TRADING UPDATES: Likewise, Itaconix 2026 in line with expectations

Tue, 02nd Jun 2026 19:47

(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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Satsuma Technology PLC - London-based Bitcoin treasury firm formerly known as Tao Alpha - Calls May "a quieter month", its focus remaining on cost discipline. Has 668.48 bitcoin worth GBP36.6 million as of May 31, buying none in May. Unrealised loss per bitcoin stands at GBP29,216. Basic net asset value per share is 0.36 pence at May 31.

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Likewise Group PLC - Birmingham, England-based floor coverings distributor - May sales climb 19% from a year ago. In the year to May 31, like-for-like revenue increases 17%. Order intake "continues to be positive" as it takes "exponential gains" in market share. Says "With the benefit of the existing infrastructure established in the last five years," plus ongoing investments, "the group will have the capacity to materially exceed GBP250 million in sales revenue." Is "confident" of achieving current market expectations for 2026 and "very focused" on improving operating margins to enable further investment and development.

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Itaconix PLC - London-based manufacturer of plant-based polymers - Says trading this year "in line" with expectations, with the first six months likely to be "another record half". Remains "confident in the company's strategy, customer pipeline and long-term growth opportunities." Regarding the Middle East conflict, continues to monitor logistics and transportation costs within its plant-based supply chain "which have not experienced significant disruption or unfavourable cost implications". Says overall gross profit margins "remain steady." Adds: "Current and potential customers are recognising the stability in the supply and pricing of our ingredients, which we believe will translate into new revenue opportunities." Expects results after harvest for trials of new potential applications for its ingredients in crop production under the tradename BioVail GRZ 200L.

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Inspiration Healthcare Group PLC - Croydon, London-based medical technology company specialising in neonatal intensive care devices - Enters into a framework agreement to transfer the distribution of Micrel Medical Devices SA's infusion products to an entity controlled by Micrel, effective January 31, 2027. Inspiration has been the exclusive distributor of Micrel's ambulatory infusion pumps and related consumables in the UK since 2011. Inspiration employees responsible for the infusion products will transfer to Micrel on July 1, 2026. Additionally, Micrel will buy back unsold inventory and make a compensation payment to Inspiration in exchange for "the orderly transition of the business and reflecting the goodwill generated during Inspiration's tenure as UK distributor," Inspiration says. Says the transfer will have no impact on the results of the current financial year. However, cost savings due to the employee transition is expected to generate savings in operating expenses in the second half. Expects these savings, combined with the compensation payment, to contribute to reducing net debt by around 20% during financial year 2027. As at January 31, 2026 net debt excluding IFRS16 lease liabilities stood at GBP5.1 million. CEO Raffi Stepanian says the separation allows Inspiration "to focus on its core business of neonatology and neonatal ventilation in particular." "The group has identified opportunities to grow its product portfolio and footprint in this segment through organic means as well as third party distribution opportunities and continues to assess further opportunities," CEO Stepanian adds.

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Geo Exploration Ltd - oil and gas exploration company focused on Africa, Australia and the Mediterranean - MAGSPEC Airborne Surveys Pty Ltd completes the fixed-wing magnetic and radiometric survey at the Gorge Project. "The survey data will be used to support a litho-structural geological interpretation of the project area and will provide an important input into ongoing drill targeting and the design of proposed geochemical survey programmes," Geo says. Exploration Manager Tom Harris is onsite undertaking field reconnaissance activities, including validation of historical workings, geological mapping and assessment of priority areas identified from historical exploration data. CEO Omar Ahmad says GEO is "moving quickly and methodically through the planned exploration work programme."

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Great Southern Copper PLC - Chile-focused copper, gold and silver explorer - Begins scout reverse circulation drilling at the Victoria porphyry copper target at the Especularita Project. Four holes are planned to test high-grade vein and disseminated type mineralisation identified in outcrop. Elsewhere, Scout RC drilling recently completed at the nearby Artemisa North prospect confirms evidence of a strong porphyry copper-style alteration system. Drills five holes for 796 metres, with holes having successfully intersected biotite-chlorite-magnetite alteration with variable sulphide mineralisation. Says the "style and intensity of alteration provide proof-of-concept confirmation of a porphyry copper type setting at Artemisa North intersected at shallower depths than expected and further increasing prospectivity of the broader La Colorada lithocap." Samples for the first four holes at Artemisa North have been despatched to laboratories in Santiago. "The drilling programme is progressing well with both the Piedras Blancas and Artemisa North programmes now successfully completed. Combined with the encouraging geological observations from Piedras Blancas, these results continue to strengthen our confidence in the broader prospectivity of the La Colorada lithocap to host a significant porphyry copper system. We look forward to receiving and reporting assay results in due course," says CEO Sam Garrett.

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Sabien Technology Group PLC - London-based provider of energy reduction technologies - Updates investors on balance sheet and funding matters, saying it has received GBP213,708 in cash from b.grn relating to management fees and loan settlements. Intends to apply a substantial proportion of these proceeds to pay GBP127,500 to Parris Group, settling related-party funding. Also plans issue shares to settle directors' remuneration and broker fees. Sabien continues discussions with Haydale regarding a potential strategic partnership. "The board continues to believe that the opportunities identified through these ongoing discussions have the potential to accelerate the commercial deployment of M2G, broaden market access and support the creation of long-term shareholder value," it says.

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Strategic Minerals PLC - focused on Redmoor tungsten, tin, copper project in Cornwall - Cash balance as at May 31 is USD10.8 million, up from USD1.5 million a year prior. Says this leaves it "substantially funded" through to completion of the pre-feasibility study on its Redmoor Tungsten-Tin-Copper Project in Cornwall, UK. The resource infill drilling programme at Redmoor "is progressing well", with outputs planned to inform the PFS. At the Leigh Creek Copper Project in South Australia, agrees a 3-month extension to the existing transaction timetable. Funding and strategic discussions advance "positively" as it works towards completion of the proposed transaction with Leigh Creek Copper Mine Pty Ltd. At the Cobre magnetite stockpile in New Mexico, notes a "substantial investment" in new equipment, including a Caterpillar D6 bulldozer to support infrastructure works. Says this reinforces its long-term operational commitment to the site "whilst improving year-round capability and reducing reliance on equipment rentals."

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Goldstone Resources Ltd - Ghana-focused gold explorer - Notes recent progress at 50%-owned MinCorp SL, a private company in Sierra Leone developing several small-scale gold mining licences. MinCorp's licences are contiguous to the Baomahun Gold Mine, a known gold deposit estimated to contain approximately 5.8 million ounces, with early work indicating grades of approximately 12 grams per ton. Says "significant progress" has been made in establishing operations on site since its initial March 2026 investment. Preparatory works include the installation and commissioning of a wash plant. An excavator has been deployed to improve access, clear vegetation and prepare the site for the commencement of small-scale mining and processing activities. CEO Emma Priestly comments: "While the commissioning process remains ongoing and the material has not yet been sampled and monitored under controlled operating conditions, the identification of visible coarse gold through the wash plant is nonetheless a highly encouraging indicator of the licences' potential. We are eager to complete commissioning and commence small scale mining production. We believe this investment in Sierra Leone complements our existing production asset in Ghana and aligns with our strategy of expanding our operational footprint in West Africa. We look forward to providing further updates from both operations in the coming weeks."

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Helix Exploration PLC - London-based helium exploration and development company advancing the Rudyard helium project in northern Montana - Announces the results of independent noble gas isotope analyses conducted across its three producing helium wells and production gas stream at Rudyard. Says helium-3 to helium-4 ratios are around 33 times higher than typical crustal helium values, with helium comprising around 1% of the raw gas stream across all three wells. Notes isotope values were consistent across the wells, indicating production from a single, uniform deep reservoir. Says the production gas stream recordes 855 parts per billion helium-3 following purification at its Rudyard plant, which it says is among the highest values documented for a producing helium field. CEO Bo Sears comments: "These results are remarkable and reinforce what we have believed since day one - Rudyard is not a typical helium field. The isotopic signature across all three wells points to a deep crustal source that has clearly been influenced by the mantle."

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By Aidan Lane, Alliance News reporter

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