EARNINGS AND TRADING: ATC revenue rises; First Class disposal update

Wed, 03rd Jun 2026 19:23

(Alliance News) - The following is a round-up of trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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Tan Delta Systems PLC - provider of oil-quality monitoring and maintenance systems for commercial and industrial equipment - Reports revenue of GBP1.2 million for 2025, flat from 2024. Pretax loss widens to GBP1.6 million from GBP1.2 million. "This year has seen continued solid progress towards largescale rollouts and widescale market adoption. Multiple customers are progressing paid-for evaluations of our real time oil analysis solutions with a view to future fleet rollouts and long term adoption. We currently have visibility of future prospects potentially worth more than GBP75 million," says Chief Executive Officer Chris Greenwood.

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Eleco PLC - London-based software provider for the construction and built environment sectors - Chair Mark Castle notes "continued progress" over the first four months of 2026. "Eleco continues to deliver on its growth strategy and to be well positioned for the future in the markets it serves. The Board remains confident in the outlook and trading remains in line with market expectations for the full year," Castle adds.

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Imaging Biometrics Ltd - London-based healthcare imaging software company - Release IB Nimble 2, a "substantially upgraded" version of its secure mobile and web-based platform for multidisciplinary clinical collaboration. The platform is designed to support tumour board discussions, complex disease management workflows, and emergent care settings. Additionally, the distribution agreement with GE HealthCare now covers QSMetric and FTB Express Maps alongside the existing IB Neuro and IB Delta T1 products, giving the company software access to GE's installed base of MRI systems worldwide. QSMetric is a patented, FDA-cleared quantitative susceptibility mapping solution developed and validated at Weill Cornell Medicine. Regarding Kirkstall Ltd, which Imaging Biometrics acquired in 2025, says new distribution partners have been added in recent months, "further expanding commercial reach." The Quasi-Vivo organ-on-a-chip platform is now in active use in pharmaceutical research, toxicology, and disease modelling. Lastly, Imaging Biometrics is preparing results of its phase 1 clinical trial of oral gallium maltolate for journal submission. Expects submission in 2026. The group retains contractual rights to the Phase 1 data for regulatory and commercialisation purposes. Chief Executive Officer Trevor Brown says: "Imaging Biometrics enters this AGM with commercial momentum that is genuine and measurable...Our expectation of progress towards profitability in 2026 is unchanged."

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First Class Metals PLC - Ontario, Canada-focused gold and critical metals explorer - Agrees material commercial terms on the potential disposal of one of its properties. This follows the signing of a non-binding letter of in intent in June 2025. "The company believes the transaction, once completed, would represent a significant milestone for the company, providing substantial non-dilutive funds outside of traditional funding sources, whilst maintaining exposure to future additional funding opportunities associated with the property," First Class says. The definitive transaction documentation is close to being finalised. Chief Executive Officer Marc Sale comments: "This transaction has been the main focus of management's efforts for a considerable time and I personally have dedicated significant time to progressing this 'deal'. I feel we are nearing the finish line and the rewards to the company will have been worth the efforts. Separately I am pleased with our progress at the start of the 2026 field season and feel this could be a defining year for FCM."

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Cindrigo Holdings Ltd - Guernsey, Channel Islands-based renewable energy developer and producer - Updates on the strategic investment and proposed Fuelwood Finland Oy joint venture announced in April. Says banking arrangements required to facilitate the transaction have now been finalised and it can expect to receive funds shortly. Back in April, Cindrigo entered binding agreements with a strategic investor group for over GBP11 million in investments and guarantees "to support and strengthen the group's development". The deal provides for the expansion of its biomass operations through the joint development of an integrated sustainable wood pellet business via Fuelwood.

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ATC Music Group PLC - London-based music talent management, live booking and merchandising firm previously called All Things Considered - 2025 revenue climbs to GBP67.4 million from GBP50.9 million a year prior. Pretax loss widens to GBP2.7 million from GBP109,000. Says in light of "significant" acquisition opportunities available, does not expect to pay dividends in near term and that the policy remains under review. "The board remains committed to a disciplined capital allocation policy that prioritises investment in the business to drive growth through targeted acquisitions. The board believes that the opportunities ahead of the group are significant and is confident in the long-term structural growth drivers supporting the business," ATC adds. Says trading momentum in the first half of the year has continued, in line with management expectations. Chief Executive Officer Adam Driscoll comments: "2025 was a pivotal year for ATC. Our transition to AIM and the successful fundraise have provided a strong platform to continue executing our strategy, enabling us to drive revenue growth, deepen artist engagement and maximise returns from our expanding events pipeline. We remain focused on disciplined growth, supported by a highly experienced management team and an increasing emphasis on operational efficiency."

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European Green Transition PLC - Green economy asset developer - Pretax loss narrows to GBP1.3 million in 2025 from GBP2.1 million in 2024. Declares no revenue, unchanged from 2024. Continues to target annual revenue of GBP50 million and a double-digit Ebitda margin. "We will seek to achieve this by scaling our existing wind energy services business organically, capitalising on the significant repowering opportunity and pursuing selective bolt-on acquisitions that expand our service offering," it says. Chair Cathal Friel says the company is "firmly focused on execution through integrating the Wind Energy Services business, delivering organic growth and pursuing further value-accretive acquisitions".

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Zenith Energy Ltd - energy production company with interests in the US, Italy, and Tunisia - Signs exclusivity agreements with Reabold Resources PLC and Portillion Capital Ltd in connection with its potential acquisition of 82% of Daybreak Oil and Gas Inc. Under the agreements, Zenith is granted a 90-day exclusivity period to conduct customary due diligence and negotiate the proposed transactions. During this period, Portillion and Reabold have agreed not to engage any competing discussions or transactions in respect of their interests in Daybreak. "The proposed acquisition reflects Zenith's strategy of maximising the value of Leopard Energy Inc, its publicly traded US subsidiary...Any shareholdings successfully acquired may ultimately be held through Leopard Energy or another designated subsidiary within the Zenith group, reflecting the company's focus on building a larger portfolio of revenue-generating US energy assets in a favourable oil price environment," company says.

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Landore Resources Ltd - North America-focused precious, base and battery metal exploration and development company - 2025 pretax loss widens to GBP2.8 million from GBP2.5 million in 2024. Administrative expenses rise to GBP2.2 million from GBP2.1 million. Exploration costs increase to GBP1.0 million from GBP527,455. Says core objective remains "to crystallise the inherent value of the BAM Gold Project while systematically advancing the broader Junior Lake and wider portfolios." Adds: "As we look ahead to 2026, Landore is entering a pivotal period. The updated mineral resource estimate will serve as a cornerstone for the next chapter of project development and strategic decision-making. With a strengthened asset base, an experienced leadership team and a clear pathway forward, the Group is well positioned to deliver on its objectives and to generate meaningful value for shareholders."

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Tomahawk Metals PLC - London-based firm building a portfolio of antimony, gold and silver projects in Western Australia and Slovakia - Completes acquisition of the high grade Koolyanobbing Gold Project in Western Australia from Mining Equities Pty Ltd. "The exposure to high grade gold in the Tier 1 mining jurisdiction of Western Australia with extensive previous gold production history provides a compelling addition to Tomahawk Metals," company says. In addition to the GBP10,000 paid to enter the option agreement, transfers of 2.3 million shares worth total GBP45,000 as payment.

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By Aidan Lane, Alliance News reporter

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