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UK small-cap RNS · 15 Apr 2026

Every announcement of UK small & mid caps under £2bn. The ones that started or moved a situation are marked – a click opens it.

  1. 07:00
    Trading Update & £20m Share Subscription Facility Trading update
    This is the first quantified FY2026 guidance (at least €7.8m revenue), not an upgrade. FY2025 revenue of €6.4m also landed below the €6.5m-€6.8m range given in December.
    Project milestones £20.0m · 235% of mcapoutlook mixedfirst since Oct 2023 +13.1% on the day
    Moved: CEO succession: Search underway, interim executive chair in place → Final stages with preferred candidate · new: GEM share subscription facility – Agreed; fee shares admitted 16 April 2026 · new: Test order conversion programme – Ten tests running or about to start
  2. 07:00
    Q1 2026 Trading Update Trading update
    Q1 matches Board expectations and the 2026 net fee guidance is unchanged. After three years of decline, fees are only down 2% and March was up 5%, so the recovery looks to be continuing.
    Upgrade / downgrade cycle in lineoutlook mixed +7.6% on the day
    Moved: Market recovery and 2026 NFI: 2026 NFI still slightly below 2025 → Q1 in line; guidance unchanged, March fees up · Cost savings and portfolio management: Interim CFO with transformation brief appointed → Cost run rate cut further; headcount flat
  3. 07:00
    Q3 2025/26 Trading Update Trading update
    Full year underlying LFL operating profit expected to be at least £68m 1
    +17.9% on the day
  4. 07:00
    AGM and Q1 2026 Trading Update Trading update
    The $145-$155m EBITDA guidance is only retained, not raised, so the rule's 'upgrade' reading is wrong. Q1 is in line with expectations, with earnings weighted to H2 on a 40:60 split.
    Turnaround plan with targets in lineoutlook positive −5.5% on the day
    Moved: EMEA restructuring: Savings of c.$11m annualised; Fordoun closure due June 2026 → On track; cost programme accelerating, segments to merge · Middle East conflict exposure: Possible order slippage; company sees minimal 2026 exposure → Tender slippage; minimal profit impact expected · Share buyback programme: $60m buyback near completion; second $40m proposed → Ongoing; second $40m proposed
  5. 07:00
    Half Year Trading Update Trading update
    Half Year Trading Update & Notice of Results
    first in 11 months +2.3% on the day

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