TRADING UPDATES: Headlam revenue falls; Helix agrees sales arrangement

Wed, 20th May 2026 14:58

(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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Fulcrum Metals PLC - mineral explorer in Canada - Signs agreements to acquire five surface rights totalling 270 acres at its Teck Hughes tailings project, securing long-term access for exploration, environmental studies and future development work. The company says the acquisition strengthens its land position and reduces development risk at the project. Fulcrum agrees to pay CAD220,000 in cash and grant vendors a 1.5% net smelter royalty, with options to reduce the royalty interest through further payments. Separately, the company says it will issue 85,714 new shares worth GBP7,500 to a service provider in lieu of fees.

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Headlam Group PLC - floorcoverings distributor - Revenue from continuing operations falls 21% year-on-year in the four months to April 30 amid challenging trading conditions and a planned reduction in some sales activity as part of its new customer strategy. The floor coverings distributor says it continues to incur significant underlying operating losses but has implemented operational improvements under its new management team and introduces price increases and surcharges in May to offset higher raw material costs. Headlam says recent and planned property disposals are expected to generate around GBP15.3 million in net proceeds to support liquidity, while net debt widens to GBP40.3 million at April 30 from GBP31.4 million at the end of 2025. The company says the board continues to target a return to profitability in 2027.

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Goldplat PLC - gold miner and producer with recovery operations in Ghana and South Africa - Says its South Africa and Ghana recovery operations deliver combined operating profit of GBP3.9 million in the third quarter ended March 31, up from GBP694,000 a year prior, helped by higher gold prices and increased volumes. Profit before tax excluding listing and head office costs rises to GBP3.4 million from GBP769,000. The South African business swings to GBP2.6 million pretax profit from a GBP15,000 loss, while the Ghana operation reports pretax profit of GBP806,000, broadly flat year-on-year. Goldplat also says it plans to update the JORC resource estimate for its tailings storage facility by the end of October and confirms Brazil operations receive an environmental licence in April. The company declares an interim dividend of GBP300,000 payable on June 12 and says group cash balances increase to GBP9.2 million after quarter-end from GBP5.1 million at March 31.

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Intercede Group PLC - Leicestershire, England-based cybersecurity software firm - Signs a reseller agreement with OneSpan Inc to expand enterprise adoption of FIDO2 passkeys. Under the deal, OneSpan will resell Intercede's MyID Solutions suite, including MyID CMS, alongside its Digipass-as-a-Service offering through its global sales channels. Intercede says the partnership targets growing demand for phishing-resistant authentication and supports its strategy of expanding distribution through channel partners. The company adds MyID CMS is the first credential management system to support FIDO Enterprise Attestation, enabling device-level identification and control in Entra ID environments.

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Stelrad Group PLC - Rotherham, England-based radiator manufacturer - Says trading in 2026 to date is in line with management expectations despite subdued market demand weighing on volumes, and reiterates its full-year outlook. The radiator maker says commercial and operational initiatives continue to support profitability and offset weaker markets. Stelrad adds its supply chain and inventory position leave it well placed to manage any disruption linked to the Middle East conflict without affecting margins or customer supply. Chief Executive Trevor Harvey says the group remains focused on operational optimisation and is confident in further progress and market share gains, supported by long-term decarbonisation trends.

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Adsure Services PLC - holding company for business assurance services provider TIAA Ltd - Outlines plans to transform into a diversified professional services group through selective acquisitions and AI-led expansion. The company says it aims to build a portfolio of specialist firms across areas including internal audit, management consultancy, digital consultancy, and investigatory and security services, while maintaining the independence and ethical standards of subsidiary TIAA Ltd. Adsure also says it is exploring the creation of a dedicated AI services subsidiary to commercialise its proprietary TIAA Insight platform, developed with the University of Essex under an Innovate UK partnership. Chief Executive Kevin Limn says the group is seeking specialist firms that share TIAA's B Corp values and client-focused approach.

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Helix Exploration PLC - London-based helium miner focused on Montana in the US - Secures its first helium sales arrangement for production from the Rudyard project in Montana with an unnamed industrial gases group. The company says the counterparty will take 100% of deliverable helium volumes for an initial period of around three months, with both sides expecting an extension. Initial deliveries are expected at around 30 to 40 Mcf per day from three producing wells. Helix says pricing reflects prevailing spot market rates for Grade A helium and exceeds assumptions used in its pre-IPO model, though commercial terms remain confidential. The company adds the counterparty will provide additional trailer capacity to support uninterrupted deliveries as it continues talks on longer-term offtake agreements.

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By Eva Castanedo, Alliance News reporter

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