Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 3 corroborating channels. ( → → ahead → ); last update 2026-01-15. Macro backdrop: recovery.
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Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 3 corroborating channels. ( → → ahead → ); last update 2026-01-15. Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Improver flagged | Tone improving across multiple channels — flagged improver in MAIN_MARKET. 3 of 3 channels in agreement | tone 30.0 · broker 66.7 · director 0.3 · sector 34.8 |
| Tone trajectory | available | Tone trajectory available. most recent 2026-01-15 · 7 statements in last 180d | |
| Distress | Not flagged | Not flagged for distress. | |
| Pre-raise | Flagged | Active hype-language pattern — historically precedes equity raises (1.32× baseline). Hype-language density 0.5 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count. hype density 0.5/1k words (1 hits in 12 scannable docs)2026-03-23: "…isk. Uh so those input costs that are being constrained … | |
| Narrative drift | Stable | Narrative consistent with historical baseline. | |
| Broker actions — last 90 days (3) | |||
| 2026-04-30 | target_raise | CitigroupNeutral | 590p(was 460) |
| 2026-04-30 | target_raise | CITIGROUPneutral ('buy') | 590p(was 460) |
| 2026-04-30 | target_raise | Citigroupneutral | GBX 590(was 460) |
| Director deals — last 90 days (23; 9 purchases) | |||
| 2026-03-10 | Purchase | Richard Oldfield42 shares | £2 |
| 2026-03-10 | Purchase | Georg Wunderlin34 shares | £2 |
| 2026-03-10 | Purchase | Johanna Kyrklund16 shares | £1 |
| 2026-03-10 | Purchase | Meagen Burnett34 shares | £2 |
| 2026-03-02 | Award | Matthew Oomen5,119 shares | £0 |
| 2026-03-02 | Award | Meagen Burnett93,310 shares | £0 |
| 2026-03-02 | Award | Johanna Kyrklund291,279 shares | £0 |
| 2026-03-02 | Award | Georg Wunderlin130,204 shares | £0 |
| 2026-03-02 | Award | Oliver Gregson103,242 shares | £0 |
| 2026-03-02 | Award | Karine Szenberg57,652 shares | £0 |
| 2026-03-02 | Award | Richard Oldfield409,556 shares | £0 |
| 2026-03-02 | Award | Meagen Burnett187,713 shares | £0 |
| 2026-03-02 | Award | Johanna Kyrklund170,648 shares | £0 |
| 2026-03-02 | Award | Georg Wunderlin170,648 shares | £0 |
| 2026-03-02 | Award | Oliver Gregson149,317 shares | £0 |
| 2026-03-02 | Award | Karine Szenberg127,986 shares | £0 |
| 2026-03-02 | Award | Matthew Oomen127,986 shares | £0 |
| 2026-03-02 | Award | Richard Oldfield322,406 shares | £0 |
| 2026-02-10 | Purchase | Georg Wunderlin42 shares | £2 |
| 2026-02-10 | Purchase | Johanna Kyrklund22 shares | £1 |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (78% confidence). | See macro indicators → |
Tone improving across multiple channels — flagged improver in MAIN_MARKET.
3 of 3 channels in agreement
Tone trajectory available.
most recent 2026-01-15 · 7 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.5 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count.
Narrative consistent with historical baseline.
CitigroupNeutral
CITIGROUPneutral ('buy')
Citigroupneutral
Richard Oldfield42 shares
Georg Wunderlin34 shares
Johanna Kyrklund16 shares
Meagen Burnett34 shares
Matthew Oomen5,119 shares
Meagen Burnett93,310 shares
Johanna Kyrklund291,279 shares
Georg Wunderlin130,204 shares
Oliver Gregson103,242 shares
Karine Szenberg57,652 shares
Richard Oldfield409,556 shares
Meagen Burnett187,713 shares
Johanna Kyrklund170,648 shares
Georg Wunderlin170,648 shares
Oliver Gregson149,317 shares
Karine Szenberg127,986 shares
Matthew Oomen127,986 shares
Richard Oldfield322,406 shares
Georg Wunderlin42 shares
Johanna Kyrklund22 shares
Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 3 corroborating channels. ( → → ahead → ); last update 2026-01-15. Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Improver flagged | Tone improving across multiple channels — flagged improver in MAIN_MARKET. 3 of 3 channels in agreement | tone 30.0 · broker 66.7 · director 0.3 · sector 34.8 |
| Tone trajectory | available | Tone trajectory available. most recent 2026-01-15 · 7 statements in last 180d | |
| Distress | Not flagged | Not flagged for distress. | |
| Pre-raise | Flagged | Active hype-language pattern — historically precedes equity raises (1.32× baseline). Hype-language density 0.5 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count. hype density 0.5/1k words (1 hits in 12 scannable docs)2026-03-23: "…isk. Uh so those input costs that are being constrained … | |
| Narrative drift | Stable | Narrative consistent with historical baseline. | |
| Broker actions — last 90 days (3) | |||
| 2026-04-30 | target_raise | CitigroupNeutral | 590p(was 460) |
| 2026-04-30 | target_raise | CITIGROUPneutral ('buy') | 590p(was 460) |
| 2026-04-30 | target_raise | Citigroupneutral | GBX 590(was 460) |
| Director deals — last 90 days (23; 9 purchases) | |||
| 2026-03-10 | Purchase | Richard Oldfield42 shares | £2 |
| 2026-03-10 | Purchase | Georg Wunderlin34 shares | £2 |
| 2026-03-10 | Purchase | Johanna Kyrklund16 shares | £1 |
| 2026-03-10 | Purchase | Meagen Burnett34 shares | £2 |
| 2026-03-02 | Award | Matthew Oomen5,119 shares | £0 |
| 2026-03-02 | Award | Meagen Burnett93,310 shares | £0 |
| 2026-03-02 | Award | Johanna Kyrklund291,279 shares | £0 |
| 2026-03-02 | Award | Georg Wunderlin130,204 shares | £0 |
| 2026-03-02 | Award | Oliver Gregson103,242 shares | £0 |
| 2026-03-02 | Award | Karine Szenberg57,652 shares | £0 |
| 2026-03-02 | Award | Richard Oldfield409,556 shares | £0 |
| 2026-03-02 | Award | Meagen Burnett187,713 shares | £0 |
| 2026-03-02 | Award | Johanna Kyrklund170,648 shares | £0 |
| 2026-03-02 | Award | Georg Wunderlin170,648 shares | £0 |
| 2026-03-02 | Award | Oliver Gregson149,317 shares | £0 |
| 2026-03-02 | Award | Karine Szenberg127,986 shares | £0 |
| 2026-03-02 | Award | Matthew Oomen127,986 shares | £0 |
| 2026-03-02 | Award | Richard Oldfield322,406 shares | £0 |
| 2026-02-10 | Purchase | Georg Wunderlin42 shares | £2 |
| 2026-02-10 | Purchase | Johanna Kyrklund22 shares | £1 |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (78% confidence). | See macro indicators → |
Tone improving across multiple channels — flagged improver in MAIN_MARKET.
3 of 3 channels in agreement
Tone trajectory available.
most recent 2026-01-15 · 7 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.5 per 1k words across recent disclosures. RNS cadence alone isn't a signal — buybacks and routine reporting can dominate; this measures language patterns, not announcement count.
Narrative consistent with historical baseline.
CitigroupNeutral
CITIGROUPneutral ('buy')
Citigroupneutral
Richard Oldfield42 shares
Georg Wunderlin34 shares
Johanna Kyrklund16 shares
Meagen Burnett34 shares
Matthew Oomen5,119 shares
Meagen Burnett93,310 shares
Johanna Kyrklund291,279 shares
Georg Wunderlin130,204 shares
Oliver Gregson103,242 shares
Karine Szenberg57,652 shares
Richard Oldfield409,556 shares
Meagen Burnett187,713 shares
Johanna Kyrklund170,648 shares
Georg Wunderlin170,648 shares
Oliver Gregson149,317 shares
Karine Szenberg127,986 shares
Matthew Oomen127,986 shares
Richard Oldfield322,406 shares
Georg Wunderlin42 shares
Johanna Kyrklund22 shares