Halfords Group plc (HFD), the UK’s leading provider of motoring and cycling products and services, is pleased to provide a strong trading update ahead of its FY26 results. Group like-for-like (“LfL”) sales grew by 4.8% with Retail LfL sales up 4.1% and Autocentres (ex-Avayler) LfL sales up 5.8%. Within Retail, Motoring LfL sales grew by 2.9% and Cycling LfL sales grew by 6.4%.
FY26 underlying profit before tax (“PBT”) expected to be around the upper end of the consensus range of £36.0 to £41.2m as a result of further gross margin expansion and well managed costs. The Group continues to be cash generative and our balance sheet closed the period in a net cash position. Outlook: While the conflict in the Middle East is contributing to an uncertain macroeconomic backdrop, trading in March and April has been in-line with expectations. The majority of FY27 energy costs and FX requirements are hedged with freight rates largely contracted in advance, supporting visibility and mitigating near-term volatility. As a result, we are currently comfortable with consensus expectations for FY27 underlying PBT of £42.0m to £48.6m.
Comment: One of the standouts for well run, cash generative companies tends to be that whatever the storm is around them, they have already seen it coming, or have enough momentum to get over it. This would appear to be the case at HFD currently, as the shares bounce off the floor of the recent range.
Thor Energy Plc (THR) reported on its activities for the Quarterly period from 1 January 2026 to 31 March 2026. THR said “The first quarter of 2026 has been a period of operational excellence and strategic consolidation for Thor Energy: delivering company transformation, maximising portfolio value, expanding our core strategic pillars and executing data collection at our HY-Range project. Formal completion of the sale of the Molyhil Tungsten-Molybdenum Project to Tivan Limited in January concluded the A$6.56m net sale to Thor, with A$2.25m received on completion and annual payments of A$1.31m to be received each September for three years. This significant, non-dilutive capital injection materially bolsters our balance sheet and ensures we have the resources required to aggressively advance our exploration programmes.”
Comment: One of the issues of being in a bull market for explorer / developers in a bull market is that investors are spoiled for choice and / or cannot see the wood for the trees in terms of contenders to invest in. This may mean that THR is rather sidelined currently, however good the proposition is, unless it can shout louder.
Helium One Global (HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, is pleased to announce the appointment of Clive Carver as Non-Executive Chairman with immediate effect. James Smith has decided to step down from his role as Non-Executive Chairman. James has been on the Board of Helium One since its IPO in 2020 as a Non-Executive Director, and as Non-Executive Chairman since August 2023.
Comment: It is good to be reminded that HE1 came to market in 2020, and has to this day raised tens of millions of pounds from investors, but not quite as much helium as one might have wished for, aside for its US investment. The hope now is that HE1 will be dragged higher by peers such as Pulsar (PLSR) and Helix (HEX). Who said “Helium None”?
S-Ventures PLC (AQSE:SVEN), the AQUIS listed investment company focused on high-growth opportunities, announce a £200,000 strategic investment in Hybrid Drones Ltd (“Hybrid Drones”), securing a 2.67% equity stake. This investment has been made at a significant inflection point for Hybrid Drones, which is rapidly emerging as a leader in next-generation drone technology. Hybrid Drones’ flagship platform, Hydra, has recently achieved Specific Operations Risk Assessment (“SORA”) approval in the United Kingdom, representing a major regulatory milestone. Following an extensive development programme from Autumn 2025, the company successfully secured Operational Authorisation from the UK Civil Aviation Authority (“CAA”) through a fully in-house submission process.
Comment: The RNS Hotlist specialises in highlighting unsung heroes or one’s the market may have missed. In this respect including SVEN in today’s report in the wake of the magic words, drone (today’s warfare gamechanger) and the CAA, seems apt, as does the company’s £200k investment in a drone company.
Alien Metals Limited (UFO), a minerals exploration and development company, notes the release of the Quarterly Activities Report for the period ended 31 March 2026 from its joint venture partner at the Elizabeth Hill Silver Project, West Coast Silver Limited (ASX: WCE), which outlines continued strong exploration progress and ongoing growth potential at Elizabeth Hill in the West Pilbara, Western Australia. Subsequent to quarter end, as announced on 22 April 2026, West Coast Silver released an inaugural JORC (2012) compliant Mineral Resource Estimate (“MRE”) for Elizabeth Hill of 2.79 Moz silver at 617 g/t Ag, comprising 0.37 Moz Indicated and 2.42 Moz Inferred, reported above a 20 g/t Ag cut-off, confirming Elizabeth Hill as one of Australia’s highest-grade silver deposits and establishing a strong foundation for near-term growth and potential development.
Comment: It would be interesting to know what part of “Australia’s highest-grade silver deposit” the stock market has missed out on, or perhaps does not understand. Therefore, it may be seen that UFO’s RNS today is a worthy reprise of last week’s bonanza grade news.
Roadside (ROAD), the UK energy forecourt real estate business provides the following update in respect of the acquisitions of D.A. Roberts Fuels Ltd (“DAR”) and Hoch Group Ltd. Following the exercise of the put option with CGV Ventures 1 Ltd (“CGV”), announced on 31 March 2026, the £14 million proceeds are now expected to be received by the end of May 2026. This is due to the finalisation of recently introduced regulatory requirements in the underlying jurisdictions. The acquisition of DAR will complete shortly after receipt of the funds from CGV. The Company has paid a deposit of £1.36 million to DAR, with the balance of the net cash consideration of £10.5 million due on completion. The Company has extended the latest completion date to 31 May 2026.
Comment: There is certainly never a dull moment at ROAD in terms of the deal making, as the company continues its forecourt expansion strategy at pace. All the while we have the reassurance of ongoing CEO share purchases, as he moves to maintain his significant position in the company.
Cindrigo Holdings Limited (CINH), confirmed that further to the RNS announcements on 23 December 2025 and 4 April 2026, it has entered into binding agreements with a strategic investor group for over £11 million in investments and guarantees across the Group and its biomass development activities, to support and strengthen the Group’s development. The agreement also provides for the expansion of Cindrigo’s biomass operations through the joint development of an integrated sustainable wood pellet business via Fuelwood Finland Oy (“Fuelwood”). Fuelwood is expected to become the primary customer of energy from the Group’s Finnish heat-generating business, forming a key part of Cindrigo’s vertically integrated biomass strategy.
Comment: Everyone loves a “strategic investor” and in the one that CINH has just grabbed, the £11m is going to be transformational for the company’s biomass strategy dreams. Let us see whether this news finally turns around the share price in a sustained way.
Arrow Exploration Corp. (AXL), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, announces the filing of its Annual Audited Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the quarter and year ended December 31, 2025 and the filing of its 2025 year-end reserves report. Net income of $1.4 million inclusive of an impairment loss of $7.6 million (FY: 2024: $13.1 million). Total oil and gas revenue of $70.5 million, net of royalties (2024: $73.7 million). Cash position of $11 million at the end of 2025 (2024: $18 million). No outstanding debt. Adjusted EBITDA of $35 million (FY 2024: $48 million), with Q4 2025 EBITDA of $6.3 million (Q4 2024: $13.3 million).
Comment: AXL was already a cash machine and a new discovery machine well before the current $100 a barrel oil price caused by the geopolitical cul de sac of Iran. Therefore, it remains a surprise that even though there has been a recovery in the share price, one would have expected it to be double or more what it is currently.
Solvonis Therapeutics plc (SVNS), an emerging biopharmaceutical company developing novel small-molecule therapeutics for high-burden central nervous system (“CNS”) disorders, announces its audited results for the year ended 31 December 2025 and a refinement to its strategy for SVN-001. FY2025 was a defining and transformational year for Solvonis. During the year, the Company completed the acquisition of Awakn Life Sciences, changed its name to Solvonis Therapeutics plc, and was reshaped into a focused CNS biopharmaceutical business targeting addiction and psychiatry. That transformation is underpinned by a differentiated pipeline led by SVN-001, a Phase 3 programme in severe Alcohol Use Disorder (“AUD”), alongside SVN-002, a U.S.-focused programme in Phase 2 planning for moderate-to-severe AUD, and an expanding proprietary discovery portfolio across addiction and psychiatry.
Comment: Unlike most of the small cap pharma prospects who focus on side issue treatments, we have SVNS going for the big blockbuster, or in this case blockbusters. The journey to Phase 3 success should be a good one for the share price, given a modest £18m market cap currently.
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.
