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Severn Trent Plc (LSE:SVT) shares moved higher after the utility group reported stronger-than-expected results for fiscal 2026 and upgraded its earnings outlook for FY28 following another year of solid operational growth.

Adjusted earnings per share increased 64.5% to 184.4p, comfortably ahead of market expectations of 177p. Revenue rose 16.6% to £2.83 billion, while profit before interest and tax climbed 45.9% to £861 million, supported by operational leverage and lower financing costs.

The shares were up 3.4% in early London trading at 07:24 GMT following the announcement.

Investment programme and dividend growth

Severn Trent invested £1.9 billion during the year ended March 2026, representing an increase of more than 60% compared with spending levels two years earlier. The investment programme contributed to a 13% rise in the company’s regulatory asset base to £15.4 billion.

For the current financial year, the utility expects capital expenditure of between £2.2 billion and £2.5 billion, with the regulatory asset base forecast to expand by a further 13% to £17.4 billion.

The board proposed a full-year ordinary dividend of 126.02p per share, an increase of 3.5%, in line with its policy of growing shareholder payouts by at least the rate of inflation annually.

Upgraded FY28 guidance

Looking ahead, Severn Trent raised its FY28 adjusted EPS guidance, now expecting earnings of at least 250p per share compared with a previous minimum target of 224p. The updated forecast also exceeded Bloomberg consensus estimates of 238p.

Analysts at Morgan Stanley described the revised outlook as “a strong signal of the company’s continued ability to drive operating and financing cost efficiencies.”

“But we recognise this is set against an evolving broader UK/macro context that may dominate market moves depending on latest newsflow,” they noted.

Morgan Stanley also pointed to potential upside beyond current guidance. Severn Trent has submitted a request to regulator Ofwat seeking approval for an additional £600 million of investment spending through the regulatory re-opener process, with a draft determination expected on 15 August.

If approved, analysts estimate the proposal could increase average annual regulatory asset base growth from around 10% to nearly 11% through to 2030.

More about Severn Trent

Severn Trent Plc is one of the UK’s largest water and wastewater utilities, providing services to millions of customers across England and Wales. The company operates regulated water infrastructure assets and focuses on network investment, environmental performance and long-term asset growth within the UK regulatory framework.

Keller Group plc (LSE:KLR) said trading during the opening four months of 2026 was ahead of the prior year and in line with internal expectations, supported by particularly strong performance from its North American foundations business.

The company stated that rising energy and material costs linked to broader macroeconomic pressures have been successfully offset through pricing measures on both new and existing contracts. Management said this supports confidence that recent operational and financial improvements can be maintained.

Order book growth and shareholder returns

Keller’s order book increased to approximately £1.7 billion by the end of April, with strong tendering activity providing good visibility across all divisions of the business.

The group also expanded its capital return programme, announcing a new £100 million share buyback after completing a previous £50 million repurchase scheme.

At the same time, Keller maintained low leverage levels, with net debt to EBITDA expected to stand at around 0.2x by mid-year, reinforcing the company’s balance sheet strength and financial flexibility.

Outlook and market considerations

Keller Group’s outlook is supported by improving financial performance, strong cash generation and comparatively attractive valuation metrics, including a relatively low price-to-earnings ratio.

Management commentary from the latest earnings update also highlighted strong free cash flow, a net cash position and enhanced shareholder return initiatives as positive drivers for investor sentiment.

Technical indicators remain supportive, reflecting a sustained upward trend in the share price, although elevated RSI and stochastic readings suggest the possibility of short-term market pullbacks.

More about Keller Group

Keller Group plc is the world’s largest geotechnical specialist contractor, providing foundation engineering and ground improvement solutions for construction and infrastructure projects globally.

The company employs around 10,000 people across five continents and delivers approximately 5,500 projects each year, generating roughly £3 billion in annual revenue from a diversified international portfolio of infrastructure and building works.

Greencoat UK Wind PLC (LSE:UKW) announced that all 19 resolutions proposed at its latest annual general meeting were approved, including strong shareholder backing for the continuation of the company’s existing closed-ended investment structure.

Investors voted overwhelmingly against discontinuation, with 97.08% of votes cast supporting the company’s ongoing strategy and long-term focus on UK wind energy assets. The result reflected strong shareholder confidence in the group’s renewable infrastructure portfolio and investment approach.

Capital management flexibility approved

Shareholders also renewed the board’s authority to issue new shares and approved the disapplication of pre-emption rights covering up to approximately 20% of issued share capital.

In addition, the company retained permission to undertake share buybacks, providing management with flexibility over future capital raising and balance sheet management initiatives.

The AGM further approved the ability to convene general meetings on 14 days’ notice, a measure the company said would improve responsiveness to market developments and governance matters within the fast-moving renewable energy sector.

Outlook and market considerations

Greencoat UK Wind’s outlook continues to be weighed down by weaker recent profitability, earnings volatility and the absence of free cash flow generation during 2025.

Technical indicators also remain relatively soft, with the shares trading below longer-term moving averages and negative MACD signals pointing to weaker momentum.

However, valuation support is provided by the company’s comparatively high dividend yield, while moderate leverage levels and positive operating cash flow continue to offer some financial stability.

More about Greencoat UK Wind

Greencoat UK Wind PLC is a London-listed closed-ended investment company focused on owning and operating wind power infrastructure across the UK.

The business provides investors with exposure to renewable energy assets through a diversified portfolio of onshore and offshore wind farms, aiming to generate stable, inflation-linked returns from long-term electricity generation.

Headlam Group plc (LSE:HEAD) reported that revenue from continuing operations fell 21% year-on-year during the four months to 30 April 2026, reflecting both subdued market conditions and a deliberate reduction in certain sales activities as the company refocuses on core independent retail and contractor customers.

The business remains loss-making, although management has implemented price increases and additional surcharges to help offset rising input costs. A newly appointed leadership team is also pursuing operational improvements aimed at returning the group to profitability.

Asset disposals and balance sheet measures

To strengthen liquidity, Headlam has completed the sale of one of its three surplus properties and expects the remaining disposals to conclude shortly. Together, the transactions are expected to generate around £15.3 million to support working capital requirements.

The company is also evaluating a potential sale-and-leaseback transaction involving its Coleshill site as part of wider efforts to reinforce the balance sheet.

Net debt increased to £40.3 million as a result of ongoing losses and restructuring-related expenditure.

Headlam additionally announced the appointment of two new non-executive directors. Ahead of a shareholder vote scheduled for 2 June, the board urged investors to reject proposed resolutions put forward by shareholders, arguing that management stability is important while the turnaround strategy progresses.

Outlook and market considerations

The company’s outlook continues to be pressured by weak financial performance, including several years of declining revenue, ongoing losses and continued cash outflows that have weakened the balance sheet.

Technical indicators have provided some support through stronger recent share price momentum, although overbought signals suggest elevated short-term volatility risk. Valuation metrics remain constrained due to negative earnings and the absence of dividend yield support.

More about Headlam

Headlam Group plc is the UK’s largest distributor of floorcoverings products, supplying flooring materials sourced globally to independent retailers and flooring contractors.

The group operates multiple businesses and brands across the UK and the Netherlands, providing nationwide distribution services alongside ecommerce tools and marketing support for manufacturers and trade customers.

Helix Exploration PLC (LSE:HEX) has secured its first revenue-generating helium sales agreement for output from its Rudyard project in northern Montana, representing an important step in the company’s transition from exploration into commercial production.

The short-term spot agreement has been signed with a major industrial gases group and covers all currently available helium production volumes for an initial period of around three months. Pricing is linked to prevailing spot market rates, which management said are significantly above assumptions made prior to the company’s IPO.

Initial deliveries are expected to total approximately 30 to 40 Mcf per day, with additional trailer capacity arranged to minimise potential transportation and logistics constraints.

Commercialisation and market positioning

Management said the arrangement provides Helix Exploration with an immediate route to market and near-term cash generation, while also reinforcing confidence in both the quality of helium produced at Rudyard and the company’s operational capabilities.

The company intends to use the initial contract as a foundation for negotiating larger and longer-term offtake agreements as production expands.

Helix believes the agreement positions the business to benefit from ongoing tightness in global helium supply while supporting its strategy of developing a diversified customer and sales portfolio.

Outlook and market considerations

The company’s outlook continues to be constrained by weak financial performance, including the absence of meaningful revenue generation to date, ongoing losses and increasing cash burn, despite maintaining a debt-free balance sheet.

However, technical indicators remain supportive, with the shares showing strong upward momentum and trading in a positive trend. Valuation metrics remain limited by the company’s loss-making status and lack of dividend payments.

More about Helix Exploration

Helix Exploration PLC is a helium exploration and development business focused on the Montana Helium Fairway in the United States. Its flagship Rudyard Helium Project in northern Montana targets helium and nitrogen gas production from multiple wells.

The company aims to leverage existing infrastructure and relatively low-cost processing operations to supply industrial gas markets and establish long-term cash flow exposure to growing U.S. helium demand.

Mkango Resources Ltd (LSE:MKA) has agreed to acquire the Remloy rare earth magnet recycling business from Heraeus Amloy Technologies GmbH for €8 million in cash.

The transaction is expected to complete during the summer of 2026, subject to regulatory approvals, and will be partly financed using proceeds from a recent equity fundraising.

The Bitterfeld facility in Germany is fully commissioned and specialises in recycling end-of-life magnets through a melting process that produces NdFeB alloy powders. Initial commercial sales are targeted before the end of the year, with plans to scale production capacity to around 500 tonnes of alloy annually over the medium term.

Expanding integrated recycling operations

The acquisition also includes a 300-tonne inventory of rare earth magnets and alloys, strengthening Mkango’s recycling platform alongside its existing German operation, HyProMag GmbH.

Management said the deal enhances the company’s “one-stop-shop” offering across sintered, bonded and hot-deformed magnet markets while creating opportunities for operational synergies with limited additional capital expenditure requirements.

Mkango also intends to combine future primary feedstock from its Songwe Hill project with recycled material streams, a strategy designed to improve supply security for European and international customers seeking sustainably sourced rare earth materials.

More about Mkango Resources

Mkango Resources Ltd is a dual-listed rare earths business focused on recycled rare earth magnets, alloys and oxides through its Maginito subsidiary and associated HyProMag recycling operations in the UK, Germany and the United States.

The company also owns the advanced Songwe Hill rare earths project in Malawi and the planned Puławy separation facility in Poland. Both projects have been designated as Strategic Projects under the EU Critical Raw Materials Act and are intended to support supply chains linked to electric vehicles, wind power and clean energy technologies.

Playtech plc (LSE:PTEC) said trading during the opening months of 2026 has been very strong, with performance between January and April driven by robust growth across the United States, Mexico and several core European markets.

The company also reported continued momentum within its Live segment, while management said investments made in recent years are now generating accelerating returns, particularly across the Americas, contributing positively to profitability.

Americas expansion and strategic partnerships

Playtech highlighted the ongoing strength of its long-term partnership with Caliente Interactive in Mexico, which continues to perform strongly within the regulated gaming market.

Management believes the upcoming FIFA World Cup could further strengthen Caliente’s market position and create additional growth opportunities in the region.

Despite wider challenges affecting the online betting and gaming industry, Playtech said its growing presence in regulated markets, broad geographic footprint, scalable technology platform and established customer relationships leave the business well positioned to benefit from future market expansion.

Outlook and valuation considerations

The company’s outlook continues to reflect some concerns around uneven financial performance and the consistency of earnings quality, despite generally healthy cash generation.

However, technical indicators remain supportive, with the shares trading above major moving averages and momentum readings pointing to a positive trend. Playtech’s comparatively low price-to-earnings ratio also suggests the stock may be attractively valued relative to earnings.

More about Playtech

Playtech plc is a London-listed B2B technology provider serving the online betting and gaming industry. Founded in 1999, the company delivers a fully integrated technology platform spanning casino, live casino, sports betting, bingo and poker products.

Playtech operates across more than 50 regulated and regulating jurisdictions worldwide, supplying software, content and services to gaming operators globally.

Knights Group Holdings plc (LSE:KGH) reported a strong trading performance for the year ended 30 April 2026, with revenue expected to increase 28% to approximately £207 million. Organic growth accelerated in the second half of the year, reaching double-digit levels after a more subdued first-half performance.

Underlying EBITDA is projected to rise 19% to around £51 million, while underlying profit before tax is expected to increase 18% to roughly £33 million. The company said disciplined working capital management and stable debtor days supported cash generation throughout the period.

Acquisition strategy continues to expand regional presence

Knights maintained a solid balance sheet during the year, with net debt remaining broadly unchanged at approximately £65.4 million despite around £17 million of cash spending on acquisitions.

The group continued executing its buy-and-build strategy through the acquisitions of Birkett Long, Rix & Kay and Le Gros Solicitors, strengthening its presence across the South East of England and Wales.

Management also highlighted low employee turnover and a healthy acquisition pipeline, including ongoing discussions involving Moore Barlow LLP, as evidence of continued confidence in the company’s expansion strategy and operating model.

Outlook and market considerations

Knights Group’s outlook is supported by solid financial performance, continued revenue growth and healthy operating cash generation. Technical indicators also remain favourable, with the shares trading above major moving averages and reflecting strong market momentum.

However, valuation remains a potential concern, with the company trading on a comparatively high price-to-earnings ratio. Technical indicators suggesting overbought conditions may also increase the risk of near-term volatility.

More about Knights Group

Knights Group Holdings plc is a UK legal and professional services firm and ranks among the country’s 50 largest law firms by revenue. Unlike the traditional partnership structure used by many law firms, Knights operates as a corporate business model.

The company focuses primarily on regional UK markets outside London and provides services across corporate law, commercial advisory and private wealth management through a network of 29 offices nationwide.

Science Group plc (LSE:SAG) said it expects performance in 2026 to remain resilient and in line with board expectations despite geopolitical uncertainty and delays affecting UK defence contract awards.

Revenue is anticipated to be lower than the previous year as the company intentionally reduces lower-margin defence-related work, a move management said should contribute to improved overall margins. Science Group continues to maintain a strong financial position, supported by significant cash reserves, net funds and access to an undrawn revolving credit facility, with management prioritising adjusted operating profit, margin expansion and cash generation.

Defence operations and technology divisions

The company said its Sagentia Services division remains broadly well positioned, although activity tied to UK defence markets has been affected by delayed procurement decisions.

Meanwhile, CMS2’s submarine-related systems business has proven more resilient and could secure contracts capable of supporting growth visibility into the 2030s.

Frontier’s DAB+ and SmartRadio operations continued to perform steadily, with shipments now underway for its new Auria connected audio platform. However, management cautioned that consumer electronics demand could remain pressured by broader macroeconomic weakness and potential price inflation.

Share buybacks and capital allocation

Over the past year, Science Group returned more than £24 million to shareholders through dividends and share buybacks, while also reducing its voting share capital. Management said these returns have been funded organically alongside continued growth and maintenance of a strong balance sheet.

The board indicated it intends to continue — and potentially increase — the company’s buyback programme. Science Group is also evaluating broader capital allocation options, including the possibility of higher shareholder returns if suitable acquisition or investment opportunities do not emerge.

Management added that the company’s relatively modest valuation on the London market remains a limiting factor in pursuing larger corporate ambitions.

Outlook and valuation considerations

Science Group’s outlook is supported by solid profitability, conservative balance sheet management and comparatively attractive valuation metrics, including a relatively low price-to-earnings ratio.

However, these positives are partly offset by weaker technical indicators, with the share price trading below key moving averages and negative MACD signals pointing to softer market momentum. Recent share buyback activity nevertheless provides an additional supportive factor for investor sentiment.

More about Science Group

Science Group plc is an international science, engineering and technology consultancy and systems business operating across multiple sectors. Through its Sagentia Services division, the company supports clients in industries including MedTech, consumer products, food and beverage, defence and industrial markets.

Other divisions include CMS2, which specialises in defence systems, and Frontier, which focuses on connected audio and digital radio technologies.

Eco Atlantic Oil & Gas Ltd (LSE:ECO) has entered into an agreement to farm down a 37.5% working interest in South Africa’s offshore Block 1 CBK to Navitas Petroleum LP, which will become operator of the licence once regulatory approvals are secured and a US$4 million payment is completed.

Under the arrangement, Eco Atlantic will retain a 37.5% interest in the block while also benefiting from a capped US$7.5 million carry covering part of the work programme. The company may also adjust its retained position through an existing option agreement with local partner OrangeBasin Energies.

Strategic partnership expansion

The transaction further strengthens Eco Atlantic’s partnership with Navitas Petroleum, combining Eco’s exploration exposure across high-impact Atlantic Margin acreage with Navitas’ offshore production and development expertise gained in the U.S. Gulf and South Atlantic regions.

Management said the agreement is expected to reinforce Eco Atlantic’s balance sheet, reduce risk across its Atlantic Margin portfolio and support the advancement of exploration activity in South Africa.

The company added that the deal complements its broader collaboration with Navitas across projects in Namibia, the Falkland Islands and Guyana, supporting longer-term growth opportunities and shared-risk development strategies across its offshore assets.

More about Eco Atlantic Oil & Gas

Eco Atlantic Oil & Gas Ltd is an exploration-focused oil and gas company listed on both AIM and the TSX Venture Exchange. The group concentrates on offshore Atlantic Margin opportunities, with interests spanning Guyana, Namibia and South Africa.

Eco Atlantic targets low-carbon-intensity oil and gas developments located near established infrastructure, holding both operated and non-operated stakes across a portfolio of offshore petroleum licences in emerging energy markets.