(Alliance News) easyJet (EZJ) reports third-quarter results, saying headline pretax profit has fallen 70% to GBP85 million from GBP286 million for the prior year. Headline earnings before interest, tax, depreciation and amortisation fall 38% to GBP304 million from GBP491 million. Group revenue increases 2% to GBP2.98 billion from GBP2.92 billion, but passenger revenue declines 1% to GBP1.74 billion from GBP1.76 billion, although airline ancillary revenue rises 3% to GBP753 million and holidays revenue jumps 14% to GBP489 million.
Passenger figures stood at 25.8 million, nearly unchanged from 25.9 million. Fuel costs increase to GBP732 million from GBP627 million. “We have continued to manage the impact of the Middle East conflict, and its effect on fuel prices and booking trends, during the quarter. Pricing has been attractive, driving strong late booking demand for our flights and holidays and our relentless focus on execution has delivered an excellent operational performance,” says Chief Executive Kenton Jarvis, noting that easyJet is now entering into “the busy summer period”.
Comment: Rather than protesting too much about being taken over earlier this summer, EZJ should have been begging on its knees. That said, it has been unlucky as far as the Iran fiasco, something which is clearly only designed to get the oil price to go up for some state sponsored insider trading. And when it did not stay up, the ceasefire was broken and bombing renewed.
capAI (CPAI), the applied artificial intelligence (“AI“) venture platform, is pleased to announce that it has entered into a licence and option agreement (the “LOA“) with R42 Group LLC (“R42“) in respect of Ageotype, an AI-powered longevity and preventative health data platform. The LOA represents capAI’s first platform within its capMedical vertical, following the licensing discussions with R42 referred to in the Company’s announcement of 10 February 2026.
Comment: Another day, another glitzy AI investment. One wonders how many of these will get over the line, the due diligence process, and of course the related party transaction angle. Not only jobs for the boys, but deals for the boys and we shall see further down the RNS Hotlist today.
LPA Group (LPA), the innovation-led engineering company that designs and manufactures electronic and electro‑mechanical components and systems, announce a new distribution agreement with Boeing Distribution. Boeing Distribution will leverage its established global network to distribute LPA Red Box Aviation’s product portfolio across the global general aviation market. This agreement represents a significant milestone in LPA’s aviation market strategy and provides enhanced scalability for the Group’s general aviation business. It is a testament to the start of a strategic relationship between Boeing Distribution and LPA Group.
Comment: Last time I checked LPA was a sub £10m market cap company, which is rubbing shoulders with Boeing Distribution, presumably a company worth rather more than that. This kind of giant killing deal should witness a massive re-rate for LPA. The shares are up 128% so far this year, but should be up much more.
Eleco plc (ELCO), the specialist software provider for the built environment, provided a trading update for the six months ended 30 June 2026 (the ‘Period’), based on unaudited management accounts for the Period. Annualised Recurring Revenue (“ARR”)1 at 30 June 2026 increased 16% to c.£35.5m (£30.7m at 30 June 2025), reflecting a further new record for the Group’s ARR. Organic3 ARR increased approximately 23% to c.£34.7m (H1 2025: £28.3m). Total Recurring Revenue (“TRR”)2increased by 14% to c.£16.9m (H1 2025: £14.8m), representing 85% of total revenue (H1 2025: 81% of total revenue). Organic TRR increased approximately 20% to c.£16.4m (H1 2025: £13.8m).
Comment: Many of today’s winners in terms of results are having to see their share prices rebound from the low end of the range, something that underlines the London market’s attitude of guilty until proven innocent, or loser until proven winner. One really despairs and would do even more, if either leaving the country or retiring were not appealing options.
The MISSION Group plc (TMG), a collective of sector-leading Creative, Sports and MarTech Agencies, provides a trading update for the six months ended 30 June 2026 (H1 2026). The Group’s H1 2026 performance was in line with the Board’s expectations, with improved headline operating profit before adjustments expected to be up 10% at £2.4m (30 June 2025: £2.2m) and H1 revenue expected to be £32.5m (30 June 2025: £34.1m). Headline profit before tax is expected to be 27% higher at £1.4m (30 June 2025: £1.1m).
Comment: Hats off to TMG, even though the company could certainly do with polishing its stock market profile. Despite this the jump in profits is significant, and all we are waiting on now is for key resistance at 20p to be broken on the share price chart.
Arkle Resources PLC (ARK), the energy metals explorer focused on uranium, noted the announcement made today by Group Eleven Resources Corp. (TSX-V: ZNG) (“Group Eleven”), operator of the Stonepark zinc-lead project in County Limerick, Ireland, in which Arkle holds an estimated 21.38% interest³. Group Eleven has reported that a new and robust zone of zinc-lead mineralisation has been discovered at Stonepark, in a step-out hole drilled 550m from the closest edge of the Stonepark Mineral Resource Estimate (“MRE”)¹, in previously untested ground. Group Eleven has described the result as the most significant progress at Stonepark since it acquired the licence block in 2017.
Comment: Progress, or no progress, what is interesting about the ARK story in the recent past, is that unlike most of its explorer peers, the share price has continued to rise in a relatively consistent fashion. Arguably the mix of metals and their postcode helps.
Oriole Resources PLC (ORR), the AIM quoted gold exploration and development company focused on Central and West Africa, is pleased to publish an updated JORC Mineral Resource Estimate (“MRE”) for the MB01-S deposit at its 50% owned Mbe orogenic gold project (“Mbe” or the “Project”) in Cameroon. Together with the MRE for the neighbouring MB01-N deposit, which was published on 13 April 2026, the total JORC Inferred Mineral Resource (“Inferred MRE”) at the Project is now 1.66 million oz contained gold (“Au”) with a mean grade of 1.02g/t.
Comment: Unlike most other companies who perhaps inform the market of their activities too little, in the case of ORR it feels like we have a RNS every other day, and one cannot see the wood for the trees. At least today’s update is meaningful, even if one suspects the benefit is already in the share price.
Lift Global Ventures plc (AQSE:LFT), an investment and acquisition company focused on foundational artificial intelligence, announced that it has agreed to invest £30,000 in LEXcelerate Limited (“LEXcelerate”), the legal technology business whose AI-enabled platform is designed to transform the UK conveyancing and remortgage market by automating around 90% of the administrative work in a property transaction. Proposed investment of £30,000 in LEXcelerate as part of its current £375,000 fundraising round. Investment to be made at a £3.0 million pre-money valuation through the subscription for Ordinary Shares. Yorkshire AI Labs LLP (“YAIL”) is a 35% shareholder in LEXcelerate. As David Richards, Executive Chairman of the Company, is the Managing Partner of YAIL, the LEXcelerate investment is a related party transaction under Rule 4.6 of the AQSE Growth Market Access Rulebook. Mr Richards is a director and shareholder of DJHP Holdings Limited, which is a designated member of YAIL and holds a 40% equity interest in YAIL. Notwithstanding the LEXcelerate investment, YAIL’s shareholding in the Company remains at 16.90%.
Comment: Another subscale, related party transaction which is apparently fine and dandy from a regulatory perspective as we are all friends. If only we could all convert our investments in private companies into public paper, thereby increasing our control of the latter at no cost. One hopes that the £30,000 investment here becomes the equivalent of investing such an amount in Apple 20 years ago, or Nvidia a couple of years ago.
Fonix (FNX), the mobile payments and messaging provider, provided an update on trading for the year ended 30 June 2026. Gross profit and adjusted EBITDA in FY26 have grown slightly ahead of market expectations. Gross profit for the Year increased by 12.9% to £21.0m (FY25: £18.6m).. Adjusted EBITDA grew by 11.0% to £16.2m (FY25: £14.6m). Costs include £0.2m of exceptional legal and consultancy costs associated with preparations for future international expansion, which have not been added back.
Comment: FNX really does sound like something from the Dotcom era. Nevertheless, there would appear to be a share price turnaround here, underpinned by an improving fundamental performance as witnessed today. Above the 200 day moving average at 169p we could be pencilling in 200p plus by the end of the summer.
The Smarter Web Company (SWC) announced that the Company’s Smarter Convert instrument, held by entities related to the TOBAM Group (“TOBAM”) and detailed in the Company’s announcement on 6 August 2025, has been repaid, approximately two weeks ahead of its maturity, at the request of the Company and with full support from TOBAM. The Company has repaid $11,698,540 to TOBAM. The repayment has been funded through the disposal of 177.8909127 Bitcoin at an average price of $65,762, being the total number of Bitcoin acquired from the subscription proceeds. Whilst the original agreement stated at least 98% of the funds must be deployed into Bitcoin, the Company elected to deploy 100% of the funds into Bitcoin and is accordingly obliged to repay 100% of the acquired Bitcoin.
Comment: If only the price of Bitcoin had doubled over the period since August rather than halved. If only SWC could remind us on a regular basis in terms of ongoing (profits) losses, in terms of going up this particular down escalator. Who needs to be reminded of The Charge Of The Light Brigade, when you can be a Smarter Web shareholder.
eDreams (EDR), the world’s leading travel subscription company and one of Europe’s largest e-commerce businesses, securing AGM approval to reduce its share capital by up to 12 million shares. The reductions are intended to increase earnings per share and deliver increased value to shareholders. The move is supported by eDO’s strong balance sheet and the growing cash generation of its subscription model, which now has over 8 million members. eDreams aims to reach more than 13 million Prime members and over €270 million in Cash EBITDA by March 2030.
Comment: Shares of eDreams have rather been in the wars since I interviewed the company a couple of times in 2024-5. This was a counterintuitive decline, and one that has been addressed by the latest share capital reduction move. The issue now is whether this is already in the recent rise for the shares from under €3 to €5, and what the driver for the bulls will be from now?
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
