Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 2 corroborating channels. Tone trajectory is improving ( → in_line → in_line → ahead); last update 2026-02-25. Next results expected in 46 days (2026-06-24); the earnings model leans ahead (47% confidence). Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Improver flagged | Tone improving across multiple channels — flagged improver in AIM. 2 of 2 channels in agreement | tone 55.0 · broker 0.0 · director — · sector 25.5 |
| Tone trajectory | improving | Tone has been improving. most recent 2026-02-25 · 5 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 0.2 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 0.2/1k words (1 hits in 3 scannable docs)2025-12-09: "…ere that we've done number of things has been an incredi… | |
| Narrative drift | Stable | Narrative consistent with historical baseline. | |
| Forward catalyst | |||
| Upcoming results | Predicted ahead | Next results expected in 46 days (2026-06-24). Model leans ahead of consensus. 13% below · 41% inline · 47% ahead · 47% model confidence · calendar medium | |
| Broker actions — last 90 days (1) | |||
| 2026-04-02 | reiteration | Berenberg BankBuy | 125p |
| Director deals — last 90 days | |||
| — | None | No director deals in the last 90 days. | |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (78% confidence). | See macro indicators → |
Tone improving across multiple channels — flagged improver in AIM.
2 of 2 channels in agreement
Tone has been improving.
most recent 2026-02-25 · 5 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.2 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.
Next results expected in 46 days (2026-06-24). Model leans ahead of consensus.
13% below · 41% inline · 47% ahead · 47% model confidence · calendar medium
Berenberg BankBuy
No director deals in the last 90 days.
Mixed signals — flagged for pre-raise, but forward-looking tone is also improving across 2 corroborating channels. Tone trajectory is improving ( → in_line → in_line → ahead); last update 2026-02-25. Next results expected in 46 days (2026-06-24); the earnings model leans ahead (47% confidence). Macro backdrop: recovery.
| Signal / Date | Status | Detail | Indicator |
|---|---|---|---|
| Composite signals | |||
| Multi-channel | Improver flagged | Tone improving across multiple channels — flagged improver in AIM. 2 of 2 channels in agreement | tone 55.0 · broker 0.0 · director — · sector 25.5 |
| Tone trajectory | improving | Tone has been improving. most recent 2026-02-25 · 5 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 0.2 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 0.2/1k words (1 hits in 3 scannable docs)2025-12-09: "…ere that we've done number of things has been an incredi… | |
| Narrative drift | Stable | Narrative consistent with historical baseline. | |
| Forward catalyst | |||
| Upcoming results | Predicted ahead | Next results expected in 46 days (2026-06-24). Model leans ahead of consensus. 13% below · 41% inline · 47% ahead · 47% model confidence · calendar medium | |
| Broker actions — last 90 days (1) | |||
| 2026-04-02 | reiteration | Berenberg BankBuy | 125p |
| Director deals — last 90 days | |||
| — | None | No director deals in the last 90 days. | |
| Backdrop | |||
| UK macro regime | recovery | UK cycle classification: recovery (78% confidence). | See macro indicators → |
Tone improving across multiple channels — flagged improver in AIM.
2 of 2 channels in agreement
Tone has been improving.
most recent 2026-02-25 · 5 statements in last 180d
Not flagged for distress.
Active hype-language pattern — historically precedes equity raises (1.32× baseline).
Hype-language density 0.2 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.
Next results expected in 46 days (2026-06-24). Model leans ahead of consensus.
13% below · 41% inline · 47% ahead · 47% model confidence · calendar medium
Berenberg BankBuy
No director deals in the last 90 days.
