Ticker Research

Clarkson's trading statement today raised the floor for 2026 underlying pre-tax profit to not less than £135m, after what the Board called very strong trading in August and September. Record freight rates in some markets, driven by geopolitical disruption, pushed Broking revenue significantly ahead of previous expectations and added to the forward order book, while the Financial division executed enough transactions to finish significantly up on expectations too. The new floor is 49% above 2025's £90.6m and follows an upgrade already given with the interim results on 3 August.

Celebrus Technologies warned today that FY27 results will fall below market expectations, guiding to revenue of $20.0m–$20.5m against a stated consensus of $23.7m and an adjusted loss before tax of $2.8m–$3.0m against a consensus loss of $0.9m. Two causes are given: new business is closing more slowly than hoped, and one customer used a break clause after the first year of a three-year contract, a loss the company puts down to its own imperfect execution. Celebrus ARR fell 2.0% in the half to $14.7m, as $0.6m of new wins and upsells failed to cover $0.9m of reductions. First-half software revenue rose to about $8.9m from $7.9m, but total revenue fell to $9.2m as third-party product sales shrank.

EnSilica's audited final results today confirmed a record year to 31 May 2026: revenue rose 53% to £27.8m, EBITDA (earnings before interest, tax, depreciation and amortisation) moved from nil to £5.9m and the group made a £1.2m profit after tax against a £2.7m loss. EBITDA came in above the £4.7m indicated in June, which the company attributes to a larger research and development tax credit. FY27 guidance of £32m to £34m revenue and £5.5m to £6.5m EBITDA was reconfirmed, with more than 80% of anticipated revenue described as visible. The shares were about 83.70p on results day, up 9.46%.

Sirius Real Estate's trading update today reported 11.3% year-on-year growth in rent roll for the half to 30 September 2026, of which 5.1% was like-for-like (rent growth on the same properties, excluding acquisitions). The company deployed approximately €150 million into acquisitions at gross yields of more than 8%, including business parks in Kiel and Fulda let to defence-related occupiers, repaid its €400 million bond in June and reports more than €250 million of liquidity. It also quotes a weighted average cost of debt of 3.5%, up from 2.5% at 31 March. The figures are unaudited.

IG Group's third-quarter trading update today showed revenue of about £240 million for the three months to 30 September, down about 14% on the £280.1 million of a year earlier. The cause was revenue retention, meaning the share of clients' trading activity that IG keeps as revenue. Retention on over-the-counter (OTC) derivatives was about 70%, against the roughly 80% averaged since IG began its market-making optimisation in the second half of 2025. The Board now expects 2026 Group revenue growth in a mid-single-digit per cent range. In March it had pointed to the top end of a mid-to-high single-digit range. Client activity held up well. OTC customer income rose about 8%, organic first trades rose over 25% and organic active customers rose around 17%. Underdog, the US business IG has agreed to buy, more than doubled its quarterly net revenue to about $105 million. The shares fell about 21% this morning to around 1,009p. Peers CMC Markets and Plus500 fell 7% and 8.6% respectively.