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UK small-cap RNS · 25 Sep 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 Trading update
    Confirms 2026 profit in line with market expectations (the lowered £2.2m-£2.6m range from August), but a £3.3m-revenue contract will not be renewed and FY2027 profit is only guided flat.
    £3.3m · 18% of mcapin lineoutlook mixed −5.9% on the day
    Moved: 2026 profit guidance: Lowered to £2.2m-£2.6m underlying operating profit → 2026 confirmed; FY2027 flat before mitigation
  2. 07:00
    Trading Statement - six months ended 30 June 2026 Trading update
    A USD 125.2m non-cash MRM impairment, from more conservative premium ruby grade forecasts, widens the H1 net loss to USD 73.5m from USD 20.5m, and the FY2025 impairment is restated up USD 30m.
    Project milestones outlook mixed −7.1% on the day
    Moved: MRM second processing plant: Contributing to volumes; sign-off still pending → Throughput proven; commissioning and optimisation ongoing

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