Highlights
- Group revenue up 73% to £35.9m (FY25: £20.7m), driven by organic customer acquisition, increased platform adoption and higher demand for fulfilment and logistics services.
- Gross profit up 111% to £3.0m (FY25: £1.4m), with fee income up 74% to £1.9m (FY25: £1.1m).
- Gross margin of 8.4% (FY25: 6.9%) and Adjusted EBITDA up 129% to £2.3m (FY25: £1.0m).
- Group operating profit of £212k (FY25: £743k), after technology development and mobilisation expense of £2.2m, and loss after tax of £954k (FY25: profit of £186k).
- Cash balance of £960k at the end of the period (FY25: £383k), with cash generated from operations of £360k (FY25: £20k absorbed). Net assets of £2.0m (FY25: £1.0m).
- Loss after tax reflects a non-cash commitment fee of £1.2m (FY25: £334k) recognised on the termination by mutual agreement of the £50m Nimbus Capital equity line facility. The fee was settled through the issue of equity and no further amounts are due under the facility.
- Post year end, the Company’s shares were admitted to trading on Euronext Access Dublin on 31 July 2026 under the ticker BLKX.
Dr Eng Gabriele Dadò, Founder and Group CEO of BLK, commented:
“FY2026 has been a year of strong growth for BLK. We grew our revenue by 73% to £35.9 million and more than doubled both gross profit and Adjusted EBITDA, as more buyers, sellers and shippers used our platform and demand for our integrated fulfilment and logistics services increased. Our admission to Euronext Access Dublin in July marks the beginning of a new phase for BLK as we expand our technology platform, strengthen our global presence and deliver on our mission to digitalise commodity trade.”
Management Presentation and Further Information
Founder and Group CEO Gabriele Dadò is hosting a live results presentation at 10:00am (Dublin / London time) today. The presentation is open to existing and prospective investors, analysts and intermediaries who may sign up to attend below:
REGISTER FOR BLK RESULTS PRESENTATION
The results presentation together with the live broadcast will be available afterwards on the BLK investor relations website: www.blkcommodities.com/investors
| Enquiries: BLK Global PLC | |
| Gabriele Dadò, Chief Executive Officer and Company Secretary | Tel: +44 (0) 7757630638 |
| Email: investors@blk-global.com | |
| Website: www.blkcommodities.com/investors |
| Listing Statistics: | |
| Trading Market and Venue | Euronext Access Dublin |
| Issued Share Capital | 16,700,623 |
| ISIN | GB00BPSKS130 |
| Ticker | BLKX |
| Sponsor | NeoSponsor@assiduous.tech |
About BLK
BLK Global PLC is a UK-based technology company building the digital infrastructure for global commodity trade. Through its proprietary platform, www.blkcommodities.com, the Company enables businesses to source, trade and fulfil raw materials directly with suppliers worldwide through a transparent, technology-enabled marketplace and integrated logistics ecosystem.
Founded in 2018 and headquartered in Glasgow, with operations spanning Europe, the Middle East and Asia, BLK combines a digital B2B marketplace with integrated shipping, logistics and fulfilment services, allowing customers to manage procurement and supply chains through a single ecosystem.
The Company generates revenue through marketplace transaction fees, physical fulfilment services and recurring technology-based products, while building proprietary datasets from global trade activity.
BLK believes businesses of every size should have transparent access to global markets and pay the real value for the goods they buy. By combining technology with deep sector expertise in commodities and shipping, the Company aims to create the world’s leading online spot market for raw materials and industrial commodities, building new market infrastructure for global trade and enabling businesses to connect, compete and trade more efficiently across international markets.
BLK Global PLC was admitted to trading on Euronext Access Dublin in July 2026 under the ticker BLKX.
This press release does not constitute, nor should it be construed as, an offer to the public to subscribe for, purchase, sell or exchange, or an invitation to make an offer to subscribe for, purchase, sell or exchange, any securities. No offer of New Ordinary Shares is being made in the United Kingdom, and this announcement is not directed at any person in the United Kingdom. The distribution of this press release in certain countries may constitute a violation of the laws of such jurisdiction. This document may not be published, distributed, used, in whole or in part, directly or indirectly, by or in the United Kingdom, the United States, Canada, Australia, Japan or the Republic of South Africa. This announcement should be read in conjunction with the Information Document.
Companies listed on the Euronext Access market are not subject to the same rules as companies listed on a regulated market. They are subject to a less extensive set of rules, tailored to smaller growth companies. Therefore, the investment risk in companies listed on Euronext Access may be higher compared to investing in companies listed on a regulated market. Prospective investors should read the risk factors described in Section 2 of the Information Document prepared for Admission. The occurrence of one or more of these risks could have a significant adverse effect on the Company’s business, reputation, financial position, results, or outlook. The Information Document is available free of charge from the investor section of the Company’s website www.blkcommodities.com/investors.
Preliminary Financial Information
The financial information presented herein relates to the financial year ended 30 June 2026 and has been prepared on the basis of the Group’s draft consolidated financial statements. The results remain subject to completion of the statutory audit and final approval by the Board of Directors. Accordingly, the figures presented are preliminary and may be subject to adjustments prior to the publication of the final audited financial statements.
Forward-Looking Statements
This press release may contain forward-looking statements, including statements relating to the Company’s strategy, growth plans, market opportunities, financial objectives, operational targets and future performance. Such statements are based on current expectations, estimates and assumptions of the Directors and involve known and unknown risks and uncertainties which may cause actual results to differ materially from those expressed or implied.
Forward-looking statements speak only as at the date of this announcement. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements.
Any financial objectives or operational targets contained in this announcement are based on current management expectations and market conditions and should not be regarded as profit forecasts or guarantees of future performance. Actual results may differ materially. Readers are cautioned not to place undue reliance on forward-looking statements.
CHIEF EXECUTIVE’S STATEMENT
Financial Results
I am pleased to report that BLK Global PLC delivered strong growth in the year to 30 June 2026, with Group turnover increasing by 73.4% to £35.9 million, compared to £20.7 million in the prior year. Gross profit increased by 111.2% from £1.4 million in the year to June 2025 to £3.0 million in the year to June 2026, with gross margin improving to 8.4% (FY25: 6.9%). Adjusted EBITDA increased by 128.9% to £2.35 million (FY25: £1.03 million).
Operating Results
Operating profit was £211,540 (FY25: £742,516) after technology development and mobilisation expense of £2,188,740 (FY25: nil), amortisation and depreciation of £12,845 (FY25: £12,546) and a foreign exchange gain of £66,119 (FY25: loss of £270,093). Other administrative expenses were £679,335 (FY25: £407,808).
Following a charge of £1,166,000 (FY25: £334,000) relating to the Nimbus Capital commitment fee (see Nimbus Facility below), the Group reported a loss after tax of £954,460 (FY25: profit of £185,634), with no tax charge in the year (FY25: £222,882).
Nimbus Facility
In April 2026, as part of the Company’s pre-admission restructuring, the Company and Nimbus Capital agreed by mutual consent to terminate the Growth Equity Agreement. The remaining commitment fee was recognised in full as part of the agreed settlement, giving a charge of £1,166,000 in FY2026 (FY25: £334,000) and a total commitment fee of £1.5 million. The commitment fee was satisfied through the issue of shares to Nimbus Capital in full and final settlement of all outstanding commitment fee obligations under the agreement. No capital had been drawn under the facility, and its termination simplified the Company’s capital structure ahead of admission.
Operational Review
During the year, the business continued to scale strongly, driven primarily by organic customer acquisition, increased platform adoption and higher demand for fulfilment and logistics operations. At the year end the platform had 941 registered buyers (up 13.2%), 410 registered sellers (up 5.1%) and 50 registered shippers (up 92.3%). Total transaction value increased by 10.7% to US$206.6m. Across our two principal websites, www.blkcommodities.com and www.blkships.com, we recorded 780,482 visits during the year.
The estimated gross value of stock displayed for sale on the platform increased by 153.4% to US$29.6bn (FY25: US$11.7bn). This represents the estimated aggregate listing value of commodities displayed on the platform, based on supplier listings and/or soft corporate offers received, the quantity indicated and prevailing average market prices of the specified commodities. It does not represent committed, contracted or guaranteed supply, nor inventory owned, controlled or financed by the Group. Registered buyers and sellers are users who have registered accounts on the platform; registration does not necessarily imply completed transactions or ongoing commercial activity.
Public Markets Debut
On 31 July 2026, after the year end, the Company’s shares were admitted to trading on Euronext Access Dublin under the ticker BLKX and ISIN GB00BPSKS130. The admission was completed by way of a direct listing and did not involve the raising of new capital. The listing marks the beginning of a new phase for BLK as we expand our technology platform, strengthen our global presence and deliver on our mission to digitalise commodity trade.
Balance Sheet and Cash
The Group’s cash position at the year end was £960,191 (FY25: £382,759), with cash generated from operations of £359,755 (FY25: £19,748 absorbed). Net assets increased to £2,013,858 (FY25: £960,007), reflecting the issue of share capital of £2,019,074 during the year, including shares issued in settlement of the Nimbus commitment fee and directors’ remuneration.
BLK 2030
BLK’s ambition is to establish itself as a leading global provider of raw material and commodities trading software and shipping solutions for businesses worldwide. The Company’s medium-term objective is to grow Group revenues at a compound annual growth rate in excess of 40%, subject to market conditions and execution risk, and by 2030 the Company is targeting c.40% of its revenues to derive from its marketplace platform. By 2030, BLK aims to be positioned as a category leader in the market with an opportunity for meaningful international scale.
FY2026 represents a strong first step towards these objectives, with Group turnover up 73% and marketplace fee income up 74% to £1.9m. The Company will raise further capital opportunistically where required to pursue growth initiatives, both organically and through acquisition. These objectives represent the current intentions of the Directors and there can be no assurance that they will be achieved within the anticipated timeframe, or at all.
Current Trading and Outlook
Trading since the year end has been in line with the Board’s expectations and BLK 2030. Geopolitical conditions remain an ongoing risk to the business. The Group facilitates commodity shipment flows within the Gulf region, including routes transiting the Strait of Hormuz. Maritime traffic through the Strait remains subject to evolving geopolitical conditions, and wider seaborne trade continues to be affected by the rerouting of flows away from the Red Sea and Suez Canal, rising trade barriers and tariffs, sanctions regimes and freight rate volatility. Management continues to monitor regional developments closely.
Looking ahead, the Board remains confident in the Group’s prospects. Having regard to available cash balances, the Directors believe that the Group has access to capital resources sufficient to pursue its current organic growth plans, subject to market conditions. Our priorities for FY2027 are to increase participation and transaction activity across the marketplace, continue investing in our technology architecture and in new marketplace, software, subscription and data-based products, expand our international commercial network, and strengthen our governance, financial reporting and investor communication as a public company. Our listing on Euronext Access Dublin gives us a stronger public profile and broader access to international capital and partners as we work towards our BLK 2030 objectives.
Dr Gabriele Dadò
Founder and Group Chief Executive Officer
30 October 2026