EARNINGS AND TRADING: Physiomics deal wins; Watkin Jones revenue down

Wed, 27th May 2026 13:32

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

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Physiomics PLC - Oxford, England-based mathematical modelling company, which focuses on medical drug development - Has secured multiple new deals worth over GBP345,000 in total so far in May. "The awards comprise a combination of new and follow-on engagements with respected UK and international biotechnology and oncology-focused organisations, including a Nasdaq-listed clinical-stage biotechnology company, clinical-stage therapeutics developers, and leading cancer research groups. The contracts further reinforce Physiomics' growing reputation as a trusted scientific partner across the biotech and pharmaceutical sectors," the firm says.

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Watkin Jones PLC - London-based property developer - Pretax loss in six months to March 31 narrows slightly to GBP888,000 from GBP918,000, though revenue declines 22% to GBP100.2 million from GBP129.2 million. "Whilst we monitor the evolving geopolitical and economic backdrop and the consequential impacts on both market confidence and liquidity, the Group continues to focus on the factors within our control," the company says.

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Steppe Cement Ltd - Kazakhstan-focused cement producer - The Kazakh cement sector sees "significant growth in 2025". Steppe's revenue climbs 20% to USD101.5 million in 2025, from USD84.9 million, sending pretax profit to USD5.3 million, jumping from USD51,580. "The Kazakh cement market experienced significant growth in 2025, with consumption increasing by more than 20% to exceed 14 million tonnes, supported by residential construction, infrastructure projects and ongoing urbanisation. Steppe Cement maintained a 14.4% market share of the cement market while increasing sales volumes by 21% to approximately 2.07 million tonnes through improved operational reliability and increased clinker production," the firm says.

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RC Fornax PLC - provider of engineering solutions to the UK defence industry - Pretax loss widens to GBP1.0 million in the six months to the end of February from GBP59,726 a year earlier. Revenue falls 12% to GBP2.2 million from GBP2.5 million. CEO Paul Reeves says: "The structural case for RC Fornax's services has never been stronger. The UK's transition to a war-fighting readiness posture demands precisely the kind of agile, outcomes-focused capability we deliver. With GBP5.7 million in [financial 2026] revenue visibility, a well-funded balance sheet and a pipeline of high-quality opportunities at advanced stages, I am confident in the company's ability to deliver a materially improved second half and a stronger full year and beyond."

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Sundae Bar PLC - operator of a unified marketplace for artificial intelligence agents - Pretax loss in first half ended March 31 amounts to GBP575,242, largely unchanged from GBP575,754 a year prior. Revenue amounts to GBP7,944, against none a year prior. Sundae Bar reports other operating income of GBP711,948, also against none a year prior.

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Adnams PLC - Suffolk, England-based premium beer and spirits maker and pub chain - Pretax loss in 2025 narrows to GBP748,000 from GBP2.8 million, though revenue declines to GBP63.7 million from GBP68.1 million. Adnams notes "very challenging market conditions". "Revenues were stable in its direct on trade business, growing in off trade and on a like for like basis in its managed and tied estate. Retail continued to experience pressure on revenues, where trading conditions on the high street remained challenging," the firm says. "Looking to the future, the company said that it is fully focussed on the core tasks of improving the trading performance of the company through investing and growing returns in its hospitality business, driving efficiency in its brewing and streamlining operations business wide, whilst continuing to reduce borrowings."

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Deltic Energy PLC - London-based investment firm with an exploration and appraisal portfolio in the southern and central North Sea - Deltic receives payment of USD1.0 million from Dana Petroleum. These relate to costs incurred by Deltic and repayable by Dana as part of the farm-out of 25% of Licence P2347, containing the Selene prospect.

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Aptitude Software Group PLC - London-based finance software firm - Hails "positive operational progress in the year to date". It says its Fynapse offering "continues to see positive market traction". "New Fynapse wins in FY26 to date include a UK telecommunications company (over GBP1 billion revenue) and a global insurance brokerage firm (over USD5 billion revenue), further demonstrating ongoing growth in demand for modern finance architectures capable of supporting real-time operations, automation and AI-ready finance data," Aptitude Software says. Aptitude Software is currently in a strategic review, with a "range of options" being considered.

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ImmuPharma PLC - London-based specialist drug discovery and development company - Pretax loss in 2025 narrows to GBP2.2 million from GBP2.8 million in 2024, with no revenue recorded in either year. "ImmuPharma is entering a pivotal phase, focused on securing a commercial partnership for P140 in 2026 while continuing to develop its broader portfolio, with a key focus on fast tracking Kapiglucgaon over the next two years. The board remains confident in the underlying science and long-term potential of the company's assets, while recognising that near-term progress, is closely linked to achieving key strategic milestones," Chair and Chief Executive Officer Tim McCarthy says.

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Livermore Investments Group Ltd - investment company focused on fixed income instruments - Net asset value per share at end of 2025 stands at USD0.84, flat on-year. Livermore adds: "2025 was a year marked by heightened trade and policy uncertainty, continued geopolitical tension, and growing excitement and anxiety over developments in Artificial Intelligence. The most significant development during the year was the return of a more protectionist policy stance in the US following the commencement of President Trump's second term. The renewed emphasis on tariffs and economic nationalism contributed materially to uncertainty surrounding global trade, capital flows and corporate decision-making."

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By Eric Cunha, Alliance News news editor

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