Tech Surge and Energy Boost: ActiveOps Acquisition and Serica's Production Restart Lead LSE Pre-Market

📈 Today's Key Themes

The London Stock Exchange pre-market is showing a mixed landscape, with notable positive developments in the technology and energy sectors countered by challenges in mining and small-cap companies. ActiveOps' strategic acquisition of Enlighten Group is set to bolster its position in the software industry, while Serica Energy's resumption of production at the Triton FPSO signals a potential upswing for energy stocks. However, financial distress in companies like Active Energy Group and Shuka Minerals highlights ongoing pressures in the resources sector. This dichotomy suggests a day of selective opportunities and cautious trading ahead.

💡 Company Updates

Annual Results

AdvancedAdvT Limited (#ADVT) reported strong annual results with revenue up 105% to £43.3m and adjusted EBITDA more than doubling to £11.3m. The company's recurring revenue increased to 80.3% of total revenue, with EBITDA margin improving from 20.0% to 26.0%. The positive sentiment is supported by proforma organic revenue growth of 17.8%, indicating robust core business performance.

In stark contrast, Active Energy Group Plc (#AEG) faces significant challenges, reporting no revenue for 2024 and an operating loss of £1.85 million. With critically low cash reserves of just £4,273 and increasing debt, the company's auditors have raised serious concerns about its ability to continue as a going concern. The sentiment is very negative, reflecting the company's precarious financial position.

Shuka Minerals Plc (#SKA) reported a staggering 98.8% drop in revenue to £2,305 in 2024, with losses increasing to £2,004,927. The company's cash reserves have depleted to £36,038 from £633,093, raising material uncertainty about its going concern status. The very negative sentiment reflects the significant operational and financial challenges facing the company.

Coro Energy plc (#CORO) reported a loss of $21.366m for 2024, significantly worse than the previous year. With cash reserves dwindling to $256k and net debt increasing to $32.190m, auditors have raised material uncertainty about the company's ability to continue as a going concern. The very negative sentiment underscores the urgent need for funding to address mounting debts and working capital requirements.

Half-Year Results

MediaZest plc (#MDZ) reported a strong performance in H1 FY25, with revenue increasing by 63% to £1.9m and a return to profitability with EBITDA of £197,000. The company's gross profit is up 61% to £1,127,000, and recurring revenue streams have grown significantly. The positive sentiment is supported by new business wins, including installations in the Netherlands, Italy, and Sweden.

🎯 Leading Developments

Tech Sector Expansion: ActiveOps Plc (#AOM) has made a strategic move by acquiring Enlighten Group Pty Ltd, a competitor business. This acquisition is expected to increase ActiveOps' Annual Recurring Revenue (ARR) by approximately USD$11.0 million (£8.1 million) and be earnings enhancing, with an EPS accretion of no less than 15% in the first full year of ownership. The very positive sentiment surrounding this development is based on the expanded global footprint and enhanced product capabilities that the acquisition brings. Read more

Energy Sector Recovery: Serica Energy plc (#SQZ) has announced the resumption of production at its Triton FPSO after completing scheduled maintenance and repairs. The facility was delivering 25,000 boepd net to Serica prior to the shutdown, and the company expects improved operational performance following extensive repairs and modifications. With no further planned outages for the Triton FPSO in 2025, the very positive sentiment reflects the potential for increased and stable production. Read more

Mining Sector Progress: Bezant Resources Plc (#BZT) has secured a crucial mining license for its flagship copper-gold project until 2040, marking a significant step towards production. Recent metallurgical tests have yielded positive results, bolstering the project's potential. With copper prices favorable at USD9,200-10,000 per tonne and gold price over US$3,000 per ounce, the company is well-positioned to capitalize on market conditions. However, the positive sentiment is tempered by the company's decreased cash balance and ongoing funding needs. Read more

Hospitality Expansion: Dalata Hotel Group plc (#DAL) has announced its second hotel in Germany and fourth in Continental Europe. The company will lease a 274-bedroom Clayton Hotel in Berlin, set to open in 2026 after an 18-month refurbishment. This expansion aligns with Dalata's growth strategy and demonstrates confidence in the European hospitality market recovery. The good sentiment reflects the strategic importance of this new hotel in a prime Berlin location. Read more

Defense Sector Acquisition: Chemring Group PLC (#CHG) has acquired Landguard Systems, a provider of software-defined radio systems and security products, for up to £20 million. This acquisition is expected to be marginally earnings enhancing in the year ending 31 October 2026 and will expand the capabilities of Chemring's Roke business. The good sentiment reflects the potential for new growth opportunities and enhanced technological capabilities. Read more

Financial Restructuring: Victoria PLC (#VCP) has secured a new £130m Super Senior Facility, replacing its existing RCF. This facility offers enhanced flexibility with no maintenance covenants or drawing restrictions, addressing near-term debt maturities and strengthening the company's financial position. The good sentiment is based on the improved financial flexibility and positive progress in discussions on upcoming Senior Secured Notes refinancing. Read more

📅 Week Ahead

1 July 2025: Experian plc (#EXPN) Completion of regulatory review by CADE
1 July 2025: Carnival Corporation & plc (#CCL) Opening of Celebration Key, new exclusive destination on Grand Bahama Island
1 July 2025: J Sainsbury plc (#SBRY) First Quarter Trading Statement
1 July 2025: Tate & Lyle plc (#TATE) Capital Markets event for investors and analysts in London
2 July 2025: Mitie Group plc (#MTO) Deadline for Mitie to announce a firm intention to make an offer or state it does not intend to make an offer
3 July 2025: Scottish Mortgage Ord (#SMT) Annual General Meeting
3 July 2025: Unite Group PLC (#UTG) Deadline for Unite to announce a firm intention to make an offer or that it does not intend to make an offer
3 July 2025: Baltic Classifieds Group PLC (#BCG) Announcement of Full Year Results
3 July 2025: Currys plc (#CURY) Full year results announcement
3 July 2025: Watches of Switzerland Group PLC (#WOSG) FY25 results announcement
4 July 2025: Greencore Group plc (#GNC) Greencore General Meeting

View full calendar

Market Summary