Equity Development

David Hallas (CEO) and Chris Wilks (CFO) of ECO Animal Health conducted a live presentation covering the company's Full-Year Interim Results for the period to 31 March. Highlights included a 10% increase in Group Revenue, and Gross Margins rising to 48.6% (FY 2025: 45.1%), driven by growth in higher-margin markets. The team provided a detailed financial and operational review and discussed the R&D growth pipeline, the outlook for ECO, and answered a range of questions submitted by viewers.

In Q3 of Impax’s FY26 (1 Apr 26 – 30 Jun 26), AUM grew by £1.0bn (+4.4%) to £23.3bn. Investment performance was very strong, contributing +£2.7bn to AUM growth (+12% of opening AUM). The net flow outlook is improving, with £994m of net outflows in Q3 (excluding the impact of Impax Environmental Markets plc).

Hunting has confirmed a strong Q2 performance and reiterated existing guidance for profitability and year end cash for 2026. The Subsea and Perforating Systems Product Groups both made good progress in H1. Subsea’s favourable order book development, (and a maiden H1 contribution from FES) together with further improvements from share gains at Perforating Systems, are understood to be behind this sequential uplift.

Strong FY26 delivery, ahead of expectations. Revenue increased 10%YoY to £87.5m (11.5% at constant currency), ahead of revised market expectations, while adjusted EBITDA rose 5% to £8.5m, with margin improving to 9.8% (FY25: 9.2%). Gross margin strengthened to 48.6%, reflecting growth in higher-margin markets. North America drives growth, cash position remains robust. North American revenue grew 22%YoY to £26.1m and now represents 30% of Group revenue.

For the year to 30 April, 2026 Cohort reported revenue of £306.4m, +13%YoY (our est. £303.0m) and (adj.) EBIT of £36.3m (our est. £36.0m), +32%YoY, with improved margin 11.8% (FY25: 10.2%). Order intake of £314.2m rose 10%YoY, i.e. above revenue, with an order book of £618.8m – stretching out to 2037 – confirming another record year. The war in Iran, ongoing conflict in Ukraine and continued Asia-Pacific tension, mean that defence challenges have multiplied and accelerated rather than diminished.

ECO Animal Health Group plc (AIM: EAH), a rapidly growing global animal health company with a portfolio of marketed veterinary products and a maturing proprietary R&D pipeline, will be conducting a live presentation covering the company's Full Year Results for the year ended 31 March 2026. The online event will take place at 09.00am on Thursday 16 Julyand will be hosted by David Hallas (CEO) and Chris Wilks (CFO) of ECO Animal Health.

Ric Traynor (Executive Chairman), Mark Fry (CEO), and Nick Taylor (CFO) of BTG Consulting presented an overview of the Group’s results for the period ended 30 April 2026. Highlights included 10% revenue growth, an enhanced leadership team, and BTG’s strengthened market position. Management discussed the Group’s consistent growth throughout economic cycles, the rebrand to BTG Consulting, and the execution of its growth strategy within the Real Estate division.

James Sheridan (Chief M&A Officer) and Kate Lewis (CFO) presented an overview of their Full Year results for the year ended 30 April 2026. Highlights included a significant increase in revenue with strong organic growth momentum and excellent cash generation. The team provided a detailed financial and operational review, and discussed the healthy pipeline of acquisition opportunities and continued investment in people and technology.

Strix Group plc, the global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration, will be hosting an Investor Presentation covering its financial results for the 15-month period ended 31 March 2026. The online presentation will be hosted by Gary Lamb, Chairman, and Clare Foster, CFO. This event will take place at 11.00am on Wednesday 5 August.

BTG Consulting has delivered impressive FY26 results, in-line with upgraded guidance given in May. A 6% increase in experienced staff has driven 10% revenue growth and strengthened BTG’s mid-market leadership for restructurings and its fast-growing real estate division. Adj. PBT margin was robust at 14.8% and the 7% increase in the dividend marks nine years of dividend growth.