investment commitment or expected generating capacity following repowering was disclosed in the supplied announcement.

    Greencoat UK Wind’s investment approach continues to focus on generating income from renewable electricity production, alongside managing the long-term operational performance of its assets.

    The company also maintains an inflation-linked dividend policy, supported by cash generated from its portfolio of UK wind farms.

    The capital markets event will provide further details of management’s approach to construction investment, asset life extensions and repowering opportunities as part of its wider portfolio strategy.

    About Greencoat UK Wind PLC

    Greencoat UK Wind PLC (LSE:UKW) is a London-listed renewable infrastructure investment company focused on owning and managing wind farms in the United Kingdom.

    The company has developed a portfolio of operational wind generation assets over more than a decade, generating revenue from electricity production.

    Its investment strategy centres on established wind farms, with additional opportunities being considered in construction, operational life extension and repowering projects.

    Greencoat UK Wind aims to provide shareholders with income through an inflation-linked dividend policy, supported by cash generation from its renewable energy portfolio.

  • British Land Reports 12% Rise in First-Half Rental Income and Maintains FY27 Earnings Guidance

    British Land Reports 12% Rise in First-Half Rental Income and Maintains FY27 Earnings Guidance

    British Land Company plc (LSE:BLND) has reported a 12% increase in like-for-like net rental income for the six months ended 30 September 2026, supported by leasing activity across its London campus properties and retail park portfolio.

    The UK commercial property group expects underlying earnings per share (EPS) of 16.1p for the first half of its 2027 financial year, representing a 5% increase compared with the corresponding period last year.

    British Land also reaffirmed its full-year guidance for underlying EPS growth of at least 6%, reflecting its expectations for rental income and operational performance across the portfolio.

    Property valuations increased by 1.5% during the reporting period, alongside a 3% rise in estimated rental values (ERV), which measure the rental income properties could achieve under prevailing market conditions.

    The company completed approximately 1.4 million square feet of leasing activity during the first half, with agreements secured at rents above both estimated rental values and previous contracted rental levels.

    Its London campus portfolio recorded 25% like-for-like rental growth, reflecting leasing activity and rental adjustments across its office and mixed-use properties.

    Meanwhile, occupancy across British Land’s retail park portfolio reached 99%, with the company continuing to report demand for space from retail occupiers.

    Alongside its operational activities, British Land continued to adjust its property portfolio through acquisitions and disposals.

    The group completed £247 million of asset sales during the period, with transactions taking place broadly in line with the properties’ reported book values.

    British Land also acquired Telford Bridge Retail Park and completed its purchase of Life Science REIT, adding assets to its existing commercial property holdings.

    The transactions form part of the company’s capital recycling strategy, which involves disposing of selected properties and reallocating proceeds towards assets aligned with its investment priorities.

    British Land continues to concentrate its investment activities on London campuses and retail parks, using property development, leasing and asset management initiatives to support rental income and portfolio performance.

    The company said its first-half results and current trading expectations support its existing forecast for at least 6% underlying earnings per share growth in FY27.

    About British Land Company plc

    British Land Company plc (LSE:BLND) is a UK commercial property investment and development company with a portfolio valued at approximately £15.8 billion.

    The group’s principal activities focus on London office and mixed-use campuses, alongside retail parks across the United Kingdom.

    British Land manages its properties through leasing, development, refurbishment and asset management programmes, while undertaking acquisitions and disposals as part of its portfolio strategy.

    The company focuses on generating rental income and long-term property returns through its commercial real estate holdings, with investment decisions centred on occupier demand, asset performance and capital allocation.

  • Quadrise Completes Initial Fuel Formulation Tests for Valkor Utah Project as US$950,000 Licence Payments Remain Outstanding

    Quadrise Completes Initial Fuel Formulation Tests for Valkor Utah Project as US$950,000 Licence Payments Remain Outstanding

    Quadrise Plc (LSE:QED) has reported progress on its fuel development project with Valkor Technologies in Utah, following the successful formulation of MSAR® and bioMSAR™ emulsions using a heavy sweet oil sample obtained from Valkor’s pilot plant.

    The company confirmed that it had received a representative oil sample from the Asphalt Ridge project and completed initial formulation work using its proprietary fuel technologies. Further optimisation activities are scheduled for the fourth quarter of 2026.

    Quadrise and Valkor are also preparing joint marketing activities for MSAR® and bioMSAR™ fuels in Utah as the project moves towards its planned production phase.

    Valkor is continuing drilling and site installation activities at its Asphalt Ridge oil sands pilot plant, with first oil production currently targeted for the first quarter of 2027.

    Under the existing site licence arrangements, Valkor has an outstanding payment balance of US$950,000 payable to Quadrise.

    Valkor expects to make a payment of US$300,000 by the end of October 2026, with the remaining US$650,000 scheduled to become payable following completion of project financing, which is anticipated during the fourth quarter of 2026.

    The timing of the final payment therefore remains dependent on Valkor securing the necessary financing.

    Quadrise is continuing preparations for the deployment of its Multifuel Manufacturing Unit (MMU), which has a processing capacity of 600 barrels per day, together with associated equipment required for operations at the Utah site.

    The company plans to arrange shipment and mobilisation of the manufacturing equipment once the outstanding site licence fees have been received in full.

    The planned installation would provide on-site manufacturing capacity for Quadrise’s emulsion fuel products using oil produced from Valkor’s Asphalt Ridge operations.

    The project remains subject to completion of the outstanding licence payments, equipment deployment and Valkor’s ongoing site development programme.

    Quadrise’s immediate activities include further fuel formulation optimisation, preparations for equipment mobilisation and coordination with Valkor on the proposed commercial marketing of MSAR® and bioMSAR™ in Utah.

    About Quadrise Plc

    Quadrise Plc (LSE:QED) is an AIM-listed energy technology company developing and commercialising emulsion fuel products for industrial and marine applications.

    Its proprietary technologies include MSAR®, an oil-in-water emulsion fuel, and bioMSAR™, a biofuel formulation intended for use in sectors including shipping, power generation, refining and heavy industry.

    The company develops fuel alternatives designed to reduce energy costs and emissions compared with conventional fuels, subject to the operating conditions and applications involved.

    Quadrise works with commercial and industrial partners to evaluate, manufacture and deploy its fuel technologies across international markets.

  • Gulf Keystone Petroleum Receives First Top-Up Oil Cargo Under Kurdistan Export Agreements

    Gulf Keystone Petroleum Receives First Top-Up Oil Cargo Under Kurdistan Export Agreements

    Gulf Keystone Petroleum Ltd. (LSE:GKP) has confirmed receipt of its first allocation of top-up oil barrels from Iraq’s State Oil Marketing Organisation (SOMO), marking the commencement of payments intended to reconcile export revenues with international oil prices.

    The allocation forms part of interim export arrangements established for international oil companies operating in the Kurdistan Region of Iraq. Under these agreements, additional oil barrels are provided to compensate producers for differences between their export sales proceeds and their contractual entitlements.

    The first top-up cargo relates to Gulf Keystone’s oil exports from the fourth quarter of 2025 and represents an initial payment against the company’s outstanding top-up receivables.

    According to Gulf Keystone, the mechanism is designed to align export sales entitlements with international oil prices, in accordance with amendments to Iraq’s federal budget law and the production-sharing contracts governing operations in the Kurdistan Region.

    The company said the receipt of the first cargo represents progress in implementing the interim export arrangements between the relevant Iraqi and Kurdistan authorities and international oil producers.

    Chief executive Jon Harris described the commencement of top-up payments as a milestone for Gulf Keystone and the wider Kurdistan oil industry.

    Harris said the arrangements establish a mechanism for recognising producers’ contractual entitlements under the amended Iraqi budget framework and existing production-sharing agreements.

    The company also indicated that implementation of the payment mechanism could support cooperation between the Kurdistan Regional Government and Iraq’s federal authorities, while providing greater clarity over export revenue arrangements for international operators.

    Gulf Keystone continues to focus on the development of the Shaikan Field in the Kurdistan Region, where its operations are centred on oil production and the management of the field’s resource base.

    The company considers the implementation of the top-up arrangements relevant to its ongoing development plans and the broader investment framework for oil production in Kurdistan.

    The supplied announcement did not specify the volume or monetary value of the first top-up cargo, the total outstanding receivables or a timetable for further allocations.

    About Gulf Keystone Petroleum Ltd.

    Gulf Keystone Petroleum Ltd. (LSE:GKP) is an independent oil and gas exploration and production company focused on the Kurdistan Region of Iraq.

    The company’s principal asset is the Shaikan Field, where it undertakes oil production and development activities.

    Gulf Keystone is listed on the London Stock Exchange and the Oslo Stock Exchange under the ticker GKP.

    Its operations are focused on developing the Shaikan Field’s oil resources and supplying production to export markets under the applicable contractual and regulatory arrangements.

  • Thruvision Secures Three New 81 Series Security Screening Orders in UK and Asia

    Thruvision Secures Three New 81 Series Security Screening Orders in UK and Asia

    Thruvision Group plc (LSE:THRU) has announced three new orders for its 81 Series security screening systems, covering deployments in the United Kingdom and Asia across the logistics, prison and security screening sectors.

    The orders include a WalkTHRU screening lane for a UK distribution centre operated by a logistics company headquartered in the United Arab Emirates, a SpotCHECK system for a privately operated UK prison and a further SpotCHECK unit purchased by Thruvision’s distribution partner in Asia.

    The UK logistics order follows a proof-of-concept trial of Thruvision’s technology and will see a WalkTHRU screening lane installed at a distribution facility handling high volumes of goods and personnel.

    The company said the installation represents an additional deployment of its screening technology within the retail distribution sector, where systems are used to screen individuals moving through operational facilities.

    Separately, Thruvision has received an order for its SpotCHECK product from a privately operated prison in the United Kingdom.

    The order represents a further application of the company’s security screening technology within the prisons and corrections market, one of the sectors targeted by Thruvision for commercial development.

    In Asia, the company’s regional partner has purchased a SpotCHECK system for installation in a country where Thruvision has not previously deployed the product.

    The order extends the geographical coverage of the company’s screening systems and reflects its use of regional distribution partnerships alongside direct customer relationships.

    All three orders relate to Thruvision’s 81 Series product range, which is designed to identify concealed metallic and non-metallic objects during security screening.

    The company supplies screening systems for use in commercial and government facilities, including locations requiring the processing of large numbers of people.

    The latest orders cover different operating environments and geographical markets, with Thruvision continuing to supply its technology through direct sales and international distribution arrangements.

    Financial terms, delivery schedules and the combined value of the three orders were not disclosed in the supplied announcement.

    About Thruvision Group plc

    Thruvision Group plc (LSE:THRU) is a UK-based developer, manufacturer and supplier of security screening technology used by government agencies and commercial organisations.

    The company’s patented systems incorporate artificial intelligence capabilities and are designed to detect concealed metallic and non-metallic objects in real time.

    Thruvision’s products are used in more than 30 countries, with applications including logistics facilities, retail distribution centres, prisons and other security-sensitive environments.

    The group maintains operations and manufacturing facilities in the United Kingdom and the United States, supplying customers through direct commercial relationships and distribution partners.

  • Gana Media Group Reports 1,284% Increase in Estadio Gana Q3 Gross Gaming Revenue to MXN 34.6 Million

    Gana Media Group Reports 1,284% Increase in Estadio Gana Q3 Gross Gaming Revenue to MXN 34.6 Million

    Gana Media Group plc (LSE:GANA) has reported a 1,284% quarter-on-quarter increase in gross gaming revenue (GGR) at its Mexican online sportsbook and casino business, Estadio Gana, reaching MXN 34.6 million in the third quarter of 2026.

    The company also reported a 377% increase in betting turnover to MXN 170.6 million during the quarter, reflecting higher activity across its online gambling platform.

    Gross gaming revenue as a percentage of betting turnover increased to 20.3%, approximately three times the level recorded in the preceding quarter.

    Gana Media Group acquired Estadio Gana in January 2026 and has since introduced changes to its payment systems, customer registration processes and customer relationship management operations.

    According to the company, these measures have contributed to increases in first-time depositors and active users, alongside growth in overall betting activity.

    By mid-October 2026, the platform had registered 87,523 users. The company compared this figure with the seating capacity of Mexico City’s Azteca Stadium.

    September accounted for more than half of Estadio Gana’s total third-quarter gross gaming revenue, making it the platform’s highest-revenue month to date.

    The company noted that September’s performance was achieved without the additional betting activity associated with the FIFA World Cup.

    Based on its September trading performance, Gana Media Group said Estadio Gana had reached a monthly gross gaming revenue run rate exceeding US$1 million.

    The group enters the fourth quarter with a schedule of sporting events expected to provide further betting opportunities for customers. However, the company has not provided a specific fourth-quarter revenue forecast in the supplied update.

    The third-quarter figures reflect increased betting turnover, a higher gross gaming revenue margin and growth in registered users following the acquisition and operational changes implemented earlier in the year.

    About Gana Media Group plc

    Gana Media Group plc (LSE:GANA) operates Estadio Gana, a licensed online sportsbook and casino serving customers in Mexico.

    The platform provides sports betting and online casino services, with a focus on payment methods, sporting events and customer features tailored to the Mexican market.

    Estadio Gana offers betting markets covering football, US sports and other sporting competitions, alongside its online casino products.

    The company focuses on developing its digital gambling operations through customer acquisition, payment processing improvements and platform localisation.

  • Norcros Expects 19% Rise in First-Half Revenue to £220 Million, Maintains Full-Year Profit Outlook

    Norcros Expects 19% Rise in First-Half Revenue to £220 Million, Maintains Full-Year Profit Outlook

    Norcros plc (LSE:NXR) expects to report a 19% increase in revenue to approximately £220 million for the 26 weeks ended 4 October 2026, with underlying continuing operating profit forecast to reach at least £24.6 million.

    The bathroom products group said like-for-like revenue growth at constant currency was approximately 1.5%, reflecting differing trading conditions across its geographical markets.

    Operations in Europe, including the Fibo business, and South Africa recorded revenue growth during the period, while demand in the UK remained subdued. The performance across its European and South African businesses partially offset the impact of softer conditions in the domestic market.

    Norcros reported that pricing adjustments and ongoing operational efficiency programmes contributed to its first-half performance. The group has continued implementing cost management measures alongside initiatives intended to improve operational efficiency across its businesses.

    The company also reported progress on the planned disposal of its South African operations, although the transaction has not yet been completed.

    Net debt at the end of the reporting period is expected to be approximately £55 million, reflecting cash generation during the first half. The group estimates its leverage ratio at around 1.1 times EBITDA.

    Looking ahead, Norcros expects market conditions to remain subdued during the second half of its financial year. Nevertheless, the board has maintained its guidance for full-year underlying operating profit to be in line with market expectations.

    The company cited its pricing measures, supply chain arrangements, operational efficiency initiatives and cost management activities as factors supporting its current financial outlook.

    The anticipated first-half results reflect revenue growth across the group, alongside continued efforts to manage operating costs and reduce net debt while progressing the proposed sale of its South African business.

    About Norcros plc

    Norcros plc (LSE:NXR) is a bathroom products group operating across the United Kingdom, Ireland and South Africa, with a portfolio of brands serving trade and retail customers.

    Its brands include Triton, Merlyn, Grant Westfield, Fibo, Vado, Croydex, Abode, Tile Africa, TAL and House of Plumbing. The group focuses primarily on mid-premium bathroom products, including showers, enclosures, fittings, surfaces and associated accessories.

    Headquartered in Wilmslow, Norcros employs approximately 2,000 people and operates through a decentralised management structure, with individual businesses retaining operational responsibility while sharing selected procurement, logistics and other group resources.

    The company’s development strategy includes organic expansion, selective acquisitions, operational efficiency measures and environmental, social and governance initiatives.

  • International Public Partnerships Plans £68 Million Moray West OFTO Investment Following Ofgem Regulatory Update

    International Public Partnerships Plans £68 Million Moray West OFTO Investment Following Ofgem Regulatory Update

    International Public Partnerships (LSE:INPP) has reported progress towards its planned £68 million investment in the Moray West Offshore Transmission Owner (OFTO) project following the publication of proposed licence terms and associated documentation by UK energy regulator Ofgem.

    The regulatory development represents a further stage in the approval process for the offshore transmission project, with financial close currently expected in December 2026.

    The Moray West OFTO will provide electricity transmission infrastructure connecting the Moray West offshore wind farm, located in the Moray Firth off the Scottish coast, to the wider electricity network.

    INPP expects the investment to generate double-digit, inflation-protected returns through an availability-based revenue arrangement extending over 23.5 years. Revenues under the proposed structure will be linked to the Consumer Prices Index (CPI), providing contractual inflation adjustments over the investment period.

    Subject to completion, Moray West would become INPP’s twelfth OFTO investment, expanding its portfolio of regulated electricity transmission assets in the United Kingdom.

    The Moray West wind farm is expected to provide renewable electricity generation capacity equivalent to the needs of approximately 1.3 million homes. Following the addition of Moray West, INPP’s OFTO portfolio would cover renewable generation capacity equivalent to supplying approximately 5 million homes.

    The proposed transaction also forms part of INPP’s capital recycling strategy, under which the company reallocates capital from existing investments into new infrastructure opportunities. According to INPP, this approach has increased returns by more than 2% for each pound reinvested.

    The investment remains subject to the completion of the relevant regulatory and transaction processes, with the company targeting financial close before the end of 2026.

    About International Public Partnerships

    International Public Partnerships (LSE:INPP) is a listed infrastructure investment company with a portfolio of more than 130 assets across the United Kingdom, Europe, Australia, New Zealand and North America.

    Its investments cover utility and energy transmission infrastructure, transport, education, healthcare, justice facilities and digital infrastructure.

    The company focuses on public infrastructure investments intended to generate long-term income and capital growth for shareholders, including assets operating under regulated or contractual revenue arrangements.