EARNINGS AND TRADING: Secure Trust finance chief to retire next year

Tue, 02nd Jun 2026 19:27

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

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Secure Trust Bank PLC - Solihull, England-based business and consumer lender - Chief Financial Officer Rachel Lawrence intends to retire in the first half of 2027, following "a career spanning over 35 years". She became CFO in September, 2020. Says the board has started its search for her successor, and her retirement date "should allow for a seamless handover in due course." Chair Jim Brown comments: "Rachel has helped drive significant strategic progress across the business, including its simplification, and has maintained a disciplined approach to capital management. Together, these have positioned STB well for continued growth and improved shareholder returns." Lawrence says she will depart "knowing that STB is well positioned for continued growth, supported by a robust balance sheet and a strong capital position."

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ALT Resources PLC - mining royalty and streaming company - Loss for the six months ended December 31, 2025, narrows to GBP67,921 from GBP342,047 the year before, as does its operating loss, as administrative expenses fall 80% to GBP67,921 from GBP342,047. ALT Resources notes that as of this month, it is progressing with the proposed financing transactions announced in April, in support of its proposed move to AIM. Commitments received total GBP100,000 in committed subscriptions, and the issue of unsecured convertible loan notes worth GBP108,750 to "certain investors".

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Power Metal Resources PLC - metals explorer with projects in North America, Africa, Saudi Arabia and Australia - Reports financial results for 2025. Says it "made meaningful progress during the period," capitalising on improving market sentiment. Notes its "future-facing investments in Minestarters and Apex Royalties," and the sale in August of its remaining Guardian Metal Resources PLC shares for GBP13.6 million. "2025 has established a strong foundation for Power Metal Resources, creating a robust framework and pipeline of prospective projects and diversified initiatives that have carried meaningful momentum into 2026," the firm says. "We look forward to building on this progress throughout the year against the backdrop of anticipated supportive market conditions." Revenue for the year falls to GBP76,000 from GBP200,000 and pretax profit falls to GBP3.2 million from GBP4.2 million. Power Metal incurs GBP3.8 million in "other expenses", up from nothing the year before.

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Engage XR Holdings PLC - Waterford, Ireland-based virtual reality technology company - Reports revenue of EUR1.9 million for 2025, down 43% from EUR3.3 million in 2024. Says this reflects "a changing focus in the Middle East market and a reduction in Enterprise demand globally." Loss before interest, tax, depreciation and amortisation narrows to EUR2.8 million from EUR3.9 million, which Engage XR says reflects disciplined cost control, although it is somewhat wider than the expected loss of around EUR2.4 million due to "a bad debt in the Middle East post year end". Pretax loss narrows to EUR3.0 million from EUR4.0 million. Administrative expenses decrease 32% to EUR4.8 million from EUR7.1 million. Going forward, Non-Executive Chair Karthik Manimozhi says the firm is "a leaner, more focused and more technologically capable business". Says the board is confident that its actions in 2025, plus increasing commercial momentum, position Engage XR "to deliver sustainable, recurring revenue growth and, in time, attractive returns for our shareholders."

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Tower Resources PLC - oil and gas company focused on Africa - Announces preliminary results for 2025. Remains non-revenue generating, unchanged from the prior year. "Other administrative expenses" increase to USD4.1 million from USD606,156, and Tower incurs one-off impairments totalling USD14.0 million, bring total administrative expenses to USD18.3 million from USD980,461. Cash and equivalents total USD35,779 as of December 31, down from USD284,118 one year prior. "2025 and the first few months of 2026 have been a positive period for oil prices," Chair & Chief Executive Jeremy Asher says. He adds that Tower continues to await the approval of our farm-outs in Cameroon and Namibia, "which have taken longer than we would have liked". However, he adds that "a considerable amount of work has been undertaken in the background in liaison with the various governmental departments concerned to ensure that once those approvals have been issued, Tower...is as operationally ready as it can be to commence its work programmes". Asher continues: "While we continue to keep our overheads low, the cost of maintaining readiness to drill is substantial and we have also been investing further in the well preparations themselves, notably the acquisition and delivery of the mud-line suspension system." Says he remains confident that "we will reap the benefit of our patience" in the remainder of this year.

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Time Out Group PLC - London-based media and hospitality company - Spanish-language publishing group RBA acquires Time Out's media operations in Spain under a long-term franchise partnership. Says RBA will continue to publish Time Out in Spain, and pay the firm a franchise fee. Company will continue to own and operate Time Out Market operations in Spain. Says switching to a franchise model "will enable the brand to grow faster by benefiting from RBA's scale, local expertise and multi-platform capabilities." Adds: "RBA sees Time Out as a strong addition to its portfolio, bringing a distinctive mix of digital content, experiential platforms and global brand reach, with Time Out engaging over 240 million people worldwide each month."

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By Emma Curzon, Alliance News reporter

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