TRADING UPDATES: FIH sells assets; EnQuest reiterates guidance

Fri, 22nd May 2026 13:21

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

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EnQuest PLC - oil and gas company with operations in the UK and Malaysia - Reiterates 2026 production guidance of 41,000 to 45,000 barrels of oil equivalent per day, after year-to-date output averages 41.5 Kboepd. The producer says its South East Asia portfolio is expected to deliver 35,000 boepd net to EnQuest by 2030 and notes ongoing acquisition opportunities in the region. EnQuest also highlights refinancing of its reserve-based lending facility and bonds at lower costs, alongside a USD20 million dividend proposal, subject to shareholder approval.

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Camellia PLC - Kent, England-based agriculture and engineering services firm - Notes subsidiary Goodricke Group executes sale agreement for the Chalouni Tea Estate in India for estimated gross proceeds of INR190 million, around GBP1.47 million. Says the disposal aligns with its value enhancement plan to improve operational results and reduce risk.

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FIH Group PLC - operates businesses such as construction, ferries and art storage in the Falkland Islands and UK - Says sale of its Leyton warehouse and Portsmouth Harbour Ferry business generates combined proceeds of GBP22.5 million. The group declares a 40p per share special interim dividend, payable on July 14, following the February sale of Portsmouth Harbour Ferry for GBP10.7 million. Says total shareholder returns linked to the disposals now amount to 110p per share, or around GBP13.8 million, including a 70p special dividend paid in October 2025.

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Mobico Group PLC - Birmingham, England-based public transport operator - Says Washington Metropolitan Area Transit Authority terminates its paratransit services contract with subsidiary Diamond Transportation Services from May 12. Notes Diamond filed a civil lawsuit against WMATA in January for breach of contract and says both parties remain involved in ongoing and potential further litigation. Mobico says the five-year contract, awarded in 2024 and worth around USD370 million, became unprofitable in 2025 partly due to lower-than-expected volumes and loss of exclusivity.

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RUA Life Sciences PLC - holding company of multiple medical device businesses - Expects revenue for the six months ended March 31 to rise 6% to around GBP2.8 million from GBP2.6 million a year prior, driven by growth in its UK contract development and manufacturing business and biomaterials unit. Says administrative costs fall 8% to GBP2.3 million and anticipates earnings before interest, tax, depreciation, and amortisation breakeven for the period, compared with a loss a year earlier. Separately, RUA says the recent GBP3 million fundraising and spin-out of RUA Structural Heart is expected to deliver a GBP4.9 million accounting gain and annual cash benefits.

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Checkit PLC - Cambridge, England-based workflow management software provider - Says it has received credible interest from potential acquirers since launching its formal sale process in March. The company says discussions with interested parties are ongoing, though there can be no certainty that an offer or sale will result from the process.

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East Star Resources PLC - Kazakhstan-focused copper and gold explorer - Says recent mapping and rock chip sampling at its Snowy gold project in Kazakhstan support a low-sulfidation epithermal gold model. Reports rock chip samples returned grades of up to 1.44 grammes per tonne gold, with veins traced for up to 200 metres along strike. Says an induced polarisation survey has commenced, with results expected in the second quarter of 2026, as it advances exploration work at the project.

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Manx Financial Group PLC - Douglas, Isle of Man-based provider of financial services to commercial and retail customers - Says subsidiary Payment Assist surpasses GBP1 billion in customer transactions since launching in 2013. Payment Assist provides interest-free finance for vehicle repairs and servicing through a network of more than 8,000 garages and dealerships across the UK. Group Chief Executive Officer Douglas Grant says the milestone reflects disciplined execution of the group's growth strategy and strength of its diversified business model.

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Headlam Group PLC - floorcoverings distributor - Completes the disposal of two surplus properties, taking total net proceeds from three recent property sales to around GBP15.3 million. Says the proceeds will strengthen the balance sheet and support investment in working capital. The flooring distributor adds it continues to evaluate a potential sale and leaseback of its Coleshill property.

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Time To Act PLC - Stockton-On-Tees, England-based engineering technology for energy transition supply chain - Welcomes confirmation that EET Hydrogen & Power continues to target a final investment decision on its HPP1 blue hydrogen project in the second half of 2026. Says subsidiary Diffusion Alloys is a supply-chain partner to the blue hydrogen sector through its collaboration with Johnson Matthey PLC's Catalyst Technologies unit. Time To ACT Chief Executive Officer Chris Heminway says: "While I would echo recent comments from elsewhere in the sector bemoaning continued delays from the UK government in the rollout of hydrogen projects, this renewed signal that the HPP1 project is now nearing its long overdue FID is extremely welcome. HPP1 remains extremely important for Diffusion Alloys, both financially and as part of the ongoing priority of validating its industry leading coating capabilities with internationally recognised industry leaders."

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Zinc Media Group PLC - London-based television and audio production company - Agrees to acquire Qatar-based events production firm William Martin Qatar LLC for an initial GBP400,000 in shares, with total consideration potentially reaching GBP1.1 million. Says the business generated GBP3.3 million in revenue and GBP300,000 pretax profit in 2025. Zinc Media says the acquisition supports its Middle East growth strategy and is expected to deliver revenue and cost synergies with its existing Qatar operations.

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Tekcapital PLC - London-based intellectual property investment group - Forms new portfolio company Vesari Inc to commercialise intellectual property for geothermal-powered AI data centres. Says Vesari plans to develop hyperscale AI infrastructure powered directly by geothermal energy in a behind-the-meter configuration designed to avoid grid constraints. Tekcapital says Vesari is expected to hold 11 patent applications related to geothermal-powered AI compute infrastructure following filings with the US Patent & Trademark Office.

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By Eva Castanedo, Alliance News reporter

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