(Alliance News) – The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday, Thursday and Friday and not separately reported by Alliance News:
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Cirata PLC – Sheffield, England-based software-solutions provider – Enters a revised original equipment manufacturer agreement with IBM Corp, which will offer Cirata’s data orchestration product Cirata Symphony to its customers, branded as Cirata Symphony for IBM Big Replicate. Says the solution is designed to deliver continuous data movement at petabyte scale with near-zero downtime; to expand native support for open table formats like Apache Iceberg; to provide real-time data lineage and immutable audit trails to support compliance and governance obligations; and to integrate with a wide variety of existing customer data-centric systems. Believes its inclusion in the revised OEM agreement “represents a significant milestone in Cirata’s strategy to embed its technology within leading enterprise technology ecosystems.” Expects the deal to accelerate its commercial reach “by leveraging IBM’s global distribution network and its established relationships with enterprise clients at scale.”
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MediaZest PLC – Woking, England-based provider of audio-visual solutions – Reports GBP2.7 million in revenue for the six months ended March 31, up 40% from GBP1.9 million the year before. Earnings before interest, tax, depreciation and amortisation decrease 39% to GBP120,000 from GBP197,000. “This reflects increased costs, a proportion of which is one-off costs relating to investments in the engineering team and systems to meet the increased demand and ongoing support of new sites,” MediaZest says. Pretax profit surges to GBP754,000 from GBP56,000. Company says the “significant” revenue growth is “driven by long-term project roll outs with key ongoing customers including Arc’Teryx, Hyundai, KIA, Lululemon Athletica and Pets at Home.” Expects a “strong” second half with “further roll outs of key projects with First Rate Exchange Services and other clients.” For the full year ending September 30, it aims to surpass revenue of GBP5 million and GBP250,000 in pretax profit. “The increase in project revenues is generating profitability in the current year and also building recurring revenue streams for the future. Additionally, substantial improvement in the balance sheet from the debt restructuring and the fundraising puts the group in an excellent position to continue to grow and invest in client services,” comments Chief Executive Officer Geoff Robertson.
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Synergia Energy Ltd – West Perth, Australia-based oil and gas company – Says it has decided to apply to relinquish its 50% interest in the CS019 Camelot carbon storage licence in the UK North Sea, and expects Harbour Energy PLC, its joint venture partner, to follow suite. Says this is due to the uncertainty of being able to obtain a storage permit for the Leman Sandstone storage reservoir, as well as “commercial uncertainties”. Retains its interest in the carbon capture and storage sector through its Cambay CCS project in India, but says it will remain focused on the Cambay PSC field and “will be assessing additional opportunities in the E&P sector.” Adds that production at the recently worked-over C-08 well has stabilised at around 30 barrels of oil per day, following the workover programme at Cambay PSC legacy wells, and total production is currently around 140 bopd and 50,000 cubic feet of gas.
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Pri0r1ty Intelligence Group PLC – London-based software-as-a-service company focused on AI – Says its business Halfspace Ltd has entered an agreement with the Sport & Recreation Alliance, which represents national sports organisations in the UK, “as its official AI partner.” Says Halfspace will offer data solutions and AI tools to member organisations through its SportTower.ai platform, marking its first deployment. The agreement has a 12-month initial term with an option to extend. “We care passionately about better supporting the UK sports ecosystem and are delighted to be working with the alliance to extend our AI and data capabilities to help those organisations grow their businesses,” comments Chief Executive Officer Rory Maxwell. “SportTower.ai is the first deployment of a scalable, repeatable model and we look forward to delivering this across further partnerships in the months ahead.”
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Great Southern Copper PLC – Chile-focused copper, gold and silver explorer – Announces the start of scout reverse circulation drilling at the Artemisa South copper-gold target at the Especularita Project. Says drilling is targeting old mine workings where structurally-controlled vein and disseminated type Cu-Au mineralisation occurs in granodiorite south of the La Colorada lithocap. There has not been any previous drilling at the prospect, which is along a trend of over 85 metric tonnes of contained copper “hosted in major deposits including Los Pelambres, Altar and El Pachon.” Also, scout RC drilling is complete at the nearby Victoria prospect, with five holes drilled for 662 metres. Great Southern says first drilling beneath the La Colorada lithocap confirms that porphyry-style alteration is strengthening toward the centre of the system, which supports the potential for a large-scale buried copper-gold porphyry target. “Exploration mapping and sampling activities are continuing at both the Cerro Negro and Viuda prospects as we prepare for the next phase of drilling activity in those areas,” adds CEO Sam Garrett.
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JZ Capital Partners Ltd – Guernsey, Channel Islands-domiciled investment firm targeting US and European micro-cap companies and US real estate – Reports, on Friday, a USD4.14 per share net asset value as of February 28, up from USD4.06 one year prior. Total proceeds from realised investments, refinancing proceeds, other distributions and escrows fall to USD14.3 million for the year ended February 28 from USD47.4 million the year before. “The US and European micro-cap portfolios were flat for the year, and the company continues to work towards several realisations in both portfolios,” JZ says. It has two remaining properties with equity value: the Esperante office building in Florida and the 247 Bedford Avenue retail building in New York, the primary tenant of which is Apple. “The company has made excellent progress since adopting its current investment policy in August 2020, with total realisations in excess of USD540 million, the repayment of approximately USD270 million of debt and, to date, the return of USD70 million of capital to shareholders,” comments Chair David Macfarlane. “Notwithstanding recent market volatility…the board and investment adviser remain focused on maximising the value of those investments, ensuring their orderly realisation at the appropriate time and returning capital to shareholders.” Notes that after the year end it realised its interest in Factor Energia for EUR10.8 million, or around USD13.1 million.
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Northern Venture Trust PLC, Northern 2 VCT PLC and Northern 3 VCT PLC – venture capital trusts managed by Mercia Fund Management Ltd – Trusts report their results for the year ended March 31 on Thursday. Northern Venture Trust’s NAV per share is 57.8p as of March 31, down from 61.5p one year prior. Declares a final dividend of 1.5p per share, unchanged on-year, leaving the total also unchanged at 3.1p. Cumulative return per share decreases slightly to 256.2p from 25.8p. “Geopolitical tensions, regional conflicts and an uncertain global economic outlook continued to weigh on the operating environment…Despite this backdrop, the company maintained steady investment activity and its cumulative total return,” says Chair Deborah Hudson, who adds that the trust remains “confident in the resilience and long-term growth potential of the portfolio”. Northern 2’s NAV per share decreases to 54.6p from 58.3p, and the trust declares an unchanged final dividend of 1.3p, for an unchanged total of 3.0p. Northern 3’s NAV per share decreases to 85.1p from 90.0p, and the trust declares an unchanged final dividend of 2.5p, for an unchanged total of 4.5p. Also, the trusts intend to launch a joint offer of new shares for subscription in September, seeking to raise up to GBP10 million.
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By Emma Curzon, Alliance News reporter
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Cirata
Mediazest
Pets at home
Synergia Energy
Pri0r1ty Int
Great Sth Copp
Jz Capital
Northern Venture Trust
Northern 2 Vct
Northern 3 Vct
