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Aptamer Group (LSE:APTA) reported a 28% increase in full-year revenue to £1.5 million, supported by demand for its Optimer technology and repeat development contracts with pharmaceutical customers.

The AIM-listed biotechnology company also reported a year-end cash balance of £4.4 million following a £4.1 million equity fundraising, while its adjusted EBITDA loss widened slightly to £2.3 million as administrative expenses increased.

The company said the additional funding provides visibility over its financing requirements into 2028, based on the board’s current expectations.

Revenue growth reflected activity across Aptamer’s development services and commercial partnerships, including projects involving several of the world’s 20 largest pharmaceutical companies.

The group develops synthetic binding molecules known as Optimers, which are designed for applications in drug development, diagnostics, therapeutic delivery and industrial biotechnology.

During the financial year, Aptamer entered into royalty-bearing licensing agreements with Twist Bioscience and Alphazyme covering enzyme-modulating Optimer technology.

The agreements provide a framework for potential royalty income associated with the licensed technology, although the supplied update did not disclose their financial terms or expected revenue contributions.

The company also advanced work on folic acid testing technology supported by the Gates Foundation, targeting applications in food fortification testing.

The programme forms part of Aptamer’s diagnostics activities, which use synthetic binders to identify and measure specific biological or chemical targets.

Aptamer additionally completed a second development programme with Unilever, extending its work with the consumer goods company.

The group has been developing commercial opportunities across pharmaceutical, diagnostic, enzyme and cosmetics applications, combining customer-funded research with licensing arrangements.

Alongside these activities, Aptamer continued investing in its artificial intelligence-assisted discovery platform.

The company said it accelerated development of the technology to support the identification and optimisation of Optimer binders for customer projects and internal development programmes.

Additional automation was introduced to increase binder manufacturing capacity and support a greater volume of development and production activities.

Aptamer also reported progress across several therapeutic delivery programmes, including work involving fibrotic liver tissue, kidney-targeting delivery vehicles and targeted radiotherapeutic applications.

These programmes are intended to investigate the use of Optimer technology in directing therapeutic compounds towards specific biological targets.

The company is developing these applications alongside its established fee-for-service activities, with the aim of creating technologies that could be licensed to commercial partners.

Following the financial year-end, Aptamer reported an increase in its sales pipeline from £4.8 million to £7.0 million.

The £2.2 million increase represents growth of approximately 45.8% in the value of prospective commercial opportunities identified by the company.

The pipeline figure represents potential business opportunities rather than contracted revenue, and the timing and value of future agreements will depend on customer decisions and contract negotiations.

Aptamer said it is working to establish multi-year master service agreements with several pharmaceutical customers.

These arrangements are intended to provide a framework for recurring development work and potentially improve visibility over future project activity.

The company is also pursuing the development of its own intellectual property assets in enzyme and cosmetics applications, with the intention of securing additional licensing opportunities.

Management has identified a combination of service revenue, technology licensing and product supply as the basis of its commercial strategy.

Aptamer continues to target adjusted EBITDA break-even, although the supplied update did not specify a timetable for achieving that objective.

The company also appointed Cavendish Capital Markets as joint corporate broker following the year-end, adding to its capital markets advisory arrangements.

With revenue increasing to £1.5 million and cash of £4.4 million at the reporting date, Aptamer is continuing to invest in its discovery technology, manufacturing capabilities and commercial development programmes.

The group’s financial performance will depend on the conversion of prospective contracts into revenue, progress under existing customer agreements and the contribution from licensing and supply activities.

About Aptamer Group Plc

Aptamer Group plc is a UK-based biotechnology company listed on AIM under the ticker LSE:APTA.

The company develops synthetic binding molecules known as Optimers, which are designed to recognise and bind to specific biological and chemical targets.

Its technology is used in applications including pharmaceutical research, therapeutic delivery, diagnostics, enzyme modulation and cosmetics.

Aptamer provides customised binder development services to biotechnology and pharmaceutical companies while also developing proprietary technologies for potential commercial licensing.

The group’s business model combines fee-for-service research and development contracts, royalty-bearing licensing agreements and product supply activities.

Its development programmes include targeted therapeutic delivery, radiotherapeutic applications and diagnostic testing technologies.

Aptamer is also investing in artificial intelligence-assisted discovery methods and automated manufacturing processes to support binder development and production.

The company works with commercial and research partners across the life sciences industry, including pharmaceutical businesses and organisations developing diagnostic and industrial biotechnology applications.

Angling Direct (LSE:ANG) reported a 5.1% increase in group revenue to £56.4 million for the six months ended 31 July 2026, supported by growth across its UK retail stores and online operations.

The fishing tackle and equipment retailer recorded an 11.9% increase in adjusted EBITDA to £4.3 million, while UK revenue rose 6.9% during the period.

The company said its domestic performance reflected contributions from its store network and e-commerce channels, alongside an increased focus on higher-margin own-brand products and operating cost management.

Angling Direct also reported improvements in cash generation, with net cash increasing to £14.5 million at the end of the reporting period.

Adjusted return on capital employed (ROCE) improved to 10.3%, reflecting changes in operating profitability relative to the capital invested in the business.

The group has been expanding its range of own-brand fishing products, including its Advanta and Discover labels, as part of its strategy to develop product margins and customer offerings.

Management said these products contributed to the group’s margin performance during the first half, alongside cost controls and changes to its product mix.

Angling Direct continued investing in its UK retail estate, opening three new stores during the six-month period.

The additions expanded its physical retail network and formed part of the company’s strategy to increase its geographical coverage and serve customers through both stores and digital channels.

The group also reported an increase in customer engagement through its MyAD Fishing Club membership programme.

Membership rose 16% to approximately 696,000, reflecting continued growth in the retailer’s customer loyalty and digital engagement activities.

Angling Direct said the number of customers using its combined store and online channels also increased during the period, although the supplied update did not provide a specific figure for this growth.

The company operates an omni-channel retail model, allowing customers to purchase products through its physical stores, websites and associated digital services.

Its MyAD Fishing Club platform forms part of this approach, providing a means of maintaining customer relationships and supporting engagement across different sales channels.

Management also highlighted customer gains from competing retailers, attributing part of its UK performance to changes in the competitive environment.

The company has been seeking to increase its share of the UK specialist fishing tackle market through store openings, digital investment and the expansion of its product range.

Alongside its operational activities, Angling Direct continued its share repurchase programme.

The group said buybacks completed since late 2024 represented approximately 12% of its equity, reflecting the scale of shares repurchased over that period.

The company has been returning capital to shareholders while maintaining investment in its retail operations and digital infrastructure.

Following the end of the first half, Angling Direct reported continued sales activity during August and September, with management highlighting trading performance across its UK business.

The board confirmed that the group’s performance remained in line with full-year market expectations.

The company did not provide revised numerical guidance for annual revenue or profitability in the supplied update.

Angling Direct continues to develop its European online operations through local-language websites and its distribution infrastructure in the Netherlands.

These activities form part of its longer-term strategy to expand sales outside the UK while maintaining its domestic retail and e-commerce operations.

The company’s current priorities include developing its UK store network, increasing customer participation in its digital platforms, expanding own-brand sales and managing operating costs.

With first-half revenue of £56.4 million and adjusted EBITDA of £4.3 million, Angling Direct enters the second half of FY27 with management maintaining its existing full-year expectations.

About Angling Direct Plc

Angling Direct Plc is a UK-based specialist retailer of fishing tackle, equipment and related accessories, operating through physical stores and online sales channels.

Headquartered in Norfolk, the company offers more than 25,000 product lines, including products from established fishing equipment manufacturers and its own Advanta and Discover brands.

Its UK operations combine a nationwide retail store network with an e-commerce platform and the MyAD Fishing Club customer membership programme.

The group also serves customers in selected European markets through local-language websites and a distribution facility in the Netherlands.

Angling Direct employs more than 500 people and provides products for different types of recreational fishing, including coarse, carp, sea and game fishing.

The company’s activities include specialist retailing, product development, digital customer services and community engagement initiatives intended to encourage participation in angling.

Its business strategy focuses on developing its UK retail presence, expanding online operations and increasing sales through its own-brand product portfolio.

Cavendish plc (LSE:CAV) expects to report group revenue of approximately £22.8 million for the six months ended 30 September 2026, as the UK investment bank continues to operate across public and private capital markets amid macroeconomic uncertainty.

The company said revenue during the first half was distributed across its principal business activities, including public and private mergers and acquisitions (M&A), equity capital markets advisory services and trading.

Cavendish reported continued activity across these areas despite a more challenging economic environment, with management highlighting an increase in new mandates within its private M&A and private growth capital businesses.

The group attributed the increase in mandate activity partly to previous investment in its transaction origination capabilities and efforts to expand its operations beyond London.

Cavendish has been developing its presence in regional markets, seeking additional advisory opportunities among privately owned businesses and companies requiring growth capital.

Management said these initiatives have contributed to an increase in new private market engagements, although the financial contribution from individual mandates will depend on transaction progress and completion.

The company also reported continued involvement in public equity markets, including advisory services for companies listed on the AIM market of the London Stock Exchange.

Cavendish maintains a substantial portfolio of retained AIM clients and continues to provide corporate finance, capital raising and related advisory services to publicly traded businesses.

The group has also been active in the London Stock Exchange’s new Private Securities Market, extending its participation in transactions involving privately held companies.

This activity complements its existing advisory services in public and private M&A, equity capital markets and trading.

Cavendish said its revenue mix remained balanced across these business lines during the reporting period, providing exposure to different types of corporate transactions and capital market activity.

The company has previously advised on transactions involving businesses including Veremark, Moneybox, Wayve and Oxford Science Enterprises, reflecting its involvement in growth capital and corporate advisory markets.

Management also highlighted an increase in the average market capitalisation of the group’s retained client base as part of its broader development of corporate relationships.

Looking ahead, Cavendish reported a pipeline of prospective public and private transactions, including potential initial public offerings (IPOs).

The company said its pipeline includes opportunities across M&A advisory, equity fundraising and private growth capital transactions.

However, management cautioned that the timing of transaction completions remains difficult to forecast, particularly given the influence of economic conditions and capital market activity on corporate decision-making.

The group also highlighted the limited visibility of future revenue associated with transaction-based advisory work, where income can depend on the successful completion of individual mandates.

As a result, Cavendish intends to maintain cost controls while continuing to pursue new advisory opportunities and develop its transaction pipeline.

The company has been investing in origination capabilities to increase the number of potential transactions entering its advisory pipeline, including opportunities generated through its expanding regional presence.

Management expects these activities to support future mandate generation, although the conversion of opportunities into completed transactions remains subject to market conditions and client decisions.

Cavendish’s expected first-half revenue of approximately £22.8 million reflects activity across its public and private market businesses, with the company continuing to monitor expenditure and transaction timing.

The group has not provided specific forecasts for second-half revenue or profitability in the supplied update.

Its near-term priorities include progressing existing mandates, developing its private M&A and growth capital activities, maintaining relationships with listed corporate clients and managing costs amid continued market uncertainty.

About Cavendish plc

Cavendish plc is a UK investment bank providing corporate advisory, equity capital markets and trading services to publicly listed and privately owned companies.

The group specialises in mergers and acquisitions, equity fundraising, corporate finance and capital market transactions, with a focus on growth businesses and mid-market companies.

Cavendish maintains an established presence in the AIM market, providing advisory and related services to companies listed on the London Stock Exchange.

Its activities also extend to private M&A, private growth capital and transactions involving businesses seeking investment or strategic corporate opportunities.

The company has participated in transactions involving Veremark, Moneybox, Wayve and Oxford Science Enterprises.

Cavendish has been expanding its transaction origination capabilities and geographical coverage beyond London, alongside developing relationships with privately owned businesses and institutional investors.

The group also participates in the London Stock Exchange’s Private Securities Market, complementing its existing public market advisory activities.

Its operations are focused on supporting corporate transactions, capital raising and trading activity across the UK public and private markets.

Greencore Group (LSE:GNC) has increased its adjusted operating profit guidance for the 2026 financial year following revenue growth, improved operating margins and initial cost savings from the integration of Bakkavor.

The UK convenience food manufacturer now expects adjusted operating profit of approximately £248 million from its continuing UK operations, supported by higher production volumes, operational efficiency measures and integration benefits.

Greencore reported fourth-quarter pro forma revenue of £1.04 billion, representing an increase of 4.5% compared with the corresponding period last year.

For the full financial year, pro forma revenue rose 3.6% to £3.38 billion, reflecting increased sales volumes across the enlarged group’s food manufacturing operations.

The company said its manufactured volumes increased 2.1% during the fourth quarter and 1.1% over the full year, with growth exceeding that of the wider UK grocery market.

Demand across chilled food categories contributed to the increase, including products such as prepared salads, sandwiches, ready meals and other convenience foods supplied to major UK retailers.

Greencore also reported the introduction of 167 new products during the period, reflecting ongoing product development activities across its manufacturing operations.

The company said efficiency programmes continued to contribute to operating margin improvements, alongside the initial financial benefits arising from its acquisition of Bakkavor.

Integration activities have focused on combining selected central functions, procurement operations and distribution arrangements across the enlarged business.

Greencore reported that these initiatives are generating early cost savings, with further integration work continuing across the group’s operations.

The acquisition has expanded Greencore’s product range and manufacturing capabilities, providing additional opportunities to supply existing customers with products previously offered by the separate businesses.

The company reported new cross-selling contracts covering salads, ready meals, dips, breads and desserts, representing approximately £30 million in annualised revenue.

These contracts form part of the group’s commercial integration activities, which are intended to increase sales across its expanded customer base.

Greencore also reported an improvement in cash generation during the period, contributing to a reduction in net debt to approximately £600 million.

The reported debt position represents around 1.8 times adjusted EBITDA, reflecting the group’s current leverage following the Bakkavor acquisition and subsequent cash generation.

Management continues to target a medium-term net debt-to-adjusted EBITDA ratio of between 1.0 and 1.5 times under its financing arrangements.

The company has identified debt reduction as a financial priority as it integrates Bakkavor and manages the capital requirements of the enlarged manufacturing business.

Greencore’s revised FY26 profit guidance reflects the combined contribution from revenue growth, production efficiency measures and initial integration savings.

The group expects adjusted operating profit of approximately £248 million for its continuing UK operations, although the supplied update did not specify the previous guidance figure.

Management also reported positive trading conditions during the early part of FY27, with demand continuing across the group’s convenience food categories.

The company is progressing the integration of Bakkavor while developing additional commercial opportunities through its broader manufacturing network and customer relationships.

Greencore’s US business is being treated as a discontinued operation as the group continues its planned exit from that market.

The company’s operations are therefore increasingly concentrated on UK food manufacturing, where it supplies a range of chilled and prepared products to major grocery retailers.

Greencore’s priorities for FY27 include further integration of Bakkavor, continued operational efficiency improvements, the development of cross-selling opportunities and the reduction of net debt.

About Greencore Group

Greencore Group plc is a UK-focused convenience food manufacturer supplying chilled and prepared food products to major grocery retailers.

The company produces a range of food categories, including sandwiches, salads, ready meals, dips, quiches, breads and desserts.

Following its acquisition of Bakkavor, Greencore operates an enlarged food manufacturing business with an expanded product portfolio and customer base.

Its activities include food production, product development, procurement and distribution, with operations primarily concentrated in the United Kingdom.

The group works with retail customers to develop and manufacture convenience food products, including new product ranges and existing private-label offerings.

Greencore is integrating Bakkavor’s operations into its existing business, with a focus on central functions, supply chain activities, procurement and commercial opportunities.

The company is also progressing its exit from the US market, with those operations classified as discontinued.

Its financial priorities include cash generation, debt reduction and maintaining leverage within its medium-term target range of 1.0 to 1.5 times net debt to adjusted EBITDA.

Impax Asset Management Group (LSE:IPX) reported assets under management (AUM) of £20.0 billion as of 30 September 2026, compared with £23.3 billion at the end of June and £26.1 billion a year earlier.

The AIM-listed investment manager recorded net outflows of £2.4 billion during the quarter, alongside a £0.9 billion reduction attributable to market movements and foreign exchange effects.

The combined impact reduced AUM by £3.3 billion over the three-month period, representing a decline of approximately 14.2% from the June 2026 level. Compared with September 2025, assets under management decreased by approximately 23.4%.

Impax said the majority of client withdrawals during the quarter were concentrated in its actively managed listed equity strategies, which form part of the group’s environmental and sustainability-focused investment offering.

Chief executive Ian Simm attributed the continued redemptions to the delayed response of investors to investment performance recorded between 2023 and 2025.

According to Simm, the concentration of equity market returns in a relatively narrow group of technology companies during that period affected the relative performance of Impax’s thematic equity strategies.

The company said some clients have continued to adjust their allocations in response to those earlier performance trends, despite more recent changes in market conditions.

Management reported that environmental investment themes have experienced a recovery during 2026, with several Impax strategies delivering returns above their respective benchmarks and peer groups.

The company also identified an improvement in industry investment flows towards sustainability-related strategies, although the supplied update did not quantify the change in broader market flows.

Impax’s investment activities cover environmental and sustainability themes, including resource efficiency, energy security and electrification.

Its actively managed listed equity strategies invest in companies associated with these areas, while the group also operates fixed income, systematic equity and private markets investment businesses.

Management highlighted the investment performance records of its fixed income and systematic equity strategies, alongside continued development of its private markets activities.

These businesses provide additional investment products beyond the group’s actively managed thematic equity portfolios, where the majority of quarterly redemptions were recorded.

Impax has been expanding its private markets activities as part of its broader investment management operations, providing exposure to assets and investment opportunities outside publicly listed securities.

The company said its investment outlook continues to reflect opportunities associated with environmental markets and the development of infrastructure and technologies linked to resource efficiency and energy systems.

However, the latest quarterly figures show that client withdrawals and adverse market and currency movements continued to reduce total assets under management through the end of September.

The £2.4 billion of net outflows accounted for approximately 73% of the quarterly reduction in AUM, with the remaining £0.9 billion resulting from market and foreign exchange effects.

Despite the decline in managed assets, Impax confirmed that management guidance for the financial year remains unchanged.

The company did not provide revised financial forecasts or additional quantitative guidance in the supplied update.

Future changes in AUM will depend on client subscriptions and redemptions, investment performance, market valuations and currency movements.

Impax continues to manage assets across listed equities, fixed income, systematic strategies and private markets, with its investment approach focused on environmental and sustainability-related themes.

About Impax Asset Management Group

Impax Asset Management Group plc is a UK-based specialist investment manager listed on the AIM market of the London Stock Exchange.

The company provides investment management services focused on environmental markets, sustainability and resource efficiency.

Its investment strategies cover actively managed listed equities, fixed income, systematic equities and private markets, serving clients seeking exposure to companies and assets associated with environmental and economic transitions.

Impax’s thematic investment activities include areas such as energy security, electrification, resource efficiency and technologies supporting changes in industrial and energy systems.

The group manages portfolios across different asset classes and investment approaches, combining fundamental research with systematic investment strategies and private market activities.

Its assets under management are influenced by investment performance, client capital flows, financial market conditions and foreign exchange movements.