Sulfur battery technology developer Gelion (LON: GELN) reported full year results ahead of expectations with revenues of £2.46m and a pre-tax loss of £5.33m. Net cash was £7.55m at the end of June 2026 and that should cover the next financial year. Earlier this week, there was positive news of the independent testing of its Nano-Encapsulated Sulfur (NESTM) Cathode Active Material (CAM) by National Laboratory of the Rockies (NLR) under the Cooperative Research and Development Agreement (CRADA), which confirmed Gelion’s own tests of its technology. The share price gained 12.55 to 18p.
Orcadian Energy (LON: ORCA) shares have risen 10.7% to 15.5p on the back of the UK government approval for the development of the Jackdaw project in the North Sea. This could have a positive effect on the ability to gain approval for Oracadian Energy’s Earlham project.
MS International (LON: MSI) has won a £29.7m contract to supply 12 DS30M gun systems to the German Navy. This will be supplied over an unspecified number of years. Last year’s group revenues were £72m. The share price increased 9.69% to £15.85.
Cancer treatments developer ValiRx (LON: VAL) points out the announcement that Ambrose Healthcare is acquiring AM-Pharma. Ambrose has a licence for VAL401 from 54.1% owned ValiSeek. As part of that agreement ValiSeek received 576,000 shares in Ambrose to add to the 75,000 shares it had already received. ValiRx believes that the acquisition could help with progressing the regulatory process for VAL401. The share price added 9.37% to 0.175p.
Surface coatings provider Hardide (LON: HDD) says full year revenues more than doubled to £13.5m and pre-tax profit was £4.9m, which is slightly better than expected. Further orders were recently won. and they will contribute to 2026-27. Hardide is investing in doubling capacity. The share price improved 9.13% to 113.5p.
FALLERS
Education services provider Malvern International (LON: MLVN) says underlying full year revenues improved from £12.6m to £14.4m. However, there has been a swing from a small positive EBITDA to a loss of £2.5m, including a £700,000 loss on the closed Adult English Language Teaching (ELT) business. Net cash was £700,000 at the end of September 2026. A further loss is expected this year. The share price dived 29.3% to 7.25p.
Cancer diagnostics company CelLBxHealth (LON: CLBX) has reduced full year revenues guidance to £1.8m due to revenue recognition and commercial delivery delays. Guidance for next year is £3m-£4m. Cost reductions mean that the nine-month operating loss has been cut from £9.7m to £4m. Cash will last into the first quarter of 2027. The share price slid 19.4% to 0.625p.
Brazil-focused gold miner Serabi Gold (LON: SRB) says third quarter production was lower than expected at 11,000 ounces, which was the same as the previous quarter. Total gold production in 2026 is anticipated to be 44,200 ounces. Permitting delays have hampered production. Cash was $63.2m at the end of September 2026. The share price declined 15.6% to 190p.
Building materials supplier SigmaRoc (LON: SRC) continues to do well in a weak construction market. Nine-month revenues were 2.5% ahead and margins are edging up. Zeus maintains its 2026 pre-tax profit forecast at £162m, up from £154m last year. The acquisition of AB Dolomitas should complete by the end of the year. That will boost next year’s earnings. The share price dipped 6.37% to 116.1p.