A busy morning of corporate updates spans retail, housing services, energy, and travel, with Cake Box Holdings (AIM:CBOX) headlining after its Ambala acquisition drove a 40% surge in full-year revenue. Mears Group reinforced its order book with a £1.5bn haul, while Rockhopper's Italian disposal entered uncertain territory after a regulatory deadline passed without approval.
Cake Box posts 40% revenue growth as Ambala beds in
Cake Box Holdings (AIM:CBOX) reported full-year revenue growth of 40%, with the Ambala business making its first contribution to group results following its acquisition. The performance marks a significant step-up in scale for the egg-free cake specialist, which has been integrating Ambala's retail and wholesale operations across the period.
Chief executive Sukh Chamdal said the group is "well positioned to deliver further growth in the year ahead," signalling confidence that the integration is on track and that the combined business has capacity to build on the enlarged revenue base.
Mears secures £1.5bn order book, results on track
Mears Group (LSE:MER) issued a trading update confirming full-year results are expected to be in line with market expectations, underpinned by a £1.5bn order haul accumulated through an intensive contract rebid cycle. Strategically important new wins with Birmingham City Council and Rooftop Housing Group featured among the additions.
Chief executive Lucas Critchley described the period as one of strong performance, noting the combination of rebid success and new business wins as evidence of the group's competitive position in housing management and maintenance services.
Gelion partners with US lab to prove domestic sulfur battery supply chain
Gelion (AIM:GELN) has signed a partnership with a US laboratory to validate that its high-energy sulfur battery platform can be manufactured entirely from domestic American resources. The collaboration is designed to de-risk the supply chain for Gelion's technology ahead of commercial scale-up, addressing a key concern for US-based customers and government programmes.
CEO John Wood framed the agreement as going "beyond technology development," emphasising that demonstrating an all-domestic manufacturing pathway is central to unlocking the US market opportunity for the sulfur battery platform.
Huddled Group launches fundraise to accelerate stock and marketing spend
Huddled Group (AIM:HUD) announced plans to raise fresh capital to fund an expansion of its product inventory and a television marketing campaign. The raise is intended to drive revenue growth and establish a clear route to profitability for the discount retail platform.
Executive chairman Martin Higginson said the capital "gives us the fuel to accelerate revenue growth," with the TV push expected to broaden brand awareness and convert that into increased customer acquisition and transaction volumes.
Rockhopper Italian disposal stalls as long-stop date expires
Rockhopper Exploration (AIM) confirmed that the long-stop date on its disposal of Italian assets has passed without the required Italian regulatory approval being granted. With the deadline elapsed, both Rockhopper and the counterparty are now free to walk away from the transaction.
The outcome leaves the future of the Italian assets unresolved, with no indication yet of whether the parties intend to renegotiate terms, extend the arrangement, or abandon the deal entirely. Rockhopper has not indicated an alternative plan for the assets at this stage.
Saga confirms £10.5m Ageas payment as cruise revenue outperforms
Saga (LSE:SAGA) flagged receipt of a £10.5m contingent payment from its insurance partner Ageas, while also confirming that first-half cruise revenue is tracking ahead of the prior year. The over-50s specialist pointed to strong cruise booking momentum as a driver of the outperformance.
The Ageas windfall relates to a contingent arrangement tied to the group's insurance partnership, providing a one-off cash benefit alongside the operational progress in its travel division.
Zenith Energy breaks ground on Puglia solar project
Zenith Energy (AIM:ZEN) has commenced construction on the first of three photovoltaic plants in Italy's Puglia region, marking a tangible milestone in its Italian renewables programme. All three plants are targeted to be grid-connected and generating revenue before the end of the current year.
The ground-breaking represents the transition from development to execution for Zenith's solar pipeline, with the Puglia sites forming the core of the company's near-term revenue generation strategy in the Italian market.
Sainsbury's first-quarter grocery sales rise 4.2% on online and fresh food strength
J Sainsbury (LSE:SBRY) reported grocery sales growth of 4.2% in its first quarter, with online and fresh food categories identified as the primary growth drivers. The performance represents a solid start to the financial year for the UK's second-largest supermarket group.
Chief executive Simon Roberts described the start to the year as "encouraging" but flagged ongoing uncertainty from the conflict in the Middle East as a factor affecting both customers and the business. The caveat introduces a note of caution around the durability of the early trading momentum.
