RC Fornax PLC secured a £350,000 contract through the Public Sector Resourcing framework, increasing its secured and anticipated revenue to about £9.1 million, which is 93% of the broker Cavendish's £9.8 million revenue forecast for the next financial year. The six-month project management support contract is expected to be extended, potentially raising its annual value to £650,000-£700,000. This contract follows a recent £4 million award, highlighting growing demand from UK government defense spending and supporting the company's growth strategy. Cavendish maintains a buy recommendation with a 50p price target, forecasting improved earnings and no immediate funding needs for the core business.
RC Fornax's recent government contract win is context for market watchers. For readers following Basic Materials, here is Pluang's market snapshot as of Sep 24, 2026 21:22 WIB: of 38 priced US stocks, 6 rose and 32 fell. Notable movers include GFI at USD 39.70 with a -2.74% change and 76% buy orders, TECK at USD 65.02 with a -2.66% change and 100% buy orders, and LYB at USD 61.33 with a +2.23% change and 100% sell orders.
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