RC Fornax wins £4 million government contract and reshapes business

Basic Materials Written by: Ian Lyall 02:04 Fri 18 Sep 2026 --> Proactive has a commercial relationship with RC Fornax PLC. This article was produced independently under Proactive's Editorial Standards Policy . Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. RC Fornax PLC ( AIM:RCFX ) View Price & Profile RC Fornax wins £4 million government contract and reshapes business Published: 02:04 18 Sep 2026 EDT RC Fornax PLC (AIM:RCFX) , the engineering consultancy serving the UK defence sector, said it has been selected for a £4 million government contract as it set out a revamped, three-part business structure. The company said it had been chosen to deliver a transformation project for a new government client through the Public Sector Resourcing framework, used to hire specialist staff across Whitehall. The award remains subject to the client's standard procurement process and a formal purchase order. It lifts the group's revenue visibility for the current financial year to about £8.4 million, made up of the new contract, orders already secured and anticipated renewals. For the year just ended, RC Fornax expects revenue of about £5.2 million, up from £4.1 million, with monthly invoicing rising from around £180,000 to £600,000 over the period. The operating loss is forecast to widen to £1.6 million from £1.1 million. The company said continuing uncertainty over UK defence policy and spending had delayed some contracts, leaving performance marginally below market expectations. Cash stood at £850,000 at the end of August, little changed on the year. The board said it did not expect to raise fresh equity but was weighing a standby debt facility to fund working capital as the business grows. It has also cut costs by £500,000 a year without affecting client-facing work. RCF will now organise itself around three divisions: its core output-based engineering services arm, a specialist recruitment business placing staff with defence contractors, and SME Procure, an early-stage artificial intelligence procurement platform. The company said SME Procure would be funded only against commercial milestones, and that it might seek outside investment or a separate structure if suitable terms were not available within the listed group. Rob Shepherd has stepped down as finance director with immediate effect. Adam Cole has been appointed interim chief financial officer on a part-time basis. Continue reading