RC Fornax PLC (AIM:RCFX) shares jumped 18% to 7.28p after the defence consultancy revealed a blockbuster start to its financial year, delivering the strongest wave of new work it has ever seen.
The company, which supports some of the UK’s most sensitive defence programmes, reported £2.5 million in total orders during the first quarter of its FY26 year, more than 70% higher than a year ago.
A key tailwind has been the government’s Strategic Defence Review, which has prompted clients to speed up projects and revisit long-term plans.
RC Fornax also pointed to internal improvements made over the past five months, including stronger governance and better risk management, which it says have made bidding faster and more reliable.
The real standout number is the £2.2 million in fresh work booked so far, marking growth of more than 180% on last year and a jump of over 1,200% compared with the previous quarter.
Three new clients have joined the roster, adding to ongoing work with existing customers. Activity across the seven government procurement frameworks the company sits on is also helping to build what management describes as a rapidly strengthening pipeline.
Chief executive Paul Reeves said the strong start provides better visibility for the year ahead.
Recent fundraising will help accelerate new tools such as Procure X and Smart Suite, which are designed to modernise how defence capabilities are sourced. Reeves said the company enters the rest of FY26 “with confidence and a strong platform for sustained growth.”