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  • Serica Energy Completes £33 Million Southern North Sea Acquisition

    Serica Energy Completes £33 Million Southern North Sea Acquisition

    Serica Energy (LSE:SQZ) has completed the acquisition of a portfolio of Southern North Sea gas assets from Spirit Energy for net consideration of £33 million after adjustments for interim cash flows.

    The acquired portfolio includes a 15% interest in the Cygnus gas field and a 25% interest in Clipper South, alongside operated interests in assets within the Greater Markham Area.

    Serica plans to group the acquired properties into a Southern North Sea hub within its existing UK portfolio.

    Acquired Assets Add Around 10,000 Boepd

    The assets currently contribute approximately 10,000 barrels of oil equivalent per day to Serica’s production and add 18.7 million barrels of oil equivalent of proved and probable, or 2P, reserves.

    Serica forecasts that the acquired portfolio will generate more than $200 million of free cash flow by the end of 2028.

    Spirit Energy will retain more than three-quarters of the decommissioning liabilities associated with the acquired assets.

    Serica Expands Southern North Sea Portfolio

    The transaction increases Serica’s exposure to natural gas production on the UK Continental Shelf and adds a further operating hub to its portfolio.

    Serica Energy is an independent British oil and gas producer with assets across the UK Continental Shelf. Its portfolio includes operations in the Northern and Central North Sea, the Southern North Sea gas basin and West of Shetland.

    The company’s activities combine production from existing assets, investment in its portfolio and acquisitions.

  • Topps Tiles Expects Full-Year Profit in Line With Market Forecasts

    Topps Tiles Expects Full-Year Profit in Line With Market Forecasts

    Topps Tiles (LSE:TPT) expects full-year adjusted pre-tax profit to be in line with market forecasts after reporting group revenue of approximately £292 million for the year.

    Group revenue declined 1.3%, reflecting the annualisation of CTD and Topps store closures. Excluding CTD, revenue increased 0.7%, while like-for-like sales were broadly unchanged.

    The company said its sales performance compared with a decline in the wider home improvement market during the period.

    Pro Tiler Tools and Online Sales Grow

    Topps Tiles reported growth at its Pro Tiler Tools business and increased sales through its online channels during the year.

    The group also completed its cost-saving and store optimisation programme and continued to expand its product offering into additional hard-surface categories.

    Topps Tiles recently completed the acquisition of premium retailer Fired Earth, which the company expects to be accretive to profit.

    Topps Tiles Expands Hard-Surface Offering

    Topps Tiles sells tiles and related hard-surface products to retail and trade customers through physical stores and digital channels in the UK.

    Alongside the Topps Tiles business, the group operates Pro Tiler Tools and CTD and has expanded its portfolio through the acquisition of Fired Earth.

  • Amaroq Completes 4,729-Metre Drilling Programme at Nanoq Gold Project

    Amaroq Completes 4,729-Metre Drilling Programme at Nanoq Gold Project

    Amaroq Ltd. (LSE:AMRQ) has completed its 2026 resource drilling programme at the Nanoq gold project in South Greenland and reported initial results from metallurgical testing of material from the project.

    The drilling campaign comprised 4,728.9 metres of core drilling across 33 holes, with the majority of the programme focused on infill drilling within the Central Zone.

    The work is intended to provide data for a planned maiden mineral resource estimate for Nanoq. Drilling also tested southern extensions of the mineralised system and the West 1 target.

    Visible Gold and Copper Sulphides Observed in Drilling

    Amaroq said visual observations identified visible gold and copper sulphides in approximately 88% of the holes drilled during the programme.

    Visual observations do not constitute assay results, and the company is continuing its assessment of the drilling data as it works towards the planned resource estimate.

    Amaroq is evaluating Nanoq as a potential future source of higher-grade material for processing at its existing Nalunaq gold facility in South Greenland.

    Metallurgical Tests Report 97% to 99% Gold Recoveries

    Initial metallurgical testing conducted by SGS Lakefield indicated gold recoveries of between 97% and 99% using the existing Nalunaq processing flowsheet.

    The results are being used to assess the potential compatibility of Nanoq material with the Nalunaq processing facility.

    Amaroq has also begun developing infrastructure at Nanoq to support planned bulk sampling and additional drilling.

    Amaroq’s Greenland Portfolio

    Amaroq is a mine development and exploration company focused on gold and strategic metals in Greenland.

    Its principal asset is the 100%-owned Nalunaq gold mine in South Greenland. The company also holds an exploration portfolio covering commodities including gold, copper, nickel, rare earth elements and other base metals.

  • Light Science Technologies Lowers 2026 Revenue Outlook Following Project Delays

    Light Science Technologies Lowers 2026 Revenue Outlook Following Project Delays

    Light Science Technologies Holdings (LSE:LST) expects full-year 2026 revenue of between £9.0 million and £9.5 million, below its previous expectations following delays in its passive fire protection division.

    The revised forecast would still represent an increase from revenue of £8.6 million reported for the previous year.

    The company attributed the reduction in its revenue expectations to delays in obtaining approvals for projects within the passive fire protection business. Two installation contracts that had been expected to contribute during the current financial year have consequently been pushed into a later period.

    Second-Half Revenue Expected to Increase

    Light Science Technologies expects second-half revenue to be approximately 50% higher than in the first half and is forecasting a broadly breakeven result for the six-month period.

    For the full year, the group expects an adjusted pre-tax loss of between £0.8 million and £1.0 million, broadly in line with the previous year.

    The company said several projects affected by delays are expected to progress during 2027.

    Passive Fire Protection Pipeline Expands

    Light Science Technologies reported continued demand for its Injectaclad-based passive fire protection services, with its pipeline covering projects across high-rise residential buildings, hotels, schools and social housing.

    Elsewhere, the company said its contract electronics manufacturing division is performing ahead of expectations, while its AgTech business is trading steadily.

    The group operates across passive fire protection, contract electronics manufacturing and agricultural technology, providing products and services including Injectaclad fire barrier systems, printed circuit board-based electronics and controlled-environment farming technology.

  • SSE Reports Higher Investment and Renewable Output, Maintains Earnings Guidance

    SSE Reports Higher Investment and Renewable Output, Maintains Earnings Guidance

    SSE (LSE:SSE) reported increased investment across its regulated electricity networks business and said renewable generation output is expected to be around 20% higher year-on-year.

    Adjusted investment in the regulated networks business increased by approximately 70% compared with the same period last year, driven primarily by progress across 11 major transmission projects.

    The group expects total capital investment of around £2.5 billion for the half-year.

    Renewable Generation Output Expected to Rise 20%

    SSE said renewable generation output is expected to be approximately 20% above the comparable prior-year period, reflecting weather conditions and additional generation capacity.

    Construction is also continuing at the Dogger Bank offshore wind farm, where turbine installation on the B phase has passed the halfway point.

    SSE Reaffirms Full-Year Earnings Guidance

    SSE expects to report interim adjusted earnings per share of between 64 pence and 68 pence.

    The company said the expected result reflects reduced seasonality in group earnings as regulated electricity networks account for a larger proportion of profits.

    Full-year guidance remains unchanged, with SSE forecasting adjusted earnings per share of between 168 pence and 193 pence for the 2026/27 financial year.

    The group is also maintaining its target of adjusted earnings per share of between 225 pence and 250 pence by 2029/30.

    SSE expects adjusted net debt and hybrid capital to stand at approximately £11.5 billion.

    SSE Energy Operations

    SSE is a UK-based energy company with operations focused on regulated electricity networks and renewable power generation.

    Its activities include investment in electricity transmission infrastructure and the development and operation of renewable generation assets across the UK and Ireland.

  • PZ Cussons Reports 4.5% First-Quarter Like-for-Like Revenue Growth

    PZ Cussons Reports 4.5% First-Quarter Like-for-Like Revenue Growth

    PZ Cussons (LSE:PZC)reported like-for-like revenue growth of 4.5% for the first quarter of its financial year and maintained its expectations for full-year operating profit.

    The Manchester-based consumer goods group provided the trading update ahead of its annual general meeting.

    PZ Cussons said its expectations for operating profit for the full financial year remain unchanged.

    First-Half Results Due in February 2027

    The company is scheduled to provide a more detailed update on its financial and operational performance when it reports first-half results on 10 February 2027.

    PZ Cussons operates across the personal care, home care and baby care categories, with its principal markets including the UK, Australia and New Zealand, Nigeria and Indonesia.

    The group employs approximately 2,000 people globally and owns a portfolio of consumer brands including Carex, Cussons Baby, Imperial Leather, Morning Fresh, Original Source, Sanctuary Spa and St.Tropez.

  • MS International Secures Three-Year U.S. Navy Contract for Naval Gun Systems

    MS International Secures Three-Year U.S. Navy Contract for Naval Gun Systems

    MS International (LSE:MSI) has secured its first multi-year contract with the U.S. Navy through its defence subsidiary in Rock Hill, South Carolina.

    The three-year contract was awarded on a sole-source basis by the U.S. Naval Sea Systems Command, NAVSEA, and covers the continued supply of MK88 MOD4 stabilised gun mounts and MK48 MOD2 electro-optical sights.

    The systems are U.S. Navy variants of MS International’s naval gun mount and electro-optical equipment.

    First-Year Orders Valued at $61.3 Million

    The contract takes effect immediately, with the U.S. Navy committing to purchase 22 MK88 MOD4 gun mounts and 23 MK48 MOD2 electro-optical sights during the first year.

    The initial orders have a combined value of $61.3 million.

    MS International said the multi-year award supports management’s expectations for the medium- to long-term prospects of its Defence and Security Division.

    MS International Expands U.S. Defence Activities

    MS International operates in the defence and security market through businesses including MSI-Defence Systems US LLC.

    The company designs and supplies naval gun mounts and electro-optical sighting systems for defence customers, with its U.S. subsidiary providing equipment to the U.S. Navy.

    The latest agreement represents MS International’s first multi-year U.S. Navy contract.

  • Invinity Battery at California Tribal Microgrid Delivers More Than 1 GWh of Energy

    Invinity Battery at California Tribal Microgrid Delivers More Than 1 GWh of Energy

    Invinity Energy Systems (LSE:IES) said its 10 MWh vanadium flow battery at the Viejas Casino & Resort in California has delivered more than 1 GWh of energy since entering commercial operation in late 2025.

    The battery system was supplied to Indian Energy and forms part of the Viejas Enterprise Microgrid, where it is integrated with a 15 MW solar array.

    Invinity said the system has met or exceeded its contracted performance parameters and is providing near-continuous, on-demand electricity for operations at the resort.

    Battery Integrated With 15 MW Solar Array

    The Viejas Enterprise Microgrid is supported by the California Energy Commission and is described as California’s largest tribal microgrid.

    Invinity’s 10 MWh system provides long-duration energy storage alongside the project’s solar generation, allowing electricity to be stored and supplied when required.

    The company said reaching more than 1 GWh of cumulative energy delivery provides additional operating data from a commercial deployment of its vanadium flow battery technology.

    Invinity Focuses on Long-Duration Energy Storage

    Invinity Energy Systems manufactures vanadium flow batteries for utility, commercial and industrial energy storage applications.

    The company operates from the UK and Canada and supplies customers internationally. Its Endurium vanadium flow battery technology is designed for long-duration, high-throughput applications and has an expected operating life of 30 years or more.

  • Peel Hunt Expects First-Half Revenue of About £62.5 Million

    Peel Hunt Expects First-Half Revenue of About £62.5 Million

    Peel Hunt (LSE:PEEL) expects to report revenue of approximately £62.5 million for the first half of its 2027 financial year, supported by activity across its investment banking, advisory and execution services businesses.

    The investment bank said its performance during the period reflected activity across equity capital markets and continued institutional demand for equity fundraising transactions.

    Peel Hunt also reported an increased share of equity capital markets activity, alongside a mix of mergers and acquisitions and ECM transactions during the first half.

    Peel Hunt Reports Second-Half Deal Pipeline

    The company enters the second half of the financial year with a pipeline of potential transactions across its businesses.

    The timing and completion of individual transactions remain subject to the risks associated with capital markets and corporate deal activity.

    Peel Hunt provides investment banking services to UK mid-cap and growth companies, with activities covering equity and private capital markets, mergers and acquisitions, debt advisory, investor relations and corporate broking.

    Its operations are supported by research, distribution and execution services, with offices in London, New York, Copenhagen and Abu Dhabi.

  • Centrica’s Spirit Energy Completes £33 Million Sale of North Sea Assets to Serica Energy

    Centrica’s Spirit Energy Completes £33 Million Sale of North Sea Assets to Serica Energy

    Centrica (LSE:CNA) subsidiary Spirit Energy has completed the sale of its remaining interest in the Cygnus gas field and other producing assets in the Greater Markham Area and Southern North Sea to Serica Energy.

    The transaction includes Spirit Energy’s remaining 15% interest in Cygnus and has a consideration of £33 million.

    As part of the transaction, £44 million of decommissioning liabilities associated with the assets have also been transferred to Serica Energy.

    Spirit Energy Focuses Portfolio on Morecambe Hub

    Following the disposal, Spirit Energy will concentrate its portfolio around the Morecambe Hub, which becomes its principal producing asset.

    The company intends to focus on its remaining Morecambe operations while progressing the Morecambe Net Zero carbon storage project and managing decommissioning activities across its portfolio.

    Spirit Energy said its approach to decommissioning will continue to focus on safety and environmental considerations.

    Centrica Energy Operations

    Centrica is a UK-listed energy company with activities across gas and electricity markets, primarily in the UK and Europe.

    Its operations include exploration and production activities through Spirit Energy, whose portfolio is now centred on the Morecambe Hub following the completion of the latest asset sale.