(Alliance News) – The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
———-
Worsley Investors Ltd – Guernsey-registered closed-ended, self-managed investment firm – net asset value per share rises 36% to 47.20 pence at March 31 from 34.62p the year prior. Earnings per share are 12.26p versus losses of 8.33p per share a year ago. NAV total return is 36%, easily outpacing the FTSE All Share total return of 22% and the FTSE REIT Index which was down 0.1%. Calls it a “commendable result.” Major contributor to performance was a “continuing strong performance” of Smiths News PLC, the firm’s largest position, Worsley says. “In light of the significant percentage of our NAV represented by Smiths, we harvested a portion of our capital gains for reinvestment elsewhere in due course. In addition, we again received a substantial special dividend. The investments acquired with these cash proceeds will be the seeds of future performance and, in the meantime, we enjoy a very strong liquid balance sheet,” it adds.
———-
Maintel Holdings PLC – London-based provider of communications services – Reports pretax loss of GBP2.3 million in 2025 swung from GBP0.4 million profit the year prior. Revenue drops 5.8% to GBP92.2 million from GBP97.9 million. Basic losses per share are 11.8 pence versus earnings of 3.6p in 2024. Recurring revenue decreases by 6.6% to GBP68.4 million from GBP73.3 million due to a small number of churned contracts as previously flagged. Project revenue amounts to GBP23.8 million, down 3.2% from GBP24.6 million, reflecting the slow growth in the public sector and a competitive landscape in the private sector particularly in the second half of 2025. Chief Executive Dan Davies says: “2025 has been another year of meaningful progress and disciplined execution across the company. We undertook organisational changes designed to improve sales effectiveness and operational efficiency across the business.”
———-
Cadence Minerals PLC – London-based mining services company – Pretax loss narrows to GBP1.7 million in 2025 from GBP3.3 million the year prior. 2024 includes GBP2.3 million realised and unrealised losses on investments compared to around GBP266,000 in 2025. Calls 2025 a year “of measured progress”. Looking ahead, Cadence says it “enters the new financial year with a defined set of near-term milestones at Amapa. The immediate priority is to complete Azteca refurbishment, commission the plant and obtain the operating licence. Subject to completion of refurbishment, commissioning activities, satisfaction of licence conditions and receipt of the required operating approvals, Azteca is intended to provide the initial step toward production.” Adds that progression of the Amapa DR Project will “continue in parallel, but remains dependent on further study, financing and regulatory approvals.” “The board’s priority is straightforward: complete the Azteca restart steps, preserve funding flexibility and maintain risk control,” it adds.
———-
Chelverton UK Dividend Trust PLC – Chelmsford, England-based investor in UK small- to mid-cap companies – Net asset value per share rises 8.4% to 144.20 pence at April 30 from 133.04p the year prior. Revenue return per share is 7.42p down 45% from 13.32p. Dividends per share paid in the financial year are 10.75p, down from 12.90p the year before. This results in a total return of 16%, the firm says, below the AIC UK Equity Income sector share price total return of 19% and a NAV total return of 17%. “Despite the uncertainties, we continue to be confident in the prospects for companies in the small and mid-cap sector, whose market rating remains historically low,” Chelverton says. “We believe the company continues to offer a compelling combination of an attractive dividend yield and the potential for capital upside from any recovery in the UK small and midcap market. The board keeps market circumstances under review and will continue to seek opportunities to reintroduce gearing into the company’s structure.”
———-
Roadside Real Estate PLC – Abingdon, England-based investor in roadside property such as petrol stations and convenience stores – In May, Roadside announced that completion of the DA Roberts Fuels Ltd acquisition was delayed due to a family bereavement associated with the vendor. At the time, it believed there would be a short delay as an accelerated probate process was initiated in relation to the vendor’s estate. However, given HMRC process timelines, the company now expects the DAR acquisition to complete in the third quarter of 2026.
———-
Firering Strategic Minerals PLC – Zambia and Ivory Coast-focused mining company – Announces that it has given notice to exercise the final tranche of its option to increase its interest in Limeco Holdings Ltd to 45% from 41.7%. Also provides an operational update on Limeco as it continues to ramp up production. Says Kiln 2 averages around 85 tonnes per day since April 21, while at Kiln 3, Gasifier temporarily shut down to facilitate connection, with hot commissioning expected to commence in mid-July. Firering says increase in Limeco stake is timely given Limeco’s operational performance continues to strengthen. “Our focus is now on commissioning Kiln 3 by mid-July, modifying Kiln 4 for commissioning later this year and increasing production across the plant. With a largely fixed cost base, each additional kiln is expected to make a meaningful contribution to earnings,” it adds.
———-
Andrada Mining Ltd – tin producer targeting Namibia – Reports a strong start to the new financial year, with increased quarterly tin production at Uis, exceptional drill results at Lithium Ridge and a significant processing milestone at Brandberg West. Quarterly contained tin production is a record 286 tonnes, up 20% on-year, while tin concentrate production hits 473 tonnes, also a record, up 16% on-year. Andrada says elevated tin prices are expected to support strong cash generation. Chief Executive
Anthony Viljoen says: “Q1 FY2027 represents one of the most successful quarters in Andrada’s evolution. At Uis, we delivered record quarterly tin production and continue to demonstrate the operational leverage embedded within our processing platform. Importantly this performance has been achieved against a backdrop of sustained strength in tin prices, positioning the operation to generate increasing levels of cash flow.” Andrada enters “the remainder of FY2027 with strong operational momentum, multiple value catalysts, a clear pathway towards further growth and value creation,” the CEO adds.
———-
Ormonde Mining PLC – Limerick, Ireland-based mineral resources group – Pretax loss narrows to ERU1.3 million in 2025 from EUR1.4 million the year prior. No turnover is reported in either year, while administrative expenses decline to EUR843,000 from EUR1.2 million. Basic and diluted losses per share total 25 euro cents versus 0.22 cents. Net assets as at December 31 are EUR7.7 million down on-year from EUR9.0 million, including cash and cash equivalents of EUR1.1 million versus EUR1.3 million. “Taken together, Ormonde’s portfolio is very well placed. Against a backdrop of record gold prices, we have a financed 2026 field programme including trenching and drilling now underway at Golden Rose, further backed by the considerable technical and financial strength of Eldorado Gold,” comments Chair Brian Timmonds.
———-
Seed Capital Solutions PLC – London-based special acquisition vehicle focused on environmental, social, and governance credentialed firms – Continues to work towards finalising the acquisition of Cuarta Dimension Medica SL in exchange for the issue of new shares in SCS and admission of its enlarged issued share capital to trading on AIM. Explains that there are change of control provisions in respect of 4DM which have now caused a delay to completion of the transaction documentation and which SCS is currently reviewing. In particular, Seed has been informed by 4DM that as Seed is a foreign investor, the deal is subject to prior authorisation by the Spanish Ministry of Economy, Trade and Business due to 4DM being active in a strategic sector. Completion of the deal is also subject to other matters, such as the associated fundraise.
———-
By Jeremy Cutler, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Corporate News Finance and Instruments Funds Mining Construction & Materials Engineering & Industrials Consumer Goods Support Services Real Estate 
Worsley Inv Ltd 
Smiths News 
Maintel 
Cadence Mineral 
Chelvertn Uk 
Roadside Real 
Firering Strategic Minerals 
Andrada Mining 
Seed Capital