深夜影院

Bodycote (BOY) said revenue in its core business grew by 9 per cent in the first four months of the year, led by a 16 per cent increase in its higher-margin specialist technologies arm.

Overall group revenue was up 1.9 per cent, despite continued exits from non-core businesses. The company ended operations at three more sites, bringing the total number of closures since its current restructuring programme began two years ago. Bodycote expects to exit 90 per cent of the 31 non-core plants it has identified by the end of this year.

On Friday, Bodycote鈥檚 board said that it had begun talks with private equity group Apollo (US:APO) about a potential sale that values the business at 拢1.5bn. The board had rebuffed several previous approaches from Apollo but began talks regarding a sale at 885p a share, plus payment of the 16.1p dividend up for approval at today鈥檚 annual meeting.

Its full-year outlook was unchanged and no further comment was provided on the sale talks. Although it represents a 29 per cent premium to the closing price on the day before talks were announced, analysts view Apollo鈥檚 offer as being on the low side.

Deutsche Bank analyst Thomas Elgar said the proposed bid 鈥渓ooks light鈥�, while Peel Hunt鈥檚 Harry Philips said it fails to reflect Bodycote鈥檚 growth prospects and the margin expansion expected as its restructuring operations bear fruit. Philips increased his target price on Bodycote鈥檚 shares by 18 per cent to 1,000p.

Zotefoams (ZTF) said 2026 had started strongly, with revenue in the first four months growing by 26 per cent year-on-year to 拢64mn. Revenue contribution from OKC (acquired in November) helped to offset an expected softening in the footwear market, the company said.

It has taken steps to mitigate higher raw material and other costs due to the war in Iran, and 鈥渞emains confident鈥� it will hit analysts鈥� forecasts. Brokers are projecting full-year revenue of 拢190.8mn and an adjusted pre-tax profit of 拢26.3mn.

Zotefoams shares rose by 7 per cent.

Pets at Home (PETS) cut its annual dividend by 43 per cent to 7.4p a share after pre-tax profits in its retail business collapsed, although a fresh 拢50mn share buyback lifted the shares by more than 4 per cent in early trading.

Total group consumer revenue rose 1 per cent to 拢1.98bn in the year to 26 March, with a decline in retail revenue offset by growth in the veterinary arm. Group underlying pre-tax profits fell 30.2 per cent to 拢93mn, driven by a 57.8 per cent slump in the retail division.

The group gross margin fell 1.2 percentage points to 45.7 per cent, with higher joint venture fee income in the vet arm helped balance out price cuts in the retail segment to win back shoppers as part of the group鈥檚 turnaround plan.

Free cash flow was down 26 per cent to 拢62mn, with retail down from 拢31mn a year earlier to just below 拢3mn due to the sharp drop in profits. The decline also added 拢26mn to net debt, although the leverage ratio remains low at just 0.1 times underlying Ebitda.

These were the first major set of results under new chief executive James Bailey, former boss of Waitrose. For the 2027 financial year, management guided to an underlying pre-tax profit of just under 拢100mn, with a return to volume growth in the retail arm.

Defence group Cohort (CHRT) said revenue and operating profit for the financial year just closed came in ahead of expectations.

Revenue rose by 12 per cent to 拢303mn in the year to 30 April, while adjusted operating profit rose by 30 per cent to about 拢36mn, the company said.

It also closed the year with an order book of 拢620mn, slightly ahead of last year鈥檚 starting total of 拢615mn. About 拢253mn of this is expected to be delivered in the current financial year, meaning about 80 per cent of expected revenue is already covered.

The company finished the year with a small net cash balance of 拢2.3mn, which was below guidance of 拢10mn-拢15mn due to working capital timing, said RBC Capital Markets analyst Ben Pfannes-Varrow. Still, the balance sheet remains strong enough to support potential acquisitions, he added.

Cohort鈥檚 shares rose by 9 per cent, bringing their year-to-date gain to 48 per cent.

Quantum dots maker Nanoco (NANO) plans to delist from the London Stock Exchange in a bid to save money.

The company said the cancellation of its shares from the exchange will save it around 拢700,000 a year. Although the company has 拢10.1mn of cash currently and is 鈥渘either currently experiencing any financial difficulty, nor is it expected to in the near term鈥�, the savings will extend the lossmaking business鈥檚 runway to break even, Nanoco said in a statement.

The de-listing requires approval from 75 per cent of shareholders.

Nanoco floated on Aim in 2009 with a view to licensing its technology to consumer electronics manufacturers. Three years ago, it won a $150mn settlement from Samsung Electronics (KR:005930) following an intellectual property battle but this only amounted to $90mn after legal fees were accounted for. The company spent about 拢33mn of this buying back half of its shares through a tender offer in 2024 and it has continued to burn through cash since.

Nanoco鈥檚 shares fell by more than 40 per cent.