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Highlights

  • Marks Electrical: Q2-FY26 revenue fell due to unfavorable MDA and CE markets, with adjusted EBITDA expected at GBP1.7 million.
  • Arecor Therapeutics: Stable revenue and reduced R&D costs, supported by strategic partnerships, extended the cash runway to 1H 2027; shares rose 19.3%.
  • Petershill Partners: Growth in partner-firm earnings and AuM, coupled with a proposed USD921 million return of capital and delisting plan, lifted the share price 33.1%.

Today’s (25 September 2025) UK market highlights focus on three notable companies—Marks Electrical Group (LSE: MRK), Arecor Therapeutics (AIM: AREC), and Petershill Partners (LSE: PHLL)—each releasing trading updates or interim results. Investors are responding to a mix of operational performance, strategic initiatives, and financial outcomes. While Marks Electrical faces revenue pressures, Arecor benefits from strategic partnerships and extended cash runway, and Petershill attracts attention with significant capital returns and delisting proposals, driving notable movements across their respective share prices.

 

Marks Electrical Group (LSE:MRK)
Marks Electrical Group plc is a UK-based online electrical retailer that operates a technology-driven e-commerce model, selling, delivering, installing, and recycling household electrical products. The group’s operations utilise vertically integrated distribution, nationwide delivery capability, and installation services.

The stock (MRKORD) traded at 49.00 GBX, down 20.97% or 13.00 GBX from the previous close of 62.00 GBX. Trading opened at 48.00 GBX, with a bid/offer range of 48.00/50.00 GBX.

The Q2-FY26 trading update highlighted continued revenue pressure following unfavorable trading in Q1-FY26. Both the Major Domestic Appliances (MDA) and Consumer Electronics (CE) markets were down year-on-year, influenced by price-conscious consumers and reduced discretionary spending, which lowered average order values and increased relative delivery costs.

Operational costs were higher due to the implementation and ongoing operation of the new ERP system, alongside increased employee-related expenses, affecting distribution and overheads. Despite measures to control costs and maintain service levels, unfavorable H1 performance and reduced operating leverage are expected to result in an adjusted EBITDA of approximately GBP1.7m for FY26.

The board has postponed decisions on any interim dividend and will reconsider the final dividend alongside the Full Year Results.

Arecor Therapeutics (LSE:AREC)
Arecor Therapeutics plc is a UK-based biopharmaceutical company specialising in drug development and delivery for diabetes and other cardiometabolic diseases. The Group’s pipeline includes insulin formulations AT278 and AT247 for diabetes, an oral GLP-1 receptor agonist for obesity, and its proprietary drug delivery platform, Arestat®.

The stock (AREC) traded at 86.50 GBX, up 19.31% or 14.00 GBX from the previous close of 72.50 GBX. Trading opened at 87.50 GBX, with a bid/offer range of 85.00/88.00 GBX. This price movement reflects market reaction to the interim results and post-period strategic announcements, including partnerships and financing agreements.

Revenue remained stable at GBP2.0 million (1H 2024: GBP2.0 million), while R&D costs declined to GBP1.3 million (1H 2024: GBP1.7 million). A gain of GBP0.4 million was recorded from the sale of non-Ogluo Tetris Pharma products, and the loss after tax fell to GBP2.5 million from GBP4.6 million. Cash and short-term investments stood at GBP1.9 million (1H 2024: GBP2.5 million).

The stock’s increase reflects the partnerships with Sequel and Ligand, supporting AT278 development and extending the cash runway into 1H 2027. The modest revenue base, ongoing R&D expenditure, and milestone-based pipeline progress may limit immediate market optimism.

Petershill Partners (LSE:PHLL)
Petershill Partners operates as a global private market's investment platform, providing access to partner-firm revenues, management fees, and performance-related earnings.

The stock (PHLLORD) traded at 307.50 GBX, up 33.12% or 76.50 GBX from the previous close of 231.00 GBX. Trading opened at 308.00 GBX, with a high/low range of 309.50/307.00 GBX and a bid/offer of 307.50/308.00 GBX. The share price increase coincides with investor response to both interim results and the announced return of capital and delisting proposal.

The increase in Petershill’s share price reflects growth in partner-firm earnings, Adjusted Profit After Tax, Partner-firm AuM, and accrued carried interest. Strategic disposals, acquisitions, and the reported return of USD265m to shareholders, including an interim dividend of 5.2 cents per share, also contributed to the positive movement. In addition, the proposed return of capital of USD921m, involving the cancellation of free-float shares and delisting, represents a notable premium relative to the prior share price.