Today's corporate news highlighted strategic growth initiatives, with Zotefoams acquiring a Spanish technical foams producer and ALT Resources pursuing financing alongside a potential acquisition of Tartana Minerals. Operational updates saw Old Mutual report stable sales and increased gross flows, contrasting with IDOX PLC's slightly lowered revenue expectations, though profitability remained on track. Meanwhile, Ocado Group announced a realignment with partner Kroger involving three US fulfilment centre closures. Separately, Empyrean Energy faces a significant dispute over cash calls, and Marks Electrical responded to a CMA investigation into online pricing practices.
Specialist information management software provider Idox IDOX expects to report full-year 2025 revenue of around £90 million, a slight dip from prior management expectations. Despite this, adjusted EBITDA and net debt are anticipated to be in line with forecasts. Recurring and repeatable revenue climbed to approximately £60 million, driven by the Assets division and Geospatial data solutions, partially counteracting a reduction in non-recurring revenue compared to the prior year.
Financial services group Old Mutual OMU released a voluntary operating update for the third quarter of 2025, indicating a 1% rise in Life APE sales to R10,156 million and a 5% increase in gross flows, reaching R115,191 million. The company reaffirmed its strategic priorities, which include disciplined execution and a strong commitment to cost efficiencies, aiming to enhance competitive positioning and shareholder value.
Ocado Group OCDO acknowledged its US partner, Kroger, will close three customer fulfilment centres in early 2026. While these closures affect the live network, Ocado reiterated its commitment to supporting Kroger in optimising logistics and driving profitable volume in the remaining active sites. The technology company anticipates significant growth in the US market, leveraging both CFCs and store-based automation with its partner.
World leader in supercritical foams, Zotefoams ZTF, announced the acquisition of Overseas Konstellation Company S.A., a Spanish technical foams producer, for a total cash consideration of up to €36.0 million. The acquisition, funded from existing resources, is set to expand Zotefoams' product portfolio, market reach, and manufacturing capabilities. This move aligns with the group's strategic priorities by integrating OKC's deep material expertise and comprehensive conversion capabilities.
ALT Resources ALTR, formed to pursue opportunities in mining and critical minerals, has entered into non-binding Letters of Intent with Tartana Minerals. The agreement outlines a proposed financing transaction where ALT Resources would support Tartana's copper sulphate production. Additionally, the LOIs include a potential acquisition of the ASX-listed copper producer, contingent on conditions such as due diligence, fundraising, and admission to AIM.
Empyrean Energy EME announced it has received a Notice of Election of Remedy and Forced Withdrawal from West Natuna Exploration Limited, operator of the Duyung PSC. The notice relates to disputed outstanding cash calls amounting to US$789,815. Empyrean has advised the operator that, should negotiations cease, the dispute should be referred to arbitration, highlighting that an "in-principle" verbal understanding regarding the amounts had previously been reached.
Online electrical retailer Marks Electrical Group MRK has responded to an investigation by the Competition and Markets Authority into its online pricing practices. The company emphasised its commitment to transparency and clear pricing, asserting that product and optional service costs are prominently displayed for informed customer choices. Marks Electrical Group has already begun taking proactive steps to align its presentation of optional services with the CMA's latest expectations under the Digital Markets, Competition and Consumers Act 2024.