UK small-cap RNS · 21 Oct 2026

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

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07:00

Halfords Group HFD £570m
Trading update for the 26 weeks to 2 October 2026 Trading update
−8.6% on the day
07:00

Malvern International MLVN £2.8m
Trading update Trading update
Pathways 2026/27 student numbers are now guided to 775-900, below 2025/26's 966 and the earlier plan of growth, and FY27 is no longer expected to return to profit, pushing recovery out again.

Upgrade / downgrade cycle below expectationsoutlook negative, loweredfirst in 1 year −19.5% on the day

Moved: London Met University partnership: Signed; recruiting staff ahead of September intake → First intake delivered, strong; launched autumn 2026 · new: Pathways recruitment shortfall and reset – 2026/27 numbers guided down; FY27 profit hope withdrawn
07:00

Titon Holdings TON £9.3m
Full Year Trading Update Trading update
Revenue of £17.1m matches the roughly £17m guided in August, but gross margin fell to 28.5% from 32.9% and cash dropped to £1.4m. Margin recovery is again pushed to FY27.

Turnaround plan with targets in lineoutlook positivefirst in 7 months +0.0% on the day

Moved: Turnaround and 2028 targets: FY26 guidance cut; recovery pushed to FY27 → FY26 revenue as guided; margin recovery expected in FY27
07:00

CelLBxHealth plc CLBX £6.8m
Q3 Trading Update and FY 2026 Outlook Trading update
FY2026 revenue guidance is cut to about £1.8m from at least £2.1m, which was only reaffirmed on 15 July. The company blames the operational realignment for slower revenue timing.

Balance-sheet stress / refinancing below expectationsoutlook mixed, lowered −12.9% on the day

Moved: Restructuring and turnaround: Costs cut; CEO search under way → Guidance cut; cash runway shortened; CEO search continues · new: Cash runway and funding – Cash £1.4m; runway to Q1 2027
07:00

Hercules Plc HERC £30m
Trading Update Trading update
Expects FY26 revenue, underlying EBITDA and statutory PBT all above market expectations after a weak H1 and a dropped interim dividend, though the market's own expectation was a statutory PBT loss of £1.6m.

Upgrade / downgrade cycle £130.0m · 430% of mcapahead of expectationsoutlook positive, raisedfirst since Oct 2023 +8.8% on the day

Moved: Power and energy sector expansion: Dedicated division launched 3 Aug 2026 → Division growing; revenue up 11% in FY26 · UK water sector contract wins: Further c.£5m Thames Water-region awards in Q4 FY2026 → Record year expected; revenue up 25%
07:00

Hardide HDD £94m
Year End Trading Update Trading update
FY26 revenue of £13.5m is in line with market revenue expectations, but EBITDA of £5.8m and PBT of £4.9m beat consensus (£5.5m, £4.6m) on cost management. The £13.5m revenue does, however, only just clear the £13.4m the Board set in July.

Upgrade / downgrade cycle £13.5m · 14% of mcapahead of expectationsoutlook positivefirst since Oct 2023 +7.2% on the day

Moved: Medium-term revenue doubling target: Doubling now due in FY26; new ambition set → FY26 revenue doubled; FY27 growth targeted · Three new coating reactors: Board approved £4.5m investment on 22 July 2026 → Deposit paid; on stream in H2 FY27 · New North American energy customer: Fourth order covers rest of FY26 → Fifth order; new part generation shipped
07:00

Domino's Pizza Group DOM £827m
3rd Quarter Trading Statement Trading update
The Board only confirms full-year earnings expectations in line with the market, not a raise. Growth continued after the World Cup boost, and costs are fixed into FY27, which supports credibility after a weak FY25.

in lineoutlook positivefirst in 6 months −3.5% on the day
07:00

Liontrust Asset Management LIO £171m
Trading Statement Trading update
Net outflows of £459m were well below last year's £1.2bn and AuMA edged up to £24.1bn. But UK retail still lost £666m, and AuMA had slipped to £24.0bn by 16 October.

Upgrade / downgrade cycle outlook positive −3.4% on the day

Moved: Net outflows and return to inflows: Outflows narrowing; retail outflows persist → Outflows narrowing; retail outflows persist
07:00

Sigmaroc SRC £1,306m
Q3 Trading Update Trading update
Nine-month EBITDA up 7.5% with margin up 120bps, and the Board only says its full-year view is unchanged against consensus (EBITDA £280m, EPS 11.6p), so guidance is confirmed, not raised.

in lineoutlook mixed −5.8% on the day

Moved: Acquisition-led consolidation: First acquisition (Dolomitas) agreed; completion Q4 2026 → Dolomitas agreed; completion expected later in 2026