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SkinBioTherapeutics (LSE:SBTX) expects revenue to increase approximately 20.5% to £4.7 million for the financial year ended 30 June 2026, according to a pre-close trading update.

The AIM-listed skin health and life sciences company anticipates an adjusted EBITDA loss of £1.6 million, while its cash balance declined to £1.5 million following exceptional costs associated with an investigation conducted earlier in the year.

The company also confirmed the permanent appointments of Rachel Parsonage as chief executive officer and Alyson Levett as chair, following their periods in interim positions.

Management said early trading in FY2027 was ahead of internal expectations, with the board prioritising revenue growth, operating performance and cash management.

Revenue Expected to Increase 20.5% to £4.7 Million

SkinBioTherapeutics expects to report revenue of approximately £4.7 million for FY2026, representing growth of 20.5% compared with the previous financial year.

The increase was primarily driven by a full-year contribution from Bio-Tech Solutions, alongside modest growth in other parts of the business.

The group operates across skin health, consumer wellness, contract manufacturing and distribution.

Its portfolio includes Dermatonics, Bio-Tech Solutions and AxisBiotix, alongside its proprietary SkinBiotix technology.

The revenue figures remain preliminary ahead of the publication of the company’s full-year results.

Adjusted EBITDA Loss Expected at £1.6 Million

SkinBioTherapeutics anticipates an adjusted EBITDA loss of £1.6 million for the financial year.

The company also reported a reduction in its cash balance to £1.5 million.

Exceptional costs associated with the investigation conducted earlier in the year amounted to £1.2 million and contributed to the reduction in cash.

Management stated that the company’s remaining cash reserves were sufficient, although the supplied announcement does not specify a cash runway or provide further details of future funding requirements.

The board has identified cost control and cash management as priorities for FY2027.

Rachel Parsonage Confirmed as Chief Executive

SkinBioTherapeutics confirmed that Rachel Parsonage has been appointed permanent chief executive officer after serving in the role on an interim basis.

Alyson Levett has also been appointed permanent chair, having previously held the position on an interim basis.

The appointments follow a forensic investigation earlier in the year.

The company has not provided details of the investigation’s findings in the supplied update.

Levett will retain temporary responsibility for the Audit & Risk Committee while the company continues to develop its board structure.

Board Recruitment and Finance Leadership Update

SkinBioTherapeutics is continuing discussions regarding the appointment of an additional non-executive director.

The company described these discussions as being at an advanced stage, although no appointment has been confirmed.

Anita Breslin is also serving as interim chief financial officer.

The board changes form part of the company’s ongoing governance arrangements following the earlier investigation.

The company has not announced a timetable for completing the additional non-executive director appointment or making a permanent chief financial officer appointment.

Early FY2027 Trading Ahead of Internal Expectations

SkinBioTherapeutics reported that trading during the early part of FY2027 was ahead of management’s internal expectations.

The company has not disclosed specific revenue figures or quantified the extent to which trading exceeded its forecasts.

The board has identified three principal operating priorities for the new financial year: increasing revenue, improving underlying operating performance and controlling costs and cash expenditure.

These priorities follow a financial year in which revenue increased but the company continued to report an adjusted EBITDA loss.

Management intends to focus on the performance of its existing businesses while maintaining financial controls.

Skin Health and Manufacturing Operations

SkinBioTherapeutics develops products and technologies focused on skin health, including topical creams and oral supplements.

Its proprietary SkinBiotix technology originated from research at the University of Manchester.

The group also operates contract manufacturing and distribution activities for skin and healthcare products.

Its portfolio includes consumer brands and manufacturing businesses serving the beauty, wellness and dermatology markets.

Bio-Tech Solutions was the principal contributor to the group’s expected revenue growth in FY2026, reflecting its first full-year contribution.

Outlook

SkinBioTherapeutics expects to report FY2026 revenue of approximately £4.7 million and an adjusted EBITDA loss of £1.6 million when it publishes its full-year results.

The company enters FY2027 with £1.5 million in cash and a permanent chief executive and chair, while further board recruitment remains ongoing.

Management reported that early trading was ahead of internal expectations and has identified revenue growth, operating improvements and cash management as its priorities for the year.

The company’s financial performance will depend on trading across its existing businesses, operating expenditure and the execution of its stated plans.

Petro Matad (LSE:MATD) has suspended oil deliveries from its Heron-1 and Gazelle-1 wells in Mongolia’s Block XX following an instruction from PetroChina’s local subsidiary, as discussions over the 2026 Oil Sales Agreement remain unresolved.

The AIM-listed oil exploration and production company said PetroChina’s subsidiary had indicated that it could not process invoices while internal discussions with its head office continued.

PetroChina also cited temporary import suspensions associated with China’s National Day holiday and storage facilities at its Block XIX operations approaching capacity as reasons for halting deliveries.

The interruption has left Petro Matad with accumulated crude oil that remains unsold, delaying the receipt of revenue from its 2026 production.

Heron-1 and Gazelle-1 Oil Deliveries Suspended

Petro Matad has stopped delivering crude oil from its Heron-1 and Gazelle-1 wells in Block XX following instructions from PetroChina’s local subsidiary.

According to Petro Matad, the subsidiary said it was unable to process invoices while discussions concerning the 2026 Oil Sales Agreement continued at PetroChina’s head office.

The company also reported that PetroChina had identified two additional constraints affecting its ability to receive deliveries.

These included temporary import suspensions during China’s National Day holiday and limited remaining storage capacity at Block XIX.

As a result, Petro Matad has been instructed to cease deliveries, leaving accumulated crude oil awaiting sale.

The company has not disclosed the volume of unsold oil or the financial value of the delayed sales in the supplied announcement.

Oil Sales Agreement Remains Unresolved

The interruption follows continuing discussions over the terms and implementation of the 2026 Oil Sales Agreement.

Petro Matad said PetroChina’s local subsidiary had indicated that invoice processing could not proceed until internal discussions with its head office were completed.

The company has not provided a timetable for concluding the agreement or resuming deliveries.

The suspension affects Petro Matad’s ability to sell accumulated production and receive revenue from its 2026 oil operations.

No final resolution has been announced.

Company Escalates Discussions With Mongolian Authorities

Petro Matad has raised the matter through regulatory, ministerial and diplomatic channels in Mongolia.

The company reported that the issue had been escalated to senior government officials, including the Deputy Prime Minister, who has intervened in the discussions.

Petro Matad is seeking a resolution that would allow oil deliveries and the associated sales arrangements to resume.

The company has not disclosed any formal agreement resulting from these discussions or confirmed when PetroChina may begin accepting deliveries again.

Alternative Oil Buyers and Export Routes Under Review

Alongside its discussions with PetroChina, Petro Matad is exploring alternative buyers and routes to market for its crude oil.

The company is seeking to reduce its dependence on PetroChina as a sales counterparty.

The review includes potential alternative arrangements for marketing and delivering production from its Mongolian operations.

No alternative sales agreement or new delivery arrangement has been confirmed in the supplied announcement.

The company continues to pursue these options while seeking to resolve the existing sales arrangements with PetroChina.

Cash Resources Expected to Support Operations Into 2027

Petro Matad said it is managing expenditure in response to the delay in receiving revenue from its 2026 oil sales.

Despite the interruption, the company stated that it has sufficient cash resources to continue operating into 2027.

The supplied announcement does not provide a specific cash balance, expenditure forecast or estimate of the financial impact of the suspended deliveries.

The company is maintaining financial controls while working to restore oil sales and assess alternative commercial arrangements.

The duration of the interruption and the timing of future sales receipts remain unresolved.

Petro Matad’s Mongolian Asset Portfolio

Petro Matad holds 100% working interests and operatorship in the Matad Block XX and Borzon Block VII production sharing contracts in Mongolia.

Its Heron-1 and Gazelle-1 wells are located within Block XX, where the current oil delivery interruption is affecting sales arrangements.

The company also owns a 50% interest in SunSteppe, a joint venture developing utility-scale renewable energy projects in Mongolia.

Its principal activities include oil exploration, development and production, alongside its investment in renewable energy.

Outlook

Petro Matad’s immediate priority is to resolve the outstanding Oil Sales Agreement discussions and restore deliveries from Heron-1 and Gazelle-1.

The company is continuing its engagement with PetroChina and Mongolian government representatives while investigating alternative buyers and routes to market.

Management has stated that existing cash resources are sufficient to maintain operations into 2027, despite the delay in receiving oil sales revenue.

The timing of resumed deliveries, the sale of accumulated crude and the receipt of outstanding revenue will depend on the outcome of the ongoing discussions and the availability of commercial arrangements.

Luceco plc (LSE:LUCE) reported a 13.4% increase in revenue to £142.6 million for the first half of 2026, supported by growth in its Energy Transition business and higher sales across its core operations.

Adjusted operating profit increased 14.5% to £15.8 million, while the group recorded a modest improvement in operating margins despite higher commodity costs.

Energy Transition revenue, which includes electric vehicle (EV) charging and demand flexibility products and services, increased 119.5% during the period. Revenue from the core business rose 6.5%.

Following the interim performance, Luceco upgraded its full-year adjusted operating profit expectations and increased its interim dividend by 16.7%.

Revenue Increases 13.4% as Adjusted Operating Profit Reaches £15.8 Million

Luceco reported first-half revenue of £142.6 million, up 13.4% compared with the corresponding period last year.

Adjusted operating profit rose 14.5% to £15.8 million, with operating margins improving slightly.

The company said growth across its Energy Transition activities and core business supported the increase in revenue and earnings.

Higher commodity costs affected the business during the period, although the group recorded a modest improvement in its adjusted operating margin.

Luceco designs and manufactures electrification products for residential and commercial applications, including wiring accessories, LED lighting, EV chargers and portable power solutions.

Energy Transition Revenue Increases 119.5%

Luceco’s Energy Transition business recorded revenue growth of 119.5% during the first half of 2026.

The division includes EV charging products and demand flexibility solutions, forming part of the group’s wider electrification portfolio.

The increase in Energy Transition revenue contributed to the group’s overall sales growth and financial performance.

Revenue from Luceco’s core operations increased 6.5%, providing an additional contribution to the first-half results.

The company continues to develop its Energy Transition activities alongside its established electrical products business, serving customers through professional, wholesale and retail distribution channels.

Leverage Falls to 1.5 Times EBITDA

Luceco reported a reduction in leverage to 1.5 times EBITDA during the period.

The decrease was achieved despite investment in inventory ahead of an anticipated increase in second-half trading activity.

The company continues to allocate capital towards organic investment and potential bolt-on acquisitions.

Management expects the group’s financial position to support these activities while maintaining its existing operations.

The supplied announcement does not provide specific net debt or cash balance figures.

Interim Dividend Increases 16.7%

Luceco increased its interim dividend by 16.7% following the first-half results.

The dividend increase accompanies the group’s higher revenue and adjusted operating profit during the reporting period.

The company has not specified the dividend amount per share in the supplied announcement.

Luceco continues to balance shareholder distributions with investment in its existing operations and potential acquisitions.

Full-Year Adjusted Operating Profit Guidance Raised

Following the first-half performance, Luceco upgraded its expectations for full-year adjusted operating profit.

The revised outlook reflects growth in Energy Transition revenue, higher sales in the core business and management’s expectations for the second half.

The company has invested in inventory in preparation for anticipated trading activity during the remainder of the year.

Luceco has not provided a specific revised full-year adjusted operating profit figure in the supplied announcement.

The group’s outlook remains subject to trading conditions, including commodity costs and demand across its electrification markets.

Board and Management Appointments

Luceco appointed Dr Thorsten Müller as its new chief executive officer during the period.

The company also appointed a new non-executive director as part of changes to its board.

The appointments come as Luceco continues to expand its Energy Transition activities and implement its investment strategy.

The supplied announcement does not identify the new non-executive director or provide further details of the management transition.

Outlook

Luceco expects its financial performance to benefit from continued activity across its Energy Transition and core businesses during the remainder of 2026.

The group has upgraded its full-year adjusted operating profit expectations following first-half revenue growth of 13.4% and a 14.5% increase in adjusted operating profit.

Management anticipates higher trading activity in the second half and has increased inventory in preparation.

The company’s priorities include developing its EV charging and demand flexibility activities, investing in its existing operations and assessing bolt-on acquisition opportunities.

Sunda Energy (LSE:SNDA) announced an oversubscribed equity fundraising of £5.25 million before expenses to support its proposed acquisition of Matahio Energy NZ Limited and fund activities across its Asia-Pacific oil and gas portfolio.

The AIM-listed company has secured commitments from existing shareholders and new institutional and private investors through a placing and subscription.

Sunda also plans to launch a retail offer of up to £525,000 through the WRAP platform, potentially increasing the total fundraising to £5.775 million before expenses.

Part of the fundraising remains conditional on shareholder approval at a general meeting scheduled for October 2026. If the relevant resolutions are not approved, the conditional fundraising will lapse and the company will need alternative financing to complete the acquisition.

Placing and Subscription to Raise £5.25 Million

Sunda has arranged an equity placing and subscription expected to raise £5.25 million before expenses.

The fundraising attracted commitments exceeding the amount offered, according to the company, with participation from existing shareholders and new institutional and private investors.

The transaction is structured in two tranches, comprising firm and conditional share issuances.

The conditional tranche requires shareholder approval to authorise the issue of new shares and disapply statutory pre-emption rights.

An additional retail offer of up to £525,000 will be made available through the WRAP platform and will also be subject to the required shareholder approvals.

The company has not disclosed the issue price, number of new shares or the allocation between the firm and conditional tranches in the supplied announcement.

Proceeds to Fund Matahio NZ Acquisition

Sunda intends to use the net proceeds primarily to fund the completion payment and associated transaction costs for its acquisition of Matahio Energy NZ Limited.

Any remaining funds will support the company’s existing oil and gas projects in Timor-Leste and the Philippines.

The acquisition forms part of Sunda’s strategy to expand from exploration activities into a business combining exploration, development and production.

Completion would provide the company with producing oil and gas assets, reserves and an established operating platform in New Zealand.

The transaction remains dependent on the availability of the required financing and satisfaction of the relevant completion requirements.

Shareholder Vote Scheduled for October

Sunda plans to hold a general meeting in October 2026 to seek approval for the resolutions required to complete the conditional elements of the fundraising.

Shareholders will be asked to authorise the issuance of additional shares and disapply pre-emption rights.

Approval is required for the conditional placing and subscription shares, as well as the proposed retail offer.

If shareholders do not approve the resolutions, the conditional fundraising will not proceed.

In that event, Sunda would need to secure alternative financing to complete the Matahio NZ acquisition.

The company has not specified the amount of alternative financing that would be required in the supplied announcement.

Matahio NZ Operates Five Taranaki Basin Permits

Matahio Energy NZ Limited owns and operates five onshore petroleum mining permits in New Zealand’s Taranaki Basin.

The assets produced an average of 1,028 barrels of oil equivalent per day (boepd) during 2025.

Production was predominantly weighted towards oil, with gas accounting for a material component.

The acquisition would provide Sunda with existing production infrastructure and an established local operating team.

It would also introduce operating cash flow and reserves into the group’s portfolio, subject to completion of the transaction.

New Zealand’s government has indicated an intention to address declining domestic gas production, providing part of the policy context for Sunda’s proposed investment.

Acquisition Would Expand Sunda’s Asia-Pacific Operations

Sunda currently holds oil and gas interests in Timor-Leste and the Philippines.

The proposed acquisition of Matahio NZ would extend its operations into New Zealand and add producing assets to its existing exploration portfolio.

Management intends to develop the company into a full-cycle exploration and production business, combining established production with exploration and development opportunities.

The New Zealand assets would provide an operating platform alongside Sunda’s existing Southeast Asian projects.

The acquisition remains proposed rather than completed, and the anticipated operational and financial contributions are dependent on the transaction proceeding.

Next Steps

Sunda’s immediate priorities are to complete the fundraising process, obtain the necessary shareholder approvals and secure the financing required for the Matahio NZ acquisition.

The October general meeting will determine whether the conditional fundraising and retail offer can proceed under the proposed structure.

If approved and completed, the acquisition would add five producing petroleum permits in New Zealand to Sunda’s portfolio.

The company intends to allocate any remaining fundraising proceeds to its projects in Timor-Leste and the Philippines.

East Star Resources (LSE:EST) reported progress across its copper and gold projects in Kazakhstan during the first half of 2026, with drilling underway at the Verkhuba copper deposit under its fully funded joint venture with Xinhai.

The exploration and development company also advanced its gold exploration partnership with Endeavour Mining and continued early-stage exploration at the Piket and Snowy licences.

Following the reporting period, Xinhai completed its initial funding obligations, the Verkhuba licence was transferred into the joint venture company, and drilling exceeded 3,400 metres.

East Star also signed a farm-in agreement with Nova covering the Rulikha copper project, establishing an additional partnership intended to advance a copper asset towards production.

Verkhuba Copper Drilling Exceeds 3,400 Metres

East Star progressed its Verkhuba copper project during the first half of 2026 through a joint venture with Xinhai.

Drilling commenced under the fully funded arrangement, marking the start of field execution following the establishment of the partnership.

After 30 June 2026, Xinhai completed its initial funding commitments, and the Verkhuba licence was transferred into the joint venture company.

The partners also completed more than 3,400 metres of drilling following the reporting period.

The programme is intended to support resource conversion and provide technical information for subsequent feasibility studies.

East Star has not disclosed new drilling grades, an updated mineral resource estimate or a timetable for completing feasibility work in the supplied announcement.

Endeavour Mining Partnership Advances Gold Exploration

East Star continued to develop its strategic gold exploration partnership with Endeavour Mining during the first half.

Endeavour has become a significant shareholder in East Star, alongside its involvement in the company’s gold exploration activities in Kazakhstan.

The partnership forms part of East Star’s strategy of advancing exploration projects through agreements with established mining companies.

The company did not provide specific drilling results or new resource estimates from the gold exploration programme in the supplied update.

Further work will focus on progressing exploration activities and identifying potential gold targets within the partnership portfolio.

Piket and Snowy Licences Undergo Early-Stage Exploration

East Star also advanced exploration work at its Piket and Snowy licences during the reporting period.

The licences form part of the company’s portfolio of copper and gold exploration assets in Kazakhstan.

Work at both projects is focused on identifying and assessing prospective targets, including copper porphyry and epithermal gold opportunities.

The company continued to develop its exploration footprint at Piket and Snowy following the period end.

These projects remain at an early exploration stage, with further technical work required to assess their mineral potential.

Rulikha Farm-In Agreement Adds Copper Development Project

Following the first half, East Star signed a farm-in agreement with Nova covering the Rulikha copper project.

The agreement provides an additional route for advancing a copper asset towards potential production through a partnership structure.

East Star’s stated strategy is to progress Verkhuba and Rulikha through joint venture and farm-in arrangements without further funding costs to the company.

The supplied announcement does not specify the detailed commercial terms of the Rulikha agreement, production targets or a development timetable.

The project adds to East Star’s existing copper development activities at Verkhuba.

Partnership Strategy Focuses on Project Development

East Star’s activities during the first half centred on implementing its existing copper and gold partnerships.

At Verkhuba, the Xinhai joint venture moved into drilling, followed by the completion of initial funding obligations and the transfer of the project licence into the joint venture company.

The Endeavour Mining partnership continued to advance gold exploration, while the subsequent Nova agreement expanded East Star’s copper development portfolio.

The company is using these arrangements to progress projects while limiting its direct funding commitments.

Its portfolio also includes earlier-stage copper and gold exploration licences intended to provide additional targets for future programmes.

Outlook

East Star’s immediate priorities include continuing work at Verkhuba following the completion of more than 3,400 metres of drilling and progressing the technical studies required for resource conversion and feasibility assessment.

The company also intends to advance the Rulikha copper project through its farm-in agreement with Nova.

Gold exploration under the Endeavour Mining partnership and early-stage work at Piket and Snowy remain part of its broader development programme.

Further information on mineral resources, project economics and potential production schedules will depend on the results of exploration and subsequent technical studies.

Transense Technologies (LSE:TRT) reported a 17% decline in revenue to £4.63 million for the financial year ended 30 June 2026, reflecting lower royalty income from Bridgestone’s iTrack system and a reduction in Translogik sales.

The AIM-listed sensor and measurement technology company recorded 20% revenue growth in its SAWsense division, while its year-end cash balance increased to £1.50 million.

Transense also reported that gross margins remained high during the period, as the company continued to focus on cash generation and investment in production capabilities.

Management is targeting further commercial development across both operating divisions during FY2027, including expansion into additional industrial markets and broader customer relationships.

Revenue Declines as Bridgestone Royalty Income Falls

Transense reported total revenue of £4.63 million for FY2026, representing a 17% decrease compared with the previous financial year.

The decline was primarily attributable to a reduction in royalty income from Bridgestone’s iTrack off-highway tyre monitoring system.

Sales in the Translogik division also decreased slightly, reflecting subdued demand from established tyre industry customers.

These reductions were partially offset by revenue growth in SAWsense, which increased sales by 20% during the year.

The company maintained high gross margins despite the overall reduction in revenue.

SAWsense Revenue Increases 20%

Transense’s SAWsense division recorded a 20% increase in revenue during FY2026.

The business develops sensor technology based on Surface Acoustic Wave (SAW) technology for applications in aerospace, automotive and industrial equipment.

During the year, Transense increased its engagement with motorsport and aerospace customers while making initial commercial progress in additional markets.

These include electric drives, industrial automation and robotics, where the company is seeking to develop higher-volume applications for its sensor technology.

Management continues to invest in production capabilities to support the division’s commercial development.

Translogik Expands Customer Base and Distribution Channels

Translogik reported a slight decline in sales during FY2026, with demand from some established tyre industry customers remaining subdued.

However, the division expanded its customer base and developed additional channel partner relationships during the year.

The company also reported new customer wins and an expanded relationship with Continental.

Under the relationship, Transense plans to introduce bespoke TLGX products, extending its range of tyre inspection equipment.

Management expects the broader customer base, additional distribution channels and new product activity to support repeat business during FY2027.

Translogik supplies tyre inspection and measurement equipment for commercial vehicle and industrial applications.

Cash Balance Increases to £1.50 Million

Transense reported a year-end cash balance of £1.50 million, an increase compared with the previous year.

The higher cash position was recorded despite the decline in group revenue.

Management said the company continued to prioritise cash generation and maintain a disciplined approach to investment in production capabilities.

Gross margins remained high during the financial year, although the supplied announcement does not specify the margin percentage or provide detailed profitability figures.

The company is balancing investment in its sensor technology and manufacturing capabilities with its cash management objectives.

Commercial Development Targets Additional Industrial Markets

Transense is pursuing commercial opportunities for SAWsense in sectors including aerospace, motorsport, electric drives, industrial automation and robotics.

The company is seeking to expand the technology’s applications beyond its existing customer base and develop opportunities in higher-volume markets.

Within Translogik, the focus remains on broadening customer relationships, expanding distribution channels and introducing products through its relationship with Continental.

Management has set longer-term objectives for both divisions, aiming to establish their technologies across additional markets by the end of the decade.

These objectives remain dependent on customer adoption, product development and future commercial activity.

FY2027 Outlook

Transense enters FY2027 following a year in which lower Bridgestone iTrack royalties and reduced Translogik sales outweighed growth in SAWsense.

The company expects its expanded Translogik customer base and channel partnerships to support repeat business, while the planned introduction of bespoke TLGX products with Continental represents a further commercial initiative.

For SAWsense, priorities include developing existing aerospace and motorsport relationships and progressing opportunities in electric drives, industrial automation and robotics.

Management continues to focus on cash generation and investment in production capabilities as it pursues its longer-term commercial objectives.

Porvair (LSE:PRV) reported a 14% increase in revenue at constant currency for the nine months ended 31 August 2026, including organic growth of 5%, as acquisitions contributed to the specialist filtration group’s performance.

The company now expects full-year trading to be slightly ahead of market expectations, supported by demand across its aerospace, nuclear and aluminium-related businesses.

The January acquisition of Drache contributed to revenue growth during the period, while Porvair completed its acquisition of GV Filtri in September, expanding its industrial filtration operations.

Trading conditions remained mixed across the group’s end-markets, with demand in life sciences and environmental testing remaining stable, while some industrial, automotive and European markets continued to experience weaker activity.

Revenue Increases 14% at Constant Currency

Porvair reported constant currency revenue growth of 14% for the first nine months of its financial year, with organic growth accounting for 5%.

The results included a contribution from Drache, which the group acquired in January 2026.

Porvair said demand remained supportive in aerospace, nuclear and aluminium-related markets, while its life sciences and environmental testing businesses continued to trade steadily.

However, the company reported subdued activity in certain industrial and automotive markets, alongside challenging conditions in Europe.

Following the nine-month performance, management revised its full-year outlook and now expects trading to be slightly ahead of market expectations.

Aerospace and Industrial Division Reports Continued Nuclear Demand

Porvair’s Aerospace & Industrial division reported continued demand from its nuclear customers, while aerospace order books remained at elevated levels.

Petrochemical sales remained subdued during the period.

The company also identified difficult trading conditions in European industrial markets, which it expects to continue into 2027.

In September, Porvair completed the acquisition of GV Filtri, adding industrial filtration capabilities and expanding the division’s operations.

The acquisition forms part of the group’s strategy of developing its specialist filtration portfolio through targeted purchases.

Laboratory Division Records Life Sciences Consumables Growth

Porvair’s Laboratory division reported growth in life sciences consumables during the nine-month period.

Demand in environmental testing markets remained stable, while the company said its planned new product introductions were progressing according to schedule.

The division supplies filtration, laboratory and environmental technology products to specialist customers, including those operating in life sciences and analytical testing.

Porvair continues to develop its product portfolio through new introductions alongside its existing consumables business.

Drache Integration Progresses in Metal Melt Quality

The Metal Melt Quality division reported trading slightly ahead of expectations, supported by demand from aluminium-related markets.

Porvair said the integration of Drache, acquired in January 2026, was progressing according to plan.

The acquisition contributed to the group’s reported revenue growth during the nine months to August.

The division supplies specialist filtration and related products used in metal processing, including aluminium and superalloy applications.

Management continues to integrate Drache into the business as part of its acquisition strategy.

Full-Year Trading Expected to Exceed Market Expectations

Porvair has upgraded its outlook for the full financial year and now expects trading to be slightly ahead of market expectations.

The revised guidance reflects the group’s nine-month performance, including organic revenue growth, contributions from Drache and demand across several of its specialist markets.

The company has not provided a specific revised revenue or profit forecast in the supplied announcement.

Aerospace order books, nuclear demand and aluminium-related activity remain supportive of the outlook, while weaker conditions in industrial, automotive and European markets continue to affect parts of the portfolio.

Outlook

Porvair’s priorities for the remainder of the financial year include completing the integration of Drache, incorporating GV Filtri into its industrial filtration operations and progressing new product introductions in Laboratory.

The group expects trading for the full year to be slightly ahead of market expectations, although it anticipates that European industrial conditions will remain challenging into 2027.

Its three divisions — Aerospace & Industrial, Laboratory and Metal Melt Quality — continue to serve a range of specialist markets, with the company’s growth strategy combining organic development and acquisitions.

Arrow Exploration Corp. (LSE:AXL) announced that shareholders approved all resolutions at its annual general meeting held on 18 September 2026, including the election of directors, reappointment of its auditor and amendments to its stock option plan.

The oil and gas company also confirmed the appointment of ICP Securities Inc. to provide automated market making services for its shares on the TSX Venture Exchange.

The market making agreement took effect on 1 September 2026 and has an initial four-month term, followed by automatic monthly renewals.

Shareholders Approve AGM Resolutions

Arrow Exploration confirmed that shareholders approved maintaining the company’s board at five directors during its annual general meeting.

All director nominees were elected, while Ernst & Young LLP was reappointed as the company’s auditor.

Shareholders also approved amendments to Arrow’s stock option plan.

The company did not provide individual voting percentages or further details of the amendments in the supplied announcement.

The resolutions cover the company’s board composition, external audit arrangements and equity-based incentive structure.

ICP Securities Appointed as Market Maker

Arrow has engaged Toronto-based ICP Securities Inc. to provide automated market making services for its shares traded on the TSX Venture Exchange.

The appointment is intended to improve trading liquidity and efficiency by addressing short-term imbalances between buy and sell orders.

ICP will use its proprietary trading algorithm, ICP Premium®, to carry out the market making activities.

The arrangement relates to Arrow’s TSX Venture Exchange listing. The company is also listed on London’s AIM market under the ticker LSE:AXL.

Agreement Includes Fixed Fees and No Option Grants

The agreement between Arrow Exploration and ICP Securities became effective on 1 September 2026.

It has an initial term of four months, after which it will continue through rolling monthly renewals.

Arrow confirmed that the arrangement is conducted on an arm’s length basis.

ICP will receive fixed-fee compensation for its services, with no performance-based payments or stock option grants included in the agreement.

The company has not disclosed the monetary value of the fixed fees in the supplied announcement.

The market making appointment is intended to support trading activity, although its effect on liquidity will depend on subsequent market conditions.

Arrow Exploration’s Oil and Gas Portfolio

Arrow Exploration is an oil and gas company with assets in Colombia and Canada.

Its operations are concentrated in Colombia’s Llanos, Middle Magdalena Valley and Putumayo basins, where the company holds predominantly operated assets with high working interests.

The portfolio includes light oil production linked to Brent crude pricing.

Arrow’s operating strategy focuses on developing its existing hydrocarbon assets and advancing production from its portfolio.

Corporate Update

The AGM approvals confirm Arrow’s board composition, auditor appointment and amendments to its stock option plan.

Separately, ICP Securities has begun its market making engagement under the agreement effective from 1 September 2026.

The initial four-month arrangement will be followed by monthly renewals, with compensation limited to fixed fees and no performance-related payments or option grants.

The company has not provided quantitative targets for the market making programme or specified an expected increase in trading liquidity.