(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Blackfinch Spring VCT PLC - venture capital trust - Reports a fall in net asset value and negative returns for 2025, but says it remains well-positioned despite a challenging macroeconomic backdrop. Net asset value per share declines to 92.86 pence at December 31 from 103.62p a year prior, as the company posts a negative NAV total return of 5.4% compared with a positive 7.1% the year before. Total dividends edge up to 5.2p from 5.1p, as the company maintains its policy of delivering around 5% of NAV to shareholders. The firm says performance is weighed by a reduction in the value of unlisted investments, including unrealised losses, although fundraising strengthens and the portfolio expands to 39 companies. Blackfinch Spring VCT adds that, despite ongoing geopolitical and economic uncertainty, it is confident in its diversified portfolio and investment pipeline. Non-executive Chair Peter Hewitt says: " Heading into 2026, our company's portfolio of qualifying investments is also better diversified than previously, with the value of our top ten holdings as a proportion of net asset value having decreased to 36%, from 48% a year ago."

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Billington Holdings PLC - Barnsley, England-based construction company - Reports lower revenue and profit for 2025 amid challenging market conditions, but says it enters 2026 with a strong order book and increasing confidence. Revenue falls to GBP95.7 million in 2025 from GBP113.1 million a year prior, while pretax profit drops to GBP1.3 million from GBP10.8 million, reflecting pricing pressure, contract delays and GBP2.8 million of non-underlying costs linked mainly to the closure of its Yate facility. The company recommends a dividend of 11.0p per share, down from 25.0p, in line with its policy to reflect underlying earnings while maintaining a robust balance sheet. Billington says it remains debt-free with cash of GBP20.5 million and highlights a strong pipeline of projects for 2026 and 2027. CEO Mark Smith says: "Billington delivered a robust performance in 2025 against the backdrop of very challenging market conditions and with continuing pricing pressure across the sector. Despite this, we maintained strong operational output, protected margins and secured a number of technically demanding, higher-value contracts that provide good visibility into 2026."

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Comptoir Group PLC - London-based owner and operator of Lebanese, Middle Eastern and North African inspired restaurants - Narrows annual loss as it focuses on operational improvements, while revenue declines slightly and it targets further progress in 2026. Revenue for the 52 week period ended December 28 falls to GBP33.0 million from GBP34.6 million, although like-for-like sales edge up 0.2%. Pretax loss narrows to GBP1.6 million from GBP1.9 million, with adjusted Ebitda rising to GBP1.1 million from GBP0.8 million. The group ends the year with adjusted net cash of GBP1.9 million, down from GBP3.0 million, and operates 20 sites alongside six franchise locations after closing two venues during the year. Comptoir says it remains focused on driving improvement and expansion across 2026, supported by operational changes, menu enhancements and a strengthened value offering. CEO Chaker Hanna says: "The operational improvements made throughout the year, combined with a stronger menu, and improved value offering gives us confidence in the path ahead."

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Accsys Technologies PLC - London-based wood building products manufacturer - Sees higher revenue and record sales volumes for the year ended March 31, with results expected in line with market consensus. Group revenue rises 12% to EUR153 million from EUR137 million, while aggregated revenue, including its joint venture, increases 24% to EUR183 million from EUR147 million. The company says strong demand drives record global sales volumes, supported by growth across all regions, particularly North America, and continued pricing discipline. Accsys adds that adjusted Ebitda for the year is expected to meet market expectations, as it continues to execute its strategy and reduce net debt.

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Gresham House Energy Storage Fund PLC - London-based investor in utility-scale battery energy storage systems - Reports higher net asset value, revenue and earnings for 2025, driven by expansion of its battery storage portfolio and strong operational performance. Net asset value per share rises 3.7% to 113.34p from 109.35p in 2024, while operational portfolio revenue increases 30% to GBP60.4 million from GBP46.5 million, and Ebitda climbs 33% to GBP38.8 million from GBP29.1 million. Contracted revenues more than double to GBP23.8 million. The company expands operational capacity to 1,072MW from 845MW, with energy storage capacity rising to 1,701MWh, as it progresses its three-year growth plan focused on increasing duration, expanding its pipeline and diversifying revenues. Gresham House Energy says it secures a GBP220 million debt facility on improved terms and continues to advance new projects, while noting some delays to connection timelines due to grid reform. The fund adds that it is testing new alternative revenue streams that show promising early results and expects further growth in capacity, revenue and earnings as it executes its strategy.

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CAB Payments Holdings PLC - London-based payments processor - Reports strong first-quarter growth, with total income rising around 35% year-on-year to GBP34 million, as it builds on momentum from late 2025. Net income also increases around 35% to GBP34 million, while total income excluding net interest income jumps about 60% to GBP26 million, driven by improved margins and a shift in business mix. The company says client activity strengthens, with FX volumes up 5% to GBP9.8 billion and emerging markets volumes rising 15%, alongside an expanding client base and partner network. CAB adds that net interest income falls around 10% year-on-year following prior rate cuts, though performance is better than expected. It maintains its medium-term guidance and highlights continued strategic progress, including new partnerships and international expansion. The trading update comes after CAB on Monday criticises its largest shareholder, Helios Investment Partners LLP, for refusing to back a takeover offer from StoneX Group Inc. The board says the stance risks denying minority investors the opportunity to exit at a premium, adding it would be minded to recommend the 110 pence per share offer and remains confident in its standalone strategy. The consortium has previously put forward a firm offer of USD1.15 per share

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World Chess PLC - London-based chess promoter and tournament organiser - Reports higher revenue but a narrowed loss in 2025, as it focuses on digital growth and platform expansion. Revenue from continuing operations rises to EUR2.0 million from EUR1.8 million, while total revenue including discontinued operations falls to EUR2.3 million from EUR2.4 million. Pretax loss from continuing operations narrows to EUR2.7 million from EUR2.8 million, with total loss improving slightly to EUR3.7 million from EUR3.8 million. Operationally, the group exceeds one million registered users, launches new features including its 'Tower' progression system, and relaunches its mobile app. It also expands partnerships, including with the Algorand Foundation, and grows its presence in India, which accounts for 33% of paid subscribers. World Chess says it is shifting resources towards scalable digital revenues, including closing its Berlin Chess Club, while continuing to invest in product development and technology aimed at long-term growth.

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By Eva Castanedo, Alliance News reporter

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