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Robert Walters (LSE:RWA) reported first-quarter 2026 trading in line with expectations, with group net fees declining 2% on a constant currency basis but showing a clear improvement compared with 2025. Momentum strengthened במהלך the quarter, with a return to year-on-year growth in March. Regional performance varied, with Japan, the U.K., Spain and New Zealand delivering gains, while northern Europe and parts of the Rest of World segment remained weaker. However, the closure of underperforming operations has helped improve the underlying like-for-like trend.

The group’s recruitment outsourcing division recorded its first growth since late 2022, supported by steady client demand, a new high-volume hiring contract, and continued traction in public sector consultancy work. Management has also focused on cost discipline, reallocating resources toward revenue-generating roles, which has boosted net fee income per consultant and overall productivity. The company maintained a stable net cash position and indicated it is better positioned to benefit from any recovery in hiring activity, despite ongoing geopolitical and macroeconomic uncertainty.

From an investment perspective, the outlook remains pressured by weaker financial performance, including declining revenue, margin compression, and losses. Technical indicators reinforce a cautious view, with the share price trading below key moving averages and showing negative momentum. While positive operating and free cash flow, along with a high dividend yield, offer some support, a sharp drop in free cash generation and continued losses keep the overall risk profile elevated.

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Robert Walters plc is a global specialist recruitment and outsourcing firm, operating across Asia-Pacific, Europe, the U.K., and other international markets. The company provides permanent and contract recruitment, talent advisory services, and outsourced hiring solutions, serving both private and public sector clients with a diversified, international platform.

Oracle Power PLC (LSE:ORCP) has announced fresh drilling results from 31 holes at its Northern Zone gold project near Kalgoorlie, revealing some of the highest grades and widest intercepts recorded so far. Highlights include 15 metres at 5.62 g/t gold and 8 metres at 9.90 g/t, with drilling successfully extending shallow mineralisation—particularly across the saddle area linking the central and eastern zones. The findings support the existing geological model and point to an expanding footprint of near-surface oxide gold.

Progress on development readiness is also advancing, with the conversion of the Northern Zone licence into a mining lease described as well progressed. Heritage clearance surveys have now been completed, removing a key permitting barrier. Under a Right to Mine and Co-Operation Agreement, MEGA Resources will fully fund development and mining activities, with profits split evenly. This arrangement enables Oracle and its partners to accelerate toward potential production, subject to continued resource growth.

Despite these operational positives, the company’s broader outlook remains constrained by its early-stage financial profile, including no revenue generation, ongoing losses, and negative cash flow, which implies continued dependence on external funding. From a market perspective, technical indicators show a strong upward trend, though elevated RSI levels and volatility suggest the potential for near-term pullbacks. Valuation remains limited by the absence of earnings and dividend support.

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Oracle Power PLC is a resource development company with a focus on international natural resource projects. Its key asset is the Northern Zone Intrusive Hosted Gold Project in Western Australia, located near Kalgoorlie. The company is advancing this project in partnership with Riversgold Limited and MEGA Resources, targeting shallow oxide gold deposits that could support near-term mining opportunities.

Made Tech Group (LSE:MTEC) has been awarded a three-year contract worth £19 million to serve as Strategic IT and Security Delivery Partner to the Government Digital Service (GDS), part of the Department for Science, Innovation and Technology. The project will focus on delivering next-generation technology for GDS personnel, enhancing collaboration and productivity while improving security and mitigating cyber risks within a key pillar of the UK’s digital infrastructure.

This latest contract builds on Made Tech’s relationship with GDS, which dates back to 2018, and further cements its role in central government technology delivery. Including this award and other recent deals, the company’s year-to-date sales bookings have reached £54 million, with around £41 million secured in the second half. This provides greater confidence in management’s outlook for FY26 and enhances revenue visibility heading into FY27.

The company’s investment case is supported by improving financial performance, including a return to profitability, stronger cash generation, and a low level of debt. Positive technical momentum also underpins the shares. However, these strengths are balanced against a relatively high valuation multiple and a track record of earnings and cash flow volatility. Recent contract wins and updates add further support to the overall outlook.

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Made Tech Group plc is a UK-based provider of digital, data, and technology services focused on the public sector. The company works closely with government departments and agencies, delivering IT strategy, cybersecurity solutions, and modern digital platforms designed to enhance operational efficiency and drive public sector transformation.

Metals One (LSE:MET1), which owns a 30% stake in Lions Bay Resources with the option to increase its holding to 49.9%, said Lions Bay has submitted revised bids for selected Vantage Goldfields assets in South Africa. The proposal includes Barbrook Mines—home to a historical resource of 2.1 million ounces of gold—valued at ZAR 279 million, as well as MIMCO, the owner of the Lily Mine, which holds an estimated 2.3 million ounces of historical gold resources and is set to be acquired for a nominal ZAR 1.

Under the revised terms, Lions Bay has committed to settling outstanding salary claims owed to former employees of both Barbrook and MIMCO. To support this, US$10 million has already been placed in escrow to cover staff payments and a portion of creditor obligations, with the remaining funds to be paid following the transfer of mining rights. While the deal has backing from the appointed business rescue practitioner and the principal creditor, it remains conditional on broader creditor approval and the securing of at least US$7 million in additional funding, leaving the final outcome uncertain. Nevertheless, the move reflects Metals One’s strategy to expand its exposure to South African gold assets.

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Metals One Plc is listed on London’s AIM market and the U.S. OTCQB exchange, focusing on the development and investment in both critical and precious metals projects. The company is building a diversified portfolio spanning early-stage exploration through to a vertically integrated gold strategy in South Africa, with ambitions to incorporate power generation, mining, and processing capabilities within its overall value chain.

Quadrise Plc (LSE:QED) has confirmed that veteran board member Laurie Mutch has stepped down with immediate effect, bringing to a close a 20-year period of service marked by consistent oversight and institutional experience. Alongside his departure, Mutch has relinquished his positions as audit committee chair and as a member of both the remuneration and nomination committees. These responsibilities will now be taken on by fellow director Michael Covington.

The company noted that Mutch will remain involved in the near term to ensure a smooth transition and effective handover of duties, helping maintain governance stability as Quadrise moves closer to commercialising its low-emission fuel technologies. Chairman Andy Morrison acknowledged Mutch’s long-standing contribution, highlighting his role in shaping the group’s governance framework and supporting its strategic development as it targets growth in the decarbonisation of shipping and heavy industry.

From an investment perspective, Quadrise’s outlook continues to be weighed down by limited revenue generation, ongoing losses, and sustained cash outflows, although its relatively low debt position provides some balance sheet support. Market indicators are more encouraging, with positive momentum trends evident, but valuation remains difficult to assess due to negative earnings and the absence of dividend income. Recent earnings updates offer some reassurance through defined project milestones and expected near-term receipts, though execution risks remain.

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Quadrise Plc is an AIM-listed energy technology company focused on reducing emissions in shipping and heavy industry. The group develops and aims to commercialise cleaner fuel alternatives, including biofuels, and is transitioning from a research-led organisation toward broader commercial deployment of its solutions in global transport and industrial markets.

Frontier IP Group (LSE:FIPP), which specialises in commercialising research-driven intellectual property through stakes in spin-out businesses, holds a 9.1% interest in 2D Photonics Group. The deep-tech firm, originating from the University of Cambridge and Italy’s CNIT, focuses on accelerating the adoption of advanced technologies through early collaboration with industry partners.

2D Photonics has now been awarded €211 million in Italian state aid—one of the largest public funding packages granted to a deep-tech start-up in the country—to support the industrial rollout of its graphene-based photonics technology. The investment will fund the development of a pilot production facility near Milan, create new jobs, and enable the scaling of graphene optical interconnects. These technologies are designed to address data transfer limitations in artificial intelligence and high-performance computing, with the potential to bolster Europe’s semiconductor capabilities while enhancing the value of Frontier IP’s portfolio.

Despite this significant milestone, Frontier IP’s broader outlook remains constrained by ongoing financial pressures, including recurring losses, sustained cash burn, and increased leverage risk noted in 2025. From a market perspective, technical indicators remain supportive, reflecting strong upward momentum, although an elevated RSI suggests the shares may be overbought in the near term. Valuation remains mixed, as a negative price-to-earnings ratio highlights continued unprofitability and limits confidence in pricing metrics.

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Frontier IP Group plc is a UK-based intellectual property commercialisation specialist, focused on turning academic and research innovations into scalable businesses. The company builds value through equity stakes and licensing income in spin-outs, providing early-stage support such as fundraising, strategic guidance, and industry partnerships to help technologies reach commercial markets.

Quantum Blockchain Technologies (LSE:QBT) said its subsidiary, Clear Leisure 2017 Limited, has won a favourable judgment from the Court of Appeal in Turin. The ruling overturns an earlier decision and orders the counterparty to pay €38,500 in damages, along with statutory interest and roughly €15,000 in legal costs. The dispute relates to a 2019 transaction involving the sale of a 30% stake in Beni Immobili S.r.l., where the majority of the agreed €45,000 consideration was never settled. CL2017 subsequently acquired the outstanding receivable at a discount.

Including accrued commercial interest from December 2020, management estimates the total recovery could reach approximately €78,000 once all interest, legal fees, and associated recoverable costs are factored in. The company said the outcome supports its approach of extracting value from legacy assets and confirmed it will now pursue enforcement measures to recover the funds. While modest in scale, the expected cash inflow highlights the contribution of legal recoveries alongside its ongoing blockchain research and development work.

Despite this positive development, the company’s broader outlook remains challenged by weak financial fundamentals, including limited revenue generation, continued losses, negative equity, and sustained cash burn over multiple years. Technical indicators also point to downside pressure, with the shares trading below key moving averages and showing negative momentum signals. Valuation offers little support given the absence of profitability and lack of dividend income.

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Quantum Blockchain Technologies plc is an AIM-listed company focused on research, development, and investment in blockchain technologies. Its activities include cryptocurrency mining innovation and advanced blockchain applications, with a core emphasis on developing proprietary Bitcoin mining methods aimed at outperforming conventional industry techniques. The group positions itself as a technology-led player seeking to disrupt and advance efficiency within the blockchain sector.

Silver Bullet Data Services Group (LSE:SBDS) began 2026 on a strong footing, reporting a 22% year-on-year increase in first-quarter revenue, coming in 9% ahead of internal forecasts. Growth was supported by improved revenue quality, stronger margins, and higher client renewal rates. The company also secured notable new business, including contracts with a major European airline and a global marketing and technology partner in the Asia-Pacific region, further strengthening its international presence and client base.

After implementing cost-saving measures at the end of 2025 and increasing the use of artificial intelligence to enhance operational efficiency, the group reached a key milestone by delivering positive EBITDA in Q1 2026 for the first time. This marked a £700,000 improvement compared to the same period last year. Management expects this profitability trend to continue, with the business projected to turn cash flow positive by the end of the second quarter, reinforcing confidence in its strategic direction and growth outlook.

Despite these operational gains, the company’s broader investment profile remains weighed down by financial challenges, including ongoing losses, elevated leverage, and negative operating cash flow. While revenue growth and solid gross margins provide some support, technical indicators remain mixed and tilt negative, as the share price trades below key longer-term averages. Valuation is also constrained by the absence of earnings and a lack of dividend yield.

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Silver Bullet Data Services Group plc is a London-based provider of AI-powered digital transformation solutions, designed to help advertisers operate effectively in an increasingly privacy-focused environment. Its proprietary 4D AI advertising platform sits alongside a services division that supports major global clients, with a team of more than 85 data specialists across the UK, Italy, Australia, the United States, and Latin America.

The company has developed a growing solutions-led business with deep expertise in data engineering, SaaS development, and marketing technology. Its leadership team includes executives with backgrounds at leading global software firms, supporting Silver Bullet’s ambition to expand internationally and scale its AI-driven offerings.

M Winkworth (LSE:WINK) delivered steady revenue of £10.74 million for 2025, while pre-tax profit declined 11% to £2.11 million. A robust first half—supported by stamp duty-related activity—was offset by a softer second half as uncertainty around the Autumn Budget weighed on the market. Even so, the company remained debt-free with £3.9 million in cash, increased its annual dividend by 7%, and recorded a 6% rise in franchise network revenue, with sales contributing 52% of total group income.

During the year, Winkworth continued to scale its asset-light franchise model, opening four new offices and transferring ownership of seven franchises. It also sold its company-owned Crystal Palace branch to a franchise operator. The group reorganised its New Homes and Development division and initiated a broad cloud-based accounting and digital transformation programme aimed at enhancing efficiency and cost control. Additionally, a partnership with Peter Clarke Estate Agents expands its presence into sought-after regional markets including the Cotswolds and Stratford-upon-Avon.

The company pointed to sustained momentum in managed lettings, as regulatory pressures push more landlords toward full-service property management. This shift is helping build a more predictable, recurring income base. Backed by a solid, self-funded balance sheet and growing opportunities for consolidation—particularly as smaller agencies look to align with established brands—management sees further scope to expand its network and strengthen its competitive position despite macroeconomic and geopolitical headwinds.

The group’s overall stock assessment reflects strong fundamentals and supportive corporate developments, including stable revenue and growing shareholder returns. However, weaker technical signals indicate some downside pressure in the near term. Its valuation remains appealing, especially for investors seeking income, given the relatively high dividend yield.

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M Winkworth is a London-headquartered franchisor of residential estate agencies, specialising in the mid- to upper-tier UK property market. Through its well-established brand, the company equips independent operators with marketing tools, technology, and operational support, while continuing to grow a network of over 100 offices managing approximately 7,000 properties.