A busy morning of trading updates and results brought a mix of confident guidance reiterations and strategic pivots across the small-cap space. US Solar Fund moved to centre stage with a potential sale of its entire portfolio, while Accsys Technologies (AXS) delivered the standout results of the session, doubling adjusted EBITDA as its FOCUS strategy gains traction.
US Solar Fund opens door to full portfolio disposal
US Solar Fund has granted a 90-day exclusivity period to a potential buyer over the sale of its entire portfolio, marking a significant strategic juncture for the investment trust. The board described the process as ongoing and noted that sustained improvement in portfolio performance could eventually support a resumption of the dividend, though no deal has been confirmed.
Accsys doubles EBITDA as FOCUS strategy delivers
Accsys Technologies (AXS) reported a doubling of adjusted EBITDA to €21.2m, with margins approaching the Phase I target set out under its FOCUS strategy. Chief Executive Dr Jelena Arsic credited disciplined execution on capacity utilisation and profitability improvements, and said the group remains focused on innovation alongside further sustainable gains.
Christie Group flags robust demand and stronger pipeline at AGM
Christie Group (CTG) told shareholders at its AGM that the first five months of the year to 31 May had started strongly, with robust demand and a strengthening pipeline underpinning confidence that full-year performance will be in line with Board expectations.
Everyman Media grows admissions and EBITDA in first 21 weeks
Everyman Media Group (EMAN) reported growth in admissions, revenue and adjusted EBITDA across the 21 weeks to 28 May, with the independent premium cinema operator saying it expects full-year performance to come in marginally ahead of 2025. The group cautioned that Q4 trading and the timing of planned projects introduce some uncertainty into the final outcome.
SThree reiterates profit guidance as first-half trends improve
SThree (STEM) reiterated its full-year profit guidance after reporting improving trends in the first half, with Chief Executive Timo Lehne pointing to tangible benefits now flowing through the group from its TIP platform. Lehne said the technology enables continuous enhancement and AI innovation at scale, positioning the specialist STEM staffing group for further operational progress.
Gulf Marine Services holds EBITDA guidance after vessels return to hire
Gulf Marine Services (GMS) confirmed that all four vessels temporarily evacuated from a Gulf country have returned to hire on their original contracts. The group maintained its 2026 adjusted EBITDA guidance of between USD 105m and USD 115m, signalling that the operational disruption has not altered its full-year financial outlook.
Warpaint London beats early Q2 sales targets ahead of AGM
Warpaint London reported that sales in the early part of the second quarter came in ahead of expectations, with the cosmetics group reiterating its full-year outlook at its AGM. Chairman Clive Garston highlighted significant planned expansion opportunities for later in 2026 and said the group expects continued margin improvement.
Debenhams Group targets double-digit earnings growth in FY27
Debenhams Group guided for a double-digit improvement in earnings, with Chief Executive Dan Finley describing FY27 as the year of further profit growth and sustained free cash flow generation. Finley said the most significant restructuring phases are now substantially complete and that exceptional costs are expected to reduce materially, clearing the path for a more normalised earnings profile.
